Shantanu Chakraborty, Asian Development Bank (ADB) country director for Vietnam

Investor confidence further strengthened

Vietnam recorded strong economic performance during 2021-2025 despite the severe impacts of the Covid-19 pandemic and heightened global uncertainties arising from prolonged geopolitical tensions. The country remained among the fastest growing economies in Southeast Asia, reflecting its solid macroeconomic fundamentals and effective policy measures.

Macroeconomic stability - underpinned by prudent fiscal management and proactive, flexible monetary policy - was a key contributor to this resilience throughout the period. Growth was driven primarily by exports, robust FDI, public investment, and rising domestic consumption.

FDI continued to be a key driver of Vietnam’s economic growth. Strong and sustained investor interest, particularly from long-term partners, underscores the country's attractiveness as an investment destination. Political stability, sound macroeconomic management, and continued improvements in the business and investment environment further strengthened investor confidence.

Nonetheless, several challenges persisted. External risks included global economic instability and broader geopolitical tensions that affected global trade and, in turn, Vietnam’s export performance and FDI inflows. Domestically, infrastructure gaps continue to elevate logistics costs and constrain economic efficiency. A shortage of skilled labor - particularly in high-tech and emerging industries - poses a challenge that could hinder long-term growth, and also impact the FDI sector.

Vietnam achieved impressive economic results in 2025, with growth surpassing 8%. This outcome reflects the accelerated implementation of institutional reforms, improvements in public investment disbursement, and the country’s ability to benefit from the global supply chain realignment. The government has demonstrated consistent policy direction, including efforts to strengthen the legal framework, promote private sector development, and advance digital transformation.

According to ADB’s latest projections, Vietnam's economy is expected to continue to grow at a significant pace, with growth forecast at 6.4% in 2026. Stable domestic demand, continued steady increase in public investment, sustained FDI, and export-oriented industrial production will maintain the growth momentum in 2026.

Looking ahead, achieving more ambitious, sustainable, and potentially double-digit growth will require Vietnam to further strengthen domestic demand and leverage external demand. Vietnam needs to further accelerate the effective implementation of policies that support innovation and promote science and technology development to enhance its competitiveness and added value in the global supply chain.

Tan Quee Peng, president of the Singapore Chamber of Commerce in Vietnam (SingCham Vietnam)

Continued inflows of high-quality FDI reflect investor confidence

in Vietnam’s long-term fundamentals

As president of the Singapore Chamber of Commerce in Vietnam, I wish to foremost congratulate Vietnam on the country's 14th National Party Congress.

Vietnam’s achievements during the 2021-2026 period have been both resilient and transformative, especially given the extraordinary global disruptions of the Covid-19 pandemic and subsequent geopolitical volatility.

Economically, Vietnam has demonstrated strong recovery capacity and policy agility. The country restored growth momentum quickly after the pandemic, maintained macroeconomic stability, and reinforced its position as a key manufacturing and investment hub in Asia. Continued inflows of high-quality FDI - particularly in electronics, renewable energy, and industrial real estate - reflect investor confidence in Vietnam’s long-term fundamentals.

The government’s commitment to infrastructure development, digital transformation, and administrative reform has further strengthened the business environment. Vietnam’s proactive participation in major free trade agreements has also deepened its integration into global value chains and enhanced export competitiveness.

Looking ahead to the 14th Party Congress tenure (2026-2031), I foresee Vietnam to enter a more sophisticated phase of development. The focus is likely to shift from purely growth-driven metrics toward productivity, innovation, and sustainability. Key priorities will include upgrading human capital, accelerating the green transition, and moving up the value chain in manufacturing and services. Digital economy development, smart infrastructure, and renewable energy will be critical drivers of the next growth cycle.

For Singaporean and international businesses, Vietnam’s next chapter presents significant opportunities - not only as a production base, but increasingly as a regional innovation and consumption market. With consistent policy direction and continued reform momentum, Vietnam is well positioned to achieve upper-middle-income status and play a more influential role in the regional and global economy.

My best regards to the 14th National Party Congress as Vietnam moves forward into the next exciting phase of development and leadership in Southeast Asia.

Suan Teck Kin, head of research, UOB

Vietnam’s exports have been increasingly driven by FDI firms

Vietnam’s economy has made significant progress in 2021-2025 – economic growth rebounded sharply from the Covid-hit low of 2.55% in 2021, to achieve above 8% in 2025. Per capita income was at $3,700 in 2021 and hit $4,500 in 2024 and is expected to reach $4,700 in 2025 based on IMF data, an increase of 27% in five years. Total exports expanded even more sharply, increasing by 40% from $335 billion in 2021 to $473 billion in 2025.

Foreign investment is one of the main drivers of this expansion, by expanding manufacturing capacity, creating jobs, and implementing modern production processes and technologies.

Annual FDI inflows increased from $19.7 billion and accelerated to a fourth consecutive year of record high in 2025, at $27.6 billion, as global supply chains restructured more rapidly after U.S.-China trade tensions and the global pandemic. This is reflected in the contributions of FDI firms’ to Vietnam’s exports – their share of Vietnam exports rose from 73% in 2021 to a record high of 76% in 2025, meaning that Vietnam’s exports have been increasingly driven by FDI firms, supported by strong FDI inflows. In 2018-2019, the average was only about 70%.

We anticipate the growth momentum of Vietnam to continue at around 7% annually in the coming years, following the exceptionally strong 8% in 2025. FDI inflows over the past few years - and likely in the years ahead - will continue to lay the foundation for stronger manufacturing capacity and uplift in technology and production processes in the coming years, thus underpinning overall economic growth.

At the same time, the government will need to ensure that infrastructure development keeps pace to support investment inflows, tourism and domestic needs – these include electricity, water, transportation (land/air/sea), digital infrastructure, healthcare, education, etc. Increased investment is needed to enhance infrastructure to ensure that Vietnam is able to stay competitive in costs and efficiency, thereby attracting further inflows.

Bui Khanh Nguyen, vice president of public affairs, communications and sustainability, Coca-Cola Beverage Vietnam Ltd., Co.

Vietnam reaffirms its position as leading regional FDI destination

The FDI sector continues to play a crucial role, contributing not only capital, technology, and jobs, but also fostering innovation, improving governance standards, and promoting sustainable development practices. We are pleased to see that Vietnam is increasingly recognized by the international business community as a strategic destination for long-term investment.

Coca-Cola Vietnam is proud to have supported Vietnam's development for over three decades. Our consecutive recognition with the Golden Dragon Award and the CSI Star Award from the Vietnam Chamber of Commerce and Industry (VCCI) reflects our commitment to long-term investment, legal compliance, and sustainable contributions.

We believe Vietnam will continue to strengthen its position as a leading FDI destination in the region, and Coca-Cola Vietnam is committed to continuing to invest, innovate, and support inclusive growth and sustainable development goals in the years ahead.

Over the next five years, we expect Vietnam to sustain strong and sustainable growth momentum. The launch and completion of large-scale infrastructure projects such as Long Thanh International Airport, the North-South Expressway, seaports, logistics centers, and new urban areas will enhance Vietnam's capacity to move up the global value chain and deepen its participation in global trade.

With confidence in Vietnam's development potential, Coca-Cola Vietnam is committed to deepening our long-term investment and partnership with the country in the coming years. In 2025, we demonstrated this commitment by inaugurating the Coca-Cola Southern Vietnam Plant in Tay Ninh province, with an investment of $136 million. This is the first food and beverage facility in Vietnam to achieve LEED Gold certification.

We believe that Vietnam is entering a new phase of development with a long-term vision and a solid foundation, and Coca-Cola Vietnam is proud to be a partner in, and contributor to, that journey.