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Southeast Asia’s six largest economies forecast to grow 4.8% annually through 2035

Vietnam is expected to remain the region’s fastest-growing economy while Thailand is projected to record slower growth than its regional peers.

Workers produce apparel for export at Viet Vuong Company in Giao Long commune, Vietnam's Vinh Long province. Vietnam is expected to remain the fastest-growing economy in Southeast Asia in the coming years. (Photo: VNA)
Workers produce apparel for export at Viet Vuong Company in Giao Long commune, Vietnam's Vinh Long province. Vietnam is expected to remain the fastest-growing economy in Southeast Asia in the coming years. (Photo: VNA)

Hanoi (VNA) – The six largest economies in Southeast Asia – Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam – are projected to grow by an average of 4.8% annually between 2026 and 2035, according to a report by Bain & Company, DBS Bank and Vriens & Partners released on September 16.​

The report said growth would be driven by foreign investment, industrialisation, infrastructure development and productivity gains from technology adoption. Stable domestic consumption and favourable demographics in several economies are also expected to support growth.​

However, growth prospects vary across the region, with institutional strength, energy security and technological readiness shaping countries’ ability to withstand economic shocks.​

Vietnam is expected to remain the region’s fastest-growing economy while Thailand is projected to record slower growth than its regional peers.​

Indonesia, the Philippines and Thailand may face greater risks under a downside scenario. Meanwhile, Malaysia, Singapore and Vietnam could benefit more from favourable conditions.​

Foreign direct investment in the region has also surged amid global supply chain realignment and changes in the investor mix.​

Singapore was identified as the region’s most resilient economy, supported by its deep financial markets, strong fiscal resources and reputation as a trusted business hub. Its role as a regional financial centre is also helping promote investment and business activity across Southeast Asia, the report said./.

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