Workers produce electronic components at Canon Electronics Company Limited (Pho Noi A Industrial Park, Hung Yen province). Photo: Pham Kien/VNA
Vietnam News Agency correspondent in Paris quoted the above magazine as saying that the S-shaped country, along with India, Indonesia, Mexico and Saudi Arabia, are becoming new locomotives of global growth, as traditional economic powers in the North gradually slow down.
From a predominantly textile-based economy, Vietnam has rapidly emerged as a manufacturing hub – specifically an assembly hub – of the world , serving mainly Western markets. This transformation is based on solid fundamentals: a continuously increasing flow of foreign direct investment, an increasingly skilled and youthful workforce of nearly 55 million people, competitive production costs and a strategic position in the global supply chain.
Thanks to this, Vietnam's export turnover has increased rapidly, currently reaching nearly 450 billion USD per year. Per capita income has also increased nearly 4 times compared to the late 1990s. Vietnam is considered one of the countries that benefited the most from the globalization process, and is gradually asserting its central role in the global production network of the 21st century.
Along with Vietnam, India is leading the group of emerging economies with the highest growth rate in the world in 2025. The country is driven by a young population, an increasingly skilled workforce and increased productivity thanks to heavy investment in infrastructure and digital transformation. With more than 1.4 billion people, India has surpassed China to become the world's most populous country, while building a "digital empire" that has pervasive power across the economy.
In Southeast Asia, Indonesia is emerging as a regional powerhouse. With a population of 285 million, nearly 70% of whom are of working age, the country is making good use of its “demographic dividend.” As the world’s largest nickel producer, and with abundant reserves of coal, copper and bauxite, Indonesia has oriented its development towards a model of industrialization based on deep processing, thereby attracting capital and technology to increase added value.
Across the Pacific, Mexico has established itself as the industrial heart of the Americas. Its proximity to the United States, free trade agreements, and abundant labor force have helped Mexico become the “factory” of North America. However, with 81% of its exports going to the United States, the country remains heavily influenced by Washington’s trade policies.
In the Middle East, Saudi Arabia is gradually moving away from its oil-dependent economic model through its “Vision 2030” program. This policy aims to develop new industries, attract foreign investment and build a more diverse and dynamic economy.
According to Xerfi Canal, the world's growth center is gradually shifting from North to South. If Washington, Beijing or Berlin were previously considered the main engines of the global economy, now New Delhi, Jakarta, Hanoi, Mexico City and Riyadh are emerging as the new centers of economic momentum in the post-industrial era.
Source: https://baotintuc.vn/kinh-te/viet-nam-diem-sang-trong-lan-song-tang-truong-moi-20251101064131171.htm
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