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ASEAN can drive global economic growth

Posted on March 19, 2015

KUALA LUMOUR, March 19 (PNA/Bernama) — Sustainable ASEAN economies could attract substantial foreign direct investments (FDIs) to the region, thus driving global economic growth, says Treasury Secretary General Tan Sri Dr Mohd Irwan Serigar Abdullah.

At the ASEAN Finance Deputies’ meeting this morning, the World Bank said ASEAN is placed in a very favorable position in terms of attracting FDIs.

“ASEAN countries are driving the world’s growth, that means they have been implementing the right policies (in their economies),” Mohd Irwan Serigar told reporters on the sidelines of the 1ASEAN Entrepreneurship Mini Summit (Mini 1AES) here.

He said the World Bank targets ASEAN economies to grow by more than 5.0 percent this year, with contributions from countries like Malaysia, Thailand, Indonesia and the Philippines.

Moving forward, he said, ASEAN nations should focus on trade facilitation and financial inclusion to drive the region’s growth.

Such matters, besides the ASEAN Infrastructure Financing Mechanism and ASEAN SME Bank, will be discussed in this afternoon’s session, he said.

Senior ASEAN finance and central bank officials met here today to prepare the agenda for the 19th Asean Finance Ministers’ Meeting (AFMM) to be held on Saturday. (PNA/Bernama)

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