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Vietnam to become second-largest economy in Southeast Asia by 2036: CEBR
The Centre for Economic and Business Research (CEBR), in its report “World Economic League Table 2022”, forecasts that Vietnam will become the second-largest economy in Southeast Asia after Indonesia and the 20th-largest economy in the world by 2036.
The report pointed out that, as of 2021, Vietnam was estimated to have a purchasing power parity adjusted GDP per capita of 11,608 USD.
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Hai Phong port. |
It said Vietnam's economic growth story has been nothing short of a miracle, with the doi moi reform in the mid-1980's, coupled with favourable global trends, enabling the nation to achieve rapid economic growth and propelling the country from a poor country to a lower-middle-class country.
Vietnam aspires to attain a high-income status by 2045. For this to happen, it must grow at an annual average rate of approximately 5 % per capita.
Nonetheless, it faces key challenges on its path to becoming a high-income country. With global trade declining and its population ageing, it needs to improve its policy implementation performance drastically, particularly in sectors that will be severely affected by automation and climate change.
Between 2021 and 2036, CEBR forecasts that the position of Vietnam in the World Economic League Table will improve considerably, with its ranking rising from 41st to 20th by 2036.
State-owned enterprises (SOEs) must strive to obtain high and sustainable growth to contribute to promoting Vietnam's high, rapid, and sustainable development, Prime Minister Pham Minh Chinh requested at a meeting with SOEs in Hanoi on April 15.
The Vietnamese government will maintain its 8% GDP growth target for this year despite global and domestic economic hurdles.
Prime Minister Pham Minh Chinh on April 10 signed for issuance of an official dispatch outlining a plan to accelerate tourism development, aiming to drive double-digit economic growth.
Prime Minister Pham Minh Chinh has stressed that the US’s new tariff policies present an opportunity for Vietnam to restructure its economy, markets, production and exports, calling for calm, proactive, creative, flexible, timely, and effective responses to ensure stability as well as rapid and sustainable development.
BAC GIANG - According to the Bac Giang Provincial Statistics Office, the GRDP in the first quarter of 2025 of Bac Giang province was estimated at 14.02%, the highest in the country.
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