{
  "id": 7736917,
  "title": "Largest South-east Asian economies to grow by 4.8% over 10 years: DBS report",
  "url": "https://urgent.news/2026/09/16/largest-south-east-asian-economies-to-grow-by-4-8-over-10-years-dbs",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T07:20:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/largest-south-east-asian-economies-to-grow-by-4-8-over-10-years-dbs-report"
  },
  "original_language": "en",
  "account": "Despite recent global turbulence, South-East Asia's six largest economies are projected to grow by an average of 4.8% annually over the next decade, according to a report by DBS Bank and consultancies Bain & Company and Vriens & Partners. Vietnam is expected to lead with a growth rate of 6.2%, followed by the Philippines (5.8%), Indonesia (5.4%), and Malaysia (4.3%). Singapore, meanwhile, is anticipated to record an average annual growth of 2.7%, slightly higher than previously forecasted at 2.5% from 2024 to 2034.\n\nDBS Bank's managing director and chief economist, Taimur Baig, highlighted Singapore's impressive growth despite its high income per capita and demographic challenges. He noted that Singapore's growth is bolstered by factors such as artificial intelligence-linked semiconductor demand, manufacturing exports, and robust investment momentum. In contrast, Indonesia lagged due to institutional and execution constraints, while the Philippines struggled with weaker investment and execution by the public sector.\n\nMinister for Trade and Industry (Energy and Industry) Tan See Leng pointed out that Singapore's growth is closely tied to the region's prosperity. He emphasized that Singapore captures over 60% of foreign direct investment (FDI) into the region, often using it as a base to expand into Southeast Asia. Tan suggested that Singapore's share of FDI is likely to shift outward as companies venture into other parts of the region, creating a mutually beneficial partnership.\n\nThe ASEAN Power Grid, slated for completion by 2045, is highlighted as a potential area requiring regional architecture, as it would enable member states to trade surplus electricity. Singapore, acting as the largest source of FDI into Indonesia, Malaysia, Thailand, and Vietnam, is also emerging as ASEAN's regional capital hub. The US remains Singapore's top FDI source, with increasing investments in AI, cloud infrastructure, and data centers. Meanwhile, China's FDI has grown in select regional markets, including Indonesia's nickel and electric vehicle battery supply chains.\n\nDBS Bank's report underscores Singapore's plans to strengthen South-East Asia's centrality and unity as it assumes the ASEAN chairmanship in 2027. The report's author, Tan See Leng, sees this as an \"ASEAN century,\" characterized by relative calm, peace, and stability amidst geopolitical disruptions and uncertainties. He believes Singapore's diverse economies, combined with a compelling growth and investment proposition, continue to present a strong fundamental advantage.",
  "summary": "The report was released on Sept 16 by DBS Bank and two consultancies.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}