Foreign business leaders are expressing robust confidence in Vietnam’s continued economic expansion, viewing the nation as a strategically important investment destination. This optimism, particularly relevant as Vietnam approaches its 14th National Party Congress, is underpinned by the country’s demonstrated resilience, a notable shift towards higher-value industries, and a stable policy environment.
Ko Tae Yeon, chairman of KoCham in Vietnam, highlighted that Korean firms consider Vietnam a crucial long-term partner. He emphasized that sustaining economic gains requires a focus on growth quality, a predictable policy framework, and institutional stability. The future, according to Tae Yeon, lies in higher value-added manufacturing, technology integration, and digital transformation, with foreign direct investment (FDI) enterprises playing a pivotal role.
Echoing this sentiment, Adam Sitkoff, executive director of AmCham Hanoi, pointed to the deepening economic ties between the U.S. and Vietnam. With the U.S. as a top investor and Vietnam’s largest export market, AmCham is dedicated to supporting Vietnam’s economic evolution through reforms aimed at empowering private businesses, enhancing governance, and stimulating innovation.
Marcus Persson, country manager of Business Sweden in Vietnam, described Vietnam as a standout performer in Southeast Asia’s dynamic growth landscape, noting its impressive post-Covid-19 recovery. Swedish companies are increasingly integrating Vietnam into their diversification strategies, often referred to as the “China+1” approach, drawn by competitive operational costs and a young, capable workforce. A significant 89% of these companies plan to maintain or increase their investments in Vietnam.
HSBC Global Research’s ASEAN economist, Yun Liu, affirmed Vietnam’s remarkable economic resilience, projecting an average growth rate of 6.2% between 2021 and 2025. This growth is fueled by strong trade performance and consistent, high-quality FDI. HSBC anticipates that Vietnam’s sound economic fundamentals will persist, advocating for continued progress up the manufacturing value chain and increased investment in talent development.
Collectively, these insights from the foreign business community underscore a strong belief in Vietnam’s capacity to maintain its economic momentum. This outlook, however, is contingent on the continuation of stable policies, predictable institutional frameworks, and a strategic focus on developing high-value sectors.
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