Kuala Lumpur: ASEAN can become the world’s fourth-largest economy by 2030 if the region maintains a steady gross domestic product (GDP) growth rate of 4.0-5.0 per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. He noted that ASEAN’s GDP growth projection for 2025 currently stands at 4.7 per cent, as shared by the ASEAN Secretariat.

According to BERNAMA News Agency, the Minister highlighted the dynamic nature of global economic forecasts, referencing the International Monetary Fund’s (IMF) recent reduction in global growth projections. “It really depends on the global economic situation,” he remarked during a press conference following the launch of the ASEAN Economic Community (AEC) Strategic Plan 2026-2030.

Earlier in his speech, Tengku Zafrul emphasized that the five-year AEC Strategic Plan is designed to keep ASEAN’s policies current and responsive to evolving business needs and emerging challenges. He described the plan as a comprehensive roadmap that outlines a clear and actionable path forward, serving as the first instalment of the long-term vision to implement the economic aspects of the ASEAN Community Vision 2045.

Tengku Zafrul stated that the AEC Strategic Plan will be instrumental in enabling ASEAN to achieve its ambition of becoming the world’s fourth-largest economy by 2030. The plan focuses on establishing a robust digital economic framework, aiming to double ASEAN’s digital economy to reach US$2 trillion by 2030.

The Minister further elaborated on ASEAN’s readiness to embrace transformation, enhance connectivity, and promote innovation, all anchored on the core principles of sustainability and inclusivity. He expressed confidence in ASEAN’s efforts in areas such as manufacturing productivity, resource efficiency, green financing and investments, as well as energy security and sustainability to ensure the region’s resilience in facing future challenges and seizing opportunities.