VIETNAM’S ECONOMIC HIGHLIGHTS IN 2025

Vietnam’s economy saw a series of landmark developments in 2025, from major policy decisions and administrative reforms to infrastructure milestones and the establishment of an international financial center. These events, highlighted in a year-end review by Kinh Te Saigon Online, have laid the groundwork for stronger, more resilient growth in the years ahead.

1. U.S. tariffs put Vietnam’s export resilience to a test

Early in 2025, the U.S. imposed retaliatory tariffs on Vietnamese goods, initially at 46%, threatening key export sectors amid a US$104 billion trade surplus with the U.S. in 2024. Diplomatic engagement and policy adjustments followed, and tariffs were later reduced to 20%. Despite these challenges, exports to the U.S. hit a record US$126 billion in the first 10 months.

2. Four Politburo resolutions shape development strategy

The Politburo issued four major resolutions: on science and digital transformation; private sector development; international integration; and lawmaking and legal enforcement. These measures position technology and innovation as productivity drivers, the private sector as an engine of growth, international integration as a strategic priority, and transparent legal frameworks as a foundation for sustainable development.

3. Stock market upgrade accelerates growth

Vietnam’s stock market has advanced to a secondary emerging market in 2025, according to FTSE Russell. The VN-Index rose around 38%, with average trading liquidity of VND29,500 billion per session and total market capitalization exceeding VND9.68 quadrillion.

4. Ambitious growth target set for 2026

On November 13, the National Assembly approved the socio-economic plan for 2026, aiming for GDP growth of 10% or higher and per capita income of US$5,400–US$5,500. The plan prioritizes macroeconomic stability, inflation control, and industrial development, marking the start of the 2026–2030 plan.

5. Administrative restructuring paves the way for new governance models

Significant administrative reforms reduced the number of provinces to 34 and streamlined district and commune-level divisions. From July 1, a two-tier local government model took effect, with the expanded HCMC expected to emerge as a new growth hub.

6. Vietnam establishes International Financial Center (IFC)

On December 21, the Government launched the International Financial Center with dual hubs in HCMC and Danang. The IFC aims to attract global capital in banking, capital markets, fintech, logistics, and insurance, with a dedicated governance council and specialized legal framework.

7. Gold prices soar as monopoly ends

Domestic gold prices surged, with SJC gold reaching VND157–159 million per tael in late December, nearly doubling from early 2025. The Government ended its 13-year monopoly on gold production, opening opportunities for banks and enterprises to produce and import the yellow metal.

8. Transport infrastructure achieves key milestones

The Eastern North–South Expressway has been opened to technical traffic, regional highways have progressed, and major airports have had new facilities. Nationwide, 3,803 km of expressway has been completed. Rail, smart traffic management and metro projects in Hanoi and HCMC have advanced.

9. Free trade zones and TOD urban projects expand

HCMC and Danang were granted pilot policies for special investment, financial management, and urban development. Projects include free trade zones, transit-oriented development (TOD), and reinvestment of land revenues into infrastructure.

10. Legal frameworks strengthened for next-phase growth

At its recent 10th and final sitting, the 15th National Assembly passed 51 laws and 39 resolutions covering digital transformation, AI, taxation, investment, e-commerce, education, healthcare, and strategic infrastructure projects, laying the legal foundation for Vietnam’s next chapter of growth.

Source: The Saigon Times