By Nirukt Sapru – CEO, Vietnam and ASEAN South Asia Cluster Markets Standard Chartered Despite global economic uncertainties, the prospects for the ASEAN are bright with the region’s GDP expected to surpass $4 trillion by 2023 and potentially become the world’s fourth-largest economy by 2030. Key to the bloc’s future prosperity is greater connectivity – both physical and digital – to pave the way to better integration and increased trade among the bloc’s economies. The ASEAN’s continued success also relies on sustainable development. From green bonds to syndicated loans, innovative financial solutions are needed to promote sustainable business, employment, and further growth. One way for the ASEAN to improve trade and connectivity is by working towards fostering the free-trade area that provides equal access to goods and services to the bloc. The European Union – which is the world’s largest trading bloc and the top trading partner for 80 countries – shows how lower trade barriers, reducing paperwork, and harmonising standards can create benefits for its member countries. A good starting point could be to harmonise foreign direct investment rules across ASEAN nations. By working towards more synchronised frameworks and regulations around investments, the region becomes more attractive for both… Read full this story
- Productivity improvement to make ASEAN more competitive
- Innovation to power Chinese companies' dreams in ASEAN
- Defense minister attends ADMM Retreat
- International community supports Vietnam’s solutions to East Sea issue
- Shinzo Abe: is Japan's PM a dangerous militarist or modernising reformer?
- VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 21
- VIETNAM BUSINESS NEWS HEADLINES NOVEMBER 23
Actively powering the ASEAN’s sustainability have 268 words, post on www.vir.com.vn at February 24, 2020. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.