The Key Influencing Factors of Vietnam's Economic Integration into the Global Economy

Tóm tắt

This article examines the key factors, influencing Vietnam's international economic integration, tracing its journey from the Renovation (Doi Moi) reforms to becoming an important player in the global economy. Key domestic reforms, such as equitization (privatization), deregulation, and infrastructure development, have laid the foundation for Vietnam’s rapid growth. The country’s active participation in international trade agreements, including the WTO and recent free trade agreements has opened significant opportunities for export and import, enabling a deeper economic integration process. Foreign direct investment has played a crucial role in the expansion of Vietnam's manufacturing sector, contributing to its industrial growth, improvement of managerial skills, and technology transfer. Geopolitical shifts, stemmed from the U.S.-China trade war, the Covid-19 pandemic, and geopolitical tensions have also  accelerated supply chain realignment, benefiting Vietnam. Despite its integration progress, Vietnam faces multifaceted challenges such as environmental degradation, labor rights
issues, and infrastructure gaps. The article emphasizes that addressing these obstacles will be critical for Vietnam to sustain its economic momentum and deepen its global integration in the coming years.