Vietnam among Southeast Asia's fastest-growing economies next decade: Report
The six leading economies in Southeast Asia, including Vietnam, the Philippines, Indonesia, Malaysia, Thailand, and Singapore, are projected to grow at an average annual rate of 5.1% over the next decade.
Hanoi (VNA) – The six leading economies in Southeast Asia, including Vietnam, the Philippines, Indonesia, Malaysia, Thailand, and Singapore, are projected to grow at an average annual rate of 5.1% over the next decade.
This projection was released in a report on August 1 by the Development Bank of Singapore (DBS), consulting firm Bain & Company, and the Angsana Council.
In the report titled "Navigating High Winds: Southeast Asia Outlook 2024 – 34", analysts predict that these top Southeast Asian economies will benefit from the region's consumer market of over 600 million people and strong ties with major trading economies. However, increasing protectionism in developed markets and widespread deindustrialisation due to shifting competitive dynamics could negatively impact these economies.
Specifically, the report forecast Vietnam, Indonesia, and the Philippines to be the faster-growing countries, with Vietnam continuing to stay ahead.
🌞 For Vietnam, positive drivers include a well-positioned export-oriented economy, highly diverse sources of FDI, productive inter-provincial competition, and high-quality workforce and education levels. Nevertheless, negativities remain, with the report listing them as credit weakness, energy and water shortages, and slow movement on green infrastructure, among others./.
Vietnam has a market economy, if the pace of reforms it has undertaken from the Doi Moi (Renewal) period in 1986 to now is taken into consideration, Senior Lecturer in Economics at Australia’s Deakin University Dr. Cong Pham has assessed.
The aging population and the unique characteristics of the older cohort in Vietnam are golden opportunities for the country to develop a silver economy.
Vietnam was the fastest growing digital economy in ASEAN in 2022 and 2023 and it is expected to maintain this position until 2025, with the number of smartphones users anticipated to reach 67.3 million by 2026, accounting for 96.9% Internet users.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
