ADB says Asia remains world's most dynamic growth area

Asian Development Bank (ADB) Chief Economist Albert Park said Asia still remains the most dynamic growth area of the world. He expects that most of global growth is still going to come from Asia amidst Russia’s war on Ukraine. Park said the latest surge in coronavirus infections had less of an economic impact in Asia compared with other regions, owing to its high vaccination rates. He also noted that foreign direct investment remained robust in Asia. The ADB chief economist said that developing Asia should “stay focused on sustaining growth dynamism” for this year, adding that Asia leads in digital sector growth, and should continue its efforts to support digital sector growth to help MSMEs, and promote growth and inclusivity in the region.