Taiwan is now a high-income economy with a 2022 GDP of $828.66 billion and ranks 21st among all the 192 nations covered by the IMF, which makes it a regional leader – its GDP is expected to cross the $1 trillion mark by 2027.
Renewable energy is still a growth sector in Southeast Asia, but a steady drip of reports about idle off-grid installations, oversupply and regulatory bottlenecks has thrown the rush to roll out cleantech into question.
As multinationals look to diversify their supply chains and manufacturing facilities out of China, foreign investment in ASEAN is expected to accelerate. The industrial real estate sector should see strong growth across the region, particularly in Vietnam, where the supply of ready-built factories and warehouses is expected to increase by over 25 percent this year.
Access Asia Group is pleased to announce the launch of Access Mining – among the only corporate intelligence practices devoted to the mining sector.
Vietnam has managed to contain COVID-19, lifting social isolation measures and reopening the economy, allowing businesses to resume.
After years of strong growth, the renewable energy sector is set to take a breather – and likely into next year. Immediate demand for energy has collapsed, oil prices have fallen in tandem and capital markets are in turmoil and therefore unlikely to support capital intensive projects.
As world-wide business activity comes to a standstill and Covid-19 dominates global headlines, it is easy to overlook other developments and business deals that are still ongoing.
Indonesia confirmed its first Covid-19 case on March 2 and now has the highest fatality toll from the disease in Southeast Asia – and second only to China in Asia – meaning the country now faces its biggest political and economic challenge since the 1997 Asian Financial Crisis.
Myanmar is one of the least prepared countries in Southeast to handle the Covid-19 pandemic and country-wide spread will almost certainly be exacerbated by the recent return of thousands of migrant workers from Thailand. Longer term, the country still has much in its favor.
It is too soon to say whether Vietnam – or indeed anywhere – has dodged the covid-19 bullet. But, in terms of infection caseloads, the nation of some 90 million is containing numbers better than anywhere in the region on a per-capita basis.