A report released on June 2 by the Economic Department under France’s Ministry of Economy and Finance said Vietnam has demonstrated strong resilience and sustained growth amid weaker global trade, prolonged geopolitical tensions and ongoing supply-chain disruptions.

The report noted that Vietnam maintained macroeconomic stability, with inflation kept at around 3.3%, low public debt and sound fiscal balances. These achievements stand out at a time when many economies continue to grapple with inflationary pressures and slower growth.

French analysts described Vietnam as one of Asia’s most dynamic economies, continuing to attract strong foreign investment thanks to its stable political environment, strategic position in global supply chains and ability to adapt to shifting international economic conditions.

The report highlighted that Vietnam’s growth significantly exceeded forecasts by major international institutions, with the World Bank and the International Monetary Fund projecting growth of 6.6% and 6.5%, respectively.

The report also drew attention to Vietnam’s new development strategy. In 2025, the Politburo issued four major resolutions outlining an economic roadmap aimed at achieving high-income status by 2045. To realise this goal, Vietnam is targeting sustained double-digit growth and implementing a large-scale infrastructure programme estimated at 570 billion USD.

France’s Economic Directorate further praised ongoing administrative reforms, including efforts to streamline the state apparatus, reduce intermediary layers and strengthen the role of the private sector.

It said Vietnam’s designation of the private sector as the primary growth driver, alongside its focus on high-tech industries such as artificial intelligence, semiconductors and digital technology, reflects a determination to transform its growth model, improve productivity and deepen integration into global value chains.

However, the report cautioned that Vietnam still faces significant challenges. The economy remains heavily dependent on trade, with the United States accounting for nearly one-third of exports and China supplying more than 40% of imports. This leaves Vietnam vulnerable to shifts in global trade and geopolitical developments.

French experts also pointed to dependence on energy imports from the Middle East, pressure on foreign exchange reserves, rapid credit growth and risks in the real estate sector. As the working-age population begins to decline, Vietnam will need to further enhance labour productivity, improve workforce quality, support private enterprises and continue upgrading the business environment to sustain high growth over the long term.

Overall, the report concluded that Vietnam is well positioned to remain among Asia’s fastest-growing economies. Future success, it said, will depend on the country’s ability to leverage opportunities from international integration while developing new domestic growth drivers to support its ambition of becoming a high-income economy by 2045./. VNA