Vietnam - a bright spot in the new growth wave of the South

VTV.vn - According to Xerfi Canal magazine, Vietnam is one of the countries that benefits the most from the globalization process, affirming its role in the global production network.

Electronic components manufacturing. (Source: VNA)

According to the economic , strategy and business management magazine Xerfi Canal (France) on October 31, in the shifting global economic picture, Vietnam is considered one of the most dynamic countries of the new generation of economies in the South.

Sources from the above magazine said 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 an economy largely based on textiles, Vietnam has rapidly emerged as a manufacturing – and specifically 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 young 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, now 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 benefits the most from the globalization process, and is gradually asserting its central role in the 21st century global production network.

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 strong 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 spread throughout the economy.

In Southeast Asia, Indonesia is emerging as a regional powerhouse. With 285 million people, nearly 70% of whom are of working age, the country is reaping the benefits of a “demographic dividend.”

As the world's largest nickel producer, and possessing abundant reserves of coal, copper and bauxite, Indonesia has oriented its development towards an industrialization model 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 new centers of world economic momentum in the post-industrial era./.

Source: https://vtv.vn/viet-nam-diem-sang-trong-lan-song-tang-truong-moi-cua-phuong-nam-1002511011000183.htm