The information was revealed in a new report by DBS Bank, Bain & Company and the Angsana Council, a non-profit advisory council by Monk’s Hill Ventures.
The report, titled “Navigating High Winds: Southeast Asia Outlook 2024 – 2034”, showed that Vietnam and the Philippines are set to grow at an average annual rate of more than 6% over the next 10 years.
“For Vietnam, this can be attributed to the country’s domestic ecosystem, which promotes a “healthy inter-provincial competition” and a strong workforce”, says the report.
“This sets them up to attract diverse investment sources,” it noted.
The report also encouraged the SEA-6 to adopt opportunities in five areas, including in emerging growth sectors, to be proactive in leveraging technology, develop financial markets, accelerate the green transition and embrace collective growth.
It revealed that the Philippines, Vietnam and Indonesia are well-positioned to produce low-cost energy, which will help to fuel the region’s growing energy needs.
