Saeed said ASEAN's future growth will no longer depend on a single economy or commodity cycle but will be driven collectively by Vietnam, Malaysia, Indonesia, Thailand, and the Philippines. Together, the five countries account for more than 610 million people, representing nearly 90 percent of the region's population, giving them significant structural advantages through large domestic markets and strong manufacturing and export capacity.
First-quarter data for 2026 showed Vietnam posting the region's fastest economic growth at 7.83 percent year-on-year, followed by Indonesia at 5.61 percent and Malaysia at 5.4 percent, supported by robust private consumption and manufacturing.
Saeed noted that solid macroeconomic fundamentals, backed by substantial foreign exchange reserves, have strengthened the resilience of these economies against global interest rate volatility and geopolitical risks. As of mid-2026, Thailand held the region's largest foreign exchange reserves at approximately 280.5 billion USD, followed by Indonesia with 148.2 billion USD and Malaysia with 130.5 billion USD.
He added that strategic resources, including palm oil in Malaysia and Indonesia and key agricultural exports from Vietnam and Thailand, continue to serve as important anchors for economic growth and foreign currency earnings.
