ASEAN’s Top 6 Economies to Watch in 2017
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Mon, 22 May 2017
Oxford Business Group
As the economic outlook improves once again, Southeast Asian nations are expected to be top performers this year. Recent Oxford Business Group (OBG) CEO Surveys conducted in Myanmar, Vietnam and Indonesia show that the majority of business leaders expect high-single-digit growth. Indeed, developing Asia as a whole is on track to deliver growth of 5.7% in 2017, following a 5.8% expansion in 2016, according to the Asian Development Bank (ADB).
That forecast could be exceeded if China continues to outperform expectations, and India sees a 7.4% annual increase in economic activity. However, ASEAN businesses continue to cite bureaucratic and compliance hurdles, plus hidden trade barriers, as serious challenges facing further integration and development.
The common theme throughout the region is the need for long-term access to finance to fund investments in better road, air and sea connectivity. Further deepening of financial markets and increased risk sharing requires regional development banks that can channel savings into long-dated projects. In that regard, the process of further ASEAN integration, and the renewed impetus for cooperation in Asia after the recent US presidential election, could prove to be the main drivers of investment in regional infrastructure.
To find out more on the top ASEAN economies, please click the link below.