The Association of Southeast Asian Nations (ASEAN) is a coalition of ten diverse nations: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The region has posted strong growth since 2000, lifting millions out of poverty— but many gaps and disparities remain.
As Southeast Asia pushes to deepen its ties by completing the ASEAN Economic Community integration plan, the region is starting a new chapter in its economic development. But it will take the right set of catalysts to ignite more dynamic and inclusive growth. MGI’s analysis finds that global trade flows, urbanization, and disruptive technologies could provide the keys to unlocking the region’s full potential and creating wider prosperity.
Source : McKinsey Global Institute