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View all search resultsTo Lam’s Vietnam: An economic growth lesson for Prabowo
For years, Indonesia has looked toward Thailand as a model for agriculture and tourism. It is time we apply that same humility to Vietnam.
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President Prabowo Subianto gestures as he speaks during the World Economic Forum (WEF) annual meeting in Davos on January 22, 2026. The World Economic Forum takes place in Davos from January 19 to January 23, 2026. (AFP/Fabrice Coffrini)
I
see a striking parallel in the economic ambitions of President Prabowo Subianto and Vietnam Communist Party General Secretary To Lam, the leaders of Southeast Asia’s two rising giants.
At the recent World Economic Forum in Davos, Switzerland, Prabowo delivered an optimistic vision of Indonesia’s future, mirroring the high-stakes targets set by To Lam at his party congress in Hanoi. Both leaders, now holding the apex of power in their respective nations, have staked their legacies on a leap in growth.
Prabowo remains confident that Indonesia’s economy will hit 8 percent during his presidency, an achievement that eludes other post-Reform Era presidents of the region’s largest economy. Meanwhile, To Lam has set his sights even higher, pledging double-digit growth for Vietnam this year and a sustained 10 percent annually until 2030.
“Our government must serve the general good and must not entrench itself. Achieving our mission also requires smart investments in infrastructure, simplifying rules and regulations, eliminating excessive red tape, and, of course, significant investment in health and education," Prabowo told the audience in Davos.
To Lam did not attend the forum. Deputy Prime Minister Bui Thanh Son led the Vietnam’s delegation to the annual event, instead.
While these targets are undeniably ambitious, they signify a new era of regional competition where "stability" is no longer enough, productivity is the new currency.
Vietnam's economic growth has been among the most impressive of the now-11 ASEAN members over the last few years. But my conversations with Indonesian and foreign diplomats suggested that Indonesia tends to overlook Vietnam's economic success as it is torn between the United States and China. Indonesia should change its mindset now.
