Opportunity to 'take off' for Vietnam from 4 pillar resolutions

Vietnam "brilliant" after nearly 40 years of renovation

During his lifetime, the late General Secretary Nguyen Phu Trong repeatedly affirmed : "Our country has never had such a foundation, potential, position and international prestige as it does today." The late General Secretary's statement has been proven through impressive numbers.

After nearly 40 years of Renovation (1986-2025), from a backward economy , Vietnam has risen to become a country with an average income per capita of about 4,500 USD by 2024, an increase of about 60 times compared to 1986.

*Vietnam has had 9 consecutive years of trade surplus. Illustrative photo*

Average economic growth is 6.5%/year, among the countries with high growth rates in the region and in the world . The economic scale in 2024 will reach about 476 billion USD, ranking 33rd in the world and increasing over 95 times compared to 1986. The basic macroeconomic foundation is stable, inflation is controlled at only about 4%/year. Import-export turnover in 2024 will reach over 786 billion USD, a trade surplus for 9 consecutive years. Vietnam is also among the top 20 countries with the largest trade scale in the world.

In particular, from a country with a food shortage, Vietnam has become the world's leading rice exporter, exporting about 9 million tons of rice in 2024, contributing to ensuring global food security; Vietnamese agricultural products are present in more than 160 countries. Energy security, employment, and balance of labor supply and demand are guaranteed. The economic structure has shifted positively, growth quality has been increasingly improved towards increasing the application of science and technology, improving productivity, quality, efficiency, and competitiveness of the economy.

With an increasingly improved investment and business environment, Vietnam continues to be a bright spot in attracting foreign investment. According to data from the Ministry of Finance, in 2024, Vietnam attracted over 38.2 billion USD in FDI capital, of which realized FDI capital reached 25.35 billion USD, entering the group of 20 leading countries in the world in attracting FDI. To date, Vietnam has over 43,900 FDI projects in operation with a total registered capital of about 525 billion USD. Vietnam has become a manufacturing center, located in the regional and global supply chains of many of the world's leading technology corporations such as Samsung, LG, Intel, Apple, GE, Foxconn, etc.

Along with attracting FDI, the private sector is encouraged to develop and play an increasingly important role in the economy with about 1 million operating enterprises as of October 2025.

Economic diplomacy has been promoted. Currently, Vietnam has expanded economic and trade relations with more than 230 countries and territories around the world; signed 17 free trade agreements with more than 60 countries, including many large economies.

With the above outstanding achievements, Ms. Do Thuy Duong - founder of The Map said that in the past, when talking about Vietnam, foreigners often mentioned war, but at the present time it is completely different. Vietnam is currently the country with the 16th largest population in the world and the economy is ranked 30th globally.

If we learn about Vietnam through Google, we will see a brilliant picture of Vietnam, not only war, typical agricultural products such as pepper, cashew nuts, coffee but also a picture of the electronics industry and attracting foreign investment. "Many foreign investors have come to Vietnam to invest, some even come to Vietnam to live" - Ms. Do Thuy Duong affirmed.

*Vietnam's investment and business environment is improving day by day. Illustrative photo*

4 Pillar Resolutions affirm Vietnam's position

In the current context, the world economic situation continues to fluctuate in a complex manner, with many difficulties and major challenges, thereby the global investment and business environment becomes more uncertain and has a more obvious impact on the growth and macroeconomic stability of many countries, especially in the Asia region. In that context, Vietnam has carried out a "revolution" in rearranging administrative units at all levels and building a two-level local government organization.

According to Mr. Mark Gillin, Chairman of the American Chamber of Commerce in Vietnam: Vietnam's restructuring of its administrative apparatus and application of a two-tier local government model has marked a historic step forward in building a more effective, transparent and sustainable governance system.

In particular, for US businesses, this reform can reduce one of the biggest challenges in implementing investment projects in Vietnam: the complexity of administrative procedures. Along with that, it reduces time and costs for businesses and state management agencies, saves paperwork, costs of transporting documents and traveling for people.

“The business community welcomes these changes, considering them a clear signal of Vietnam’s development vision,” Mr. Mark Gillin affirmed, adding that he was particularly impressed with the “quad of important resolutions,” including: Resolution 57-NQ/TW on promoting science, technology and innovation; Resolution 59-NQ/TW on proactive international integration; Resolution 68-NQ/TW on developing the private economy and Resolution 66-NQ/TW on reforming law-making and enforcement.

“All of these create the foundation for Vietnam’s take-off, reflecting the recognition that innovation, transparency and the private sector are the real drivers of economic transformation,” the Chairman of the American Chamber of Commerce in Vietnam emphasized, adding that the reform process is bringing wide-open opportunities for the Vietnamese economy in the coming period. However, the success of the reforms depends on the effective implementation of the resolutions. Accordingly, the Government needs to issue guidelines and have a clear roadmap to narrow the gap between the central and local levels, ensuring uniform implementation nationwide, so that the reforms will bring benefits and strengthen the long-term confidence of investors.

Mr. Mark Gillin, President of the American Chamber of Commerce in Vietnam: Resolution 66-NQ/TW of the Politburo on innovation in law-making and enforcement to meet the requirements of national development in the new era will not only help reduce the burden on foreign enterprises but also enhance the competitiveness of Vietnamese enterprises through cost reduction and efficiency improvement.

Source: https://congthuong.vn/co-hoi-cat-canh-cho-viet-nam-tu-4-nghi-quyet-tru-cot-431908.html