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Bike production at Thong Nhat Company Limited (Photo: VNA)

Vietnam's GDP predicted to surpass Singapore's in 2029

Vietnam’s GDP is forecast to hit 450 billion USD in 2024, placing it 34th globally, according to the UK-based Center for Economics and Business Research (CEBR).

With an average annual growth rate of 5.8% over the next five years, Vietnam's GDP is expected to surpass Singapore's, reaching 676 billion USD by 2029.

By 2039, Vietnam’s GDP could rise to 1.41 trillion USD, ranking 25th worldwide and becoming Southeast Asia’s third-largest economy, following Indonesia and the Philippines. This significant milestone underscores Vietnam’s resilience amid global challenges.

CEBR projects Vietnam will maintain strong growth compared to regional peers such as Thailand, Malaysia, and Singapore. While global GDP is expected to double from 110 trillion USD in 2024 to 221 trillion USD by 2039, Vietnam is anticipated to outpace many of its ASEAN neighbors in economic expansion.

In terms of GDP per capita, Vietnam is set to cross the upper-middle-income threshold in 2024 with a projected per capita GDP of 4,469 USD. By 2025, this figure is expected to rise to 4,783 USD, officially classifying Vietnam as an upper-middle-income country, cited VNA.

Although Vietnam’s per capita GDP lags behind Singapore, Malaysia, and Thailand, it is forecasted to climb to fourth place among ASEAN-6 nations by 2026, overtaking Indonesia and the Philippines, with a per capita GDP of 6,140 USD, according to the International Monetary Fund (IMF).

To maintain its upward trajectory, Vietnam must focus on improving labour productivity, investing in education, and advancing technology. These efforts are essential to narrowing the income gap with neighbouring countries and solidifying its position as a regional economic leader.

Vietnam beat Singapore 5-1 on aggregate, progress to ASEAN Cup final

Vietnam persuasively defeated Singapore 3-1 in the second leg match of the ASEAN Cup 2024 semifinals at Viet Tri stadium on December 29 evening, and with an aggregate score of 5-1 across both legs, Vietnam advanced confidently to the final.

Vietnam took on Singapore in the second leg match at home, carrying a 2-0 advantage from the first leg. Naturalized striker Nguyen Xuan Son continued his outstanding form, helping coach Kim Sang-sik’s squad prevent their opponents from staging a comeback.

Similar to the first leg match, the most thrilling moments of the first half were all tied to VAR. The Vietnamese team narrowly escaped conceding a goal early in the match after a tense seven-minute VAR review determined that a Singaporean player was offside.

Naturalized striker Nguyen Xuan Son makes a standout performance, striking a brace to help Vietnam beat Singapore 3-1 in their second leg match of the ASEAN Cup 2024 semifinal.

Coach Kim and his squad also experienced a moment of disappointment in the 21st minute when Ngoc Quang’s header found the net, but VAR ruled the goal out due to a prior foul.

Near the end of the half, Hai Long’s free kick hit the crossbar. VAR confirmed that Lionel Tan of Singapore had pulled Xuan Son down in the box, resulting in a penalty. The naturalized striker converted it successfully, giving Vietnam a 1-0 lead.

Singapore needed to score at least 4 goals to turn the situation around. They pushed higher in the second half, but despite their efforts, they failed to create an effective attacking pressure, according to VOV.

Meanwhile, their defense made a crucial mistake. Hoang Duc intercepted the ball from the Singapore goalkeeper, made a brilliant run, and assisted Xuan Son to extend the lead, making it 2-1.

Singapore pulled one back in the 74th minute with a stunning long-range strike by Kyoga Nakamura, making it 2-1.

After the goal, the visitors tried to apply pressure, but their hopes were dashed as the match entered injury time. Striker Tien Linh successfully converted a penalty, sealing a 3-1 victory for Vietnam.

With a convincing 5-1 aggregate score, Vietnam deserved a place in the ASEAN Cup 2024 final, where they will face either Thailand or the Philippines.

Although Vietnam secured a spot in the ASEAN Cup 2024 final, they paid a heavy price, with three key players suffering injuries during the match against Singapore. Van Thanh, Tan Tai, and Xuan Mạnh all sustained injuries, which could impact the team’s lineup in the upcoming final.

Film screening in Russia spotlights Vietnamese army's 80-year history

In celebration of the 80th anniversary of the Vietnam People’s Army and the 35th anniversary of the All-People Defense Festival, the Vietnamese student association in Russia organised a film screening, helping bridge historical understanding with patriotism among young overseas Vietnamese.

The documentaries “Tien buoc duoi Quan ky” (marching under the flag) and “Hanoi 12 ngay dem” (Hanoi – 12 days and nights) highlighted the noble history of the country while inspiring national pride and gratitude towards previous generations who laid down their lives for the Fatherland’s independence and freedom, VNA reported.

Beyond mere screenings, the event features post-film discussions that deepened understanding of their contents. (Photo: VNA)

President of the student association Le Huynh Duc said the film screening initiative emerged from the youth union’s mission to promote political and ideological education among Vietnamese youths in Russia, adding despite initial concerns about young people’s interest in historical films, registration had to close early due to overwhelming response.

Beyond mere screenings, the event featured post-film discussions that deepened understanding of their contents. Participating students actively shared their perspectives and discussed specific measures to nurture and promote patriotic spirit while pursuing their study abroad.

The youth union's activities in Russia have left lasting impressions through various initiatives focusing on patriotic education and inspiration. Its successful programs received substantial support from the Party Committee, Embassy, Trade Office, and Union of Vietnamese Organizations in Russia, along with the tradition and friendship fund.

Digital ecosystem helps boost Vietnam’s tourism growth

With over 78 million internet users and 73.3% of the population using social networks, Vietnam possesses an ideal environment to drive the development of a robust digital ecosystem and a thriving tourism technology sector.

Vietnam is considered one of the fastest-growing digital economies in ASEAN.

Experts said digital transformation initiatives launched by the Government, along with those adopted by the travel business community such as Internet of Things (IoT), artificial intelligence (AI), virtual reality/augmented reality (VR/AR), big data, and other technologies are laying the foundation for remarkable innovations in the tourism sector.

Additionally, these technological solutions not only optimise visitors’ experience but also support stakeholders within Vietnam's tourism supply chain in operating efficiently and promoting efforts towards the goal of sustainable development, cited VOV.

A view of Hoi An ancient town in Quang Nam province - Illustrative image (Photo: VNA)

The report “Exploring technology adoption among Vietnamese travellers”, compiled by The Outbox Company - a market research and data analytics firm focusing on the tourism and hospitality sector in Asia, and Trip.com - a comprehensive international travel service provider, also highlights that popular technologies such as digital map, e-wallet, and OTA (online travel agencies) are being widely used.

Although more advanced technologies such as e-ticket, virtual assistant, and smart hotel services have yet to be effectively utilized, with the low rates of awareness and usage among Vietnamese travellers, they are increasingly becoming an essential part of tourists’ trips.

According to Nguyen Anh Thu, Chief Research Officer of The Outbox Company, modern technologies present significant growth opportunities for Vietnam's tourism industry in the future. Therefore, expanding the application of these solutions can improve users’ experience and operational efficiency, and at the same time enhance the competitiveness of Vietnamese travel companies.

However, to fully tap the benefits of technology, travel firms should focus on boosting the "people-centered" mindset, and improving interfaces, user experience, and security for platforms, experts said, adding that providing accurate and transparent information as well as timely technical support will also help increase the satisfaction of Vietnamese travellers when using technological applications, especially for those less familiar with technology.

Le Truong Hien Hoa, deputy director of the Ho Chi Minh City Department of Tourism, said digitalisation and the application of digital technologies are now the key to driving the rapid development of the local tourism sector as tourists can easily search destinations in the city via digital travel platforms and technology apps.

Agoda, one of the leading global digital travel platforms, has released data showing that Vietnam is emerging as a popular destination for celebrating the New Year's Eve 2025.

Director of Agoda Vietnam Vu Ngoc Lam said searches for accommodations in Vietnam by international users have risen by 30% compared to the previous year. Ho Chi Minh City remains the most sought-after destination, followed by Phu Quoc island, Da Nang, Hanoi, and Nha Trang.

Vietnam welcomed over 15.8 million foreign tourists in the first 11 months of the year, surging 41% compared to the same period of 2023.

The country targets to welcome 17 - 18 million international visitors this year.

Hanoi-HCM City remains world’s fourth busiest domestic air route

Hanoi-Ho Chi Minh City remained the world’s fourth busiest domestic flight route in 2024, with 10.63 million seats available this year, according to the Official Airline Guide (OAG).

This 1,000-km route connects the nation's two biggest cities, underpinning the growth of Vietnam's aviation industry.

The air route has consistently been ranked among the 10 busiest globally since 2017, VGP reported.

Hanoi-Ho Chi Minh City remains the world’s fourth busiest domestic flight route in 2024.

According to statistics compiled by the Civil Aviation Authority of Vietnam (CAAV), the air route, dubbed as the "golden route" of the aviation industry, transported over nine million passengers last year, accounting for 22 percent of total domestic air traffic.

Five carriers, Vietnam Airlines, Vietjet, Bamboo Airways, Pacific Airlines, and Vietravel Airlines, service the route and offer flights throughout the day.

Earlier, OAG named three air routes of Vietnam among the top 10 busiest domestic flight routes in Southeast Asia in August 2024.

They were the Hanoi-Ho Chi Minh City, Hanoi-Da Nang, and Da Nang-Ho Chi Minh City routes.

OAG is the world's leading provider of digital flight information, intelligence, and analytics for airports, airlines, and travel tech companies.

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