UPBEAT ASEAN OUTLOOK
Southeast Asian countries' economic prospects look bright over the coming years, supported by greater regional integration, better transport connectivity, and continued reform momentum, a report from Fitch Group said yesterday.
Citing the Regional Comprehensive Economic Partnership and China's Belt and Road Initiative as two key factors aside from the Asean Economic Community, Fitch Group unit BMI Research said such elements would bring the region closer together and fuel growth in the coming years.
Among the countries, the research house expected Myanmar and Vietnam to be the growth outperformers, while Singapore and Brunei which already have much higher gross domestic product per capita are likely to see much slower rates of expansion. Myanmar is expected to grow at an average of 7.2 per cent average per annum over the next 10 years. – China Daily