Singapore’s stability and strategic position in the global economy will continue to contribute to its steady, albeit slower, growth compared to its regional counterparts. In contrast, several emerging economies in Southeast Asia are expected to experience more dynamic growth. Thailand is projected to see an average annual growth rate of around 4.5% during this period. This growth is supported by the recovery in tourism, ongoing economic reforms, and investments in infrastructure. Malaysia is anticipated to grow at about 4.5% to 5% annually, driven by its diversified economy, including strong performances in manufacturing and services, and efforts to enhance digital and infrastructure sectors.

The most rapid growth is expected in Vietnam and the Philippines. Vietnam is projected to grow at approximately 6% annually, thanks to its expanding manufacturing sector, increasing foreign direct investment, and strong export performance. The Philippines is expected to see a growth rate of around 6% as well, fueled by robust consumer spending, infrastructure development, and significant improvements in economic and business conditions. Indonesia is also anticipated to grow at around 5.5% per year, supported by its large domestic market, infrastructure investments, and economic reforms. Collectively, these growth projections highlight Southeast Asia’s vibrant economic landscape and its role as a key driver of global economic activity.