Vietnam Company & Beneficial Ownership Directory

Analysis

What this data actually tells you about Vietnam

Vietnam’s economy has been one of the fastest-growing in Asia in the mid-2020s. According to Vietnam’s General Statistics Office (GSO), GDP growth was estimated at 7.09% for 2024, with the economy reaching a nominal scale of about VND 11,511.9 trillion (approximately $476.3 billion) at current prices. GDP per capita reached roughly VND 114 million, equivalent to about $4,700 in 2024, an increase of $377 over 2023. For 2025, the World Bank initially projected 6.8% growth but revised this down to 6.6% mid-year amid tariff pressure, while the IMF’s 2025 Article IV consultation projected growth slowing to around 6.5% for the year. Inflation (CPI) averaged 3.62% in 2024, and the 2025 average stood near 3.3%. The Vietnamese dong (VND) faced sustained depreciation pressure: the USD/VND exchange rate rose about 4.3% over the course of 2024, and the State Bank of Vietnam sold an estimated $9.4 billion in reserves in 2024 to stabilize the currency; by October 2025 the dong had weakened a further roughly 2.9% year-to-date. Structurally, Vietnam’s growth engine remains export-oriented manufacturing, especially electronics — manufacturing value-added stood at 24.43% of GDP in 2024, with the government targeting ~25% by 2025 and 30% by 2030. Counterparties verify a specific counterparty’s current growth and currency exposure directly.

Vietnam’s export economy is dominated by electronics, textiles/garments and footwear. Electronics exports hit a record $126.5 billion in 2024, up about $17 billion year-on-year, with foreign-invested (FDI) firms accounting for roughly 98% of electronics exports. Samsung remains the single largest foreign investor, with cumulative investment of about $23-24 billion; in 2024 Samsung’s Vietnam operations generated $62.5 billion in revenue, equal to roughly 13% of Vietnam’s GDP. Other major electronics investors include Foxconn, Intel (over $1.5 billion invested since 2006) and LG — Vietnam now hosts 174 semiconductor-related FDI projects worth over $11 billion. Total FDI pledges reached about $38.2 billion in 2024, with a record $25.35 billion actually disbursed. Textile/garment exports reached $44 billion in 2024, and footwear exports reached roughly $22.9-23.8 billion, with Nike (~159 factories, ~50% of global footwear output) and Adidas (61 factories, 40-43% of global footwear output) concentrated heavily in Vietnam. This has produced significant US trade friction: on July 2, 2025, President Trump announced a framework imposing a 20% tariff on most Vietnamese exports and a 40% tariff on goods transshipped through Vietnam from third countries. Despite the tariffs, Vietnam’s trade surplus with the US continued climbing, reported at $121.6 billion for the first 11 months of 2025 (up 27.5% year-on-year), with a full-year 2025 figure cited at $178.2 billion. Academic estimates suggest actual transshipped goods represent only around 7% of Vietnam’s imports from China and roughly 16% of its exports to the US, underscoring the definitional uncertainty businesses face under the new tariff regime. Counterparties verify a specific counterparty’s current tariff exposure and transshipment-classification risk directly.

Vietnam’s average population was estimated at 101.3 million in 2024, rising to roughly 102.3 million in 2025. The labor force aged 15+ was near 53.0 million in 2024, with a labor-force participation rate of 68.9%. Two major, well-documented political and administrative developments occurred in this period. First, Communist Party General Secretary Nguyen Phu Trong, Vietnam’s most powerful leader for 13 years, died on July 19, 2024, at age 80. President To Lam, who had already been tasked with managing party affairs the day before Trong’s death, was elected General Secretary by the 13th Party Central Committee with a unanimous vote shortly afterward, consolidating the presidency and top party role; To Lam had previously led the “Blazing Furnace” anti-corruption campaign that resulted in the removal of numerous senior ministers and Politburo members from 2022 onward. Second, Vietnam carried out its most extensive administrative reorganization in decades in 2025: on June 12, 2025 the National Assembly approved consolidating the country’s 63 provincial-level units into 34 (28 provinces and 6 centrally-run cities), abolishing the district level entirely and moving to a two-tier local government model; the new structure took effect July 1, 2025. Eleven provinces/cities (including Hanoi and Hue) were left unchanged, while all others were merged. Counterparties verify a specific counterparty’s current administrative-jurisdiction and governance-structure status directly rather than assume the pre-2025 provincial system still applies.