He told the Asean Conference 2024 that the world has become a more difficult place for investors amid US-China trade disputes, wars in Ukraine and the Middle East, tensions in the Taiwan Strait and rising protectionism.
"Amid all of this, Asean is a bright spot. It is increasingly becoming even more important going forward." Asean countries have the opportunity to show the world how to manage these challenges by collaborating with one another, added DPM Gan, who is also Trade and Industry Minister.
The nominal gross domestic product of the 10 Asean nations is estimated at around US$3.6 trillion (S$4.7 trillion).
This is expected to hit US$4.5 trillion by 2030, thanks to surging domestic consumption, exportdriven manufacturing and a young workforce, making it the world's fourth-largest economy.
Achieving that milestone means Asean needs to further strengthen its own economic integration, promote sustainability and digitalisation, and broaden trade and investment relations with non-Asean partners, said DPM Gan.
Denne historien er fra August 30, 2024-utgaven av The Straits Times.
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Denne historien er fra August 30, 2024-utgaven av The Straits Times.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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SCCCI marks 60th anniversary of its iconic building with exhibition, $1.2m donation
At 14, he constructed a three-dimensional model of the Singapore Chinese Chamber of Commerce and Industry (SCCCI) building without floor plans or architectural drawings.
Residents of Sunset Way estate, Clementi condo get new 1.2km road
For as long as he has lived in Clementi Street 12, Sunset Way has been Mr Chan Jun Xiong's only road home.
Community lawn, movable platforms| proposed at former railway station
URA studying suggestions that are part of winning proposal in competition
Disputed elections becoming a global phenomenon, report finds
Voter turnout is diminishing around the world and the results of elections are increasingly being questioned, a report on the state of democracy said on Sept 17.
UN chief condemns 'collective punishment' of Palestinians
He describes the suffering in Gaza as unimaginable but is hopeful of a ceasefire
Climate change set to worsen malnutrition crisis among children
Malnutrition is the world's worst child health crisis and climate change will only make things more severe, according to philanthropist Bill Gates.
More in S-E Asia focused on livelihoods over climate
Geopolitics driving region's concerns with food security, inflation: Researcher
Thai Cabinet approves $5.66b cash handout to help revive economy
Thailand's Cabinet approved a cash handout plan totalling 145.6 billion baht (S$5.66 billion) that will benefit millions of poor people and help stimulate South-east Asia's second-largest economy.
Singaporeans stay indoors to avoid worst of typhoon
They saw fallen trees, experienced power outages and had to cancel plans, but Singaporeans in Shanghai managed to keep themselves safe by staying indoors as Typhoon Bebinca raged outside.
Shanghai cleans up after strongest storm in decades
Emergency crew has to clear some 1,800 felled trees, restore power to 30,000 homes
