Vietnam's economic growth in 2010 – 2020

Abstract

The article is based on secondary data sources collected from the World Bank and Vietnamese authorities and approaches from the perspective of qualitative research through descriptive and comparative statistical analysis to assess the status of Vietnam's economic growth over the period 2010 - 2020 based on Indicators measuring economic growth rate including real GDP growth rate, GDP per capita growth rate and average real GDP growth rate. Research results show that Vietnam achieves and maintains a relatively high economic growth rate in the period 2010-2020, especially in 2020 when the economy faces many difficulties and challenges posed from the COVID-19 pandemic situation, but Vietnam's economy still maintains a positive growth rate as well as a positive growth of GDP per capita. Despite achieving remarkable economic growth during this period, when comparing real GDP and GDP per capita with other countries in the ASEAN region, these indicators of Vietnam are still quite low and there is a significant difference compared to other countries in the region. At the same time, the article also outlines several reasons for the comparatively low economic growth of Vietnam. On that basis, the article proposes some recommendations to contribute to the growth of Vietnam's economy in the future.