SINGAPORE (Feb 11): Vietnam’s economy has been growing steadily in recent years and it is now reaching a point where it is going to matter a lot more in the global economy, in Asean and in regional political dynamics. In 2007, Vietnam’s economy was less than 6% of the total Asean economy and by 2017, it was above 8%. At current rates of growth, its share of Asean’s output will exceed Malaysia’s and Singapore’s and match Thailand’s within the next decade. It is also a growing market for other Asean economies. For example, from a negligible share of Singapore’s exports 20 years ago, Vietnam is now its 10th largest market — and that importance can only grow.

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