Authors: Mega Valentina, Angelica Ortega, Logan Carnicelli Johor-Singapore Special Economic Zone (JS-SEZ) Agreement Establishes Key Investment Gateway for Southeast Asia On January 7, the governments of Malaysia and Singapore announced the signing of a bilateral agreement to establish a special economic zone (SEZ) in the southern Malaysian state of Johor. Plans on the Johor-Singapore SEZ were first unveiled in 2023 at the 10th Singapore-Malaysia Leaders’ Retreat and are expected to begin roll out in 2025. Through the JS-SEZ, Malaysia and Singapore will promote and…
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PBEC Opinion Piece South Korea 2025Executive Summary This PBEC opinion piece on South Korea’s economic forecast for 2025 highlights the challenges posed by political instability, which may dampen growth prospects unless stability is restored. Key sectors such as manufacturing, infrastructure, technology, and renewable energy present significant opportunities for Korean businesses, particularly in international markets like China, the Philippines, Indonesia, Vietnam and Thailand. The investment climate is influenced by the need for reform and stability to attract both domestic and foreign…
Abstract: The State of Southeast Asia 2024 Survey conducted by the ASEAN Studies Centre at ISEAS – Yusof Ishak Institute reveals that Southeast Asia’s top preoccupations are with unemployment, climate change, and intensifying economic tensions between major powers. The Israel-Hamas conflict is the region’s top geopolitical concern, while China has edged past the US to become the prevailing choice if the region were forced to align itself in the ongoing US-China rivalry. Click here to download the PDF file of…
From China’s slowing growth to Malaysia and Singapore’s electronics-driven resilience – a new ICAEW report analyses how South-East Asia’s economies are shaping up for 2025. While China grapples with structural challenges, Malaysia and Singapore look set to benefit from global electronics demand, but face pressures from inflation, fiscal tightening and cautious consumer behaviour. That’s the conclusion of the ICAEW Economic Insight Report Q4 2024, which paints a mixed picture for the region. Prepared by Oxford Economics and supported by PBEC,…
A useful reminder for business leaders of the possible directions Data Governance & efforts to bolster cyber security in APAC could be taken by national Govts and regional blocs in 2025. In particular what the conclusion of the ASEAN Digital Economy Framework Agreement (DEFA) talks might look like. More engagement with multiple industry leaders linked to above areas like use of AI, Web3, crypto in healthcare, education, critical infrastructure and providing policy recommendations and feedback to Govt’s will continue to…
Release Date: 31 Dec 2024. By Michael Walsh, Executive Director As 2024 draws to a close, I have spent time during the holidays researching the latest public posts, trend analyses, and utilizing AI tools to assess the global economy emerging markets and the performance of their ETF’s (Exchange Traded Funds). The data indicates that several regions are positioning themselves as future economic powerhouses. These insights examine the potential of India, Southeast Asia, Mexico, the Middle East, and Africa, highlighting potential…
In brief The Philippine economy is expected to improve, reinforcing its status as one of the fastest growing economies in Southeast Asia. The Philippines remains an attractive country in which to do business due to relatively low labor costs and largely bilingual workforce. According to the Philippine Statistics Authority, the Philippine employment rate in November 2023 increased to 96.4%, from 95.8% in November 2022, and in October 2023. The country’s unemployment rate fell to its lowest level of 4.2% in…
Latin America and the Caribbean (LAC) and China continued to deepen their economic relations in 2023 and YTD in 2024, with a record number of presidential visits and continued strength in Chinese investment and infrastructure in LAC. These are among the findings of the 2024 edition of the China-Latin America and the Caribbean Economic Bulletin, published by the Boston University Global Development Policy Center (GDP Center) and providing a synthesis of the latest trends in the China-LAC economic relationship. https://www.bu.edu/gdp/2024/07/30/china-latin-america-and-the-caribbean-deepen-ties-as-chinese-firms-shift-to-direct-investment-and-infrastructure/…
It was a fascinating moment back in 2013 to consider the linked fortunes of Latin America and of Asia. The leaders of the world’s two most power- ful nations, the United States and China, each visited Latin America and the Caribbean within days of each other. Chinese President Xi Jinping’s visit to Mexico, Costa Rica, and Trinidad and Tobago showed the strategic importance of the region to the resource-hungry Asian giant, which was eager to build strong trade, investment and…
This article is written by: Ousmene Mandeng. The IMF is the only formal arrangement for multilateral economic policy cooperation, but representation at the IMF, expressed through so-called quota shares, is no longer aligned with economic realities. This reduces countries’ incentives to engage constructively with the existing system. Any debate about change ought to see China’s quota share increase significantly. A necessary condition thereof is a reduction in the shares of the European Union countries. International trade is stagnating and there…