The ASEAN+3 Macroeconomic Research Office (AMRO) has forecast the ASEAN+3 region will grow to 4.2% in 2024 and 4.4% in 2025, in its latest quarterly update.
Jakarta (VNA) – The ASEAN+3 Macroeconomic Research Office (AMRO) has forecast the ASEAN+3 region will grow to 4.2% in 2024 and 4.4% in 2025, in its latest quarterly update.
The economy of ASEAN+3 countries, namely China, Japan and the Republic of Korea, is projected to grow 4.1%, while ASEAN is expected to expand by 4.7% in 2024, according to AMRO Chief Economist Hoe Ee Khor.
Khor said the region’s growth momentum will be driven by a continued recovery in foreign trade, resilient domestic demand and robust tourism growth due to relaxed visa policies in some countries.
He said Vietnam will be the best-performing country among ASEAN and ASEAN+3 countries in 2024 with a forecast of 6.2%, followed by the Philippines and Cambodia with expected growth of 6.1% and 5.6%, respectively. Indonesia is forecast to grow by 5.1%, followed by China (5%), Malaysia (4.7%), Laos (4.5%), Brunei (4%), China (3.3%), Thailand (2.8%), RoK (2.5%), Singapore (2.4%), Myanmar (1.8%) and Japan (0.5%).
☂ Inflation in ASEAN+3 countries is forecast to be 4.9% in 2024 and will decline to 4.1% in 2025. Meanwhile, inflation in ASEAN countries is forecast to be 6.1% in 2024 and will decline to 4.9% in 2025./.
A centre for commercial arbitration cooperation between the Association of Southeast Asian Nations (ASEAN) and China has made debut in Nanning, China's Guangxi Zhuang Autonomous Region, within the framework of the China-ASEAN Commercial Law Forum.
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Indonesia as an appealing destination for investment in energy transition. It is Southeast Asia’s largest energy consumer and the region’s fourth most populous country. However, the majority of the country's existing power plants still rely on fossil fuels.
The Vietnam Trade Office in Singapore urged all Vietnamese firms trading with Singapore to seriously comply with its legal regulations, particularly customs requirements.
The Grandma Island soccer team was about to go to compete for Setokok Island, Batam city. In the middle of the trip, the boat was hit by waves and overturned.
Mexico's Nuevo León leaders underscored the state’s keen interest in partnering with ASEAN – a region known for dynamic economic growth, a young population, an expanding middle class, and a growing role in global supply chains.
Thailand has imposed a comprehensive ban on electronic waste imports as it grapples with a burgeoning e-waste problem. A 2021 report from the Pollution Control Department revealed that the country generates over 400,000 tonnes of domestic electronic waste annually.
Phuket airport authorities said the incident did not affect flights or airport operations, and security personnel are also stepping up surveillance in public areas, with CCTV covering all the airport area.
The facility will integrate multiple components, including mining operations, a smelter, high-pressure acid leach (HPAL) processing, and production of precursors and cathodes.
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Themed “emerging trends in terrorism and violent extremism”, the event drew over 200 participants from domestic and international agencies, discussing the rapid evolution of terrorism and the need for stronger regional and global cooperation.
Indonesia aims to start nuclear power generation by 2034, with a government roadmap already in place to develop small modular reactors (SMRs) with capacities ranging from 300 to 500 megawatts.
The package, endorsed on June 24, comprises 481 projects designed to boost GDP by an additional 0.4% and generate temporary employment for about 7.4 million people nationwide.
An Indonesian official emphasised that energy security is extremely essential amid global geopolitical and economic fragmentation, highlighting the need for the energy industry to strengthen resilience and responsiveness in the face of fluctuating oil prices and the shift to clean energy.
ASEAN must deepen collaboration through platforms such as the ASEAN Senior Officials Meeting on Transnational Crime (SOMTC) to ensure regional responses keep pace with the rapidly evolving cyber threat landscape.
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