Vietnam is increasingly positioning itself as one of Asia’s fastest-growing economies, with significant investments and reforms designed to boost long-term competitiveness, according to recent reports from Thai media.
The Vietnamese government has unveiled a national development plan valued at approximately 1.5 trillion THB (48.7 billion USD). The initiative includes 250 infrastructure and housing projects across the country, with the goal of achieving 8% GDP growth in 2025 and sustaining double-digit growth in subsequent years. The long-term vision aims to transform Vietnam into a high-income economy by 2045.
Vietnam’s rapid economic progress has been underscored by rising incomes and its emergence as a global manufacturing hub. Per capita annual income in Hanoi has grown from 1,200 USD in 1990 to more than 16,000 USD today. The country is now shifting its focus from low-cost, export-driven growth toward high-tech industries, renewable energy, and private sector expansion.
Regional observers highlight Vietnam’s commitment to reform and efficiency. Nonarit Bisonyabut of the Thailand Development Research Institute noted that Vietnam’s evidence-based reforms, including bureaucratic restructuring, are enabling rapid advancement. Meanwhile, Thai industry leaders acknowledged Vietnam’s proactive strategy of leveraging global trade shifts and investing heavily in infrastructure as a model for sustained growth.
According to the Federation of Thai Industries and the Thai Chamber of Commerce, Vietnam’s approach to policy execution and reform reflects an urgency to adapt to global trade changes — a pace that some argue Thailand needs to match to remain competitive.
With its focus on infrastructure, innovation, and resilience, Vietnam continues to emerge as a strong contender for the next “tiger economy” of Asia.
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