ASEAN 2025: Toward Increased Investment in the Southeast Asia Region?
Abstract
One of the major targets of the ASEAN Economic Community is to achieve a higher influx of foreign direct investments (FDI) into the region. By analyzing recent economic developments and weighing opportunities and challenges, this paper argues that there are good chances for a higher level of FDI in ASEAN until 2025. There are, however, several hindrances including the resistance of the ASEAN member states to accept further economic integration and a missing common regulatory framework, which will make it difficult to receive significantly more FDI in the near future.
Full Text:
PDFReferences
Ambashi, Masahito (2017a), ASEAN as an FDI Attractor: How Do Multinationals Look at ASEAN?, ERIA Policy Brief 2016-04, January 2017
Ambashi, Masahito (2017b), Innovation Policy in/for ASEAN, in: Rebecca Sta. Maria, Shujiro Urata, and Ponciano S. Intal, Jr. (eds.): The ASEAN Economic Community Into 2025 and Beyond, Jakarta: Economic Research Institute for ASEAN and East Asia, pp. 213-232
ASEAN and UNCTAD (2018), ASEAN Investment Report 2018. Foreign Direct Investment and the Digital Economy in ASEAN, Jakarta: ASEAN Secretariat, November 2018, available at: https://asean.org/storage/2018/11/ASEAN-Investment-Report-2018-for-Website.pdf
ASEAN Secretariat (2015a), ASEAN Community Vision 2025, available at: https://www.asean.org/wp-content/uploads/images/2015/November/aec-page/ASEAN-Community-Vision-2025.pdf
ASEAN Secretariat (2015b), ASEAN Investment Report, available at: https://perma.cc/W7YR-KJTB
ASEAN Secretariat (2015c), ASEAN Economic Community Blueprint 2025, available at: https://www.asean.org/storage/2016/03/AECBP_2025r_FINAL.pdf
Asian Development Bank (2014), ASEAN 2030: Toward a Borderless Economic Community, Manila: ADB. https://www.adb.org/sites/default/files/publication/159312/adbi-asean-2030-borderless-economic-community.pdf
Azis, Ivan J. (2018), ASEAN Economic Integration. Quo Vadis?, Journal of Southeast Asian Economies, Vol. 35, No. 1, pp. 2-12
Bhaskaran, Manu (2013), The ASEAN Economic Community: The Investment Climate, in: S. Das, J. Menon, R. Severino, and O. Shresta (eds.), The ASEAN Economic Community: A Work in Progress. Manila: ADB and Singapore: Institute of Southeast Asian Studies, pp. 141-206
Cho, Sungjoon and Kurtz, Jürgen (2016), The Limits of Isomorphism: Global Investment Law and the ASEAN Investment Regime, Chicago Journal of International Law, Vol. 17, No. 2, pp. 341-369
Cook, Malcolm and Vandana Prakash Nair (2015), Diversity and Development: Foreign Direct Investment in Southeast Asia, Perspective No. 49, Singapore: Institute of Southeast Asian Studies, https://www.iseas.edu.sg/images/pdf/ISEAS_Perspective_2015_49.pdf
Drsysale, Peter (2017), ASEAN: The Experiment in Open Regionalism that Succeeded, in: Rebecca Sta. Maria, Shujiro Urata, and Ponciano S. Intal, Jr. (eds.): The ASEAN Economic Community Into 2025 and Beyond, Jakarta: Economic Research Institute for ASEAN and East Asia, pp. 64-86
Hadi, Abdul Razak Abdul; Sehrish Zafar; Tahir Iqbal: Zohaib Zafar and Hafezali Iqbal Hussain (2018), Analyzing sectorial level determinants of inward foreign direct investment in ASEAN, in: Polish Journal of Management Studies, Vol. 17, No. 2, pp. 7-17
Jeong, Hyung-Gon; Lee, Boram and Pek, Jong Hun (2018), Factors Influencing ASEAN FDI and the Policy Implications, World Economy Brief, Vol. 8, No. 21, Korea Institute for International Economic Policy, available at: https://think-asia.org/handle/11540/8687
Kawai, Masahiro and Kanda Naknoi (2015), ASEAN Economic Integration through Trade and Foreign Direct Investment: Long-Term Challenges, ADBI Working Paper 545. Tokyo: Asian Development Bank Institute, available at: http://www.adb.org/publications/asean-economic-integration-through-trade-and-foreign-direct-investment-long-term/
Menon, Jayant and Anna Cassandra Melendez (2015), Realizing an ASEAN Economic Community: Progress and Remaining Challenges, ADB Economics Working Paper Series, No. 432, Asian Development Bank (ADB), Manila, available at: http://hdl.handle.net/11540/4381
Moudatsou, Argiro and Dimitrios Kyrkilis (2011), FDI and Economic Growth: Causality for the EU and ASEAN, Journal of Economic Integration, Vol. 26, No. 3, September 2011, pp. 554-577
Pangestu, Mari and Lili Yan Ing (2017), ASEAN: Regional Integration and Reforms, ERIA Policy Brief, 2017-05, November 2017
Silalahi, Udin (2017), The Harmonization of Competition Laws towards the ASEAN Economic Integration, Journal of East Asia and International Law, Vol. 10, No. 1, pp. 117-137
Soo Khoon Goh; Koi Nyen Wong and Chee Lam Yew (2018), Are Merchandise Exports and FDI Inflows an Engine of Growth for ASEAN-10 Countries? New Evidence Using the Pooled Mean Group Estimation Method, Margin—The Journal of Applied Economic Research, Vol. 12, No. 4 (2018), pp. 414–430
Sta. Maria, Rebecca; Urata, Shujiro and Intal Jr., Ponciano S (2017): The ASEAN Economic Community Into 2025 and Beyond, in: Rebecca Sta. Maria, Shujiro Urata, and Ponciano S. Intal, Jr. (eds.): The ASEAN Economic Community Into 2025 and Beyond, Jakarta: Economic Research Institute for ASEAN and East Asia, pp. 1-63
Tay, Simon S.C.; Cheryl Tan and Shangari Kiruppalini (2017), Global Megatrends and the ASEAN Economic Community: Regional Integration in Context, in: Simon S.C. Tay and Julia Puspadewi Tijaja (eds.), Global Megatrends. Implications for the ASEAN Economic Community, Jakarta: ASEAN Secretariat, pp. 13-36
Thomsen, Stephen (1999), Southeast Asia: The Role of Foreign Direct Investment Policies in Development, OECD Working Papers on International Investment 1990/01, Paris: OECD Publishing. http://dx.doi.org/10.1787/431857742281
UNCTAD (2019), World Investment Report 2019, New York: United Nations Publications
Valencia, Czeriza (2019), Pro-foreign investment laws can triple FDI inflows – Pernia, Philippine Star, 2 July 2019, https://www.philstar.com/business/2019/07/02/1931135/pro-foreign-investment-laws-can-triple-fdi-inflows-pernia
Vogiatzoglou, Klimis and Phuong Nhung Thi Nguyen (2016), Economic Openness and Economic Growth: A Cointegration Analysis for Asean-5 Countries, European Journal of Applied Economics, Vol. 13, No. 2, pp. 10-20
Welsh, Bridget (2018), Rethinking EU-ASEAN Economic Engagement, IAI Commentaries 18, available at: https://www.iai.it/sites/default/files/iaicom1824.pdf
World Bank Development Indicators (2019): Income per capita in SEA in current US Dollar, Atlas method, https://data.worldbank.org/indicator/NY.GNP.PCAP.CD
Ziegenhain, Patrick (2019), The Politics and Policies of Population Change in Indonesia and Malaysia, in: AEI Insights: An International Journal of Asia-Europe Relations, Vol 5, No. 1, pp. 57-72
DOI: http://dx.doi.org/10.33021/aegis.v4i1.791
Refbacks
- There are currently no refbacks.
Copyright (c) 2020 AEGIS : Journal of International Relations
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This work is licensed under a Creative Commons Attribution 4.0 International License.