Vietnam is a lower-middle income economy according to the World Bank. Its 2024 GDP of $476.32 billion accounts for 12% of the regional GDP of Southeast Asia. With a population of 101 million, Vietnam’s GDP per capita is $4,717, the sixth-highest in the region.
From 2015 to 2024, 24,882 aid and development projects were implemented in Vietnam by 88 development partners, totalling $51.5 billion in official development finance (ODF).
Key trends
ODF disbursements including grants, loans, and other forms of assistance to Vietnam have decreased over time. A 2015 peak in spending of $9.2 billion has dropped to a 2024 low of $1.9 billion.
ODF has also decreased relative to Vietnam’s economy, from 4% of GDP in 2015 to just 0.4% in 2024. Vietnam’s 2024 ODF to GDP ratio is the fourth-lowest in the region. ODF to Vietnam is most commonly delivered through concessional loans, accounting for 47% of total ODF received, while 37% is delivered through non-concessional loans and the remainder as grants.
New commitments to Vietnam have steadily decreased since 2015.
- Spent
- Committed
Development partners
Japan, the World Bank, and South Korea are Vietnam’s primary development partners, each accounting for 18–19% of its total ODF received since 2015. The Asian Development Bank (ADB) and China follow, accounting for about 12% and 10% respectively.
Japan’s assistance is delivered through concessional loans (90%) and grants. From 2015 to 2024, it has focused on Vietnam’s transport and storage sector, followed by energy and water and sanitation. A large disbursement for a budget support program in 2023 pushed the government and civil society sector to 49% of Japan’s ODF to Vietnam that year, but the transport and storage sector resumed the largest share in 2024 (48%), with government and civil society at 4%.
Though the World Bank has been Vietnam’s second-largest development partner across 2015–24, its support has decreased considerably from $1.5 billion in 2015 to $491.3 million in 2024. Over this period, it has focused on the transport and storage, water and sanitation, energy, and agriculture, forestry, and fishing sectors, largely through concessional loans (78% of its total ODF to Vietnam).
After a peak of $2.29 billion spent in 2018, South Korea’s ODF to Vietnam has continuously declined, first dramatically in 2019 (a 79% decrease) and gradually since then to $136.6 million in 2024. Primarily disbursed through non-concessional loans (81% of total ODF to Vietnam), South Korea’s ODF focuses on the industry, mining, and construction and energy sectors.
The ADB’s ODF to Vietnam also fell in 2024 to $185.3 million, a 58% drop from 2023. Its assistance is split almost evenly between concessional loans (48%) and non-concessional loans (51%), with a small percentage as grants.
Sectors
Vietnam’s top sector by spending is energy, at 24% of total ODF from 2015 to 2024, above the regional average of 17%. Vietnam also exceeds the regional average in water and sanitation, transport and storage, industry, mining, and construction, general environmental protection, and education.
Across the reporting period, Vietnam’s energy ODF has focused on coal-fired power plants, underscoring the challenge it faces in decarbonising its economy. In 2024, however, that shifted, with 46% of energy-sector ODF going to renewables.
Vietnam’s second-largest ODF sector is transport and storage, at 20% of total ODF against a regional average of 18%, dominated by road and rail transport.
Vietnam’s ODF spending is far below the regional average for government and civil society (7% compared to 17%) and health (5% compared to 8%).
- Vietnam
- Regional average
Policy goals
The Southeast Asia Aid Map tracks ODF with integrated policy goals across three policy domains or cross-cutting themes (as distinct from sectors): climate action, gender equality, and disability inclusion.
From 2015 to 2024, 27% of Vietnam’s ODF was directed to climate action, 16% to gender equality, and 3% to disability inclusion — all below the regional average.
Provision of intra-regional ODF
Vietnam is the second-largest provider of intra-regional ODF, at an annual average of $18.9 million from 2015 to 2024. Laos receives 99% of that figure, with minor contributions to regional initiatives, Cambodia, Indonesia, and the Philippines. Vietnam concentrates this support in the industry, mining, and construction and energy sectors.
Vietnam receives the fourth-largest amount of intra-regional aid, primarily from Thailand across a variety of sectors.