Lao PM Sees Bright Future for ASEAN
World Economy

Lao PM Sees Bright Future for ASEAN

A new economic order will emerge by 2030, with Southeast Asia taking on a central role, Lao Prime Minister Thongloun Sisoulith told business leaders in his nation’s capital on Monday.
“Studies have shown that the ASEAN economy is expected to grow at 7% per annum, with a GDP reaching $4.7 trillion in 2020, and the possibility of becoming the fourth-largest economy in the world by 2030,” Thongloun said in his opening remarks for the ASEAN Business and Investment Summit, of which the Nikkei Asian Review is a strategic media partner.
The ASEAN gathering comes nine months after the launch of the ASEAN Economic Community and one year before the association’s 50th anniversary. The theme that the Laotians have chosen for this year’s ASEAN events is telling: “Turning Vision into Reality for a Dynamic ASEAN Community.” This reflects frustration that the bloc is long on ambition but short on real progress toward economic integration.
To maintain its ambitious 7% growth target, the association will need to continue to strive for seamless movement of goods, services, capital and skilled labor. “I am of the view that we should further deepen integration of services within ASEAN,” Thongloun added, “towards integration into the global supply chain in goods and services.”
He called on members to work together to “further enhance ASEAN’s attractiveness as a global investment destination.”
ASEAN today has a combined gross domestic product of $2.43 trillion, making it the sixth-largest economy in the world. The Laotian leader sees that figure doubling in the next five years.

Short URL : http://goo.gl/Fn4Ktn
  1. http://goo.gl/xGXXc8
  • http://goo.gl/8BuQPr
  • http://goo.gl/ZAxhYM
  • http://goo.gl/0ZbJQv
  • http://goo.gl/Sfh7bv

You can also read ...

China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...