“Vietnam’s development over the past 30 years has been remarkable. Economic and political reforms under Đổi Mới, launched in 1986, have spurred rapid economic growth, transforming what was then one of the world’s poorest nations into a lower middle-income country. Between 2002 and 2018, GDP per capita increased by 2.7 times, reaching over US$2,700 in 2019.” Source: World Bank
Vietnam is an emerging market that presents incredible investment opportunities, but can financial returns go hand-in-hand with environmental and social impact? And what about transparency and governance? According to a study by Standard Chartered, the country offers a $45bn opportunity for the private sector to invest in sustainable development to help achieve the United Nations’ Sustainable Development Goals (SDGs) by 2030.
Vietnam has shown itself to be incredibly resilient during COVID-19 and has even managed to expand its economy during this turbulent year. 2021 could see a return to trend of 6-7% GDP growth – the highest in the world. However, as a result of urbanization and strong economic and population growth, there are challenges linked to waste generation and pollution challenges: Ninety percent of global marine plastic pollution is estimated to come from just 10 in-land rivers, and the mighty Mekong river is one of them.