Name: The Point 2: Economic expectations for Việt Nam’s National Election | Vietnam Today
Uploaded: 2026-03-19T03:52:00.000Z
Duration: 8 min 21 s
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As Vietnam approaches a new electoral term, the economic performance over the past five years provides an important backdrop for future policy directions.

The period has seen a strong recovery after the pandemic, along with continued efforts to strengthen the country's economic resilience and competitiveness.

In 2021, Vietnam's GDP grew by around 2.6% despite the significant impact of the pand.

And by 2022 the economy rebounded strongly, recording 8.02% growth, the highest level in more than a decade.

Momentum continued in 2023 with GDP reaching around 430 billion USD and growth of 5.5%.

Growth accelerated further in 2024 reaching about 7.9%, exceeding the government's target of between a 6 to to 6.5% even as the global economy faced heightened uncertainty.

Now behind these growth figures are a number of important policies and legal frameworks adopted during the term of the 15th National assembly of Vietnam.

These decisions are expected not only to support the post pandemic economic recovery, but

also to lay the foundation for long term growth.

During the 15 National Assembly, Vietnam faced major global shocks from the COVID 19 pandemic to shifts in supply chains and trade.

Yet many foreign businesses say this period also showed countries ability to adapt, strengthening investor confidence in its development direction.

So I think these these five years where the current national assembly had been in place is really significant time in Vietnam's and global history.

And we have had definitely good good times and bad times with within those years.

I think what is most significant for me is a renewed trust from both foreign investors and Vietnamese people in the government's ability to really execute on priorities.

According to the international business community, clearer economic direction and recent institutional reforms have improved conditions for investment and production.

A very good example from last year was the implementation of the vneid, which brings a lot of clarity, a lot of digital streamlining and this is exactly what it takes to ensure that we are getting here on the right direction for more transparent and also faster decision making and processing.

Because if you look at the recent years in the business confidence surveys we did among the foreign communities, the need for reform, the need for administration improvements, and

in general the whole topic of administrative hurdles and world bureaucracy was definitely exactly what we needed to address.

These reforms have also helped strengthen Vietnam's position in global supply chains.

With its strategic location, improving infrastructure and a wide network of free trade agreements, Vietnam continues to be seen by many international businesses as an attractive investment destination in the region.

Now over the past five years Vietnam has navigated major challenges from the COVID 19 pandemic to shifts in global supply chains.

And during this period, a number of policies and legal reforms have also helped strengthen the investment environment and and sustain the country's appeal to foreign investors.

How have these policies shaped Vietnam's economic development and investment landscape?

And what expectations do businesses have for the next term?

Now to discuss these issues, we're joined by Jack Nguyen, CEO of incorbs Vietnam.

And during that term, a number of policies and legal frameworks were introduced.

So from your perspective, how have those changes affected the investment environment and also day to day business operations?

The past term was really about solving the biggest problem that investor keep telling us.

If you talk to foreign investors five years ago, they say the same thing again.

Dealing with government procedures takes too long sometimes.

But the government listened and took action.

Then in 2024, new laws on land, housing and real estate came into effect.

The government rolled out bigger vision through several important resolutions.

Resolution 57 put technology first AI semiconductors going digital.

Resolution 59 push for even deeper global connections.

Resolution 66 focusing on making our law simpler and clearer.

Resolution 68 sending a strong message to private sector matters and will support it.

And in 2025 we did something even bigger.

We reduced the number of provinces through merger from 63 to 34.

That's almost half the provincial numbers from before.

And that was just about, that wasn't just about cutting bureaucracy.

It was about creating bigger, stronger economic zones around major cities.

So that allows faster decisions, better planning and smoother coordination.

Now I want to take it from the foreign investors perspective.

What parts of Vietn Vietnam's economic policies are they are most paying most attention to right now.

At present, I would say investors are focused on three main areas.

First is the technology and innovation which Vietnam very much wants to attract.

Vietnam wants to become the regional hub for high tech manufacturing, things like semiconductors, AI digital infrastructure.

Secondly is renewable energy and green growth.

Our national energy plan is pushing hard into solar and wind power.

We have 17 free trade agreements, including big ones like CPTPP and the EU deal.

This means companies based in Vietnam can reach most of the world's major markets with lower tariffs, allowing for more trade, more exports.

And in the meantime, when everyone's rethinking their supply chains, that's a huge advantage.

Supply chains globally are moving more and more to Vietnam.

You know what investors ask me now, not why Vietnam?

They ask how fast can we get in and move into Vietnam?

And when you add that to our stable economy, skilled workers and growing infrastructure to these three factors, the answer becomes pretty clear.

And with the upcoming election ahead, what do you expect from the next economic policy direction for the next term?

Yeah, for the upcoming term, 2026, 2031, I hope and expect to see three clear priorities versus growth driven by innovation.

We need to move up into the higher value industry, higher value manufacturing.

That means investing more in science, technology and digital skills.

You can't build a modern economy on roads and ports.

We need to keep investing in transportation, logistics and energy.

And we look around the country now, there's a lot of infrastructure project that is starting, that's being built.

That's what connects our country and supports new industries.

Thirdly, it's making the government hopefully working better.

And restructuring the government, the provinces was a very important first step.

Investors want stability, but they also want speed and clarity.

Thank you for connecting with us and sharing your insights.