ASEAN economy to enjoy robust growth in 2016
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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