Asean continues to miss own targets for economic integration: business council
Rosy headline numbers mask underlying concerns, intra-Asean trade still lagging, warns EU-Asean Business Council
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UNDERNEATH rosy headline figures, Asean's foreign direct investment (FDI) numbers suggest cause for concern, as the region continues to miss its own targets for regional economic integration, and intra-Asean trade continues to lag, warns the EU-Asean Business Council in its latest report.
According to figures from the Asean Investment Report 2019, Asean attracted an all-time high inflow of FDI in 2018, the third consecutive year of rising investment. "FDI rose from US$147 billion in 2017 to US$155 billion, with four member states reaching new records (Cambodia, Indonesia, Singapore and Vietnam). The region's share of global FDI inflows rose from 9.6 per cent in 2017 to 11.5 per cent last year."
But the headline numbers mask underlying concerns, said the business council in its report.
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