VIETNAM: NEW ERA

In 2024, the Ministry of Industry and Trade successfully achieved and exceeded all targets and tasks, delivering exceptional results across all areas.

In 2024, Vietnam's trade revenue reached 786.29 billion USD, a 15.4% increase compared to 2023. Of this, exports rose by 14.3%, and imports grew by 16.7%. The trade balance recorded a surplus of 24.77 billion USD.

Overseas Vietnamese (OV) continued to make significant contributions to their homeland last year through direct projects, remittances, and engagement in science, technology, and education collaboration, Deputy Minister of Foreign Affairs Le Thi Thu Hang told the press in Hanoi on January 9.

By the end of 2024, the disbursed FDI capital in Vietnam is estimated to reach approximately 25.35 billion USD, up 9.4% compared to 2023, marking the highest disbursement level ever recorded. Total newly registered capital, additional capital adjustments, and foreign investors' capital contributions and share purchases are estimated at nearly 38.23 billion USD.

Foreign direct investment (FDI) in the real estate sector for 2024 reached 3.72 billion USD, making up 18.8% of the total FDI that Vietnam attracted in the year, second only to the manufacturing sector, reported the General Statistics Office (GSO).

At the invitation of Lao Prime Minister Sonexay Siphandone, Prime Minister Pham Minh Chinh along with a high-ranking delegation of the Vietnamese Government, visit Laos and co-chair the 47th Meeting of the Vietnam-Laos Intergovernmental Committee on January 9-10, 2025.

Building a strong brand continues to play a pivotal role in enabling businesses to recover swiftly and grow sustainably in the future, said Vu Dang Vinh, CEO of Vietnam Report JSC, during a ceremony held on January 8 to announce the country’s top 500 largest enterprises in 2024.

European business leaders are increasingly optimistic about the economic prospects of Vietnam whose position as a crucial link in Southeast Asia continues strengthening despite a turbulent global landscape, according to the Q4 2024 Business Confidence Index (BCI) report released by the European Chamber of Commerce in Vietnam (EuroCham Vietnam) on January 8.

Technological innovation, technology transfer, and workforce training form the core strategy for transforming the nature of Vietnam’s economic growth in the coming years, Deputy Prime Minister Ho Duc Phoc remarked at the 17th Vietnam Economic Scenario Forum’s spring 2025 plenary session in Hanoi on January 7.

The average Consumer Price Index (CPI) in 2024 increased by 3.63% compared to 2023, meeting the target set by the National Assembly.

The central city of Hue hosts the Visit Vietnam Year in 2025, promising a significant boost to the local tourism sector based on the land’s rich cultural heritage.

Over the past 53 years since the establishment of diplomatic relations (January 7, 1972 – January 7, 2025), the traditional friendship and Comprehensive Strategic Partnership between Vietnam and India have been consistently strengthened and developed. Both nations share a commitment to mutual cooperation and support, fostering even greater ties for the benefit of both countries.

Vietnam's Gross Domestic Product (GDP) in 2024 is estimated to grow by 7.09% compared to 2023. This growth rate is second only to the figures recorded in 2018, 2019, and 2022 within the 2011-2024 period.

The Vietnamese economy demonstrated remarkable resilience in 2024 and was estimated to achieve a growth rate of 7.09% despite global uncertainties, General Director of the General Statistics Office (GSO) Nguyen Thi Huong said on January 6.

Reforming and restructuring the state apparatus is crucial for Vietnam to make breakthroughs in the new era - which begins with a very important event - the 14th National Party Congress set in early 2026, according to insiders.

A flurry of high-profile decisions this year such as an electricity law update have propped up optimism in Vietnam’s renewables sector, according to an article recently published on a Singaporean website.

The central coastal city of Da Nang has been recognised as the only representative from Vietnam included in travel publication Time Out magazine’s prestigious list of the top eight travel destinations in Asia for 2025.

Dak Nong province has recently been re-certified as a UNESCO Global Geopark for the second time in 2024. The geopark preserves remarkable values of biodiversity, unique cultural heritage, geological significance, natural beauty, and traces of prehistoric human activity. It was first recognised as a UNESCO Global Geopark in July 2020.

The Politburo's resolution on advancing science, technology, innovation, and national digital transformation aims for sustainable development in these fields by 2045, positioning Vietnam as a high-income developed country.

According to the Politburo’s resolution on breakthroughs in science, technology, innovation, and national digital transformation, Vietnam has set ambitious targets for 2030. The country aims to achieve advanced capabilities in science, technology, and innovation across several key fields, ranking among the leading nations in theupper-middle-income group.