Since then, Vietnam has grown steadily while consistently pursuing a path of sustainable development and international integration.
After the historic victory on April 30, 1975, Vietnam entered a new period of national construction and defense amid numerous difficulties: wars at the southwestern and northern borders, threats to national sovereignty in the East Sea, and heavy blockages and sanctions. But Vietnam managed to overcome these difficulties. Since national renewal began in 1986, Vietnam has developed steadily.
A country with backward agriculture, a GDP of US$14 billion and GDP per capita of US$250 in the early years of national renewal, Vietnam managed to escape poverty and strengthen national industrialization and modernization.
By 2019, Vietnam had established diplomatic ties with 189 of the 193 UN members and had trade relations with 224 countries and territories worldwide.
By 2020, Vietnam had signed 15 FTAs, had 16 strategic partners and 11 comprehensive strategic partners, and had participated in 500 bilateral and multilateral trade agreements. 71 countries have recognized Vietnam’s market economy status. Vietnam has become a role model in poverty reduction.
In 2019, 5 Vietnamese billionaires were honored by Forbes Asia among 200 companies with revenue of more than US$1 billion in the Asia-Pacific region. Many Vietnamese businesses have created breakthroughs in industrial production and technology development with numerous ambitious plans to reach out to the world market.
Vietnam was ranked 8th among the world’s best markets for investment in 2019, jumping 15 places from 2018. Vietnam’s competitive index jumped 10 places from 2018 to rank 67th out of 141 countries and territories rated by the World Economic Forum.
The country’s international status rose dramatically in 2020 when it served both as a non-permanent member of the UN Security Council and as ASEAN Chair. As ASEAN Chair for 2020, Vietnam made great strides toward becoming a regional leader.
In 2021, the nation intends to achieve GDP growth of 6% and GDP per capita of US$3,700. During the next five years, it aims to boost economic growth, fine-tune its growth model, enhance innovation, increase productivity, strengthen technology application, improve the quality of its human resources, improve its competitive edge, and accelerate international integration.
Vietnam’s aspiration for development in 2021 and Vision to 2030 reflects its ambition to fully exploit global development, particularly fruits of the 4th Industrial Revolution, and global progressive values in human development.
The country’s sustainable achievements over the past 46 years of national reunification have created a firm foundation for continued growth in the coming years.