Vietnam has officially become the 10th partner country of BRICS, as announced by Brazil, the current chair of the group, on June 13, 2025. The move cements BRICS' growing network of allied nations and reinforces the bloc's ambition to reshape global governance and financial architecture.
Background: The Partner Country Framework
The partner-country status was introduced at the 16th BRICS summit in Kazan, Russia, in October 2024, allowing like-minded nations to coordinate with the bloc without holding full membership. Vietnam joins nine other partners: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, and Uzbekistan. Current full members include Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, UAE, Ethiopia, Indonesia, and Iran.
In its announcement, the Brazilian government stated: The government of Brazil welcomes the decision of the Vietnamese government.
Vietnam's alignment with BRICS values, including support for a more inclusive international order and enhanced South-South cooperation, was highlighted as a key rationale.
Economic and Strategic Significance
Brazil emphasized Vietnam's strategic role: With a population of almost 100 million and a dynamic economy deeply integrated into global value chains, Vietnam stands out as a relevant actor in Asia.
Supporters of BRICS expansion argue that Vietnam brings substantial economic weight, innovation capacity, and manufacturing expertise. Its presence could deepen trade and investment linkages within the bloc, especially in sectors like electronics, textiles, and renewable energy.
Challenges and Criticisms
Critics caution that rapid enlargement may strain BRICS' ability to reach consensus on pressing issues such as sanctions, trade disputes, and financial reforms. Divergent geopolitical interests among members and partners could slow decision-making. However, advocates counter that a diverse range of perspectives enriches strategic direction, making BRICS more representative of the Global South.
Implications for Crypto and Finance
While Vietnam's partnership does not directly involve cryptocurrencies, BRICS' ongoing push for de-dollarization and alternative payment systems (e.g., BRICS Bridge) could indirectly benefit blockchain-based settlement tools. Vietnam itself is a vibrant crypto market, and its BRICS engagement may elevate discussions on digital asset integration in cross-border trade. For now, the bloc's official focus remains on local currency settlements and financial infrastructure, with digital assets still peripheral.
Vietnam's entry marks a notable milestone in BRICS' evolution. As more Global South nations seek alignment, the bloc's role in shaping a multipolar world order—with potential ripple effects on both traditional finance and emerging crypto ecosystems—will continue to draw global attention.