Vietnam's economy is considered by experts to be on the right track with positive long-term prospects.
International press last week had many articles commenting on the positive prospects of the Vietnamese economy, in the context of the global economy still facing challenges. Experts said that the Vietnamese economy is on the right track with positive long-term prospects.
Vietnam's economy is undergoing strong changes - according to Asia Insider. Vietnam's economy is growing rapidly, ranking 46th out of 132 countries in the 2023 Global Innovation Index. Vietnam also ranks second among lower-middle-income countries and is a country that is making efforts to lead in green economy, sustainable development and digital transformation.
The Washington Examiner newspaper rated Vietnam as a testament to successful development and an economy on the right track. The newspaper cited the Heritage Foundation's 2024 Index of Economic Freedom report, stating that Vietnam is one of the rising stars, going against the global trend.
Mr. Gabor Fluit - Chairman of the European Chamber of Commerce (EuroCham) in Vietnam commented: "I think the Party and Government of Vietnam have done very well. That brings opportunities for Vietnamese companies, especially those with the potential to develop globally. Another important thing is the level of competitiveness of the products or services you provide. In some industries, Vietnam's manufacturing activities are still at a stage of price competitiveness, while some industries have gradually shifted successfully to not only compete on price but also truly compete on quality".
Regarding the long-term prospects, The Business Post quoted a report from the Center for Economic and Business Research predicting that Vietnam has the potential to surpass the leading economies of ASEAN and rank 21st in the world around 2038.
Dr. Andrea Coppola - World Bank Chief Economist in Vietnam commented: "I think it is important to acknowledge that for Vietnam to achieve its high-income goal by 2045, we need to accelerate further. The World Bank estimates that per capita growth in Vietnam will average 6% per year from now until 2045. It is important to implement more reforms, including improving the ability to participate in global value chains, promoting green growth and continuing to modernize institutions to pave the way for further growth in the future."
China Daily reported that Vietnam's gross domestic product (GDP) is expected to reach nearly 470 billion USD by 2024. The newspaper also said that Vietnam's economic ranking could increase rapidly in the future. Vietnam's economy could rise to 24th place by 2033, with an economic scale of more than 1,000 billion USD.
According to VTV
Source
Comment (0)