Asean-6 poised to outpace China’s growth in the next decade: report
The region has strengthened its fundamentals by boosting key areas such as manufacturing and investing in emerging sectors
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SOUTH-east Asia could outpace China’s growth in the next decade with the top six Asean economies – Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam – expected to average a 5 per cent annual gross domestic product growth, according to a recent report.
In contrast, China is forecast to maintain a steady GDP growth of 3.5 to 4.5 per cent over the same period from 2024 to 2034, according to a new report by DBS Bank, consulting firm Bain & Company, and Angsana Council, a non-profit advisory group founded by Singapore-based tech investor Monk’s Hill Ventures.
Notably, for the first time in 10 years, South-east Asia drew more foreign direct investment (FDI) than China last year.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Middle East-linked energy supply shocks put Asean Power Grid back in focus
New CPF life-cycle investment scheme could channel up to S$9 billion a year into Singapore stocks: Citi
Keppel divests i12 Katong mall for S$372 million
COEs: Mainstream car category tops bidding at S$123,010 as demand ‘just too strong’
