Q4 Asia Forecast Update – Singapore
The global challenge in 2020 is adjusting strategy to cooler growth. In our final 2019 forecasting session, Richard Martin will provide a comprehensive review of Asia’s outlook and then focus on the opportunities to sustain strong growth by tapping into the market transformation trends across the region. Some of these trends are moving faster than in the West, partly as legacy systems are weaker. Digital strategies and the rise of ecommerce, changing consumer tastes and preferences, new trade deals (and wars), investment incentives, and a lift in government stimulus policies can all create opportunities for stronger growth.
Joining us as guest speaker for the Asia CEO Forum breakfast & Asia Management Forum lunch sessions is Ha Viet Nguyen, from BowergroupAsia on – Vietnam: can its rise continue? From a low base, Vietnam has matched the Philippines as a stand-out ASEAN growth story over the last decade. In Vietnam’s case, it has been driven by the take-off in export manufacturing following WTO entry in 2006 and the start of factory relocation from China as wages and the yuan rose there. As a result, Vietnam has supplanted Thailand as ASEAN’s biggest exporter of manufactured goods, and its consumer market has surged as real growth in factory wages has jumped. Yet today, Vietnam has hit a wall with chronic shortages of skilled labour, a looming electricity supply crisis, and a threat by the US that it may soon curb imports from Vietnam. All emerging markets hit such challenges, the question is whether they have good enough leadership to overcome the barriers. If they don’t, the growth disappoints and risks mount. In this session, we’ll examine the challenges and assess whether Vietnam will overcome them or stumble. Ha Viet will also evaluate the communist system of government, the bureaucracy, and the individual leaders and their goals.
Joining us as guest speakers for the CFO Forum breakfast session are Irene Cheung, Senior Research Strategist at ANZ and Zennon Kapron, Founder and Director of KapronAsia. They will be leading us into the Forex Outlook and The Rise of the Virtual Bank, respectively.