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Friday, July 19, 2024

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Vietnam has risen to prominence on the global stage, earning the trust of numerous nations and evolving into a pivotal manufacturing center for multinational corporations. Nonetheless, the nation’s economy and society still grapple with inherent deficiencies that could potentially impede and constrict its future progress. Boosting position and confidence After 28 years of bilateral diplomatic ties being normalized, Vietnam and the United States elevated their relationship to a comprehensive strategic partnership in September 2023. Two months later, Japan joined as Vietnam’s sixth comprehensive strategic partner, following China, Russia, India, South Korea, and most recently, the United States. In the near future, Vietnam is poised to elevate its relationship to a comprehensive strategic partnership with Australia. Amidst a world marked by instability, increasing polarization, escalating disputes among great powers, the potential for military conflicts, weakening globalization, and the emergence of a potential multipolar order, Vietnam’s policy of diversifying and deepening relations with major powers helps mitigate geopolitical risks. This approach also helps offset negative impacts arising from the economic decoupling of major powers. Despite a reversal trend in many emerging economies due to tightening monetary policies in developed countries, foreign investment in Vietnam has shown robust growth. This serves as strong […]
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