Beijing (VNA) – The People’s Daily, the official newspaper of the Communist Party of China, on February 10 published an article highlighting Vietnam’s strong economic recovery and industrial diversification, with notable achievements in manufacturing, processing and services.
Citing figures from the National Statistics Office under Vietnam’s Ministry of Finance, the article said Vietnam’s gross domestic product (GDP) grew by 8.02% year-on-year in 2025, demonstrating strong resilience amid a sluggish global economic backdrop.
Vietnam has been promoting industrial diversification, with the export sector recording particularly robust growth. In 2025, total import-export turnover rose by 18.2% from the previous year, exceeding 930 billion USD, and maintaining a trade surplus for many consecutive years. Export-oriented manufacturing and processing industries, particularly electronics, textiles and garments, expanded rapidly, helping place Vietnam among the world’s top 20 trading nations.
Last year, Vietnam continued to ease spot import-export standards, implemented preferential import tax policies and simplified tax refund procedures. Spot import-export activities benefited from a value-added tax (VAT) rate of 0%, while high-tech industries and other key sectors enjoyed tax incentives following approval and certification.
According to the article, the Vietnamese Government has introduced a range of measures to attract foreign investment, including simplifying administrative procedures, enhancing business freedom and lowering market entry barriers. Following amendments to the Law on Investment, the approach of “establishing enterprises first, licensing later” has been applied to most sectors, significantly reducing entry obstacles.
Statistics showed that as of December 31, 2025, realised foreign direct investment (FDI) in Vietnam reached 27.62 billion USD, up 9% year-on-year and marking the highest level since 2021. Manufacturing and processing remained the main magnet for foreign capital, accounting for 82.8% of total realised FDI. Singapore, China and Sweden were the largest sources of investment.
Meanwhile, the recovery of the services sector has provided additional momentum for economic growth. The Ministry of Industry and Trade, in coordination with other ministries and sectors, has implemented measures to expand the market share of domestic brands and stimulate domestic demand and consumption.
A preliminary report by the Ministry of Finance revealed that the services sector grew by 8.62% in 2025, contributing 51.08% to national GDP. The rebound in international tourism further supported the sector’s recovery. Vietnam welcomed more than 21.2 million foreign visitors in 2025, up 20.4% year-on-year and setting a new record, with arrivals from China and Russia rebounding strongly.
Growth in domestic consumption and tourism has driven the development of transport, retail, warehousing and catering, contributing to job creation.
At the same time, the People’s Daily noted that Vietnam’s export-oriented economy still faces challenges, including uncertainties in international markets, infrastructure bottlenecks, and the need to promote industrial innovation and upgrading. To reduce dependence on European and US markets, Vietnam has adopted policies encouraging key sectors such as agriculture, textiles, and garments to expand into emerging markets such as India, Africa and Latin America.
Vietnam is also intensifying efforts to secure raw material supplies and promote investment in automation technologies to enhance the competitiveness of its exports in the global market./.
