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S&P’s operations have significantly contributed to the development of Việt Nam’s financial market, enhancing market confidence through credit ratings.

The duties not only aim to level the playing field for local manufacturers, but have also instilled renewed confidence among investors.

The UK’s exports of goods to Việt Nam grew by 9.9 per cent last year, and the country is aiming to maintain this momentum in 2025.

Ensuring an adequate electricity supply for 2025, given this relatively high demand growth, will be a challenge, especially since the progress of new power projects has not yet aligned with this growth.

The Vietnamese government is demonstrating a high determination in promoting public investment, focusing on numerous strategic infrastructure projects that connect economic centres. This will serve as an important launching pad for Vietnam to enter a new era – the era of the nation’s rise, according to HSBC.

Vietnamese commercial banks are optimistic about their 2025 profit targets, with many expecting increases of 20 per cent to 30 per cent due to anticipated robust economic growth and a resurgence in credit activity.

Export markets, such as South Korea and Japan, have their own regulations and do not ask for the conformity certification mandated by the Vietnamese government, leaving local businesses with extra costs and time wasted on paperwork.

The scarcity of affordable housing is a factor that pushes prices up, according to an economist.

To protect the interests of Vietnamese export businesses, authorities have advised associations and exporters to thoroughly study the updated US trade defence regulations before exporting goods there.

Lobster exports accounted for nearly half of Việt Nam’s total seafood export turnover to China in January.