PwC: Malaysia set to grow faster than G7

Emerging economies, including Malaysia, are set to grow much faster than the G7 (seven industrialised nations) over the next four decades, said PricewaterhouseCoopers (PwC).

The firm said average growth in gross domestic product (GDP) in purchasing power parity (PPP) terms, showed Nigeria leading the way from 2012 to 2050, followed by Vietnam, India, Indonesia, Malaysia, China, Saudi Arabia and South Africa.

Malaysia was included in the extended 2013 study of the original PwC "World in 2050" study, initiated in 2006, covering the 17 largest economies.

The 2013 report, "World in 2050 The BRICs and Beyond: Prospects, Challenges and Opportunities", also included Vietnam, Nigeria, South Africa, Poland, Saudi Arabia and Argentina in the report, this year.

In a statement today, Managing Partner of PwC Malaysia, Sridharan Nair said Malaysia had recently regained its attraction as a destination for foreign direct investment, fuelled by government incentives, liberalisation policies, the Economic Transformation Programme and the Government Transformation Programme.