This paper provides an in-depth analysis of Vietnam’s economic development and its potential
participation in the Indo-Pacific Economic Framework for Prosperity (IPEF). Vietnam is an emerging
economy in the Indo-Pacific, actively engaged in trade agreements and regional economic
integration. Led by the United States (US), the IPEF aims to foster a connected, clean, fair, and
resilient economy in the region, aligning with Vietnam’s long-term economic policies. Participation
in the IPEF offers promising prospects for addressing critical issues like supply chain diversification,
technology innovation, climate change mitigation, and green development. Vietnam’s active role
in the Association of Southeast Asian Nations (ASEAN) enhances its leadership and influence in
the region. The paper highlights potential benefits for Vietnam’s resilient and clean economy, but
challenges like low localisation rates and resource limitations need attention. Vietnam’s participation
in the IPEF can offer support for improving competitiveness and achieving sustainability goals.
Overall, the paper provides insights into Vietnam’s economic strengths, challenges, and the
potential benefits of joining the IPEF for sustainable and inclusive economic growth.