Asean’s next decade

DEVELOPMENT gaps are being narrowed gradually in Asean as the group’s emerging economies expand at a faster rate than their more advanced peers. However, narrowing disparities and improving connectivity will remain essential for the region to enjoy stable growth in the years to come, says the Japan International Cooperation Agency (JICA).

According to Irigaji Hidetoshi, director-general of the Southeast Asia and Pacific Department at JICA headquarters in Tokyo, per capita gross domestic product (GDP) growth rates are forecast at 8-9% for the CLMV (Cambodia, Laos, Myanmar, and Vietnam) economies between 2015 and 2025. The other six Asean countries will expand in a range of 3.5% to 6.5% during the same period.