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On July 20, the Asian Development Bank (ADB) lowered its economic growth forecast for the entire Southeast Asian region.

Specifically, the situation in various countries is also divided. The only increase in Southeast Asia is Singapore, from 6% to 6.3%.

As of the end of May 2021, the ASEAN region has used nearly 16% of its GDP for its fiscal stimulus measures. But the epidemic may leave a huge impact, not only in Southeast Asia, but also in the world.

 01  span>

Even so, more and more Southeast Asian countries are beginning to unblock them, focusing on the road to rapid economic recovery.

With the previous rounds of stimulus measures tightening the national finances, coupled with the weakening of the firepower of monetary policy, the blockade has become increasingly difficult to last.

In office buildings in Vietnam and Malaysia or Singapore, the government is pushing ahead with reopening plans to seek a balance between containing the virus and recovering the economy.

Following Malaysia’s official announcement of a number of "relaxation" policies, Indonesia also stated that it expects to open its borders in November.

Malaysian Minister of Defense

Thailand is preparing to adjust its anti-epidemic strategy to coexist with the coronavirus. At the same time, it plans to relax epidemic prevention measures and reopen the country before the end of the year.

In addition, launched a 10-year long-term investment visa, hoping to attract more than 1 million long-term residents to Thailand within five years.

 02  span>

When there is danger, it is organic.

Amidst the fog of Southeast Asia’s economic prospects, there are also some gratifying lights.

A highlight of Southeast Asian economies is the recovery in external demand for exports of manufactured goods, especially medical supplies and essential goods for remote work, such as smartphones, computers, and home entertainment equipment.

The demand for semiconductors and other components is strong. The prices of Southeast Asian commodities such as copper and palm oil have also been firm. Indonesia has particularly benefited.

Indonesia·Indonesia

The growth in exports of motors and commodities in Southeast Asia has been very gratifying since 2019.

Especially Vietnam’s trade continues to flourish in 2021:

Driven by the demand for consumer goods such as smartphones and computers, exports in the first quarter increased by 22% year-on-year to US$77.3 billion.

The Australian Financial Review believes that after the epidemic, Vietnam will recover rapidly and continue to be attractive to foreign investors. The destination of the force.

Vietnam·Vietnam

As of mid-August, a total of 17.9 million doses of vaccine have arrived in Vietnam. These include more than 11 million doses of AstraZeneca donated by Japan, Australia and the United Kingdom and purchased by the government, 5 million doses of Modena donated by the United States, and 1.5 million doses of Sinopharm provided by China.

From this point of view, Vietnam’s recovery prospects seem more optimistic.

Malaysia·Malaysia

In addition, Malaysia’s manufacturing output increased by nearly 7% in the first quarter, and demand for electronic machinery, semiconductors, and components was also strong.

Moreover, once the recently signed Regional Comprehensive Economic Partnership (RCEP) takes effect, it will once again promote intra-Asian trade.

Increasing consumption activities in various industries will generate more investment, which will attract more talents and drive continued growth in the next decade. The digital economy in Southeast Asia will occupy a place on the global stage. This will be the most unexpected impact of the epidemic.

For now, Southeast Asian countries have successively unblocked, Britain and the United States have eased entry restrictions, Australia, Canada and Europe have accelerated their economic recovery.

Everything is moving in a positive direction. Will China be far from being unblocked?

In the post-epidemic era, overseas identity planning & asset allocation becomes more and more important, which can add to your high-net-worth life and add more possibility. Welcome to Xingyunhai International!

Source: Warnings as Southeast Asia's biggest economies ease COVID-19 curbs, Pandemic Is Disrupting 2021 Growth Outlooks In Southeast Asia, ASIAN DEVELOPMENT OUTLOOK, general news; some pictures From the Internet, the copyright is owned by the original author

Editor: KIKI

Xingyunhai International

SING YUN

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