Viet Nam among ASEAN's five economic powerhouses: Malaysian economist

Saeed grouped Malaysia, Indonesia, Thailand, the Philippines and Viet Nam as the region's "Fabulous Five" (MITPV) economies, saying they are well positioned to shape ASEAN's macroeconomic and investment landscape over the next one to two decades.

He noted that the five economies have become increasingly attractive destinations for global capital, with each offering distinct competitive advantages to international investors.

Among them, Viet Nam is standing out as an export-driven economy and a rapidly expanding manufacturing hub. As global supply chains continue to diversify, the country is strengthening its position as one of the world's leading manufacturing and export centers.

According to Saeed, Viet Nam's competitiveness now extends well beyond low labor costs. The country has built strong industrial capacity, enhanced execution capabilities, expanded export competitiveness and become deeply integrated into global production networks.

He highlighted Viet Nam's solid macroeconomic fundamentals, noting that the economy expanded by around 8 percent in 2025. With a trade-to-GDP ratio approaching 170 percent, Viet Nam ranks among the world's most open economies. Annual exports have surpassed US$400 billion, manufacturing contributes about one-quarter of GDP, and foreign direct investment continues to rise as multinational corporations diversify their supply chains.

Saeed said Viet Nam is steadily moving up the global value chain, making significant advances in electronics, semiconductors, machinery, advanced manufacturing, logistics and digital infrastructure.

He cited Samsung's planned US$1.5 billion semiconductor chip testing facility as further evidence of Viet Nam's growing role in the global semiconductor industry, alongside the presence of major investors such as Intel, Amkor and Hana Micron.

For international investors, Viet Nam's long-term appeal is underpinned by five structural advantages: a competitive and increasingly skilled workforce, strategic proximity to China, expanding industrial infrastructure, strong export connectivity, and flexible policies that support multinational supply-chain diversification./.