FCPA Risk Overview: ASEAN-5

Early 2022 has seen several economies have gradually opening with the shift in their management of the COVID 19 pandemic. ASEAN 5 are on course for continued economic recovery with most reliable regional projections anticipating expanded GDP in 2022. With this ASEAN’s economic outlook remains positive, locking in Southeast Asia’s status as a key engine for global growth into the foreseeable future. This is on contrast to new risks emerging within the developed economies of Europe from the Ukraine-Russia conflict, aggressive sanctions on Russia inverting growth in the CIS, and closures across China with the reemergence of COVID-19 variants there. Within ASEAN, governance challenges like corruption persist. This means that along with a return to continued opportunity comes elevated business risks from bribery and corruption. To assist our clients, PSA has compiled a dataset of corruption indicators for the “ASEAN-5” countries to place business related risks in context.