CIC - Construction Intelligence Center

High Growth Potential in ASEAN

  • Published:Monday, August 21, 2017


From 2017 to 2021, construction output in ASEAN will grow by an average 7.5% a year, compared to just 3% in the world as a whole.

 

The Association of Southeast Asian Nations (ASEAN) is a major hotspot for economic growth, with GDP increasing almost 5% annually over the last five years. The construction sector has been no different, particularly in Vietnam, Indonesia and the Philippines, where construction output has been growing between 6 and 9% each year. However, the region has now reached a cross roads, as it faces a major funding gap in its construction requirements and will need to think globally on how to address it. While significant hurdles remain, initial signs are positive in encouraging investment from the private sector, both from within the region, and further abroad.

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