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.
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”.
ღ Anotherarea of optimism for the region's economy is on digitalisation, particularly inthe financial service sector, he added./.
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.
The threat of macro-economic headwinds dragging global growth should be the impetus ASEAN needs to push its reform agenda harder in 2019, according to a report recently released by the HSBC Group.
Vietnam stands out as the only ASEAN economy to achieve positive growth in 2020 and rebound to an 8.1 percent growth rate in 2021 – the highest in Asia, the Hong Kong Shanghai Banking Corporation (HSBC) said in a recent report.
The emergence of the Omicron COVID-19 variant could impact the recovery of trade in goods and services in ASEAN economies, said Sithanonxay Suvannaphakdy, researcher at the ISEAS–Yusof Ishak Institute of Singapore.
Major ASEAN economies should be able to survive volatile market swings in 2023 following similar turmoil last year thanks to the region's strong fundamentals, according to Singapore-based United Overseas Bank (UOB).
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Member states also reviewed progress on six priority areas for 2025, including the development of an underground cable framework, the follow-up agreement to the ASEAN Petroleum Security Agreement (APSA), the launch of the ASEAN Energy Efficiency Database, and the rollout of an investment platform for sustainable building initiatives.
In March, Thai Prime Minister Paetongtarn Shinawatra met with Formula 1 chief Stefano Domenicali and said Thailand would commission a feasibility study into hosting a Grand Prix on a Bangkok street circuit from 2028.
The proposed giant sea wall aligns with bilateral cooperation and has been designated a national priority, considering that several regions in Indonesia are experiencing land subsidence of 10–15 centimetres per year.
International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
The partnership aims to strengthen collaboration in the exploration and exploitation of mineral resources, including gold, copper, and manganese, as well as in the development of steel, aluminum, and renewable energy industries.
The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
Aircraft are prohibited from flying below 6,000 metres in the vicinity of the volcano, and should also remain alert to the presence of volcanic ash, which can disrupt flights.
Illustrative image (Photo: //www.malaymail.com/) 
