13 Oct [email protected]: From Crisis to Community and the Coming Changes
ASEAN celebrates its 50th anniversary this year. Yet, in many ways, the growth and economic integration of the region can be traced more clearly in the perspective of the last 20 years, following the Asian Financial Crisis of 1997-98. Beyond economic and political shifts within member states, the grouping has also grown with the addition of Vietnam, Laos, Myanmar and Cambodia, and the need to reinvent ASEAN has gradually been recognised.
Today’s ASEAN represents a combined market of over 600 million people with more than US$2.3 trillion in GDP. Two decades after the sharp impacts of the Asian Financial Crisis, ASEAN is now a significant player in the wider region and globally. There are, however, newer challenges that are emerging, together with opportunities. The group needs to respond to these challenges and seize opportunities to move ahead.
In preparing this report, the SIIA obtained the views of high-level representatives from leading investors based in Singapore, both multi-national corporations (MNCs) and Singaporean companies.
This report was released in conjunction with the 10th edition of the ASEAN and Asia Forum, SIIA’s flagship event, held on 5 October 2017. All views expressed in this special report are those of the authors, unless otherwise credited.