The Development Academy of the Philippines (DAP), serving as the focal organization for the APO Center of Excellence on Public-Sector Productivity, continues to provide valuable insights into the governance and public-sector dynamics of APO member economies. This latest edition focuses on Vietnam’s public sector, shedding light on its economic growth and governance challenges.
Based on the U.S. Department of State’s 2024 Investment Climate Statements, Vietnam is on track for significant economic expansion, with GDP projected to grow by an impressive 7.4% in 2024. This growth underscores the country’s dynamic economic environment, yet it also highlights pressing challenges in fiscal management. Public debt is anticipated to rise to 40% of GDP, intensifying the need for robust fiscal discipline and innovative financial strategies.
The Vietnamese government’s continued investment in infrastructure, particularly in transportation and urban modernization, is pivotal. These efforts aim to support the country’s rapid economic growth while addressing gaps in connectivity and urban development. However, rising inflation and currency fluctuations add layers of complexity to economic governance, prompting calls for heightened transparency and accountability in public administration.
In response to these challenges, Vietnam is prioritizing local governance improvements and enhanced public service delivery, particularly in underserved rural areas. These measures are crucial to meeting citizens’ needs and ensuring inclusive growth.
Through its role in curating and analyzing governance data, the DAP underscores the importance of these developments, offering member economies a comprehensive perspective on public-sector productivity trends and strategies. By spotlighting Vietnam’s experiences, the DAP fosters knowledge-sharing that can inspire actionable reforms across the APO network.
For more insights and resources on public-sector productivity, visit—https://coe-psp.dap.edu.ph/public-sectors/public-sector-productivity-of-vietnam.
