Asean's GDP to grow 5.6pct annually until 2019, says Najib

comments     Bernama     Published     Updated

Asean is expected to post an average annual gross domestic product (GDP) growth of 5.6 percent through to 2019, on the back of implementation of the Asean Economic Community (AEC), Prime Minister Najib Abdul Razak said.

"Given the impending establishment of the AEC, I am confident that foreign direct investment inflows will continue to increase well into the future," he said in his keynote address at the Asean business and investment summit 2015 in Kuala Lumpur today.

Najib also commended Asean for producing consistent economic growth throughout the preceding decades.

"I am confident we can sustain the expansion of our respective economies, bringing prosperity and higher standards of living for all of our people.

"To do this we need foreign and also Asean investments," he added.

Najib said by being an attractive destination for businesses and investors, Asean would create more economic opportunities and employment.

"It is our shared duty to elevate the level of living standards for all in Asean," he added.

Last year, he said Asean's collective foreign direct investments stood at US$136 billion, higher than that of the United States and China.

He said European Union investors continued to lead in Asean, contributing a 21.5 percent share, followed by Japan (9.8 percent) and the US (9.6 percent).

Najib also stressed the importance of public-private partnerships and the role of the private sector in driving the economy.

- Bernama



Malaysiakini
news and views that matter


Sign In