Vietnam contributes greatly to ASEAN economic growth: Malaysian expert

Yeah, who is Director of the Economic Studies Programme at the Jeffrey Cheah Institute on Southeast Asia at Sunway University, said since Vietnam joined ASEAN 25 years ago, the country has been able to sustain a high economic growth rate.

He went on to say that ASEAN has been able to sustain an average annual growth of at least 5 percent. “A large part of the contribution actually comes from Vietnam because of its high economic growth.”

ASEAN is now recognised as one of the most attractive regions for foreign investors, he said, adding that it has also become an important part of the global supply chains.

A very important achievement is that ASEAN has come together during the 36th ASEAN Summit to craft a comprehensive post COVID-19 recovery plan, he said.

The professor said Vietnam has played a very important role especially in facing the extraordinary challenge and ensuring that member countries are able to coordinate their efforts to contain the spread of the pandemic.

“We are fortunate in that many member countries are able to contain the virus successfully. And of course, Vietnam has led the successful countries.”

Under the chairmanship of Vietnam, ASEAN member countries can put together and agree upon a comprehensive regional plan to accelerate the region’s economic recovery, he said.

Regarding the South China Sea, called the East Sea in Vietnam, the professor said it has become a very important area for maintaining peace and security in the region.

Over the last 25 years, ASEAN has together with Vietnam’s role as a member managed to ensure continuing peace.

Vietnam has played an increasingly important role in driving the ASEAN agenda to be recognised as one of the world’s most dynamic regions as well as a peaceful and prosperous region for investments and businesses to prosper, he affirmed./.