FDI, export - pillars of Vietnam's growth

Vietnam's economy still has many bright spots in the face of challenges from trade protectionism and global economic instability. Photo: Tuyet Lan

Record-breaking import-export turnover

Speaking with Lao Dong, Dr. Nguyen Minh Phong - an economic expert, assessed that the results of the past 11 months showed the good resilience of the economy, as well as the effectiveness of macroeconomic policies, improving the investment environment and promoting domestic consumption.

Analyzing each growth pillar, Dr. Nguyen Minh Phong said that international trade activities continued to be a bright spot. Total export and import turnover reached 839.75 billion USD, up 17.2% over the same period last year. Notably, both exports and imports increased sharply, 16.1% and 18.4% respectively, showing that demand from partner markets recovered and domestic production capacity improved.

“This is the first time Vietnam has achieved such an impressive import-export turnover, and it is likely that the whole year will exceed the 900 billion USD mark. Notably, this year continues to record a high trade surplus of 20.53 billion USD, extending the 10-year streak of continuous trade surplus. However, there are still two issues to note: Vietnam still has a trade surplus mainly from the FDI sector and still has a large trade deficit with China. Most of the exports are still processed, with limited added value,” predicted Dr. Nguyen Minh Phong.

Regarding foreign investment attraction, Dr. Nguyen Minh Phong assessed that Vietnam's attractiveness still maintained a positive trend. Total registered capital reached 33.69 billion USD, up 7.4%, while realized FDI capital reached 23.6 billion USD, up 8.9%. This shows the confidence of international investors in Vietnam's business environment, especially in the fields of manufacturing - processing, high technology and services.

In particular, an impressive indicator is that Vietnam's investment abroad has increased sharply, with total newly granted and adjusted capital reaching 1.1 billion USD, an increase of 83.9%.

According to Dr. Nguyen Minh Phong, domestic consumption demand continues to grow steadily. Total retail sales of goods and consumer service revenue in 11 months is estimated at 6.3 million billion VND, up 9.1%. This is an important pillar to help maintain growth momentum in the context of many risks in the world economy.

There are signs of a shift to a new growth model.

Sharing the same view, Dr. Le Duy Binh - Director of Economica Vietnam said that - Vietnam's economy in the first 3 quarters of the year showed that many bright spots in the macro economy continued to be maintained, and traditional growth drivers were stable.

"Public investment has been boosted, with disbursement rates higher than the same period last year, both in terms of ratio and absolute value. In particular, Vietnam has shown signs of shifting to a growth model based on technology, knowledge and innovation. Although it is still in the early stages and takes time, this is a positive sign" - Dr. Le Duy Binh assessed.

However, Dr. Le Duy Binh also pointed out the limitation that the process of transforming the growth model is still slow and has not met expectations: "The economy still depends heavily on capital and labor, while it is necessary to quickly shift to a model based on technology, innovation and brainpower."

Many foundations to achieve the growth target of 8.3 - 8.5%

In the last months of the year, the severe natural disaster situation has put a lot of pressure on the economic growth target. In response, the Government issued Resolution 380/NQ-CP dated November 25, 2025 to overcome the consequences of natural disasters, quickly stabilize the people's situation, and restore production and business.

Previously, Prime Minister Pham Minh Chinh also issued Official Dispatch 220/CD-TTg, emphasizing the focus on completing the implementation of plans to reduce and simplify administrative procedures and business conditions by 2025.

This is considered a strategic move to help reduce costs for businesses, increase management efficiency, and improve the business investment environment...

Forecasting growth for the whole year 2025, Dr. Nguyen Minh Phong said that the possibility of reaching 8% is quite certain.

“Achieving 8.3 - 8.5% will depend on the results of the last month. However, there are many reasons to believe that this target is feasible because the end of the year is always the period of accelerating disbursement and increasing exports. In addition, year-end consumption demand, especially near Tet, will create an important boost,” Dr. Nguyen Minh Phong assessed.

Source: https://baoquangninh.vn/fdi-xuat-khau-tru-cot-tang-truong-viet-nam-3387718.html