Vietnam also posted GDP per capita of US$3,521, ranking sixth among ASEAN countries.

According to DBS Bank, a Singaporean multinational banking and financial services corporation, Vietnam’s economy has the potential to expand by 6-6.5% over the next decade thanks to strong attraction of foreign direct investment (FDI) and productivity growth.

Workers at Hong Ha Shipbuilding company produce shipbuilding components.

If Vietnam could maintain its annual GDP growth rate of 6-6.5%, its economy would be larger than that of Singapore in the next 10 years, by around 2029-2030.

However, it did not take 10 years for Vietnam as the country actually surpassed Singapore in 2020.

Despite the Covid-19 pandemic, Vietnam’s economy still reported positive growth and exceeded Singapore’s US$337.5 billion and Malaysia’s US$336.3 billion to affirm its position among the top four largest economies in ASEAN.

The latest forecasts of the International Monetary Fund (IMF) and the Asian Development Bank (ADB) also state that the size of Vietnam's economy in 2021 will outdo Singapore and Malaysia.

According to experts, Vietnam continues to maintain a safe economic growth rate, enough to keep the fourth position in terms of economic size in ASEAN, after Indonesia, Thailand and the Philippines.

According to the World Bank, Vietnam's GDP growth is expected to reach about 6.6% in 2021, which would be the highest growth rate in the ASEAN region.

Luc Ngan focuses on developing fruit trees, forest-based economy in association with tourism

(BGO) - On the morning of April 13, the Standing Board of the Bac Giang provincial Party Committee had a working session with the Standing Board of the Luc Ngan district Party Committee on the implementation of the resolutions of the Party congresses at all levels for the 2020-2025 tenure and key tasks for 2021; directions and tasks for the next time. 

Economy off to positive start

Vietnam has begun 2021 with improved GDP growth, foreign direct investment and trade, but the number of suspended businesses remains high.

Vietnam looks forward dynamic and effective collective economy

The Prime Minister has recently approved the Collective and Cooperative Economy Development Strategy for the 2021-2030 period with the aim of promoting a dynamic, efficient and sustainable collective economy.

Bac Giang builds IT infrastructure, digital economy

(BGO) - Bac Giang province is implementing a roadmap for developing information and communication technology infrastructure, digital infrastructure, digital technology application, and digital transformation to build an e-government, digital economy and digital society in the locality. The province has issued smart urban development programmes, schemes and plans to successfully build its e-government and digital government.

Vietnam’s economy to be Southeast Asia’s growth leader in 2021: Nikkei

“Southeast Asia's growth leader in 2021 may well be Vietnam. The country managed a 2.9% economic expansion last year thanks to its success in containing the virus along with robust exports of electronics and other consumer products”, Nikkei Asia stated in a recent article on ASEAN's 2021 GDP forecasts.

Source: NDO