Vietnam has the opportunity to move faster thanks to favorable global winds.

Amidst a volatile global economy, Vietnam has emerged as a bright spot for growth in Asia. According to experts, the coming years of favorable conditions could help Vietnam accelerate its growth if it seizes the right opportunities to strengthen its internal capabilities.

From a bowl of Vietnamese porridge to a million-dollar dream in America.

The promising domestic revenue figures for 2025 served as a springboard for Ms. Nguyen Thi Thu, Chairwoman of the Board of Directors of Anh Kim Food Production Joint Stock Company (Cay Thi porridge brand), to decide to expand into the export market.

Entering 2026, the company is targeting major markets such as the US, Russia, and China. After testing the product with consumers in these markets, Ms. Thu assessed the potential as enormous and expects export revenue from the US alone to reach $1 million.

"The most difficult thing is creating a porridge product that European and American consumers will want to enjoy. Because Asian porridge is not a food they eat regularly," Ms. Thu said. Previously, this porridge brand had also sold its products to Australia and Cambodia.

The story of expanding food exports is just one aspect of Vietnam's economic landscape in 2025, a year full of volatility. In April 2025, Vietnam was assessed as one of the most affected economies in Asia, perhaps second only to China, due to the risks from US tariff policies.

Vietnam aims for a growth rate of 10% or higher by 2026, with a GDP per capita of $5,400-$5,500. Photo: Hong Khanh

However, Vietnam has demonstrated the resilience of its economy, with GDP growth projected to exceed 8% for the whole of 2025.

According to a newly released report by HSBC, Vietnam's growth rate in 2025 is the second highest in the last 15 years. This makes Vietnam the fastest-growing economy not only in ASEAN but across Asia.

Despite a series of tariff-related shocks in 2025, Vietnam's trade still reached a record high of $928 billion, an 18% increase compared to the previous year.

The figures from Nghia Son Wood Products Co., Ltd. ( Dong Nai ) are a prime example. In 2025, the company's export sales increased by 40%; more than 1,000 containers of goods were exported. Revenue in the US increased significantly, with orders already placed until May 2026.

Vietnam has also gained a larger market share in the US market. According to data from HSBC, Vietnam's exports to the US in 2025 surged by nearly 30% year-on-year, despite concerns about tariffs. Vietnam has also gained additional export market share to the US for products such as mobile phones, textiles, and footwear.

Notably, in Vietnam's export structure, electronics exports account for 35% of total export value, a significant jump from just 5% in 2010. Meanwhile, textile and footwear exports have declined from a peak of 30% in 2005 to slightly over 10% currently, reflecting Vietnam's upward trajectory in the export value chain.

Vietnam is increasing exports of consumer electronics (left chart) and gaining more market share in the US for these products. Source: HSBC

Take advantage of favorable conditions to strengthen your internal capabilities.

In November 2025, a series of socio-economic targets for 2026 were approved by the National Assembly . Accordingly, the growth target for 2026 was set at "at least 10%" with GDP per capita of 5,400-5,500 USD.

HSBC experts note that the double-digit growth target, based on a GDP growth rate of up to 8% by 2025, requires a strong impetus to achieve inclusive growth, including superior trade, significant investment, and robust consumption.

So what does Vietnam need to do to achieve its stated growth targets?

"We need to take advantage of favorable conditions to strengthen our internal capabilities," said Dr. Chu Thanh Tuan, Deputy Head of the Bachelor of Business program at RMIT University Vietnam.

He explained that many international organizations predict Vietnam will continue to be among the fastest-growing economies in Asia in the coming years. The main driving force comes from the wave of global supply chain shifts, as multinational corporations diversify production outside of China.

With advantages in labor costs, geographical location, and a network of free trade agreements, Vietnam continues to be an attractive destination for foreign direct investment (FDI).

With major economies boosting overseas investment, Vietnam has more opportunities to attract new projects in the processing industry, energy, infrastructure, and gradually access high-tech projects and research and development centers.

Mr. Tuan emphasized that Vietnam needs to take advantage of the current favorable period to invest in long-term foundations. Accordingly, revenue from exports and FDI should be prioritized for infrastructure, education, healthcare, digital transformation, and improving the quality of human resources, instead of being concentrated in short-term speculative sectors. The goal is to increase labor productivity, technological capacity, and the resilience of the economy when the global cycle reverses.

Furthermore, fiscal discipline and banking system safety must be maintained. While larger economies can take more risks due to their size and ability to issue debt in their own currencies, Vietnam has limited room for extreme easing experiments. Chasing after cheap global capital while neglecting risk control could have significant consequences in the medium and long term.

Finally, diversifying markets and enhancing the position of businesses in the value chain are key requirements. Reducing dependence on a few markets or industries, and encouraging domestic businesses to participate more deeply in high-value-added stages such as design, marketing, and after-sales service, will help increase the ability to retain domestic value and reduce risks from external shocks.

"The world is entering a phase of accepting risks for growth. Vietnam has the opportunity to move faster, but only sustainably if it transforms the next few years of favorable winds into a time to strengthen its foundation, rather than just chasing fleeting trends," Mr. Tuan said.

Vietnam's Economic Forecast for 2026: Opportunities Await, Only One Thing Needed. Despite facing numerous risks, particularly the possibility of high US tariffs, Vietnam's economy maintained positive growth momentum in 2025 and entered 2026 on a favorable foundation. However, the biggest challenge remains the capacity for implementation.

Source: https://vietnamnet.vn/viet-nam-dang-co-co-hoi-di-nhanh-hon-nho-gio-thuan-toan-cau-2483124.html