Vietnam's Economy Through International Perspective: Highlights From Operating Policies
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In particular, Broers assessed that Vietnam is one of the 20 fastest growing countries in the world, with the GDP expected to reach 5.8% in 2024 and 6.9% in 2025 compared to the world average of 2.3%.

One of the important drivers for Vietnam's strong growth is its golden population structure, she stated. Vietnam is benefiting from an abundant and highly educated workforce. Its high urbanization rate also contributes to promoting production and the scale of the economy:

“Vietnam has set a goal of becoming an upper-middle-income country by 2035 and a high-income country by 2045. We see that Vietnam benefits from a highly educated and affordable workforce, with an adult literacy rate of 98%," said the expert from Utilico.

She believed the golden population structure and high urbanization rate also help Vietnam in becoming increasingly attractive to foreign investors looking to diversify their supply chains, such as Apple. Despite the supply chain issues, if the Vietnamese government can navigate these factors, Vietnam has the potential to become a favorite destination for investors in Asia.

(Photo: TTDN).

HSBC Global Research also released a report in early August stating that Vietnam continues to be a popular destination for foreign direct investment (FDI) enterprises. The report said that over the past 20 years, Vietnam has become a major manufacturing base and deeply integrated into the global supply chain. Exports have increased by more than 13% annually on average since 2007, dominated by foreign-invested enterprises.

Accordingly, the interest of multinational corporations in Vietnam has increased sharply thanks to many factors, including competitive costs, FDI support policies, and proactive support from the government through the tax system.

Meanwhile, S&P credit rating agency continues to maintain Vietnam's economic outlook at stable, reflecting expectations that the Southeast Asian country will strive to achieve strong economic growth. Financial sector challenges will not significantly weaken the government's solid balance sheet.

Also, Vietnam continues to be an attractive destination for foreign investment with a stable and increasingly diversified macro economy, especially in the manufacturing sector, as businesses seek to diversify their operations in the region.

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