Vietnam has made remarkable strides in socio-economic development and foreign relations in 2024. The country's GDP reached approximately $430 billion in 2023, positioning it among the top 40 economies globally and the top five in ASEAN. Per capita GDP approached $4,300, while the multidimensional poverty rate dropped to 2.9% [66a12c04].
The Deputy Resident Representative of UNDP in Laos, Dao Xuan Lai, emphasized Vietnam's transformation from a planned economy to a socialist-oriented market economy. Vietnam has established trade relations with 230 countries and is a participant in over 500 agreements, including 17 free trade agreements [66a12c04].
In the first 11 months of 2024, foreign direct investment (FDI) reached approximately $31.4 billion, reflecting the country's shift in its economic model from agriculture to services and industrial production. The total import-export turnover is projected to hit $800 billion in 2024 [66a12c04].
In addition to its economic achievements, Vietnam is also enhancing its diplomatic relations. The recent visit by Bulgarian President Rumen Radev aims to strengthen bilateral economic ties as both countries prepare for the 75th anniversary of their diplomatic relations in 2025. In the first ten months of 2024, two-way trade between Vietnam and Bulgaria reached $229.2 million, a 30.3% increase year-on-year [5a3434e5].
Furthermore, Vietnam's relationship with China continues to grow, with bilateral trade reaching $130.78 billion. Vietnam's imports from China rose by 34.25%, and the tourism sector saw a significant increase with 357,000 Chinese tourists visiting Vietnam in May 2024 [9936b9cb].
Vietnam's independent foreign policy has allowed it to deepen relations with 193 UN member countries, earning praise for its role in UN peacekeeping operations. The country is also focusing on enhancing labor productivity and promoting a green economy [66a12c04].
This combination of impressive economic growth and active diplomatic engagement underscores Vietnam's commitment to becoming a significant player on the global stage [5a3434e5][9936b9cb][66a12c04].