Construction is set to boost ASEAN’s COVID-19 recovery, thanks to public sector commitment to infrastructure development to spur growth as mapped out in a newly released COVID-19 Response Report (CRR).
Produced by Oxford Business Group (OBG) in partnership with global planning, engineering and project management company Meinhardt Group, the CRR provides an in-depth analysis of the bloc’s pandemic response in an easy-to-navigate and accessible format, focusing on key data and infographics to illustrate the region’s socio-economic landscape.
ASEAN’s collective commitment to reducing infrastructure gaps – particularly transport, utility and ICT-related projects – is a key focus.
The publication examines the wide-ranging economic multiplier effects of these infrastructure developments and outlines the potential for railways and road projects to strengthen intraregional trade. It also highlights the bloc’s commitment to mobilizing alternative financing for these projects, with standout potential for public-private partnerships (PPPs) to boost global competitiveness.
Among the lasting changes for ASEAN’s construction industry, the report investigates the role of the coronavirus in accelerating the demand for affordable housing and green projects, and outlines the opportunities for developments compliant with environmental, social and governance (ESG) criteria to support sustainable expansion.
In addition, subscribers will find details of Meinhardt Group’s business strategy review. Amid the challenges of the pandemic, this enabled the group to safely maintain operations; accomplish a diverse raft of projects in key recovery sectors such as health care, transportation, logistics and ICT developments; and sign new deals.
The analysis includes an in-depth interview with Meinhardt Group CEO Omar Shahzad in which he evaluates the potential for ASEAN’s construction industry to spur a sustainable recovery and signposts key growth drivers over the coming years.
“There is great optimism that the industry is on the path to recovery,” he said. “ASEAN’s construction industry is projected to post growth of 7.5 percent for 2021, far outpacing the anticipated global growth rate of 3 percent. This V-shaped recovery will see the industry reach – and indeed surpass – pre-pandemic activity levels as soon as 2022.”
Jade Currie, OBG’s regional editor for Asia, said the bloc’s commitment to priority infrastructure activity, combined with evolving construction demands, should be a source of optimism for the region’s investors.
“A renewed public sector commitment to infrastructure development, coupled with the rising demand for clean, green and smart urban environments, signals a promising outlook for ASEAN’s construction sector,” she said. “This presents a diverse range of investment opportunities, particularly for PPPs and ESG-compliant developments, and will be key in driving a robust economic recovery across the region.”
This ASEAN CRR forms part of a series of tailored reports that the global research and advisory company is currently producing with its partners, alongside other highly relevant, go-to research tools, including a range of country-specific Growth and Recovery Outlook articles and interviews.
The CRR is now available to view and download at: https://oxfordbusinessgroup.com/blog/jade-currie/focus-reports/report-how-pandemic-reshaping-asean-construction-demands.