The ASEAN (The Association of Southeast Asian Nations) economy is set for a promising trajectory, with the IMF (International Monetary Fund) projecting a GDP (Gross Domestic Product) of $5.8 trillion in 2023 and an expected average GDP growth rate of 5.4% in 2024. This economic strength, coupled with a massive population of over 680 million, positions ASEAN as an alluring hub for business investment opportunities, technological advancements and a formidable economic force.
These statistics highlight the urgent need for cohesive efforts to rebuild and uplift affected communities in the region.
With robust technology advancements, digitisation, sustainable practices and accelerated automation, ASEAN has the potential to become the innovation destination for all.
Hitachi’s Social Innovation fosters an ecosystem where ASEAN dreams thrive, and new possibilities emerge. Here are a few key areas and examples:
To take on the challenges of uneven accessibility, strained infrastructure in urban centers, rising non-communicable diseases, and an aging population, the ASEAN healthcare sector is undergoing a profound transformation with the integration of digital technologies.
The Southeast Asia telehealth market was valued at USD 293.9 in 2021 and is predicted to grow at a 17.6% compound annual growth rate (CAGR) from 2021 to 2028.
With Internet of Things (IoT), Robotics, Automation, Big Data and Artificial Intelligence (AI), Hitachi helps manufacturers accelerate new product development, minimise human errors, enhance production efficiency, and optimise their global production chains. This leads to economic growth, job creation, and an environment ripe for innovation.
This not only strengthens the manufacturing sector in ASEAN but also positions the region as a hub for advanced and sustainable production practices.
Developing countries need $1.7 trillion in renewable energy investments each year.
In 2022, only $544 billion was invested in clean energy, says World Investment Report 2023 by United Nations Conference on Trade and Development (UNCTAD).
Through sustainable development initiatives and groundbreaking technologies, Hitachi tackles challenges like environmental pollution, increasing energy demand, and inadequate waste management, supporting the transition to a low-carbon future.
The year 2023 presents challenges and opportunities for ASEAN as it navigates global uncertainties. However, the region can leverage technology, sustainability, and innovation to emerge as a beacon of progress. Hitachi envisions and nurtures a future where technological advancements, sustainable practices, and innovation thrive in harmony.
Date of Release:December 2023
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