Population GDP GDP per Real GDP ICOR

(million) (USD capita (USD) growth

billion) (%)
2010 87.9 115.9 1.3 6.423 4.81
2011 88.8 135.5 1.5 6.24 5.38
2012 89.8 155.8 1.7 5.247 6.42
2013 90.7 171.2 1.9 5.422 6.32
2014 91.7 186.2 2.0 5.984 5.94
2015 92.7 193.2 2.1 6.679 5.44
2016 93.6 205.3 2.2 6.211 5.82
2017 94.6 223.8 2.4 6.812 5.42
2018 95.5 245.2 2.6 7.076
2019 96.4 261.9 2.7 7.017
2020

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tang-truong-kinh-te-53966.htm

From the mid 1980s to the mid 1990s, growth was stimulated by the incentive and re-
allocation effects of internal economic liberalization (doi moi). Subsequently, from the
mid 1990s to present, growth has been supported by new trade opportunities as well as
large inflows of foreign funds. Industrial activities—especially manufactured exports—
continue to be dominated by foreign firms, and value creation by local firms and workers
has been limited. Now that Vietnam is nearing the final stages of systemic transition and
global integration, productivity breakthrough is needed to climb further. Future growth
must be fueled by skill and technology rather than a mere injection of purchasing power.

In 2013, Vietnam was classified as

a "Stage 2" within Rostow's
Modernization Model. But now, in
2021, Vietnam is ready to be in the
Take-off stage.
The next challenge is to internalize skill
and knowledge by accumulating
industrial human capital. Locals must replace foreigners in all areas of production
including management, technology, design, factory operation, logistics, quality control,
and marketing.

1. Building a modern institution and an effective state;

2. Modernize the economy and develop a highly competitive domestic private
sector;
3. Developing innovation capacity;
4. Ensuring equity and promoting social inclusion;
5. Environmentally sustainable development and increased resilience to climate
change
6. Improve the efficiency of urbanization process, strengthen connectivity between
the city and surrounding areas