Association of Southeast Asian Nations (ASEAN) summit held in Kuala Lumpur<\/a> in October, where the country’s neutrality helped bring major trading partners to the same table, the New Straits Times (NST) reported on Monday (Nov 17).\u00a0<\/p>\n\u201cSentiment wise, there continues to be a revival of optimism,\u201d HSBC said in a research note.\u00a0<\/p>\n
\u201cGiven the better-than-expected outturn, reduced trade uncertainty and domestic resilience, we are upgrading our gross domestic product (GDP) growth forecast to 5 per cent for 2025, from 4.2 per cent,\u201d it added.<\/p>\n
\u201cThis means Malaysia is likely to be ASEAN\u2019s second-fastest growing economy, on a par with Indonesia and just after Vietnam.\u201d\u00a0<\/p>\n
On Oct 28, HSBC raised its GDP growth forecast for Vietnam from 6.6 per cent to 7.9 per cent, according to news outlet VNE Express.<\/p>\n
Earlier, in its Aug 6 report titled \u2018ASEAN Perspectives: Domestic Resilience in focus for ASEAN’, the bank had projected Indonesia\u2019s GDP growth at 4.5 per cent.\u00a0<\/p>\n
HSBC also highlighted that\u00a0Malaysia\u2019s reciprocal trade agreement with the United States could further support economic growth in the country by reducing trade uncertainty.\u00a0<\/p>\n
The bank also cited that tourism has fully recovered to 2019 levels in Malaysia.\u00a0<\/p>\n
\u201cIn particular, it (Malaysia) leads the region in welcoming Chinese tourists, exceeding 20 per cent of its 2019 level. This is supported by a visa-free scheme with China and increasing flight connectivity,\u201d HSBC said.\u00a0<\/p>\n
\u201cWith next year\u2019s \u2018Visit Malaysia 2026\u2019 campaign, the boost to the (tourism) sector is likely to be even bigger,\u201d HSBC added.<\/p>\n","protected":false},"excerpt":{"rendered":"KUALA LUMPUR: Malaysia is poised to emerge as the second-fastest growing economy in Southeast Asia, after several financial…\n","protected":false},"author":2,"featured_media":301929,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164,935],"class_list":{"0":"post-301928","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-economy","12":"tag-malaysia"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/301928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=301928"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/301928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/301929"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=301928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=301928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=301928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}