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 mean in 2020.
Some ASEAN members are forecast to rebound swiftly from 2021, and construction is poised to return to pre-pandemic levels as soon as 2022. Infrastructure development will remain a key priority: transport, utilities and digital infrastructure offer standout potential to boost regional trade, generate jobs and facilitate inclusive growth. This report investigates how the pandemic accelerated interest in affordable housing and sustainable, green projects – as well as reviving ASEAN’s commitment to infrastructure development – and details related opportunities for private investors.