Asia continues to be the world's growth engine

Despite a slow recovery in the global economy , Asian economic growth is expected to reach 4.5% this year.

In Asia, in the annual report on economic prospects recently released at the Boao Forum for Asia 2024, experts said that Asia will maintain strong growth momentum with bright prospects. Asia will continue to be the region that contributes the most to global economic growth.

Despite a slow recovery in the global economy, Asia's economic growth this year is expected to reach 4.5% - higher than last year's figure, said Boao Forum Secretary-General Liu He at the symposium on the Asian Economic Outlook 2024 Annual Report. Asia accounts for more than 35% of global exports and 43% of world trade.

Mr. Li Baodong - Secretary General of Boao Forum for Asia said: "Trade protectionism and global economic fragmentation are increasing. The world economy has not yet returned to the growth trajectory as before COVID-19. Asian economies are also facing many fluctuations. But this region is still showing resilience. Asia's growth momentum will come from China, India, Indonesia, Saudi Arabia and many other developing economies."

In fact, FDI flows into many Asian economies are on a sharp decline. The reason is the wave of moving factories closer to consumption places or laws encouraging the opening of semiconductor factories in the US and Europe. The green industrial revolution is considered the solution for Asia to retain and attract FDI flows.

Mr. Xu Zhibin - Deputy Director of the State Administration of Foreign Exchange of China said: "From a global and Asian perspective, the current fluctuations in FDI flows are considered very normal. China is making efforts to remove many restrictions on foreign enterprises in the manufacturing sector, especially the high-tech sector, and continue to increase openness in the telecommunications - medical and green energy sectors".

On the sidelines of the event, the ADB also released a report on sustainable development - Towards a zero-carbon electricity era and promoting green development in Asia. This year's Boao Forum for Asia will have more than 40 thematic conferences revolving around the topics of Asian-world economy, technological innovation, social management, and international cooperation.

According to VTV

Source: https://doanhnghiepvn.vn/quoc-te/chau-a-tiep-tuc-la-dong-luc-tang-truong-cua-the-gioi/20240328104216045