Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)

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Fixed Exchange Rate, Export Promotion, and Foreign Exchange Reserves Accumulation: A Feasible Path for Vietnam to Achieve Economic Center Status

Authors
Jiayi You1, *
1School of Economics, Zhejiang University, Hangzhou, China
*Corresponding author. Email: 3220102116@zju.edu.cn
Corresponding Author
Jiayi You
Available Online 3 November 2025.
DOI
10.2991/978-94-6463-874-5_79How to use a DOI?
Keywords
Vietnam; Fixed Exchange Rate; Export-oriented Strategy; Foreign Exchange Reserves; Economic Transformation
Abstract

This paper explores the path for Vietnam’s transition from an ″economic periphery″ to an ″economic center″, focusing on the synergistic effects of its fixed exchange rate policy, export-oriented strategy, and foreign exchange reserves accumulation. Since adopting a limited floating exchange rate system pegged to the US dollar in 1999, Vietnam has promoted export growth and strengthened investor confidence through exchange rate stability. Export expansion has driven foreign direct investment and sustained reserve accumulation, enhancing financial system stability and policy credibility. However, Vietnam’s growth model still relies heavily on low-value-added manufacturing and external demand. To achieve long-term sustainable growth and elevate its global economic status, Vietnam must implement structural reforms such as gradually relaxing capital controls, increasing R&D investment, and shifting to higher value-added industries. This study offers insights into how emerging economies can leverage macroeconomic policy tools to upgrade their structures and enhance resilience to external shocks.

Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
3 November 2025
ISBN
978-94-6463-874-5
ISSN
2352-5428
DOI
10.2991/978-94-6463-874-5_79How to use a DOI?
Copyright
© 2025 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Jiayi You
PY  - 2025
DA  - 2025/11/03
TI  - Fixed Exchange Rate, Export Promotion, and Foreign Exchange Reserves Accumulation: A Feasible Path for Vietnam to Achieve Economic Center Status
BT  - Proceedings of the 2025 International Conference on Financial Innovation and Marketing Management (FIMM 2025)
PB  - Atlantis Press
SP  - 684
EP  - 691
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-874-5_79
DO  - 10.2991/978-94-6463-874-5_79
ID  - You2025
ER  -