The manufacturing sector has been one of ASEAN’s key economic growth drivers. Already, the region is a global manufacturing hub and is estimated to grow at a compound annual growth rate (CAGR) of 6.6 percent between 2016 to 2020.
The Intergovernmental Panel on Climate Change (IPCC) projected that global warming is likely to reach 1.5 degrees Celsius above pre-industrial levels by 2030.
To consolidate its growing economy, Vietnam is looking to launch Special Economic Zones (SEZs) to boost growth and to attract foreign investments to the country. The three SEZs are slated for development in Van Don, North Van Phong and Phu Quoc.
China owes its economic-growth miracle largely to local governments. But, as the country attempts to build a more modern and sustainable economy, in a context of lower overall growth, local governments need to adapt.
Brunei's seemingly vulnerable economic position is seen by China as an opportunity. The Asian superpower looks to engage with Brunei and this rejuvenated relationship could be beneficial to both parties in the long-term.
Singapore’s economy expanded by 3.5% in 2017, according to estimates released by the Ministry of Trade and Industry earlier this month.