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Publication permit No: 60/GP-TTĐT , April 05, 2010.
Vietnam is foreed to grow far beyond the world average
Date: 6/26/2023 9:36:49 AM
Vietnam’s economy is in the group expected to grow rapidly in ASEAN, and at the same time, far exceeds the expected global GDP growth of only 2%
Currently, ASEAN ranks as the third largest regional economy in Asia and the fifth largest in the world, after the US, China, Japan and Germany.
The resilience of ASEAN economies
Speaking at the opening of the ASEAN Investment Conference organized by Maybank in Singapore, Mr. Khairussaleh Ramli, Chairman and Chief Executive Officer (CEO) of Maybank Group, emphasized the resilience of ASEAN after the COVID-19 pandemic. With the theme "Rebooting ASEAN: Envisioning the Future", the event was held on June 20 and 21.
Established in 1960, Maybank is currently the largest financial group in Malaysia. In addition to Malaysia, Maybank soon expanded its business to other countries such as Singapore, Vietnam, the UK and the US.
Invest ASEAN 2023 is one of the key activities in Maybank’s M25+ strategy, to explore opportunities in Southeast Asia’s emerging economies, innovative corporations, and capital allocation trends. , Islamic wealth management (IWM), greening industrialization and AI technology.
With a total population of more than 660 million people and a total GDP of nearly $3,660 billion by 2022, Dato’ Khairussaleh Ramli noted that ASEAN ranks as the third largest regional economy in Asia and the third largest economy. year in the world, behind the US, China, Japan and Germany.
In particular, foreign direct investment (FDI) inflows into ASEAN have increased again in 2021, to $174 billion, up 42% year-on-year, reflecting the attractiveness of the region’s economy to the region. global investors.
Khairussaleh said ASEAN’s resilience was evident in investment flows, noting that even when foreign investors pulled out of the stock market last year, investors in the region were still strong enough to accept the change.
Another area of optimism for the region’s economy is digitalisation, particularly in the financial services sector.
Khairussaleh said that the digital economy currently accounts for only 7% of ASEAN’s GDP, much lower than the 35% in the US and 16% in China.
"We still have a lot of room to grow. However, ASEAN must consider the fact that the bloc is facing challenges as the global economy slows, due to inflationary pressures and geopolitical fragmentation. politics and geo-economics", - VNA quoted a Maybank leader as saying.
Optimistic forecast for Vietnam
For Vietnam, Mr. Khairussaleh Ramli affirmed, Vietnam’s economy is in the group that is expected to grow fast in ASEAN.
The Chairman and CEO of Maybank Group emphasized that the six ASEAN economies including Malaysia, Singapore, Thailand, Indonesia, the Philippines and Vietnam, are expected to grow by 4.2% in 2023. outstripping the projected 2% global Gross Domestic Product (GDP) growth.
Mr. Kim Thien Quang, General Director of Maybank Securities, said that as part of Maybank’s M25+ strategy, Vietnam is a key market that the group will continue to invest in in the coming years.
"We will take advantage of the group’s financial strength, resources and network to accompany and connect Vietnamese businesses with foreign investors, towards ESG development. Especially we will continue to build systems, human resources and innovate in services so that Maybank Securities continues to be an ideal partner for individual and institutional customers in the Vietnamese market," - Mekong ASEAN quoted Mr. said.
(Source:Sputniknews)
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NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
