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Vietnam among world’s top 25 economies by 2038: UK think tank

Vietnam and the Philippines are the two economies in Southeast Asia that are projected to make a big leap in the World Economic League Table (WELT) between 2023 and 2038, according to the Centre for Economics and Business Research (CEBR).
Vietnam among world’s top 25 economies by 2038: UK think tank ảnh 1Illustrative image.(Photo:VNA)

Hanoi (VNA) – Vietnam and the Philippines are the two economies in Southeast Asiathat are projected to make a big leap in the World Economic League Table (WELT)between 2023 and 2038, according to the Centre for Economics andBusiness Research (CEBR).

It forecaststhat Vietnam will move swiftly up the WELT rankings, from 34th position in 2023to 24th in 2033 and 21st in 2038 while the Philippines will reach 23rd place by 2038.

In its freshlyreleased WELT rankings, CERB said Vietnam and the Philippines are notableillustrations for the group of countries anticipated to enhance their standing bydeveloping their positioning within the global value chain, implementingdomestic reforms and improving theproductivity which can achieved through the efficient molisation of public andprivate capital.

It emphasised that both countries have demonstratedsignificant 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 alarge and relatively young population, Vietnam has a chance to surpass most countriesin the Association of Southeast Asian Nations (ASEAN), behind only Indonesia, to be among the world’s top 25 economies by 2038./.

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