Scotiabank Releases ASEAN Regional Outlook Report
CABC Founding Member, Scotiabank, recently released an economic paper looking at the Core ASEAN Regional Outlook. This publication looks at the financial metrics of six Core ASEAN economies: Singapore, Philippines, Indonesia, Malaysia, Thailand and Vietnam. The report also considers each nations’ capital market dynamics, economic outlook and political environment in order to inform on the risks and opportunities in the region.
Full Report Here
Towards ASEAN Economic Community 2025
By Sanchita Basu Das
ASEAN will require a new economic community vision beyond 2015, given the changing nature of the region’s political economic landscape.
Such a new vision, suggestively called AEC 2025, needs to be based on ASEAN’s own strengths and weaknesses. The present slowdown in the US and the EU markets, growing competition from China and possibly India will convince ASEAN to hasten economic cooperation among its members. This will offer opportunities for foreign investors.
AEC 2025 should aim for an economically desirable, politically ac- ceptable and developmentally achievable region. It should aspire to increase productivity, enhance connectivity, liberalize services sector, give due attention to the PPP model of regional investment, deepen financial sector cooperation and seek new FTA partners.
- The new vision needs to address cross-cutting issues such as good governance, stronger institutions, and a transparent economic score- card. In delivering on its promises by 2025, ASEAN should be able to build up on its credibility and maintain its centrality in the FTA structure of the Asia-Pacific in the long run.
Culture and Tourism
Tourism represents 10% of ASEAN GDP and is expected to grow substantially in the coming years. In 2011, ASEAN adopted its Tourism Strategic Plan, with a renewed vision to integrate their leisure sectors and present ASEAN as a single travel market. The opening of the new International Cruise Terminal in Singapore is expected to handle 1.5 million passengers in 3-5 years. Source: World Economic Forum T&T Competitiveness Report 2012 (Download Below)