It forecasts that Vietnam will move swiftly up the WELT rankings, from 34th position in 2023 to 24th in 2033 and 21st in 2038 while the Philippines will reach 23rd place by 2038. It emphasised that both countries have demonstrated significant progress and are expected to climb 10 and 13 positions, respectively, by 2038, with full opportunities to join the top 25 economies in the world. CEBR also forecast a positive outlook for Vietnam over the next 15 years. With its population advantage, the country can likely achieve its goal of becoming a high-income country by 2045. With a large and relatively young population, Vietnam has a chance to surpass most countries in the Association of Southeast Asian Nations (ASEAN), behind only Indonesia, to be among the world’s top 25 economies by 2038./.

Source: Viet Nam News December 30, 2023 20:54 UTC