Forecasting the time when Vietnam's GDP size surpasses Singapore's, what will the S-shaped country benefit from?

In 2024, the size of Vietnam's economy at current prices reached approximately US$450 billion. (Photo: Gia Thanh)

The report assesses that the Vietnamese economy has benefited from the diversification of supply chains by many large global businesses.

In fact, this year, a number of major foreign companies have come to Vietnam to seek investment and business opportunities.

For example, billionaire Jensen Huang's Nvidia Corporation has signed a strategic cooperation agreement with the Vietnamese government to establish Nvidia's AI R&D Center in Vietnam (VRDC) and an AI Data Center.

In addition, Elon Musk's SpaceX also intends to invest $1.5 billion in Vietnam, while the Trump Organization has decided to invest in Hung Yen province.

CEBR experts forecast that Vietnam's GDP per capita will reach US$4,783 by 2025, placing it in the upper-middle income group (US$4,466-13,845). By 2029, this figure is expected to continue to increase to US$6,463 and reach US$12,727 by 2039, ranking 100th.

In 2024, the size of Vietnam's economy at current prices reached approximately $450 billion, ranking 34th on the World Economic League Table (WELT).

By 2029, Vietnam's GDP is projected to increase to $676 billion, ranking 32nd, while Singapore's is projected to reach $656 billion, ranking 33rd.

Over the next five years, Vietnam's annual GDP growth rate is projected to slow to an average of 5.8%. For the period 2030-2039, this research center forecasts the average GDP growth rate will further decrease to 5.6% per year.

By 2039, CEBR experts emphasized: “Vietnam’s position in WELT will improve significantly, with its ranking rising from 34th to 25th. Specifically, within Southeast Asia, Vietnam’s GDP will reach US$1.41 trillion by 2039, ranking only behind Indonesia and the Philippines, and surpassing Thailand, Malaysia, Singapore, and Myanmar…”.

Source: https://baoquocte.vn/du-bao-thoi-diem-quy-mo-gdp-cua-viet-nam-vuot-singapore-dat-nuoc-hinh-chu-s-huong-loi-nho-dieu-gi-299062.html