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Vietnam's economy forecast to grow bigger than Singapore by 2029

Vietnam’s economy could grow bigger than Singapore by 2029, the UK-based Global Business Outlook recently cited the Development Bank of Singapore (DBS)’s report.
Vietnam's economy forecast to grow bigger than Singapore by 2029 ảnh 1A corner of Ho Chi Minh City (Source: Global Business Outlook) 

Hanoi (VNA) – Vietnam’s economy could grow bigger than Singaporeby 2029, the UK-based Global Business Outlook recently cited the DevelopmentBank of Singapore (DBS)’s report.

In its report, the DBS predicts that Vietnam could grow at apace of 6 percent to 6.5 percent in the next ten years.

“If it can sustain that pace of growth, the Vietnam economywill be bigger than the size of the Singapore economy in ten years’ time”, themagazine citied the bank’s senior economist Irvin Seah as saying.

The DBS’s forecast is largely based on factors such asrobust foreign investment inflow and productivity growth in the next couple ofyears.

Currently, the Vietnamese economy is worth 224 billion USD.This means it covers 69 percent of Singapore’s economic size which is worth 324billion USD./.
VNA
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