Vietnam is expected to become the second largest economy in Southeast Asia.

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The Center for Economics and Business Research (CEBR) predicts that by 2036, Vietnam will become the second largest economy in Southeast Asia after Indonesia and the 20th largest economy in the world.

The Center for Economics and Business Research (CEBR) has predicted that by 2036, Vietnam will become the second largest economy in Southeast Asia after Indonesia and the 20th largest economy in the world.

According to the CEBR report entitled "Ranking of World Economy 2022", as of 2021, Vietnam is estimated to have a PPP-adjusted GDP per capita of US $11,608.

It said Vietnam's economic growth story was nothing short of a miracle, with the Doi Moi (innovation) reforms of the mid-1980s, coupled with favorable global trends, enabling the country to achieve rapid economic growth and moving the country from a poor country to a lower-middle class country.

Vietnam aspires to reach high income levels by 2045. To do so, it must grow at an average annual rate of 5 per cent per capita. Nevertheless, it faces significant challenges on its way to becoming a high-income country. With global trade declining and an aging population, China needs to significantly improve its policy implementation performance, especially in industries that will be heavily impacted by automation and climate change.

CEBR predicts that Vietnam's position in the world economic ranking will increase significantly between 2021 and 2036, and by 2036, its ranking will rise from 41st to 20th.

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