Since the implementation of the Open Door policy in 1986, the Vietnamese government has tirelessly worked to improve the investment environment by adopting liberal legal policies and engaging in global free trade agreements. After over 30 years of relentless effort, Vietnam's economy is increasingly integrated into the world economy, exemplified by the following:
Vietnam has signed various free trade agreements including the:
- Trans-Pacific Partnership (TPP),
- ASEAN,
- Vietnam - ASEAN,
- Vietnam - Japan,
- Vietnam - Chile,
- Vietnam - South Korea,
- Vietnam - EAEU,
- Vietnam - EU,
- ASEAN - Japan,
- ASEAN - North Korea,
- ASEAN - Australia/New Zealand,
- ASEAN - India,
- ASEAN - China
Furthermore, negotiations are underway for significant agreements such as the:
- Regional Comprehensive Economic Partnership (RCEP) involving ASEAN+6,
- ASEAN - Hong Kong,
- Vietnam - EU,
- Vietnam - EFTA (European Free Trade Association),
- Vietnam - Israel
Thanks to these endeavors, Vietnam's economy has experienced remarkable development. Opening up markets, expanding trade relations, and attracting foreign investments have laid the foundation for rapid growth. Vietnam has leveraged its competitive advantages, boosted exports, and fostered the development of industries, services, and tourism. Strong integration into the global economy has provided new opportunities for Vietnamese businesses to participate in global supply chains and expand their operations.
With ongoing negotiations and the promotion of a favorable investment environment, Vietnam has the potential for continued robust economic development. Participation in free trade agreements and deep integration into the world economy have enabled Vietnam to create sustainable growth opportunities, improve the living standards of its people, and contribute to the comprehensive development of the region and the world.