Hanoi - Vietnam is actively reshaping its diplomatic approach as it works toward becoming a middle power by 2045. This goal aligns with the centenary commemoration of the establishment of the Republic of Vietnam in 1945.
Indeed, it represents the country’s broader ambition to ramp up its international profile through strategic partnerships, economic growth, and diplomatic resilience.
Most importantly, as a member of ASEAN, Vietnam is now ready to lead the bloc after three decades of integration and master the ASEAN way.
Recent geopolitical shifts have compelled Hanoi to be even more forward-looking in international affairs. Under the leadership of Secretary General To Lam and Prime Minister Pham Minh Chinh, the country is implementing significant reforms aimed at enhancing efficiency and reducing bureaucratic redundancy.
In other words, these domestic reforms will be critical for the country to chart its diplomatic pathways in a multipolar world.
At the 13th National Congress in 2021, the Communist Party of Vietnam (CPV) envisioned Vietnam as a high-income developed economy by 2045. Before reaching this noble goal, all eyes are set on 2030, when the CPV will celebrate its centennial as a developed nation with a modern industry and a high middle-income status.
In addition, as Vietnam marks 30 years of ASEAN membership, apart from consolidating its ASEAN identity, Hanoi is also strengthening its regional partnerships.
The country recently upgraded its relationship with Malaysia to a comprehensive strategic partnership, reflecting deeper trade, investment, and security cooperation.
From March 9-13, To Lam is scheduled to visit Indonesia and Singapore to reinforce ties and expand collaboration in critical sectors such as trade, technology, and digital transformation.
Vietnam's economic relationships within ASEAN are growing steadily. Trade with Indonesia surpassed $14 billion in 2023, with both countries exploring new opportunities in electric vehicles, the digital economy, and technological innovation.
Likewise, Vietnam’s trade with Singapore reached $9 billion, making it a key investor in the country. Singapore's investments in Vietnam span diverse industries, from real estate and manufacturing to fintech and renewable energy, reinforcing their strong economic partnership.
Beyond bilateral trade, Vietnam, Indonesia, and Singapore share a commitment to multilateralism and regional stability. They are united in their approach to key issues such as the South China Sea, advocating for a practical and efficient code of conduct to ensure peace and stability in the region.
Vietnam, a claimant in the South China Sea dispute, has emphasized its role as a regional stabilizer, given its ability to engage with major powers while preserving ASEAN’s centrality.
To Lam's diplomatic efforts align well with Vietnam's well-known "bamboo diplomacy" strategy, which focuses on flexibility, resilience, and adaptability in foreign relations. Hanoi has utilized its flexible and balanced approach to forge new friendships and diversify its trading partners.
Vietnam's aspirations go beyond Southeast Asia. The country is deepening its engagement with major global powers, including the US and China. With China, Vietnam has robust economic ties and a highly interconnected trade network. At the same time, Vietnam has strengthened economic and defense cooperation to balance its strategic interests.
Europe also plays a significant role in Vietnam's expanding global outreach. The EU-Vietnam Free Trade Agreement (EVFTA) has facilitated increased trade flows and investment, particularly in high-tech industries, green energy, and sustainable development.
As Vietnam seeks to enhance its global footprint, leveraging its relationships with both Western and Eastern economic blocs will be crucial to sustaining long-term growth and geopolitical stability.
Economic integration remains a cornerstone of Vietnam’s growth strategy. The country benefits from a network of bilateral and multilateral trade agreements, such as the Vietnam-EU Free Trade Agreement (VEFTA), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Regional Comprehensive Economic Partnership (RCEP). These agreements have bolstered Vietnam’s export and manufacturing capacity.
Vietnam’s focus on innovation and technological advancement is also reshaping its economic trajectory. The government is heavily investing in digital infrastructure, artificial intelligence, and startup ecosystems to drive the next phase of its industrial transformation.
This push toward a knowledge-based economy is crucial for Vietnam’s ambition to transition to an upper-middle-income country by 2045.
Vietnam’s dynamic role in ASEAN and beyond demonstrates its proactive diplomatic strategy. Furthermore, it lays a firm pillar for its future as a middle power.
