Treasury & Capital Markets
On the Move
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Asean shifting payment and trade flows
13 July 2022
In association with
Asean is stepping up its vaccination rollout turning the corner to resume its role as an economic engine in the Asia-Pacific. As it exits this health emergency, it will be riding on the changes that Covid-19 accelerated. These changes strengthen its position once again as the world’s most dynamic reaping benefits from its demographic dividend and an expanding middle class.
While the pandemic has muted Asean’s attraction the past 18 months, it has not taken away the region’s immense potential. Governments have been busy providing relief for most of 2020 and the first half of 2021 through a variety of fiscal support. But 2022 looks set to swing into a fast-paced recovery helped along by investments in infrastructure and an improving business environment
The reconfiguration of the supply chain that is underway has benefitted Asean economies in a big way. Multinational companies, facing geopolitical challenges and higher China costs, have relocated part of their operations to the region with Vietnam, Malaysia, and Thailand, enjoying the most of the investment flow.
On the other hand, China’s large domestic market has become a magnet for Asean companies looking to sell into the country. In 2020, Asean overtook the European Community to become China’s largest trading partner. Asean’s electronic exports to China, for example, are an integral part of the global supply chain. Given Asean’s proximity to China, and in-built cost advantages, Asean is expected to grow its trade with China over time.
The pandemic has also accelerated the pace of digitization in the region. The severe lockdowns and prolonged social distancing have been a boon to fintechs and e-commerce as companies embrace new ways and adopt to the new business realities. Asean is home to more than 30 unicorns with the exponential growth in transaction volume. Governments also have been supportive rolling out instant payment infrastructure enabling the new digital rails to improve payment and collection efficiencies.
With supply chain shifts and digitization underway, Asean is also witnessing the growing trend to understand environmental, social, governance metrics as growing considerations in operating businesses. The region faces stark climate risks, and its dependence on carbon energy will be one of its biggest challenges, but also opening up new opportunities such as in new energy, electric vehicles, and emerging technologies.
The Asset Events, in association with MUFG, is pleased to be hosting a high-level discussion to explore Asean’s changing payment and trade flows.
13 July 2022
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03:00 PM SGT
Registration and coffee
03:30 PM SGT
How are the economies of Asean faring more than a year into this health emergency?
Are we starting to see Asean benefit from the reconfiguration of the supply chain?
How will ESG factors play a part in the development of new supply chains?
How are companies taking advantage of the rise of e-commerce as a business channel?
As regulators roll out instant payments infrastructure, what are the use- cases that benefits the treasury function?
How can the region strengthen regional integration in the post-Covid future?
general manager, credit risk
Mitsubishi Corporation RtM International
managing director, head of product for Asia & Oceania, transaction banking office for Asia,
managing director, head of sales for Asia & Oceania, transaction banking office for Asia
GM, finance & accounting
OMRON Asia Pacific
Kin Harn Lau
director general, accounting
Vishay Intertechnology Asia
Daniel Yu (moderator)
04:30 PM SGT
Networking and cocktails
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