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.
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.