Vietnam's Economic Ascent

With a robust average annual growth rate of 5.8% projected over the next five years, Vietnam is on track to surpass Singapore's GDP, reaching an impressive $676 billion by 2029. This growth trajectory not only highlights Vietnam's economic resilience but also its potential to become a leading economy in Southeast Asia.

Future Projections and Regional Comparisons

By 2039, Vietnam's GDP could soar to $1.41 trillion, positioning it as the 25th largest economy globally and the third-largest in Southeast Asia, trailing only Indonesia and the Philippines. The Centre for Economics and Business Research (CEBR) forecasts that Vietnam will continue to outpace regional peers like Thailand, Malaysia, and Singapore in economic expansion.

Per Capita GDP Growth

Vietnam is expected to cross the upper-middle-income threshold by 2024, with a per capita GDP of $4,469, and further increase to $4,783 by 2025. Although its per capita GDP currently lags behind Singapore, Malaysia, and Thailand, Vietnam is projected to overtake Indonesia and the Philippines by 2026, achieving a per capita GDP of $6,140.

Strategies for Sustained Growth

To sustain its economic momentum, Vietnam must prioritize enhancing labor productivity, investing in education, and advancing technological innovation. These efforts are crucial for narrowing the income gap with neighboring countries and cementing Vietnam's status as a regional economic leader.