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Wealth in Vietnam growing fast, but low productivity tests high-income goal

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Jamille Tran

Published Sat, Mar 23, 2024 · 05:00 AM
    • Above: Ho Chi Minh City. Vietnam is one of the fastest-growing economies and global manufacturing hubs, but its absolute labour productivity level is still well below that of its regional peers, the World Bank has said.
    • Above: Ho Chi Minh City. Vietnam is one of the fastest-growing economies and global manufacturing hubs, but its absolute labour productivity level is still well below that of its regional peers, the World Bank has said. PHOTO: PIXABAY

    [HO CHI MINH CITY] Vietnam is expected to experience one of the sharpest surges in wealth in the next 10 years, as the South-east Asian nation becomes increasingly popular as an investment destination and safe manufacturing base, says a wealth report.

    Over the next decade, Vietnam’s number of millionaires – estimated at 19,400 as at end-2023 – is expected to grow faster than in any other country in the world, noted wealth-intelligence firm New World Wealth.

    This observation was based on research for the firm’s wealth report series, carried out with investment migration advisers Henley & Partners.

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