Vietnam Aims to Become a Top Economic Hub in Southeast Asia
Vietnam is setting ambitious targets to position itself as a major economic, trade, and investment hub in Southeast Asia by 2030, according to Prime Minister Phįŗ”m Minh ChĆnh.
Speaking at a business forum with 16 leading European corporations, the Prime Minister emphasized that Vietnam aims for GDP growth of over 8% in 2025, with a goal of reaching double-digit growth in the coming years to become a high-income developed country by 2045.
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Vietnamās Economic Progress and Global Recognition
Vietnamās investment climate continues to improve, gaining positive recognition from international institutions:
- Improved competitiveness rankings with a stable credit rating
- E-government development index up 15 places
- Economic freedom index up 13 places
- Top 50 in cybersecurity rankings
This has led global investors to view Vietnam as a key manufacturing hub, deeply integrated into global supply chains.
Strong EU-Vietnam Economic Partnerships
Vietnam and the European Union (EU) celebrate 35 years of diplomatic relations in 2025, with the EU being:
- 4th largest trade partner with $68 billion in trade (up 16% from 2023)
š 5th largest investor with $30 billion in FDI - Top ODA donor with ā¬210 million allocated from 2021-2024
According to EuroCham, 75% of surveyed European firms recommend Vietnam as a prime investment destination, emphasizing the need to boost international awareness of Vietnamās investment and tourism appeal.
Government Reforms to Boost Growth
Vietnam is implementing three strategic breakthroughs to streamline regulations and enhance investment conditions:
- Institutional Reforms: Cutting 30% of administrative procedures to reduce business costs.
- Infrastructure Expansion: Developing financial centers in HCMC & Da Nang, investing in green energy, digital transformation, and logistics.
- High-Quality Workforce: Strengthening vocational training and collaboration with global enterprises.
The Prime Minister urged EU firms to expand operations, transfer advanced technology, and invest in key sectors such as green finance, offshore wind energy, smart manufacturing, and high-tech agriculture.
Future Investment and Trade Prospects
The Vietnam-EU Investment Protection Agreement (EVIPA) is expected to accelerate European investments, with efforts underway to secure ratification from 9 remaining EU countries.
Vietnam also seeks EU support in removing the IUU āyellow cardā on seafood exports, ensuring sustainable trade growth.
Additionally, European corporations, including Bosch, Heineken, Bayer, and DeepC, are keen on industrial real estate, sustainable manufacturing, and innovation projects, highlighting Vietnamās long-term investment potential.
With a fast-growing economy, strong EU partnerships, and business-friendly reforms, Vietnam is well on its way to becoming a premier economic hub in Southeast Asia by 2030.
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