Asean is poised for post-pandemic inclusive growth and prosperity - here's why

Asean's outlook remains promising and the region is well on track to become the world's fourth largest economy by 2030.

Asean may become the world's fourth largest economy in 2030. PHOTO: ST FILE
New: Gift this subscriber-only story to your friends and family

The Covid-19 pandemic caused global investment activities to fall - due to economic uncertainties, lockdowns, supply chain disruptions and postponement of investment by multinational enterprises.

Asean also recorded a decline in foreign direct investment (FDI) in 2020 to US$137 billion, down from its highest-ever inflow of US$182 billion in 2019 when it was the largest recipient of FDI in the developing world.

Already a subscriber? 

Dive deeper at $0.99/month

Want more exclusives, sharp insights into what's happening at home and abroad? Subscribe to stay informed.

Unlock these benefits

  • All subscriber-only content on ST app and

  • Easy access any time via ST app on 1 mobile device

  • 2-week e-paper archive so you never miss out on any topic that matters to you

Join ST's Telegram channel and get the latest breaking news delivered to you.