Southeast Asia Information Port (www.dnyxxg.com) reported on November 6th that Singapore's *Business Times* published an article pointing out that Vietnam has emerged as a leading new-generation trade hub in ASEAN, thanks to its strong production capacity and sustained export growth. Simultaneously, the Vietnamese government is increasing investment and actively promoting a series of ambitious reform initiatives to achieve its 2026 economic growth target.
The article argues that Vietnam's continued improvement in competitiveness is driving its gradual rise as one of the world's important manufacturing centers.
According to a report released on November 5th by Allianz Research and Economic Analysis, Vietnam ranks second in the list of potential new-generation trade hubs globally, second only to the UAE. This achievement is mainly attributed to strong export growth and the new tariff agreement reached with the United States, further consolidating Vietnam's position as a key hub in the "restructuring" of Asian industrial chains.
The report emphasizes that Vietnam has effectively enhanced its international influence by continuously signing new free trade agreements, maintaining competitive labor costs, and promoting export diversification. Furthermore, Vietnam is actively seizing the opportunities presented by regional industrial transfer and trade regionalization.
Despite facing multiple challenges including rising global tariffs, supply chain restructuring, and geopolitical tensions, Vietnam's export sector has demonstrated strong resilience. Data shows that Vietnam's merchandise exports reached US$42.1 billion in October 2025, a year-on-year increase of 17.5%; in the first ten months of 2025, the country's total import and export volume increased by 16.2% and 18.6% respectively. However, after seasonal adjustment, exports in October declined by 3.5% month-on-month, indicating that the new US tariff policy has already had a substantial impact on the Vietnamese economy.
Adam Ahmed Samuddin, an economist at Oxford Economics, stated that US tariff measures may affect Vietnam's export growth in 2026. However, demand for artificial intelligence-related infrastructure is expected to remain stable, which is expected to partially offset the negative impact of tariffs.
On the other hand, Vietnam's manufacturing sector showed a strong recovery at the beginning of the fourth quarter of 2025. S&P Global data shows that Vietnam's manufacturing purchasing managers' index rose significantly to 54.5 in October from 50.4 in September, reflecting a clear rebound in output and new orders, with new export orders achieving their first increase this year.
Tourism is another major highlight of Vietnam's economy in 2025. In October, Vietnam received 22.1% more international tourists than in September, a 22.1% increase, demonstrating Vietnam's continued growing attractiveness as a tourist destination.
Samdin pointed out that although personal consumption growth has peaked and real wage growth has stabilized, the tourism industry will continue to play a supporting role in domestic spending.
The report also shows that Vietnam's inflation rate fell to 3.25% in October 2025. Public investment disbursements increased by 29% compared to September 2024, continuing the strong momentum of the third quarter. Meanwhile, the 10th session of the 15th National Assembly proposed setting the fiscal deficit target for 2026 at 4.2% of GDP, higher than 3.1% in 2024, reflecting the government's firm determination to promote economic growth through increased spending.
Foreign investment is accelerating in the Vietnamese market. From January to October 2025, Vietnam utilized US$21.3 billion in foreign direct investment, an 8.8% increase year-on-year, the highest level for the first ten months since 2007.
Furthermore, registered foreign investment reached US$31.52 billion, a year-on-year increase of 15.6%, fully reflecting investors' confidence in Vietnam's long-term economic development prospects. (End)
