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Economy

Vietnam on track to overtake Singapore in decade: DBS

Region's 'rising star' to benefit from US-China trade war, bank says

Laborers work at the construction site of an apartment building in Hanoi.   © Reuters

NEW YORK -- Vietnam's economy could grow as much as 6.5% a year over the next ten years and exceed Singapore in size by 2029, according to DBS Bank.

Fundamentals including improvements in productivity and infrastructure, against the larger backdrop of the Sino-American trade war, have made Vietnam a top destination for foreign direct investment, a trend that will continue, DBS senior economist Irvin Seah said in a research note on May 28. The bank is under DBS Group Holdings.

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