During our recent visit to Jakarta, the mood felt downbeat. Trump 2.0 is now on the horizon, and there is considerable uncertainty with regards to trade tariffs. In contrast, our trip to Ho Chi Minh City felt very different. While there are many distinctions between the two nations, they both present intriguing stories.
In our full note, we discuss:
Indonesia’s economy has benefited from significant infrastructure investment as well as the contested decision to ‘downstream’ commodities.
Domestic consumption in Indonesia is about to increase dramatically, stemming from political policies aimed at improving access to food, heathcare and affordable housing.
Vietnam has been the recipient of sizable foreign direct investment stemming from the creation of large scale, national champions in manufacturing.
Vietnam’s economy has seen marked growth, benefitting from a young, educated population who appear to value diversity & inclusion in the workplace.
Original publication date December 2024