Vietnam’s steady climb in international rankings highlights its economic strength, governance improvements, and expanding diplomatic influence. As the country enters 2025, it remains committed to accelerating growth and enhancing its global presence.
Editorial Note:
Tet (Lunar New Year) is a time for reflection, family reunions, and embracing new beginnings with optimism.
As we welcome the Year of the Snake, VietNamNet shares stories about Tet, Vietnam’s national standing, and the nation’s journey toward growth and transformation.
Achievements in 2024
Despite global uncertainties, Vietnam’s economy in 2024 demonstrated strong and positive growth.
Total realized investment increased by 7.5%, while foreign direct investment (FDI) reached a record high of $25.35 billion.
Employment remained stable, with an estimated 51.9 million people employed - an increase of 585,100 compared to 2023.
The average monthly income of workers rose to $315, up by $25 from the previous year. GDP growth stood at 7.09%, with agriculture, forestry, and fisheries expanding by 3.27%, industry and construction by 8.24%, and services by 7.38%.
Vietnam is expected to continue strong growth in 2025. (Photo: Hoang Ha)
Vietnam’s international trade also flourished, with total export-import turnover reaching $786.29 billion—an increase of 15.4% from the previous year.
Exports grew by 14.3%, while imports rose by 16.7%. 2024 marked the ninth consecutive year of trade surplus, amounting to $24.77 billion.
Inflation was effectively controlled, with the consumer price index (CPI) rising by 3.63%, staying within the National Assembly’s target range of 4-4.5%.
Vietnam’s multilateral foreign policy continued to yield remarkable results. By the end of 2024, the country had established diplomatic relations with 194 nations and territories, fostering strategic partnerships with major global powers and international organizations.
Vietnam also became an increasingly attractive tourist destination, welcoming nearly 17.6 million international visitors - a 39.5% increase compared to 2023.
Economic quality also improved in 2024. GDP per capita at current prices reached approximately $4,700, an increase of $377 from 2023.
National labor productivity was estimated at $9,182 per worker, up by $726. Social welfare programs were effectively implemented, with the multidimensional poverty rate dropping to around 1.9%.
Vietnam’s global standing
In his New Year 2025 message, "Innovation, acceleration, and breakthroughs: Leading Vietnam into an era of prosperity and development," Prime Minister Pham Minh Chinh highlighted Vietnam’s impressive achievements in 2024.
The country remains a strong performer in economic growth, ranking among the fastest-growing nations regionally and globally.
So, where does Vietnam stand on the global stage? National rankings are often assessed based on factors such as land area, population, economic scale, military strength, financial capabilities, cultural influence, geopolitical importance, economic freedom, governance efficiency, and societal progress.
While no ranking fully encapsulates a nation's position, global indices provide valuable insights into what is referred to as national position.
This concept is shaped by both quantitative factors (objective measurements) and international perception (subjective recognition). A country's position influences its power, credibility, and influence in regional and global structures.
Vietnam will keep striving to overcome challenges and reach new heights, not only in 2025 but throughout its journey toward reshaping its national position by mid-21st century. (Photo: Pham Hai)
In 2024, Vietnam improved its standing across multiple international rankings:
Sustainable Development Goals (SDGs) Index: Ranked 54th out of 166 countries (up one spot from 2023)
Economic Freedom Index: Ranked 59th out of 176 (up 13 places)
Global Innovation Index: Ranked 44th out of 132 (up two places)
National Brand Value: Estimated at $507 billion, ranking 32nd out of 193 (up one spot)
Asia Power Index: Ranked 12th, with a 1.2-point increase from 2023
World Happiness Index: Ranked 54th out of 143 countries, improving by 11 places
Vietnam's upward movement in these rankings reflects its economic scale, investment appeal, international diplomacy, and social development. These positive signals indicate that Vietnam is strengthening its role and influence on the global stage.
Commitment to breakthroughs
Vietnam’s progress in 2024 lays a solid foundation for the country’s long-term development ambitions:
By 2030: Become a developing nation with a modernized industrial base and upper-middle-income status
By 2045: Attain high-income, developed-nation status
However, despite these achievements, Vietnam faces both short-term and long-term challenges. Prime Minister Pham Minh Chinh has emphasized the nation's commitment to breakthroughs, setting a minimum GDP growth target of 8% for 2025 - or higher if conditions allow. A successful 2025 would set the stage for double-digit growth from 2026 onward.
At the macro level, key challenges include:
Macroeconomic stability remains vulnerable to external risks
Pressures related to exchange rates, interest rates, and inflation
Certain industries still struggle, with weak consumer demand recovery
Infrastructure projects face bottlenecks, and public investment disbursement lags behind expectations
Socioeconomic disparities between regions and income groups remain significant
A portion of the population continues to face economic hardship
Institutional reforms remain a critical bottleneck that must be addressed to unlock growth potential. Furthermore, human capital development is a decisive factor in achieving Vietnam’s long-term development goals.
Vietnam’s leadership has a clear and resolute vision for the country’s economic and social future. As the government’s motto states:
"With Party leadership, government unity, parliamentary support, public consensus, and national expectations - there is no turning back, only progress."
With this determination, Vietnam will continue striving to overcome obstacles, climb new heights in 2025, and lay the groundwork for a transformative shift in national standing by mid-21st century.
Vietnamnet.vn
Podcast
.svg){kind=icon}
