ASEAN economy to expand 5.6 percent annually: Malaysian PM

The ASEAN economy is expected to expand 5.6 percent through to 2019 with the implementation of the ASEAN Economic Community (AEC), Malaysian Prime Minister Najib Razak said here on Friday.

Addressing at the ASEAN Business and Investment Summit 2015, Najib said that with the impending establishment of the AEC, he is confident that the foreign direct investment inflows will continue to increase in the future, Xinhua reported.

"I am confident we can sustain the expansion of our respective economies, bringing prosperity and higher standards of living for all of our people," he said.

He added that more economic opportunities and employment will be created in ASEAN, which will continue to be an attractive destination for business and investors.

Najib also underlined the importance of the role played by public-private partnerships and private sector in stimulating the economy, referring to the private sector as the driving force to unleash the full potential and create more wealth.