A year ago, we interviewed the ambassador of Vietnam in Madrid on these pages. At that time, we discussed a burgeoning bilateral relationship, with room for growth in trade, investment, and innovation. Today, following the publication of the conclusions of the XIV National Congress of the Communist Party of Vietnam (CPV), that horizon is not only confirmed but also accelerating.
The official document of the Congress—held in a context of macroeconomic stability and reformist ambition—sets specific economic objectives that directly impact Vietnam’s positioning as a strategic partner for Europe and, by extension, for Spain.
Solid Growth and Qualitative Leap
In the assessment of the XIII Congress (2021-2025), the Party emphasizes that the country has maintained macroeconomic stability, inflation control, manageable debt, and a trade balance with sustained surpluses. The average GDP growth during this period stands at around 6.3%, with an estimated size of over $510 billion in 2025 and a per capita income nearing $5,000, consolidating Vietnam as a middle-income economy.
For the period of 2026-2030, the goal is even more ambitious: an average annual growth of 10%, reaching $8,500 in per capita income by 2030, and raising the Human Development Index to 0.78.
Vietnam, with nearly 100 million inhabitants, is emerging as one of the most dynamic industrial and technological hubs in Southeast Asia, undergoing a full transition towards higher value-added sectors.
Market Economy with Socialist Orientation… and International Integration
One of the key points of the XIV Congress is the reaffirmation of the «socialist-oriented market economy,» which is deeply integrated into the international economy. The text insists on the necessity of modernizing the institutional framework, eliminating regulatory bottlenecks, and prioritizing strategic industrial and technological sectors, with particular emphasis on artificial intelligence, innovation, and digital transformation.
For Spain, this opens three clear vectors of opportunity:
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Infrastructure and Energy: The Congress prioritizes the improvement of transport, energy, and technological infrastructures. Spanish companies with experience in railways, port management, renewable energies, or smart grids may find in Vietnam a natural partner, especially within the framework of the EU-Vietnam Free Trade Agreement.
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Technology and Advanced Industry: The explicit commitment to new productive forces, digitalization, and innovation creates space for collaboration in cybersecurity, industrial automation, applied artificial intelligence, and technological training.
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Education and Human Capital: The document stresses the importance of developing high-quality human resources and modernizing education and science. Spanish universities, business schools, and technical training companies can position themselves as strategic partners.
Political Stability and Multilateral Diplomacy
From a business perspective, a significant factor is the Congress’s emphasis on maintaining political stability, legal security, and a foreign policy of independence, multilateralism, and relationship diversification. Vietnam seeks to consolidate ties with strategic partners and major powers, deepening relationships in a stable and sustainable manner.
Spain, which in recent years has intensified its economic diplomacy in the Asia-Pacific region, can find fertile ground here to reinforce its institutional and business presence. The timing is opportune: the reconfiguration of global supply chains is leading many European companies to diversify their exposure beyond China, with Vietnam positioning itself as one of the main alternative destinations.
From Trade Partner to Industrial Ally
The XIV Congress is not merely a political roadmap; it is an economic declaration of intent. The combination of sustained growth, institutional reforms, technological momentum, and international openness places Vietnam in a consolidation phase as a regional manufacturing and technological power.
For Spain, the challenge is to transition from a growing trade relationship—still modest in relative volume—to a deeper strategic alliance: direct investment, industrial presence, technological cooperation, and joint projects in third markets.
A year ago, the Vietnamese ambassador in Madrid spoke of trust and complementarity. Today, following the XIV Congress, the message is more ambitious: Vietnam aims to play in the top tier of the Asian economy before 2030.
The question is no longer whether there will be opportunities for Spanish companies, but whether we will be prepared to seize them.
