World Economy

Vietnam GDP to Lag Behind

Vietnam GDP to Lag BehindVietnam GDP to Lag Behind

It will not be easy for Vietnam to catch up with the bigger economies in the region in the next 20 years without thorough reforms, economists have said, Thanh Nien News reported. Nguyen Dinh Cung, chief of the Central Institute for Economic Management, was quoted as saying that Vietnam can only reach the current GDP per capita level of Malaysia if its economy maintains an average growth rate of 7% per year. At a growth rate of 5% a year, the country’s GDP per capita, which was $2,052 last year, will not be able to match even the current levels in China and Thailand, he said.