Vietnam Joins BRICS: Investment Opportunities in the Strategic Partnership

Posted by Written by Yanyan Shang Reading Time: 4 minutes

In June 2025, Vietnam was formally granted partner-country status within BRICS, joining Malaysia, Indonesia, and Thailand in aligning more closely with the bloc of major emerging economies. The move reflects Hanoi’s strategic push to deepen global integration through diversified diplomatic and economic partnerships, reinforcing its commitment to multilateral cooperation.

As Vietnam deepens ties with a diverse group of emerging economies, the partnership reinforces its multilateral orientation and expands its global footprint. For investors and businesses, this marks a pivotal moment in Vietnam’s increasing global engagement and its role in shaping the future of South-South cooperation.

What is BRICS?

BRICS is a group of leading emerging economies, initially including Brazil, Russia, India, and China. It has expanded to include six more countries – Saudi Arabia, Egypt, the United Arab Emirates, Ethiopia, Indonesia, and Iran – bringing the current total to 11 members.

The bloc also has nine partner countries: Vietnam, Belarus, Bolivia, Kazakhstan, Cuba, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan.

Strategic significance of the Vietnam-BRICS partnership

Vietnam’s entry into BRICS as a partner country reflects its strategic push to amplify its voice in multilateral forums and deepen ties with the Global South. With a population of nearly 100 million and a strong export-oriented economy, Vietnam offers BRICS a reliable Southeast Asian partner embedded in global value chains.

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The partnership reinforces shared goals such as sustainable development, inclusive growth, and diversified cooperation. Brazil, the current BRICS chair, has praised Vietnam’s commitment to South-South cooperation and its role as a relevant actor in Asia.

Vietnam’s engagement with BRICS complements, rather than replaces, relationships with key partners like the US, EU, and ASEAN. As Prime Minister Pham Minh Chinh emphasized at the Kazan Summit, Vietnam remains committed to independence, multilateralism, and constructive global integration.

Vietnam’s economic appeal to BRICS and global partners

Vietnam presents a strong economic proposition to BRICS and global partners, backed by stable growth, investor-friendly policies, and deep global trade integration. Over the past decade, the country has maintained consistent GDP expansion and macroeconomic stability, with low inflation and prudent fiscal management. These fundamentals have strengthened investor confidence and positioned Vietnam as a dependable emerging market.

Its role as a manufacturing powerhouse remains central. Vietnam supports a diverse range of industries, including electronics, textiles, renewable energy, and semiconductors. It has become a preferred destination for companies seeking supply chain resilience and regional production efficiency. Ongoing infrastructure development and integration into key trade agreements further enhance its competitiveness.

Vietnam continues to balance partnerships across key global markets to ensure resilience and capitalize on emerging opportunities, while also advancing reforms to improve institutional transparency, accelerate digital governance, and enhance regulatory efficiency. These priorities align with BRICS’s development goals and appeal to global investors seeking long-term, sustainable returns. As BRICS expands its reach, Vietnam offers a valuable model of market-driven growth combined with strategic diplomatic positioning.

Key sectors for investment and cooperation

Vietnam’s growing engagement with BRICS unlocks a range of sectoral opportunities that align with both domestic development priorities and the bloc’s long-term strategic agenda.

Infrastructure

Infrastructure development remains a top national priority. Vietnam plans to invest up to US$120 billion in transport infrastructure by 2030, focusing on expressways, seaports, airports, and smart city projects. BRICS member states, particularly China and India, bring relevant expertise to support these efforts.

Green energy and sustainable development

In green energy and sustainability, Vietnam has committed to achieving net-zero emissions by 2050. The country is expanding solar, wind, and biomass capacity and seeks investment in grid modernization, waste-to-energy systems, and carbon reduction technologies. Partnerships with BRICS countries could support knowledge transfer and green technology deployment.

Technology and innovation 

Technology and innovation also present strong growth potential. According to a 2022 Google study, Vietnam’s digital economy reached US$23 billion in 2022 and is projected to grow to US$50 billion by 2025. Areas such as fintech, e-commerce, cybersecurity, and education tech remain high-potential fields for collaboration with BRICS players like China, Russia, and India.

Tourism and cultural exchange

In tourism and cultural exchange, Vietnam and BRICS partners are exploring cross-border visa facilitation and tourism recovery initiatives. Education and talent development complement these efforts. Russia has already increased scholarships for Southeast Asian students, and Vietnam is deepening cooperation in technical training, academic exchange, and institutional partnerships.

These sectors collectively offer scalable, long-term investment opportunities aligned with Vietnam’s national strategies and BRICS priorities.

Business and investment opportunities

Vietnam’s entry into BRICS as a partner country marks a key milestone in its pursuit of greater multilateral influence. The country’s strategic location, development track record, and diplomatic credibility make it a strategically positioned contributor within the bloc’s evolving framework. This expanded reach enhances Vietnam’s trade visibility and creates openings for diversified export markets, especially in regions where current trade volumes remain underdeveloped. For instance, Vietnam’s exports to India, Russia, and South Africa remain below 3 percent of total trade, suggesting substantial room for growth.

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Through its participation in BRICS, Vietnam can also tap into multilateral project funding and development finance. Institutions such as the BRICS New Development Bank and the Contingent Reserve Arrangement offer potential support for infrastructure, energy, and digital transformation initiatives.

Opportunities also exist in cross-border private sector partnerships, with joint ventures spanning advanced manufacturing, agricultural innovation, digital services, and logistics. BRICS partners bring complementary strengths, including industrial expertise, raw materials, and market access, which align well with Vietnam’s development goals.

At the policy level, Vietnam’s active engagement in BRICS discussions allows it to contribute to investment frameworks that promote transparency, sustainability, and shared development benefits. This positions the country as both a beneficiary and a co-architect of future cooperation models within the bloc.

Vietnam’s multilateral strategy: Balancing growth with global partnerships

Vietnam’s engagement with BRICS reflects its broader foreign policy of diversification, non-alignment, and multilateral cooperation. Rather than aligning with any single geopolitical bloc, Hanoi continues to pursue a flexible strategy that balances economic ties with the US, EU, Japan, China, and ASEAN. This approach, often described as “bamboo diplomacy”, emphasizes adaptability while maintaining national sovereignty and development autonomy.

Vietnam’s BRICS partnership complements, rather than competes with, its strategic relations with Western economies. The country remains an active participant in regional and global frameworks such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP), and the Indo-Pacific Economic Framework (IPEF). These overlapping memberships signal Hanoi’s intention to shape a multipolar, rules-based international order that reflects the interests of emerging economies.

At the same time, Vietnam continues to navigate complex regional dynamics. Vietnam’s approach emphasizes stability and constructive engagement, aiming to safeguard economic progress while maintaining strategic autonomy. Its BRICS engagement reflects a forward-looking effort to diversify partnerships and strengthen resilience in an increasingly interconnected global landscape.

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