Viet Nam’s growth within ASEAN
Once among the smaller economies in ASEAN, Viet Nam has made great strides towards economic modernisation, emerging as a manufacturing powerhouse and a promising hub for services industries.
Since joining the association in 1995, Viet Nam has consistently been among the fastest growing economies in the region in terms of GDP growth, foreign direct investment and middle income population growth.
Our report “The Future of ASEAN – Viet Nam Perspective” provides insights into the country’s evolving position within the South East Asian region, highlighting key potential sectors as well as challenges and solutions for the onward journey.
With double digit credit growth, rising middle income and digital adoption, Viet Nam holds great potential for the financial services sector. The country’s low financial market penetration presents both untapped market opportunities as well as distinct challenges when compared to its ASEAN peers.
Read our report to find out whyViet Nam’s strong consumer confidence and rising household income levels have contributed to an overall increase in consumer spending. This has given rise to regional sourcing and manufacturing of goods, as well as expanding e-commerce activities.
See more in our reportBoosting infrastructure development is vital to Viet Nam’s ability to maintain its competitiveness. The government is speeding up plans to attract more private investment in this area, especially for transport infrastructure.
Download our report to know moreSustaining the growth journey
For ASEAN to fulfill its potential, member countries, including Viet Nam, need to move away from passive growth and take more proactive measures to drive its economy. Emerging countries in the region will have to address a number of challenges holding them back, including
- Over dependence on external trade
- Fiscal vulnerability
- Institutional void
- Low technology readiness
Our report lays out the fundamental solutions to tackle these challenges.
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Get in touch
Get in touch
Nguyen Hoang Nam
Environmental, Social & Governance (ESG) Leader and Partner, Assurance Services, PwC Vietnam
Tel: +84 28 3823 0796
Johnathan Ooi Siew Loke
Partner, Deals and Consulting Services Leader, PwC Vietnam
Tel: +84 28 3823 0796