Under the National Master Plan for 2021-2030 with a vision to 2050, Vietnam strives to reach a GDP growth rate of approximately 7 percent per year during the 2021-30 period. By 2030, GDP per capita at current prices is expected to be around 7,500 USD.
Vietnam’s digital economy has played an important role in the country’s socio-economic development in recent times, and accounted for nearly 15% of GDP in the first half of this year, according to the Ministry of Information and Communications.
Foreign arrivals to Vietnam were estimated to have hit 6.6 million in the first seven months of 2023, surging 6.9-fold compared to the same period last year but still only 67.5% of the figure in the first seven months of 2019, prior to the COVID-19 pandemic.
The US remains the largest importer of Vietnamese goods during the first seven months of 2023 with an estimated turnover of 52.4 billion USD. It was followed by China with a projected figure of 58.6 billion USD.
The Vietnam - Israel Free Trade Agreement (VIFTA) was signed on July 25 and is the latest free trade agreement (FTA) Vietnam is a party to. Joining more FTAs will create significant opportunities for the country to deeply participate in global value chains, increase exports, boost GDP growth, and improve its institutions.