Asean, including Myanmar, will work together to restore economic growth in the region by enhancing regional trade and economic cooperation.
Economic growth in the ASEAN region could rebound to an average 8 percent in 2021 after falling into recession in the first half of 2020, a report suggested on June 8.
The Indonesian government plans to build an industrial park serving Japanese and US plants relocated from China amid the US – China trade tension.
Economic ministers from the ten ASEAN Member States and the Plus Three Partners (China, Japan, and Republic of Korea) have affirmed the need to keep the markets open for trade and investment amid the COVID-19 pandemic.
The rise of Vietnam has been highlighted in a recent survey of the Australian Chamber of Commerce (AustCham), as Vietnam is now considered the most favourable place to expand business, surpassing the Philippines and Myanmar in recent years as well as Australia’s long-term business partners namely Malaysia and Singapore.
Foreign investors are starting to put their money back into Indonesian assets as countries around the world begin to ease their COVID-19 restrictions, spurring hopes of a global economic recovery.
The Malaysian government will introduce several incentives to stimulate the property market and the automobile sector.
Malaysia’s fiscal deficit will nearly double to around 6 percent of the gross domestic product (GDP) this year because of the government’s recent efforts to revive the economy, according to Finance Minister Zafrul Abdul Aziz.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
