ASEAN Investment Report 2017
The ASEAN Secretariat and the United Nations Conference on Trade and Development (UNCTAD) released the “ASEAN Investment Report 2017: Foreign Direct Investment and Economic Zones in ASEAN” at the 31st ASEAN Summit in Manila this month. The report states that even with the drop in global foreign direct investment (FDI) into developing economies, FDI flows into ASEAN in 2016 remained high. However, inflows into ASEAN did decline to US$97 billion in 2016 due to divestment,. This was due to ASEAN companies acquiring foreign assets in their home countries, and repayment of intracompany loans. Intra-ASEAN investment made up 25% of the total FDI inflows, an all-time high.
ASEAN Fintech Network
The ASEAN Fintech Network (AFN) launched this month and will be a platform to promote cross-border collaboration amongst members and help boost the region’s position as a Fintech hub. The AFN’s founding members are non-profit Fintech industry organizations from Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Fintech is an innovativeon and new technology, and is used to deliver financial services as an alternative to traditional financial methods. ASEAN has great potential for Fintech companies as it has a rapidly growing online population together with low banking penetration.