Today: 03/12/2021 08:55:12 (GMT+7)
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Vietnam’s economy to surpass Singapore's by 2030: DBS Bank

Vietnam’s economy is expected to grow by between 6-6.5 percent over the next decade, and at this pace, it will surpass Singapore by 2030, DBS Bank experts have said.

Last year, Vietnam’s economy was worth US$ 343 billion while Singapore’s was US$ 337.5 billion, and Malaysia’s hit US$ 336.3 billion. This ranks Vietnam the 40th largest economy globally and fourth in the Association of Southeast Asian Nations (ASEAN).

Vietnam’s economy, surpass Singapore, DBS Bank, 40th largest economy, gross domestic product, export revenue

Workers produce electronic components at a factory in Vinh Phuc province.

In their latest forecast, the International Monetary Fund (IMF) and the Asian Development Bank (ADB) said Vietnam is on track to outpace both Malaysia and Singapore this year.

Despite two waves of Covid-19 in the first half of this year heavily impacting industrial hubs, Vietnam still posted gross domestic product (GDP) growth of 5.64%. Its export revenue rose 28.4% percent compared to the same period last year.

Although GDP expanded slower than expected, it was still much higher than the 1.82% recorded in the same period last year.

This suggests that policies, strategies and directives aimed at both controlling the pandemic and ensuring socio-economic development have been effective.

Provincial leader orders to firmly maintain disease safety to sell lychee and develop economy
(BGO) – Chairman of Bac Giang provincial People’s Committee (PPC) Le Anh Duong on June 9 paid a field trip to inspect the task of Covid-19 Prevention and Control as well as lychee consumption promotion in Luc Ngan district.
 
Luc Ngan focuses on developing fruit trees, forest-based economy in association with tourism
(BGO) - On the morning of April 13, the Standing Board of the Bac Giang provincial Party Committee had a working session with the Standing Board of the Luc Ngan district Party Committee on the implementation of the resolutions of the Party congresses at all levels for the 2020-2025 tenure and key tasks for 2021; directions and tasks for the next time. 
 
Economy off to positive start
Vietnam has begun 2021 with improved GDP growth, foreign direct investment and trade, but the number of suspended businesses remains high.
 
Vietnam looks forward dynamic and effective collective economy
The Prime Minister has recently approved the Collective and Cooperative Economy Development Strategy for the 2021-2030 period with the aim of promoting a dynamic, efficient and sustainable collective economy.
 
Bac Giang builds IT infrastructure, digital economy
(BGO) - Bac Giang province is implementing a roadmap for developing information and communication technology infrastructure, digital infrastructure, digital technology application, and digital transformation to build an e-government, digital economy and digital society in the locality. The province has issued smart urban development programmes, schemes and plans to successfully build its e-government and digital government.
 

Source: NDO/VNA

Vietnam’s economy, surpass Singapore, DBS Bank, 40th largest economy, gross domestic product, export revenue
 
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