Vietnam's Remarkable Economic Journey

As of 2021, Vietnam's purchasing power parity adjusted GDP per capita stood at an impressive US$11,608, marking a significant milestone in its economic development.

The Doi Moi Reform: A Turning Point

The mid-1980's Doi Moi reform, alongside favorable global trends, has been pivotal in transforming Vietnam from a poor economy to a lower-middle-class one, achieving what many describe as an economic miracle.

Ambitions and Challenges Ahead

Vietnam aspires to reach high-income status by 2045, requiring an annual average growth rate of about 5% per capita. However, challenges such as declining global trade, an ageing population, and the impacts of automation and climate change loom large.

Projected Economic Leap

The CEBR forecasts a dramatic rise in Vietnam's World Economic League Table ranking, from 41st in 2021 to 20th by 2036, underscoring its potential to become Southeast Asia's second-largest economy.