The Phnom Penh Post (Cambodia) said that by 2030, ASEAN is forecast to become the fourth largest economy in the world. Malaysia, Indonesia, Philippines and Vietnam will lead ASEAN's economic development in 2026, creating a foundation for the bloc's long-term economic expansion. These economies are supported by a young workforce, increasing domestic consumption and continuous foreign direct investment inflows.
Currently, Vietnam is the fastest growing economy in Southeast Asia, reaching GDP growth of 8.02% in 2025, surpassing neighboring countries such as Indonesia, Philippines and Thailand. Vietnam's economic growth is driven by solid structural strengths, such as a young population (about 106 million people in 2025), relatively high employment rate, and a generally stable monetary and political environment. Vietnam benefits from lower operating costs due to lower wages and lower electricity prices compared to most ASEAN countries. As a result, Vietnam attracted 38 billion USD of foreign direct investment (FDI) in 2024, focusing on artificial intelligence, advanced manufacturing and high-tech industries.
Trang Minh Viet Thuong Bao (China) commented that after a period of strong recovery in 2024-2025, Vietnam entered a new stage of development with a more stable macroeconomic foundation, inflation is controlled and economic indicators operate within a reasonable threshold. Unlike previous cycles, this recovery is built on a new foundation, with a clear transformation orientation and better resilience to global fluctuations. Looking back at the past 2 years, Vietnam has not only filled the growth gap but also reshaped the economic structure. Vietnam has kept inflation under control, key economic indicators maintain a healthy trajectory, stable exchange rates, abundant foreign exchange reserves and improved fiscal space have created a solid "wavebreak" for the economy.
Vietnam's advantages are low-cost labor, overall competitiveness: Strategic location on Asian trade routes, increasingly complete industrial foundation, a network of free trade agreements covering major economies, and abundant labor force with reasonable costs and potential for improving skills. These factors help Vietnam become one of the prominent destinations when multinational corporations restructure their global supply chains.
Abhs. in (India) assesses that Vietnam is no longer a low-cost technology manufacturing destination, but has become a serious choice for leading technology companies in the world thanks to tariffs and labor costs. Vietnam wants to build its own chip industry, not just simply assemble hardware from other countries.
S&P Global financial group announced the Purchasing Managers' Index (PMI) of Vietnam's manufacturing sector, according to which Vietnam's manufacturing sector in February 2026 grew at the fastest rate in the past 4 months thanks to strong increases in output and new orders. Vietnam's manufacturing PMI in February 2026 increased to 54.3 points, compared to 52.5 points in January 2026, marking the 8th consecutive month of improved business conditions.
Manufacturing output increased rapidly in February 2026, with the highest growth rate in the past 19 months. New orders increased for the 6th consecutive month, with the fastest growth rate since October 2025. The growth momentum continued despite new export orders not changing compared to January 2026, although some businesses said the international market is still unstable. Business confidence increased for the 5th consecutive month, to the highest level since September 2022. Market demand improved along with the prospect of new orders continuing to increase, contributing to strengthening businesses' optimism about output in the coming time.
