With the world facing one of the biggest global crisis due to the sudden and rapid spread of the novel coronavirus (“COVID-19”), many governments have imposed measures necessary to curtail the spread of the pandemic. COVID-19 measures such as lockdowns, social distancing, international travel bans and freight transport restrictions were imposed across ASEAN countries based on the contagion rates and healthcare capacity. While such measures were necessary to help stop the spread of the disease, it also had the effect of halting business activities, disrupting sectors and placing a lot of strain on sectors that rely on global connectivity.
To support the economy, government and central banks across ASEAN have eased monetary policies to support economic activity and assemble stimulus packages to sustain businesses and individuals during periods of lockdown or movement restriction.
This publication provides a brief overview of the incentives and stimulus packages that have been rolled out in all ten ASEAN countries as a result of the COVID-19 pandemic with a particular focus on investment in the infrastructure and manufacturing sectors.