Sri Lanka is ranked among Asia Pacific’s top 10 foreign direct investment (FDI) hotspots, according to a study by US-based global information company IHS Inc.

The other Asia Pacific FDI hotspots are Malaysia, China, Indonesia, Vietnam, the Philippines, Myanmar, Thailand, India and Bangladesh.

In a statement yesterday, IHS said that over the next decade, the Asia Pacific is forecast to be the fastest growing region of the global economy and the region that offers the biggest potential gains for FDI.

“The Asia Pacific region will grow at an average annual rate of 4.5 per cent per year, boosted by rapid growth in consumer spending in China, India and Southeast Asia,” said IHS Chief Economist Asia Pacific Rajiv Biswas.

Malaysia, Indonesia, the Philippines and Thailand are also expected to join the ranks of Asian nations with a Gross Domestic Product exceeding US$1 trillion by 2030. “This will help to increase the geopolitical and economic importance of ASEAN and economic grouping in international diplomacy and the global dialogue on trade, investment and international standards-setting,” said.

IHS said that Southeast Asia is expected to be one of the world’s fastest growing regions with these four ASEAN nations.

(With inputs from Bernama)