Vietnam is the new growth engine of Southeast Asia

Anh Vũ |

International press in May-June 2026 simultaneously recorded bright prospects for Vietnam's economy, industry and tourism.

In May-June 2026, foreign newspapers had positive and optimistic assessments of Vietnam in many aspects, from industrial strategy, electric vehicle market to economic prospects and attractiveness to luxury brands.

International economic organizations have given positive assessments of Vietnam's economic prospects. Fortune (USA) on June 15 released the Southeast Asia 500 Ranking, stating that Vietnam has become a new growth engine of the region. Vietnamese businesses in the list achieved total revenue of 177.9 billion USD, a growth of 10.5%, three times the regional average and the fastest in the ranking. Vietnam contributes about 1/4 of the overall revenue growth of the bloc.

Investing. com (UK) on June 16 quoted Fitch Ratings' assessment of maintaining Vietnam's long-term foreign currency debt issuer credit rating at "BB+" with a "stable" outlook, while forecasting real GDP growth in 2026 to be much higher than the average of countries in the same group. Fibre2Fashion (India) on June 17 quoted a report by UOB Bank (Singapore) assessing that Vietnam's economy continues to show significant resilience in the context of increased cost pressure and unstable external environment, with momentum coming from improved manufacturing, strong external demand thanks to technology and stable FDI flows.

Business Today Malaysia on June 24 quoted the S&P Global organization's assessment that Vietnam has emerged as one of the economies benefiting greatly thanks to its solid technological manufacturing capacity and the ability to attract digital infrastructure, especially from the wave of investment in data centers.

Regarding foreign capital flows, Bloomberg news agency (USA) on June 16 reported that foreign investors net bought Vietnamese stocks worth 160.4 million USD on June 15, the largest purchase since September 10, 2020. This is part of a wider buying spree in some emerging markets in Asia, as the de-escalation of tensions in the Middle East creates an ideal context for capital flows to return.

Regarding industrial development strategy, Southeast Asia Analyst (Indonesia) on May 28 said that Nam seems determined to turn flexibility in foreign affairs into a driving force to accelerate long-term industrial development in the period 2025-2030. Dezan Shira & Associates' 2026 Asian Manufacturing Index ranks Vietnam in the top 3 most promising manufacturing centers in Asia thanks to infrastructure expansion, large FTA network, improved business environment and increased technological capacity.

L'automobiliste magazine (France) on May 28 also affirmed that Vietnam is emerging as the market with the fastest rate of electric vehicle popularization in Asia thanks to the strong growth of VinFast and policies promoting green transformation. Vietnam is currently the country with the highest proportion of electric vehicles in total new car sales in Asia.

Along with that, Luxury Tribune (Switzerland) on May 28 commented from a discreet factory in Asia that Vietnam is strongly transforming into an attractive destination for global luxury brands thanks to the leading economic growth rate in Southeast Asia. The attraction is increasing as Vietnam witnesses a wave of tourists from Russia, Korea and Europe flocking to find safe destinations amidst the outbreak of conflict in the Middle East. Accor, Marriott, IHG and Zannier groups are rapidly expanding in Vietnam.

Regarding tourism, Skift (Philippines) on June 2 said that Vietnam is building on one of the strongest tourism growth stories in Southeast Asia through regional partnerships, strengthening aviation connectivity and investment in infrastructure.

Anh Vũ
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