Southeast Asia will take up China’s mantle as a factory to the world over the next 10-15 years, as companies move to take advantage of cheap and abundant labour sources, according to ANZ Bank economists.
Southeast Asia will take up China’s mantle as a factory to the worldover the next 10-15 years, as companies move to take advantage of cheapand abundant labour sources, according to ANZ Bank economists.
The economists said that the transformation will be driven by thegrowth of ASEAN with the bloc becoming the “third pillar” of regionalgrowth after China and India.
By 2030, more than half of the650 million people in Southeast Asia will be under the age of 30, partof an emerging middle class with high rates of consumption, said ANZ.
Moreover, the establishment of the ASEAN Economic Community bythe end of 2015 will enable free movement of goods, services ,capital and labour between its member states.
ANZ estimatesthat the Southeast Asian nations could lift intra-regional trade to 1trillion USD by 2025. Foreign direct investment into ASEAN from themajor economies could climb to 106 billion USD in 2025.
ASEAN can participate in Asia’s expanding production network as it possesses advantageous land and maritime routes.
Founded in August 1967, ASEAN consists of Brunei, Cambodia, Indonesia,Malaysia, Myanmar, Laos, the Philippines, Singapore, Thailand, andVietnam.-VNA
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The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
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The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
