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| Footwear production for export to the EU (Photo: VNA) |
Legaso Vice Chairwoman and General Secretary Phan Thi Thanh Xuan highlighted Vietnam’s global standing as the world’s third largest footwear producer, trailing China and India, and the second biggest exporter. She stated that North America led the export destinations, accounting for 41.4% of footwear and 47% of handbag exports, followed by the EU, with 29.5% and 25,4%, respectively.
Key 16 markets, including the US, China, Japan, Belgium, the Netherlands, the UK, the Republic of Korea, Canada, France, Spain, Italy and Australia, represented over 88.4% of the total export turnover.
Xuan said the industry has showed a strong recovery since late 2023, with major firms securing contracts through mid-2025.
Experts said it is important to develop domestic supporting industry and raw material production to tap the free trade deals to the fullest extent. Besides, the Lefaso proposed the establishment of specialised industrial zones that focus on leather tanning, production of technical fabric, and mold components, with an emphasis on environmental protection.
Vietnam's GDP predicted to surpass Singapore's in 2029
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| Bike production at Thong Nhat Company Limited (Photo: VNA) |
Vietnam’s GDP is forecast to hit 450 billion USD in 2024, placing it 34th globally, Vietnam News Agency quoted data of the UK-based Centre for Economics and Business Research (CEBR).
With an average annual growth rate of 5.8% over the next five years, Vietnam's GDP is expected to surpass Singapore's, reaching 676 billion USD by 2029.
By 2039, Vietnam’s GDP could rise to 1.41 trillion USD, ranking 25th worldwide and becoming Southeast Asia’s third-largest economy, following Indonesia and the Philippines. This significant milestone underscores Vietnam’s resilience amid global challenges.
CEBR projects Vietnam will maintain strong growth compared to regional peers such as Thailand, Malaysia, and Singapore. While global GDP is expected to double from 110 trillion USD in 2024 to 221 trillion USD by 2039, Vietnam is anticipated to outpace many of its ASEAN neighbours in economic expansion.
In terms of GDP per capita, Vietnam is set to cross the upper-middle-income threshold in 2024 with a projected per capita GDP of 4,469 USD. By 2025, this figure is expected to rise to 4,783 USD, officially classifying Vietnam as an upper-middle-income country.
Although Vietnam’s per capita GDP lags behind Singapore, Malaysia, and Thailand, it is forecasted to climb to fourth place among ASEAN-6 nations by 2026, overtaking Indonesia and the Philippines, with a per capita GDP of 6,140 USD, according to the International Monetary Fund (IMF).
To maintain its upward trajectory, Vietnam must focus on improving labour productivity, investing in education, and advancing technology. These efforts are essential to narrowing the income gap with neighbouring countries and solidifying its position as a regional economic leader.
Da Nang to launch new tourism offerings in 2025
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| The city will host numerous high-profile events such as the Da Nang International Fireworks Festival, Asian Film Festival, and Enjoy Da Nang Festival. (Photo: VNA) |
The central coastal city of Da Nang is set to launch an array of new tourism offerings in 2025, including cultural festivals, upgraded attractions, and enhanced coastal amenities, as it aims for more ambitious tourism targets in the year, reported Vietnam News Agency.
According to Director of the municipal Department of Tourism Truong Thi Hong Hanh, the city eyes to welcome 11.9 million visitors next year, marking a 10% increase from 2024. International arrivals are projected to reach 4.8 million, or a year-on-year growth of 17%. Besides, tourism revenue is expected to exceed 36 trillion VND (1.41 billion USD), up 15% from the previous year.
To achieve the goals, the sector will focus on three breakthrough initiatives, namely developing new tourism products, expanding market reach and air routes, and improving service and workforce quality. At the same time, it will pay due attention to promoting digital transformation and strengthening both domestic and international partnerships.
Several major projects are slated for completion in 2025, including Da Nang Museum on Bach Dang Street and significant improvements along the coastal route of Hoang Sa – Vo Nguyen Giap – Truong Sa. The city will host numerous high-profile events such as the Da Nang International Fireworks Festival, Asian Film Festival, Da Nang Food Tour Festival, and Enjoy Da Nang Festival.
Furthermore, market expansion efforts will target key domestic regions, particularly cities with direct flights to Da Nang, such as Hanoi, Hai Phong, Ho Chi Minh City, and Can Tho. The city also plans to maintain growth in established markets like the Republic of Korea and Taiwan (China) while intensifying promotion in Japan, China, and Southeast Asia. In the meantime, Da Nang will expand its reach to potential markets like India, the US, Australia, the Middle East, Russia, and Eastern Europe.
A focus will be placed on luring visitors who seek leisure and relaxation, cultural immersion experience, MICE tourism, golf tourism, and wedding tourism.
Vietnam records its lowest birth rate at 1.91 in 2024
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| A newborn lying in an incubator at the Vietnam National Children's Hospital (Photo: VNA) |
Vietnam has recorded a historic low birth rate in 2024, with the total fertility rate (TFR) dropping to just 1.91 children per woman, marking the third consecutive year below replacement level, reported Vietnam News Agency.
This was revealed on December 27 at the 2024 National Population Conference, where officials expressed growing concern over the nation's demographic challenges.
The decline in birth rates has been steady over the past few years: from 2.11 children per woman in 2021 to 2.01 in 2022, and further down to 1.96 in 2023.
In 2024, urban areas reported a TFR of 1.67 children per woman, while rural areas saw this rate of 2.08, both below the replacement rate.
This trend is most pronounced in urbanised, economically developed regions, reflecting the societal and economic pressures associated with modernisation.
Despite achieving a higher-than-targeted life expectancy of 74.5 years in 2024 (exceeding the planned 73.8 years), Vietnam’s health sector failed to meet two key objectives: addressing gender imbalances at birth and reversing declining fertility rates.
The gender ratio at birth, though improved, remains skewed at 112 boys for every 100 girls.
Speaking at the conference, Deputy Minister of Health Nguyen Thi Lien Hương highlighted the difficulties in encouraging families to have more children, despite ongoing policy adjustments and public campaigns.
She emphasised that the declining birth rate poses challenges to long-term socio-economic development, including aging populations and workforce shortages.
The government also acknowledged persistent issues in providing reproductive healthcare and addressing gaps in services for seniors.
Officials are ramping up efforts as 2025 marks the final year of Vietnam’s 2021 - 2025 five-year plan and the first phase of its National Population Strategy through 2030.
Priorities include enhancing public awareness about family planning and gender equality, encouraging families to have two children and invest in raising healthy, educated, and well-rounded children, and integrating population targets into provincial resolutions and plans.
Deputy Minister Huong also called for reinforcing the organisational framework of population departments across provinces and cities to improve efficiency in addressing demographic challenges.
“Promoting the idea of two-child families, nurturing children well, and building happy, progressive families is crucial,” she stated, urging society to shift its mindset from focusing solely on family planning to a broader perspective of population and development.
Ho Chi Minh City targets green bus network by 2030
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| Ho Chi Minh City looks to have all public buses powered by electricity and green energy by 2030. (Photo: VNA) |
Ho Chi Minh City plans to convert its public bus network to electric and green energy vehicles by 2030, with 100% of new bus routes opened from 2025 using electricity, reported Vietnam News Agency.
This is part of a proposal by the municipal People’s Committee on building a roadmap and support policies for the transition.
Accordingly, diesel and compressed natural gas (CNG)-fuelled buses of subsidised routes will run until their contracts expire. After that, the vehicles over 15 years of use will be replaced with electric or green energy ones.
Meanwhile, CNG buses less than 15 years will continue providing public passenger transport services, but for no more than 15 years of use. Diesel buses no more than 15 years of use will continue providing services until 2029, and their transition will take place between 2025 and 2029.
For non-subsidised routes, 100% of their buses will be replaced by electric ones.
All routes opened from 2025 onwards will use electricity. From 2030, all buses in HCM City will use electricity or green energy.
Public transport operators will be encouraged to implement the scheme ahead of schedule, according to the proposal.
To support the transition, HCM City is set to build electric vehicle charging and CNG filling stations.
From 2025 to 2030, the city will invest in 25 charging stations and 269 charging pillars at coach stations and parking lots managed by state agencies. During 2025 - 2026, it will develop CNG filling stations at the District 8, Nga Tu Ga and new Mien Dong (Eastern) coach stations.
According to the municipal People's Committee, the transition roadmap and support policies will be submitted to the municipal People's Council at a meeting in January next year.
HCM City currently has 138 bus routes with 2,209 buses in operation. Of which, 546 vehicles use clean fuel (CNG and electricity) and the rest use diesel, accounting for 75.3%./.