Southeast Asia: Economic Recovery After Recent Crisis

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Two decades after the Asian financial crisis in the ASEAN countries there has been significant economic growth.

In order for ASEAN to continue to prosper in 2019 and beyond, they should move more actively towards regional integration, said HSBC Singapore’s Chief Executive Tony Cripps.

Overall, Mr. Cripps noted that the fortunes of Southeast Asia have grown significantly after the Asian financial crisis. Glittering malls and airports have been built in Hanoi, Jakarta, and Manila, and Kuala Lumpur has expanded and improved huge manufacturing sites.

At the moment, the region’s economy has reached its peak.

Meanwhile, the leaders of Southeast Asia should intensify reform efforts aimed at increasing the openness and integration of the Association of Southeast Asian Nations (ASEAN). This is important both to protect the economy and business in ASEAN and to allow member countries to seize opportunities in the future.