Vietnam is Experiencing Stable Economic Growth

2021 has brought momentous change to Vietnam. During the elections in March and April, Nguyen Xuan Phuc became president, Phạm Minh Chinh became Prime Minister and Vuong Dinh Hue became Chairman of the National Assembly

Senior RISS expert Mariya Zelenkova describes Vietnam as the most stable nation in modern South East Asia. It owes this stability to its traditions of leadership continuity and the solidarity of its citizens.

In 2020 the GDP of the Socialist Republic of Vietnam grew by 2.9%. In other words, the Vietnamese economy outstripped even the economy of China, which grew by 2.3%. The Republic is also making excellent progress in fighting the coronavirus pandemic. The number of people who became infected remains low, just as the number of COVID deaths. Vietnam has created two domestic vaccines, which are currently undergoing final testing.

The expert also comments on the renewal of the Russian-Vietnamese relations: the traditional cooperation areas (military technology and energy) are being joined by new ones, such as technology and service, information security and joint resistance against new challenges and threats. Cooperation between Vietnam and the EAEU is making a significant contribution to the development of Russia's and Vietnam's shared potential.

Vietnam economics