Vietnam's Socio-Economic Achievements and its Growing Relationship with Malaysia

Strategic Insights -

Vietnamese National Assembly Chairman Tran Thanh Man recently visited Malaysia as part of an official trip, where he met with the Vietnamese Embassy staff and community representatives. During the meeting, he highlighted Vietnam's impressive socio-economic achievements since the implementation of the Doi Moi (Renewal) policy, including a GDP of around $500 billion and a per capita income of approximately $4,700. Despite global and domestic challenges, Vietnam's economy has consistently shown growth, with a notable 7.09% increase in 2024 and 7.52% in the first half of 2025. The Chairman emphasized the importance of securing prosperity and happiness for the Vietnamese people, with goals to become an upper middle-income country by 2030 and a high-income nation by 2045.

Key Takeaways:

  • Vietnam has achieved a GDP of around $500 billion since implementing the Doi Moi policy, with a per capita income of approximately $4,700.
  • The country's economy has consistently shown growth, with a 7.09% increase in 2024 and 7.52% in the first half of 2025.
  • Vietnam aims to become an upper middle-income country by 2030 and a high-income nation by 2045.
  • The National Assembly has been actively supporting overseas Vietnamese, including revisions to the laws on identity, housing, and land, and incentives for investment, business, and knowledge contributions.
  • The Vietnamese community in Malaysia is approximately 40,000 strong and contributes to both the host country's economy and bilateral relations.
  • Community representatives expressed pride in Vietnam's achievements and growing position, and called for continued attention from the Party and State to connect Vietnamese worldwide and facilitate national development.

Statistics:

  • Vietnam's GDP is around $500 billion.
  • Per capita income in Vietnam is approximately $4,700.
  • The Vietnamese economy grew 7.09% in 2024.
  • The Vietnamese economy grew 7.52% in the first half of 2025.
  • Vietnam aims to become an upper middle-income country by 2030.
  • Vietnam aims to become a high-income nation by 2045.
  • There are approximately 40,000 Vietnamese living, studying, and working in Malaysia.

Sources:

  • Vietnam News Agency
  • VNA (Vietnam News Agency)