Buenos Aires (VNA) – The Argentine website El Tiempo recently published an article by journalist and scholar Gastón Fiorda, who has spent many years researching Vietnam, praising the country's economic development model and effective diplomatic strategy.
In the article, Fiorda affirmed that Vietnam is currently one of the strongest economies in Southeast Asia, attributing its success to the socialist-oriented market economy model implemented since the launch of the Doi Moi (renewal) policy in 1986.
Vietnam has fostered the growth of a multi-sector economy, with the participation of both the private and foreign invested sectors. Nevertheless, the state continues to exercise strategic control over key sectors such as energy and mining to ensure economic sovereignty, while also attracting investment and advancing the technology sector.
In 2024, Vietnam’s economy expanded by 7.09%, accompanied by a notable 14.3% increase in exports, reaching 405.53 billion USD. Foreign direct investment (FDI) also surpassed 38 billion USD for the year, placing Vietnam among the top 15 global destinations for foreign capital.
In the first quarter of 2025 alone, Vietnam attracted over 11 billion USD in FDI—a sign of strong confidence in its economic development model, Fiorda noted.
China, the US, and the European Union are Vietnam’s primary trading partners. In 2024, trade volume with China exceeded 205 billion USD, while trade with the US reached nearly 150 billion USD.
Beyond its economic achievements, Fiorda emphasised Vietnam’s deep integration into the international community. Vietnam has proactively participated in regional forums such as the Association of Southeast Asian Nations (ASEAN) and its affiliated bodies, including the ASEAN Free Trade Area (AFTA), ASEAN Regional Forum (ARF), and ASEAN Investment Area (AIA). It has also been active in global platforms such as the Asia-Pacific Economic Cooperation (APEC) and the World Trade Organisation (WTO), enhancing its economic and geopolitical standing.
The article concluded that in a world undergoing significant transformation, Vietnam stands out as a unique example of stability, growth, and pragmatic diplomacy. With effective governance and an open economy, Vietnam is poised to continue asserting itself as a reliable and dynamic player within ASEAN in the years to come./.
