On November 6, businesstimes.com.sg (Singapore) published an article emphasizing that Vietnam has become a leading new-generation trade center in the Association of Southeast Asian Nations (ASEAN) thanks to its production capacity and export growth, while the government is boosting investment to implement ambitious reforms and growth targets for 2026.
According to the article, compared to other countries in the region, Vietnam's competitiveness is increasing and this is helping Vietnam become one of the world's leading manufacturing centers.
In a report published by the global economic research and analysis department Allianz Research (Germany) on November 5, Vietnam's position was reinforced when it was ranked as the second most potential new-generation commercial center, after the United Arab Emirates (UAE).
The driving force for Vietnam’s breakthrough comes from strong export growth and a new tariff agreement with the US, which strengthens Vietnam’s role as a hub in the “re-routing” of Asian production chains.
The report said that Vietnam's growing number of free trade agreements, while affordable labor costs and a diversified export basket - factors contributing to the country's increasing influence.
In addition, Vietnam also benefits from regional fluctuations such as the trend of shifting production out of China and the process of trade regionalization.
Despite facing a challenging global economic environment, including rising tariffs, shifting supply chains and geopolitical tensions, Vietnam's export sector has shown strong resilience.
In October 2025, the export turnover of goods reached 42.1 billion USD (up 17.5% over the same period last year). In the first 10 months of 2025, Vietnam's total export and import turnover increased by 16.2% and 18.6%, respectively. However, on a monthly basis, after adjusting for seasonal factors, the export of goods in October 2025 decreased by 3.5% - this is an indication that the new US tariffs are starting to have a more pronounced impact on the Vietnamese economy.
Economist Adam Ahmad Samdin at Oxford Economics, a global economic research and consultancy, said that export growth in 2026 is at risk of being affected by US tariffs. However, the impact of US tariffs could be partly offset by stable demand for AI-related infrastructure until 2026.
Meanwhile, Vietnam's manufacturing industry recorded strong signs of recovery in the early fourth quarter of 2025.
According to S&P Global, the Purchasing Managers’ Index (PMI) for the Vietnamese manufacturing sector increased sharply to 54.5 points in October, compared to 50.4 points in September. This increase reflected growth in output and new orders, especially the first increase in new export orders this year.
Tourism is another bright spot in Vietnam’s economic picture in 2025. In October 2025, the number of international visitors increased sharply by 22.1% compared to the same period in 2024, after increasing by 19.5% in September 2025. This shows that Vietnam is increasingly interested as a tourist destination.
Economist Samdin recommends that the tourism industry needs to continue to support domestic spending even though personal consumption growth has peaked as inflation-adjusted wage growth has slowed.
The report also noted that Vietnam's inflation rate has decreased to 3.25% in October 2025. Investment disbursement from the state budget increased by more than 29% compared to September 2024, thereby maintaining strong growth momentum in the third quarter of 2025.
Meanwhile, the 10th Session of the 15th National Assembly proposed a budget deficit of 4.2% of GDP in 2026 (up from 3.1% in 2024) - this shows the government's strong commitment to increasing spending to boost economic growth.
Foreign investment is also pouring into Vietnam at a rapid pace. From January to October 2025, foreign direct investment (FDI) increased by 8.8% compared to the same period in 2024 - reaching 21.3 billion USD, the highest level in the first 10 months of the year since 2007.
In addition, registered FDI capital (reflecting future investment flows) increased by 15.6% to 31.52 billion USD - this shows strong investor confidence in Vietnam's long-term economic prospects./.
Source: https://www.vietnamplus.vn/viet-nam-tro-thanh-trung-tam-thuong-mai-the-he-moi-hang-dau-asean-post1075623.vnp
![[Photo] Da Nang: Hundreds of people join hands to clean up a vital tourist route after storm No. 13](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2025/11/07/1762491638903_image-3-1353-jpg.webp)
Comment (0)