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ASEAN economy to enjoy robust growth in 2016

by ChemOrbis Editorial Team - content@chemorbis.com
  • 20/11/2015 (14:16)
According to the latest economic outlook of the Organization of Economic Cooperation and Development (OECD), economic growth in the Association of Southeast Asian Nations (ASEAN) will remain robust in 2016. The OECD expects the ASEAN economy to grow by 6.5% next year.

Among the member states, the strongest growth will be seen in Philippines which is expected to expand by 6% in 2016 owing to stronger domestic demand and higher foreign direct investments. It was followed by Vietnam with a growth rate of 5.9%, Indonesia with 5.2%, Malaysia with 4.6% and Thailand with 3.1%. For India and China, meanwhile, the OECD expects to see growth rates of 6.5% and 7.3%, respectively in 2016.

Meanwhile, Malaysia’s Prime Minister Najib Razak reported that the ASEAN economies will grow to expand 5.6% through to 2019 on the back of the establishment of the ASEAN Economic Community (AEC) through which the ASEAN countries aim to attract more investors.
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