Malaysian PM: ASEAN economy to expand 5.6%
VGP – Malaysian PM Najib Razak said that ASEAN economy will expand 5.6% in the next five years following the establishment of the ASEAN Community.
Speaking at the 2015 ASEAN Business and Investment Summit, the Malaysia PM believed that foreign direct investment inflow will increase in the region thanks to the formation of the regional economic community, creating more economic and job opportunities for the bloc’s citizens.
He also stressed the importance of the public and private partnership and private sector in accelerating economic growth as the private sector is the driving force to liberate potentials.
According to ASEAN Integration Report, ASEAN still maintained higher growth compared to the global average rate. ASEAN economy is forecast to grow 4.6% this year and 4.9% in 2016.
The member economies have witnessed changes in which service sector plays an important role since the inception of the blue print on economic community in 2007, the report says.
Last year, ASEAN lured a total of more than US$ 136 billion in foreign investment, the report shows./.
By Huong Giang
