World

Vietnam among ASEAN economies predicted to grow fast

Vietnam is among the six ASEAN economies forecast to grow by 4.2% in 2023, outpacing the global gross domestic product (GDP) growth of 2%, according to Maybank Group president and chief executive officer (CEO) Datuk Khairussaleh Ramli.
Vietnam among ASEAN economies predicted to grow fast ảnh 1Illustrative image (Photo: https://www.malaymail.com/)

Kuala Lumpur (VNA) – Vietnamis among the six ASEAN economies forecast to grow by 4.2% in 2023, outpacing the globalgross domestic product (GDP) growth of 2%, according to Maybank Group president and chiefexecutive officer (CEO) Datuk Khairussaleh Ramli.

Opening the ongoing hybrid conference Maybank InvestASEAN 2023 themed “ASEAN Reboot: Reimagining The Future” held by Maybank inSingapore from June 20-21, Ramli emphasised the resilience of ASEAN after the COVID-19 pandemic.

He noted that with a combinedpopulation of over 660 million and a collective GDP of almost 3.66 trillion USDin 2022, ASEAN ranks as the third largest regional economy in Asia and thefifth biggest economy in the world, after the US, China, Japan, and Germany.

Foreign direct investment(FDI) inflows to ASEAN rebounded in 2021 to 174 billion USD, up 42% from theprevious year, reflecting the attractiveness of the region’s economy for globalinvestors.

ASEAN’s resilience was evident inportfolio fund flows, he said, noting that “even when foreign investors pulledout of equities last year, there was a sufficiently deep domestic investor basein the region to absorb the volatility”.

Anotherarea of optimism for the region's economy is on digitalisation, particularly inthe financial service sector, he added./.

VNA
#ASEAN economies #Vietnam #GDP growth #Maybank Group #regional economy #Vietnamplus #Vietnam news #Vietnam News Agency Vietnam ASEAN
Follow VietnamPlus

Related News

Vietnam named bright spot in ASEAN

Vietnam named bright spot in ASEAN

Vietnam’s gross domestic product (GDP) is expected to stay between 6 and 7 percent from 2016 to 2018, according to the latest report from the Institute of Chartered Accountants.

See more

Cargo at Long Beach Port, California, the US. (Photo: Xinhua/VNA)

ASEAN accelerates trade talks with US ahead of tariff suspension deadline

According to the earlier US tariff announcement, Cambodia encounters the highest rates of 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), and Indonesia (32%). Meanwhile, Malaysia, Brunei, the Philippines, and Singapore face lower rates ranging from 10% to 24%.

At the panel discussion (Photo: VNA)

Indonesia seeks urban infrastructure to combat flooding

Indonesia, with over 17,000 islands, is among the countries most vulnerable to rising sea levels, storms, flooding and seismic activity. Jakarta, in particular, is experiencing severe land subsidence — with some areas sinking by as much as 25 centimetres per year — which, coupled with tidal surges, has led to increasingly frequent and severe flooding.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (Photo: Bernama)

Malaysia to hold second round of trade talks with US

Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.

Thailand tightens e-commerce rules

Thailand tightens e-commerce rules

The Thai government has vowed to more closely supervise those deemed to be “high impact” platforms with a large number of consumers, seeking to address subpar products in an effort to protect the customer interest.

Thailand's express parcel delivery market is expected to maintain steady growth, fuelled by the e-commerce market. (Photo: Bangkok Post)

Thailand: E-commerce to fuel rise of express deliveries

According to ShipHub, a unified logistics platform service, Thailand's express parcel delivery market continues to experience steady growth, fuelled by the rapid expansion of e-commerce, which has become a cornerstone of the digital economy.

Thailand ramps up efforts to develop electric vehicle industry (Photo: Bangkok Post)

Thailand targets faster EV growth

BoI Secretary General Narit Therdsteerasukdi said EV manufacturers operating in Thailand have so far employed around 9,600 workers.

Thai Minister of Digital Economy and Society Prasert Jantararuangtong. (Photo: Bangkok Post)

Thailand upgrades data system to combat online fraud

Thailand plans to invest 200 million THB (6 million USD) to develop a centralised data management system powered by artificial intelligence (AI) for its Anti-Online Scam Operation Centre (AOC), aiming to enhance the centre’s overall efficiency.

Thailand approves electronic securities bill. (Illustrative photo: nationthailand.com)

Thailand approves electronic securities bill

The new bill will simplify the trading of securities, such as equity instruments, investment units, and debt instruments, making it easier for retail investors to buy and trade assets, and providing better protection for investors.

Laos records more than 1,400 dengue fever cases

Laos records more than 1,400 dengue fever cases

To prevent the spread of dengue fever, Lao health authorities have called on citizens across the country to raise awareness of prevention measures. These include regularly cleaning living environments, eliminating stagnant water sources, disposing old tires, changing water in flower vases, wearing long-sleeved clothing, and using mosquito repellent sprays or coils.

Indonesian Deputy Minister of Trade Dyah Roro Esti at the meeting with the Japan Indonesia Association in Tokyo, Japan, on June 9. (Photo: ANTARA)

Indonesia, Japan collaborate to tackle global trade challenges

Indonesia is striving to enhance transparency, ensure regulatory certainty, drive market diversification, and strengthen domestic market resilience. Indonesia would like to invite Japanese business actors to cooperate in navigating this challenging time, Esti said.