ASEAN aims for world’s 4th largest economy by ’30

The Association of Southeast Asian Nations (ASEAN) is poised to become the world’s fourth-largest economy by 2030, surpassing its current fifth-place ranking.

The bloc’s GDP surged from $2.5 trillion in 2015 to $3.8 trillion in 2023, fuelled by robust intra-Asian trade, which accounts for nearly 80 per cent of its total trade.

ASEAN has also attracted significant foreign direct investment (FDI), totalling around $230 billion.

The region is positioning itself as a global supply chain hub for low-carbon industries and high-value activities, including semiconductors, agriculture, data equipment, minerals, and metals.

Attribution: Vietnam News Agency