With global economy getting ravaged from the coronavirus pandemic and trying to recover from the setbacks, Southeast Asia where the virus initially started spreading, is nowhere behind in trying to get back on the feet. With many initiatives and stimulus programs from the governments to breathe life into the economy, each nation is trying to reconfigure its economic performance.
With economic fallout as bad or greater than 1997-98 Asian Financial Crisis, the business sector of Southeast Asian countries is now going through reforms, as a recovery from Covid-19 while promoting health and safety.
Many regional businesses in sectors like manufacturing, logistics, food and agriculture, energy, etc. are trying to ensure workflow health and safety as they resume their services. Further, focus on front-line workers and medical personnel is getting strong by providing them adequate proactive equipment.
For many Southeast countries, the national interest in certain industries is blossoming along with growth in corporate sustainability, production facilities, digital businesses, and strategic manufacturing operations. Countries like Vietnam are expecting a growth in their GDP with aid from the government. China is getting ahead in the public relations sector and many of its companies like Alibaba and TikTok are launching optimal assistance efforts throughout Southeast Asia.
ASEAN countries like Singapore, Indonesia, and Vietnam are going for a shift in their economic activities by investing on cloud and digital applications. As a result of this, eCommerce sites getting more popular too.
Forsooth, coronavirus has tested the resilience of Southeast Asian countries to respond to a global economic shock, and as each nation is trying to brace itself and balance short-term crisis management along with long-term investments, the nations have revealed their potential in desperate times like these.