The World Economic Forum, meeting in Ho Chi Minh City, is highlighting the economic potential of Southeast Asia, especially the emergence of what it termed the VIP counties — Vietnam, Indonesia, and Philippines — that it foresees getting the attention that the BRICs have received in recent years.
Brazil, Russia, India and China, otherwise known as the BRIC bloc of nations, has long been the focus of global multi-nationals. The Forum says now the VIP economies are starting to show up on the global business radar.
Klaus Schwab, World Economic Forum founder, says ABRIC – the Association of Southeast Asian Nations (ASEAN), Brazil, Russia, India and China – are ready to take centre stage, and East Asia should play a more significant role in global affairs.
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