ASEAN CAN BE FOURTH-LARGEST GLOBAL ECONOMY BY 2030 WITH SUSTAINED GROWTH
KUALA LUMPUR, June 12 (Bernama) -- ASEAN can become the world’s fourth-largest economy by 2030 if the region maintains a steady gross domestic product (GDP) growth rate of 4.0-5.0 per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
He noted that ASEAN’s GDP growth projection for 2025 currently stands at 4.7 per cent, as shared by the ASEAN Secretariat.
“But things are very dynamic. The International Monetary Fund (IMF) has also just reduced their forecast of global growth.
“It really depends on the global economic situation,” he said during the press conference after the launch of the ASEAN Economic Community (AEC) Strategic Plan 2026–2030 here today.
Earlier in his speech, Tengku Zafrul said the five-year AEC Strategic Plan will keep ASEAN’s policies current and updated, so ASEAN can be more responsive to evolving business needs and emerging challenges.
“As the first instalment of this long-term vision, the plan serves as a comprehensive roadmap that outlines a clear and actionable path forward.
“This has been carefully developed to implement the economic aspects of the ASEAN Community Vision 2045, harnessing ASEAN’s vast opportunities and potential,” he said.
Tengku Zafrul said the AEC Strategic Plan will play a key role in enabling ASEAN to achieve its ambition of becoming the world’s fourth-largest economy by 2030.
He added that the plan emphasises the establishment of a robust digital economic framework, aimed at doubling ASEAN's digital economy to reach US$2 trillion by 2030.
The plan clearly demonstrates ASEAN’s readiness to embrace transformation, enhance connectivity, and promote innovation, all anchored on the core principles of sustainability and inclusivity, he said.
“This preparedness surely strengthens ASEAN’s global positioning and attractiveness.
“We are confident that ASEAN’s efforts on, among others, manufacturing productivity, resource efficiency, green financing and investments, as well as energy security and sustainability, will ensure that this region has the resilience to face future challenges and embrace golden opportunities,” he added.
-- BERNAMA
