Vietnam targets US$10,000 per capita income by 2035

Dung made the forecast at the Vietnam Development Partnership Forum (VDPF) held in Hanoi on December 5. 

According to the minister, after 30 years of the renovation process, Vietnam has seen considerable achievements with the sharp fall in poverty rate and deeper integration into the world economy. Vietnam has become a middle-income country.

By late 2017, Vietnam’s GDP was estimated at USD220 billion and the country’s per capita income was at roughly USD2,300.

Last year’s GDP growth was at 6.81% and the figure is forecasted to be at 6.85% during the 2018-2020 period.

World Economic Forum’s global competitiveness report indicated that in 2017, the national competitiveness rose to 55th out of 137 economies from 60th in 2016; the business environment jumped from 68 to 82 among 190 economies, and innovation increased 12 places to 47th among 127 economies.

The minister cited a report jointly conducted by the Vietnamese government and the World Bank saying that the country has set a goal to achieve per capita income of USD10,000 by 2035.