Construction – and infrastructure development in particular – is expected to be a key driver of economic growth across ASEAN from 2021. The bloc, home to some of the world’s fastest-growing economies and lowest unemployment rates, faced the novel coronavirus after years of health care infrastructure improvements, with much of the group reporting Covid-19 case-fatality rates below the global…
– Environmental, social and governance (ESG) criteria are growing in significance globally – ASEAN member states are increasingly oriented to ESG standards across the board – Green infrastructure, social impact and transparency are among the keyfocus areas – Coordinated efforts to boost ESG could spearhead the bloc’s Covid-19 recovery Environmental, social and governance (ESG)…
On encouraging UK businesses to explore opportunities within ASEAN What are the implications of Covid-19 for ASEAN and the work of the UKABC? NEVILLE-ROLFE: In the short term the impact on the UK and ASEAN will be damaging, but this is a worldwide challenge. Most South-east Asian countries have large populations, stretched health services and economies that are dependent on trade and the movement…
On reaching sustainable development goals To what extent are sustainability goals tied to the success of a business? ROBERT OPP: Sustainability does not necessarily contrast with long-term profit; however, the UN’s Sustainable Development Goals (SDGs) have provided a global framework to address this significant challenge. The SDGs are different from anything I have seen in the past. There…
On how conventional banks are integrating digital solutions How would you assess the potential of digital banking to boost financial inclusion in developing economies? MICHEAL GORRIZ: In Africa, where Standard Chartered opened eight digital banks in 2018-19, the cost to serve is a crucial determining factor when offering banking services. A large part of the continent is underbanked primarily…
On channelling innovation to boost sustainability and profits How is sustainability being perceived by business executives in relation to long-term corporate performance? EDWIN CHOW: Large corporations in Singapore are beginning to realise the fact that having sustainability embedded into their work processes is actually good for them as a company. There was no single light-bulb moment, but rather…
On utilising technology to link smaller players to the supply chain How can artificial intelligence (AI) and data-driven solutions support the growth of the burgeoning micro-, small and medium-sized enterprise (MSME) segment in Asia? RACHEL BARGER: Small and medium-sized enterprises (SMEs) serve their local markets, but many aspire to do business on a larger scale. However, their growth…
On smart cities, start-up funding and intellectual property How do you assess the framework in place to facilitate the continuation of the ASEAN Smart Cities Network (ASCN) during 2019? CHAN CHUNSIN: The ASCN was one of Singapore’s key deliverables for our ASEAN Chairmanship in 2018. It is a collaborative platform that enables cities from ASEAN member states to work towards the common goal…
On how the city-state is positioning itself as a door to South-east Asia and a hub for cross-border collaboration What advantages does Singapore offer tech companies seeking a springboard into ASEAN? PETER ONG: Innovation in South-east Asia is at an inflection point. The average age of the region’s 640m-strong population is 30, and a growing level of consumption power characterises…
On the advantages of listing in Singapore As regional exchanges become more mature, which factors make SGX a standout proposition for Asian companies seeking to list? LOHBOON CHYE: First, Singapore is an international business hub; it is well connected, is a signatory to many free trade agreements and boasts an integrated infrastructure for businesses. Singapore also offers a broad…