S Arabia's SABIC CEO remains upbeat about Asia’s economic growth

08 April 2013 04:25  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s chemicals major SABIC said over the weekend that it is optimistic about Asia’s economy, as it will be fuelled by the growth in China and other fast-developing countries in the region such as Indonesia.

“China will continue to play a major role in enabling Asian economies’ growth and steering the global economy stability,” SABIC vice-chairman and CEO Mohamed Al-Mady said at the annual Boao Forum for Asia (BFA) conference in Hainan, China.

“Clearly reflected in the country’s [China] 12th Five-Year Plan, it is increasing its focus on reducing environmental impact, increasing its value addition through efficiency and technology while maximising growth of its domestic consumption,” he said.

The rapid economic development of Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, Turkey, South Korea and Vietnam will also lead an “expanded presence in terms of opportunities and growth”, Al-Mady added.

The BFA 2013 conference runs from 6-8 April.

By: Nurluqman Suratman

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