Asia Economy

In spite of the economic uncertainty that characterised much of 2011, Indonesia’s strong growth has solidified its reputation as one of the world’s most important emerging economies.

News regarding Thailand was dominated during 2011 by political change and environmental catastrophe, with both having important economic impacts. For most of the year however, the country’s investment story was one of growing foreign interest on the back of steady economic growth.

Glowing assessments of Papua New Guinea's economic outlook see natural resource wealth leading growth for this year, with positive implications for the country's broader development. However, external factors threaten to post challenges to a major liquefied natural gas (LNG) project.

Sarawak’s economy thrived in 2011, with record inflows of investment and a revving of the state’s growth engines sparked by projects such as the Bakun Dam and the Sarawak Corridor of Renewable Energy (SCORE).

A $1.66bn stimulus plan announced earlier this autumn is expected to stimulate domestic demand in the Philippines as effects from the ongoing global economic turbulence continue to impact the country’s economy. The programme is designed to make up for government underspending that many claim has led to lower-than-expected growth in the first half of 2011, but ensuring that the money is spent in a timely and efficient manner may be a challenge.

It has been an eventful year for Sabah, characterised by growing streams of investment flowing into the state, enhanced economic cooperation, improved trade relations and several significant offshore oil discoveries, including one announced in November by the national oil corporation, Petronas.