“Vietnam’s ‘Golden Era’ is not just a hope. It is already well underway”

Editor’s note: This piece is authored by Singaporean Darren Chua on Vietnam’s achievements on the occasion of the 14th National Party Congress. The global investment strategist and institutional trader shares his perspectives on new growth benchmarks, the country’s human capital advantages, and the competitive landscape between Vietnam and the ASEAN-4.

Darren Chua has over 15 years of experience across Southeast Asian and U.S. capital markets. He used to work at Maybank Investment Bank in Vietnam, and now manages multi-asset portfolios with a focus on high-conviction equity trades and cross-border capital flows at CGS International (Singapore).

The article has been edited by Tuoi Tre News for clarity, consistency, and coherence.

Having lived in Vietnam for 12 years while managing institutional capital flows across Singapore and the U.S., I view this period through two lenses: the disciplined, risk-managed perspective of a Singaporean financier, and the 'on-the-ground' reality of a long-term resident.

Vietnam concluded the 13th Party Congress term as ASEAN’s top performer, with 2025 GDP growth hitting 8.02 percent and the national economy reaching US$514 billion.

The 2024 Land Law and the imminent FTSE Emerging Market upgrade have transitioned Vietnam from a 'tactical' to a 'structural' investment destination.

A new benchmark for growth

The 2021–2026 term will be remembered as the pivotal inflection point where Vietnam transitioned from 'low-cost manufacturing' to 'high-value integration.' Despite global headwinds, the country maintained world-class resilience. With 2025 GDP growth surging to 8.02 percent, Vietnam has established itself as the definitive growth leader of ASEAN and a rare global outlier.

The defining characteristic of this term has been the shift toward quality over quantity. The national economy has expanded to an estimated $514 billion, with GDP per capita officially crossing the $5,000 threshold. We are no longer just discussing assembly lines; the conversation has shifted to semiconductors, digital sovereignty, and a massive leap in logistics.

A cornerstone of this era was the elevation of bilateral ties with Singapore to a comprehensive strategic partnership in March 2025. It was Singapore’s first such agreement with an ASEAN neighbor. This isn't just a political title; it is an economic engine.

Singapore remains one of Vietnam’s leading sources of FDI in 2026. The iconic 'VSIP' (Vietnam-Singapore Industrial Park) model has evolved into VSIP 2.0, focusing on smart, green, and carbon-neutral manufacturing.

Flagship logistics: Unblocking the future

The tangible evidence of this progress is the 2026 public investment budget, set at a staggering VND995.4 trillion ($38.3 billion). The government has decisively shifted to a 'megaproject' strategy to remove the nation’s most critical bottlenecks.

The 'crown jewel' of this term is the Long Thanh International Airport, which officially commences commercial operations in mid-2026. With an initial capacity of 25 million passengers and 1.2 million tonnes of cargo, it is a regional transshipment hub that finally places Vietnam on the global aviation map.

Parallel to this, the country enters 2026 having surpassed 3,300 km of expressways, effectively halving travel times between industrial hinterlands and deep-water ports.

The human capital edge: From hardware to AI

Vietnam’s ascent is also fueled by its intellectual 'soft power.' A prime example is Chip Huyen, the Vietnamese author whose bestseller Designing Machine Learning Systems has become the global playbook for AI engineering.

Her success signals to the international community that Vietnam is no longer just a place where things are assembled, but a place where world-class thinking originates. This STEM-focused workforce is exactly why Singaporean tech firms are increasingly viewing Vietnam as their primary R&D hub in Southeast Asia.

The competitive landscape: Vietnam vs. ASEAN-4

While the 'MIT-PV' group collectively powers the region, the 2021–2026 period has seen a widening divergence in economic strategy. Vietnam has effectively 'out-executed' its peers in three critical areas:

Demographics: While Thailand’s median age has climbed to 40.6 years, signaling an aging labor force and shrinking consumer base, Vietnam remains incredibly agile with a median age of just 33.4, according to DataReportal (Singapore).

Trade velocity: Unlike Indonesia, which relies heavily on raw commodities and domestic consumption, Vietnam has built an export-led economy integrated into high-tech global supply chains via 17+ Free Trade Agreements.

Infrastructure pace: Vietnam’s $38 billion infrastructure blitz in 2026 provides the physical 'haảdware' that its neighbors are still working to authorize.

A structural confidence

My own investment philosophy has shifted from 'short-term tactical' to 'long-term structural.' My confidence was solidified by the 2024 New Land Law and the FTSE Emerging Market upgrade slated for later this year. By removing 'pre-funding' requirements for foreign investors, Vietnam has signaled it is a sophisticated global player ready for the 'premier league' of international finance.

Vietnam’s ascent has significantly altered the economic rankings of Southeast Asia. As we look toward the 14th Congress, the foundation suggests that Vietnam’s 'Golden Era' is not just a hope. It is already well underway.