Viet Nam’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.

A corner of Ho Chi Minh City (Source: Global Business Outlook)

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

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

The DBS’s forecast is largely based on factors such as robust foreign investment inflow and productivity growth in the next couple of years.

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

Source: VNA