VIETNAM - Unprecedented Wealth Surge
Vietnam is on track to experience the world’s most significant wealth growth in the next decade, with an anticipated 125% increase, surpassing giants like China and Japan.
This forecast by New World Wealth and Henley & Partners positions Vietnam as a leader in Asia for GDP per capita and millionaire growth.
With 19,400 millionaires, Vietnam’s stable business climate is attracting production facilities.
In addition, the manufacturing sector, which makes up a quarter of its GDP, plays a pivotal role in this growth.
Vietnam’s GDP per capita doubled in a decade, spurred by diverse investments amidst US-China tensions, with 32% more FDI in 2023.
Key investors include Japan, Singapore, and China, with the US also increasing its import share.
Vietnam prioritizes sustaining growth amid challenges like skilled labor shortage and potential global recession impacts.
-www.riotimesonline.com, 21 February 2024
Arno's Commentary
Vietnam is a former French colony, with roots going back to 1800. In 1940, Japan invaded Indochina, with little resistance from France. Finally, in 1954, the French were decisively defeated by the Vietnamese. The same year, US President Eisenhower feared the communist “domino effect” in southeast Asia. In 1965, President Johnson sent 50,000 US ground troops to Vietnam. The US military forces experienced the same defeat as did the French, and officially ended the war in 1975.
Only those who have gone through a war can imagine the horrible suffering of the Vietnamese people.
However, war was and is an incentive to industrialize a nation. While Vietnam is a communist country, the nation was quick to adapt to a communist-guided capitalism, similar to China. It is now on track to experience “the world’s most significant wealth growth in the next decade.” Although still far behind Western per capita GDP, theirs has doubled in the last decade. Key investors are Japan, Singapore, and China.
The country of about 105 million inhabitants is listed as 86.3% non-religious, 6.1% Catholic, with only 1% Protestant. Nevertheless, the living Church of God, as in most communist-dominated countries, is well and alive. We must always remember that it is Jesus Himself who declared, “I will build my church.”
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
