Vietnam reports record EV orders, strong growth and new trade deals

Vietnam continues to operate under a unitary communist system led by Party General Secretary and President Tô Lâm, Prime Minister Lê Minh Hưng and National Assembly Chairman Trần Thanh Mẫn. The country’s population is estimated at about 102 million, with the Viet (Kinh) ethnic group comprising roughly 85 %.

Economic activity in 2026 showed several notable developments. The World Bank projected that Vietnam could sustain double‑digit growth, while Korean medical‑device firms sought to expand exports after a trade conference in Hanoi. Vietnamese Ambassador Nguyen Nam Duong met Egypt’s deputy foreign minister to deepen a Comprehensive Partnership. The central bank kept the VND/USD trading band at ±5 %.

Domestic demand surged as electric‑vehicle maker VinFast logged 12,728 reservations for its VF 8 SUV during an eight‑day early‑booking campaign. Retail sales of goods and services rose 11.2 % year‑on‑year to 3.18 quadrillion VND, and government bond auctions raised about $1.27 billion in May. Border‑gate infrastructure in Lang Son province was upgraded to boost logistics, and the Vietnam‑Israel Free Trade Agreement opened new trade avenues. Fuel prices were cut, and Deputy Prime Minister Nguyen Van Thang hosted Bybit’s co‑founder Ben Zhou to discuss cryptocurrency development. Nearly 95,000 new enterprises entered the market, bringing the total active businesses to over 142,600, while hi‑tech exports now exceed 50 % of total export value.