Vietnam: The Rise of a Future Global Economic Power in Asia

Kiet Le Hoang () and Hiep Tran Xuan ()
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Kiet Le Hoang: Yersin University, Faculty of Basic Sciences
Hiep Tran Xuan: The University of Danang, University of Science and Education, Faculty of History – Geography – Politics

Chapter Chapter 2 in Future of Economy in Asia, 2025, pp 25-42 from Springer

Abstract: Abstract In the 21st century, Vietnam has become one of the most dynamic emerging economies in the world. According to forecasts by many economic experts, Vietnam will become one of the twenty largest economies in the world by 2045. The rapid development of the Vietnamese economy stems from various causes. Among them, there are three main reasons: (1) Favorable geopolitical and geo-economic position, with abundant natural resources; (2) Deeply integrated economy, large market potential; (3) Independent, self-reliant and wise foreign policy of Vietnamese leaders. This chapter uses a qualitative analysis method through secondary data and primary data sources to focus on researching and evaluating the three aforementioned reasons that have been and are helping the Vietnamese economy grow rapidly after nearly 40 years of economic reform and international integration. From there, the article concludes that Vietnam has the full potential to become one of the top twenty economies in the world by 2045.

Keywords: Vietnam; Economic power; Asia; Southeast Asia; Future (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-95500-6_2

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DOI: 10.1007/978-3-031-95500-6_2

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