Full recovery for Vietnam, Indonesia and Malaysia in 2021

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Full recovery for Vietnam, Indonesia and Malaysia in 2021

The projected recovery patterns of the six countries were based on the International Monetary Fund’s country-based projections for real gross domestic product, with 2019 figures as a baseline of 100, compiled by Nikkei Asia. 

Vietnam, Indonesia and Malaysia all scored above the 100 mark, meaning their economies are projected to see expansion in 2021 compared with levels before the pandemic outbreak in 2019. 

Vietnam scored the highest with a projected growth index of 108.4. The Vietnamese economy is expected to expand 10.9% in real terms in 2021, more than any other country in the Asia-Pacific, following a 2.91% uptick this year, according to S&P Global. 

Vietnam was also the only one of the six to log real economic growth in 2020, thanks to its quick success in curbing the coronavirus pandemic. Its leadership also bolstered effective demand through public projects ahead of the Communist Party Congress that begins there in January. 

Indonesia came in second with a growth index of 104.5. The so-called omnibus law on job creation signed by President Joko Widodo last November is expected to give companies greater freedom and help attract foreign investment when it takes effect.  

Malaysia, with an index of 101.3, could also see exports of mainstay products like electronics recover once the global economy stabilises. 

On the other hand, Singapore, the Philippines and Thailand are not expected to cross the 100 mark until 2022. 

Thailand’s tourism sector, which accounts for about 20% of GDP, is seen struggling next year as well, with no clear end in sight for entry restrictions on foreign travelers. Auto exports, a key driver for growth, are also unlikely to recover to 2019 levels. 

The Philippines’ outlook on consumer spending is murky, given a slowdown in sales of cars and other durable goods.  


Singapore’s tourism sector will likely also see a slow recovery. 

Despite differences in their individual forecasts, all six countries would be affected by global developments pertaining to the coronavirus and US policies under President-elect Joe Biden after he takes office on January 20th. 

Akhyari Hananto

I began my career in the banking industry in 1997, and stayed approx 6 years in it. This industry boost his knowledge about the economic condition in Indonesia, both macro and micro, and how to More understand it. My banking career continued in Yogyakarta when I joined in a program funded by the Asian Development Bank (ADB),as the coordinator for a program aimed to help improve the quality of learning and teaching process in private universities in Yogyakarta. When the earthquake stroke Yogyakarta, I chose to join an international NGO working in the area of ?disaster response and management, which allows me to help rebuild the city, as well as other disaster-stricken area in Indonesia. I went on to become the coordinator for emergency response in the Asia Pacific region. Then I was assigned for 1 year in Cambodia, as a country coordinator mostly to deliver developmental programs (water and sanitation, education, livelihood). In 2009, he continued his career as a protocol and HR officer at the U.S. Consulate General in Surabaya, and two years later I joined the Political and Economic Section until now, where i have to deal with extensive range of people and government officials, as well as private and government institution troughout eastern Indonesia. I am the founder and Editor-in-Chief in Good News From Indonesia (GNFI), a growing and influential social media movement, and was selected as one of The Most Influential Netizen 2011 by The Marketeers magazine. I also wrote a book on "Fundamentals of Disaster Management in 2007"?, "Good News From Indonesia : Beragam Prestasi Anak Bangsa di dunia"? which was luanched in August 2013, and "Indonesia Bersyukur"? which is launched in Sept 2013. In 2014, 3 books were released in which i was one of the writer; "Indonesia Pelangi Dunia"?, "Indonesia The Untold Stories"? and "Growing! Meretas Jalan Kejayaan" I give lectures to students in lectures nationwide, sharing on full range of issues, from economy, to diplomacy Less
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