Navigating the Economic Growth Potential of Southeast Asia

Last December, we visited our clients in Turkey, and part of our discussion was about the economic growth potential for countries in Southeast Asia. So here it is! We have summarised the key economic growth drivers as well as the GDP growth forecast for quick reference. 🇮🇩 INDONESIA: Golden Indonesia 2045 The Indonesian economy continues to show strong growth. Goldman Sachs projects the country to become the world’s fourth-largest economy in 2050. Key Growth Drivers Indonesia changes in fiscal, financial, and trade policies. Anticipated adjustments in fiscal, financial, and trade policies are set to bolster government revenues, primarily attributed to the impact of tax reform policies. New Capital City “Nusantara”. The total cost of investment is expected to be about USD 32 billion by its completion in 2045 to accommodate 500,000 civil servants. In 2024 the government allocated about USD 2.7 billion to construction. The investment will boost the regional economy by 4-5 times with job creation about 4.3-4.8 million jobs in East-Kalimantan by 2045. Indonesia continues to focus on sustainable economic development. The government has launched the Golden Indonesia 2045 vision to boost its competitiveness by focusing on developing protection schemes, green economy sector including renewable energy, downstreaming industries related to mining and non-mining sectors e.g., minerals, plantation products, and marine products. 🇹🇭 THAILAND: Navigating Recovery Thailand's economy…