Step steadily and firmly into the new era

VTV.vn - Vietnam's economy is entering a period of strong movement with confidence spreading throughout the private sector and the international investor community.

After nearly a year of implementing key resolutions of the Politburo and the Government, Vietnam's economy is entering a period of strong movement with confidence spreading throughout the private sector and the international investor community.

Positive growth indicators, abundant FDI capital flows and synchronous institutional reforms have created a “new runway” for the Vietnamese economy to take off. On that foundation, the requirement is not only high growth, but also steady and steady steps to go far in the new era of development.

"Straight line, clear path"

More than 5 months since Resolution 68 was issued, the private economic sector - the sector contributing more than 50% of GDP - has witnessed a "transformation". Statistics show that after the first 9 months of 2025, 145,000 new businesses were registered (more than 500 businesses/day) - the highest in the past 5 years.

Surveying business trends of enterprises, the General Statistics Office said that it is expected that in the fourth quarter of 2025, 40.8% of enterprises will assess that the trend will improve compared to the third quarter of 2025; 41.7% of enterprises believe that the production and business situation will stabilize. A rate that shows that business confidence is reviving, spreading throughout the economy.

Along with that, despite geopolitical and tariff instabilities, attracting foreign investment continues to be another bright spot of the economy. Foreign direct investment realized in Vietnam in the first 9 months of the year is estimated at 18.8 billion USD, the highest figure for 9 months in the past 5 years.

The processing and manufacturing industry continues to affirm its position as the main driving force, attracting the majority of FDI capital flows into Vietnam, in line with Vietnam's strategic orientation of selectively attracting high-quality FDI... This is the consistent spirit of Resolution No. 57 of the Politburo on breakthroughs in science and technology development, innovation and national digital transformation.

Recently, the European Chamber of Commerce in Vietnam (EuroCham) announced that the Business Confidence Index in the third quarter increased to 66.5 points, reaching its highest level in the past 3 years. This reflects the clearest optimism of the European business community, as this index surpassed the threshold recorded before the US reciprocal tariff imposition period.

EuroCham believes that, despite being affected by global fluctuations, the trend of shifting supply chains away from Vietnam remains very low, with only 3% of businesses considering adjusting operations outside of Vietnam, while another 3% are considering expanding or adjusting operations within the country. This shows that Vietnam remains a reliable and sustainable production and investment destination in the regional value chain.

FTSE Russell's upgrade of Vietnam's stock market from frontier to secondary emerging is also seen as a factor strengthening the confidence of European investors. Nearly half of European businesses in Vietnam participating in the survey believe that Vietnam will achieve its GDP growth target of 8.3 - 8.5% this year.

Mr. Torben Minko - Member of the Executive Board of EuroCham Vietnam - said that there are currently many reforms being implemented by the Vietnamese Government and European investors see these as positive reforms, helping the investment process take place faster and more smoothly.

In addition, it is clear that a strong trend of digital transformation is taking place in Vietnam from the banking sector, private enterprises to manufacturing. This digitalization process will be an important foundation to attract more international investors in the future.

"Vietnam is doing very well and if everything continues to go in the right direction, Vietnam's future will be very bright," Mr. Torben Minko assessed.

“We have a ‘straight line, clear path’, now we must ‘step steadily and firmly’ into the new era,” General Secretary To Lam affirmed – a message that has the meaning of paving the way, arousing the desire for development and establishing a new position for Vietnam on the world economic map.

New space, new development opportunities

One of the factors that have brought success mentioned by foreign investors in recent days is the consolidation and expansion of development space of localities, helping to increase infrastructure connectivity and resource sharing. The formation of "super localities" has also created growth poles with larger economic scale, such as Ho Chi Minh City leading the country with a total registered FDI capital of 4.8 billion USD, followed by Bac Ninh and Hanoi.

Hyundai Kefico - a Korean investor has just decided to invest an additional 50 million USD to build additional auxiliary works for its project, thereby increasing the total investment capital in Vietnam to nearly half a billion USD. According to the business representative, the merger of Hai Duong with Hai Phong has opened up many opportunities and favorable incentives for businesses to expand production and business.

Mr. Yang Chul - General Director of Hyundai Kefico Vietnam Company - said: "After the merger, the enterprise will enjoy special preferential policies and mechanisms given by the Central Government to Hai Phong City such as taxes, investment conditions... Hai Phong City is doing well in digitizing administrative procedures, so I also expect that enterprises will shorten time and save costs."

The merger of administrative units and the simplification of administrative procedures have given Vietnam more opportunities to shift from attracting FDI capital through low costs to attracting capital through institutional foundations and management capacity. According to the Japan External Trade Organization (JETRO), 62% of surveyed enterprises rated the investment environment and growth potential in Vietnam as very high, far exceeding the ASEAN average, thanks to reform efforts.

“By improving business productivity through restructuring administrative agencies, positioning the private sector as the main growth engine to promote innovation and international integration, Vietnam is building a solid foundation for sustainable and long-term growth,” said Haruhiko Ozasa, Chief Representative of the Japan External Trade Organization in Hanoi.

High growth to "overcome the middle-income trap"

Speaking at the 1st Government Party Congress, term 2025-2030, General Secretary To Lam said that this is the time to seize the opportunity, take shortcuts using Vietnamese intelligence combined with the progressive knowledge of humanity, and soon establish a state of "strategic autonomy".

Prof. Dr. Hoang Van Cuong, Member of the Prime Minister's Policy Advisory Council, Member of the National Assembly's Economic and Financial Committee, said that Vietnam's goal is to become a high-income, high-income industrial country by 2030, and a developed, high-income country by 2045. To achieve that goal, Vietnam's economy must have high growth, double-digit growth. However, high growth does not mean hot growth but must ensure sustainability at a steady pace, without creating instability.

According to Prof. Dr. Hoang Van Cuong, high and breakthrough growth over a long period of time is almost a prerequisite for the goal of escaping the middle-income trap. “To overcome the middle-income trap and become a developed country, especially in the context of relying on the advantages of the scientific and technological revolution, we must quickly develop breakthroughs,” said Mr. Cuong.

Recently, the Government has set a target of 10% GDP growth in 2026, an increase that is considered challenging on the basis of high growth in 2025.

Regarding the solution to maintain a high and sustainable growth rate in the long term, Prof. Dr. Hoang Van Cuong said that the growth model must be based on internal strength and autonomous integration. “We need to shift from an economy based on processing and assembly, following foreign investors to an autonomous integrated economy, that is, going hand in hand with large investors. We need to be able to lead and create equal playing fields,” Mr. Cuong emphasized.

And to do this, according to Prof. Dr. Hoang Van Cuong, the "path" is almost mandatory to rely on science, technology, and innovation. The development of science and technology helps Vietnam to join segments with high economic value in the production chain.

“Vietnam is facing many opportunities to have 'Make in Vietnam' products, thereby transforming its status from a processing economy to an integrated and self-reliant one,” said Mr. Hoang Van Cuong.

Government's goals for 2026

GDP growth strives to reach 10% or more; GDP per capita reaches 5,400 - 5,500 USD; average CPI increases by about 4.5%; average social labor productivity increases by about 8%; poverty rate according to multidimensional poverty standards decreases by about 1-1.5%...

The solutions focus on prioritizing growth promotion in association with maintaining macroeconomic stability, controlling inflation, ensuring major balances; controlling public debt and budget deficit within prescribed limits. Promoting industrialization, modernization, and restructuring the economy; resolutely implementing the Politburo's decisions in important and key areas. Focusing on building and perfecting a synchronous development institution...

Source: https://vtv.vn/buoc-deu-buoc-vung-chac-vao-ky-nguyen-moi-100251110094052472.htm