The Asian Tribune
editor@asiantribune.net
Vietnam’s growth story is unique. Its economy grew by 8.02% in 2025, after a 7.09% growth in the year 2024. The government aims at 10% annual growth in coming years.
The exports have increased by 17%. What is more important is that the exports to United States rose by 28%, from nearly 120 billion dollars to over 153 billion dollars. It has the third largest trade surplus with US in the world.
China is a huge country but even its growth rate has been below Vietnam. Vietnam has outpaced most of its neighbours including Indonesia, Malaysia and Singapore.
China is world leader in exports. But Vietnam’s success story is unparalleled as its exports reached 475 billion dollars in the previous year. It is significant as South East Asia has countries like South Korea, Japan, Taiwan, Singapore too that export electronics, semi conductors, machinery and financial services. Other countries include Thailand, Philippines, Indonesia, Laos, Singapore and Malaysia.
The change began in late 1980s when Vietnam started Doi Moi reforms. The growth began and after its trade agreement with US in 2000, the country’s trade trajectory went up.
Though there is also a section that talks about rerouting Chinese goods through Vietnam after China’s tariff row with US, as one of the reasons behind the growth statistics.
The focus on economic growth, particularly, favoring FDI and coming up with Special Economic Zones, giving tax incentives and attracting several major international manufacturers, was key to the positive transformation.
After crackdown on corruption, manufacturing sector emerged as the mainstay of its economy. Clearly, Vietnam’s growth story should serve as an inspiration for other nations too.
Email: editor@asiantribune.net
