Economic Growth

Challenge

Many economies in Southeast and East Asia are booming. Others, however, still suffer from high rates of poverty, unemployment, and underemployment, which are largely the result of slow economic growth. To create a supportive environment for regional growth, it is essential to foster economic integration and improved governance among economies at significantly different stages of development. 

USAID Response

USAID works with governments in the region to improve business law; reform banks, ministries and other institutions; and to strengthen fiscal and monetary policies. USAID also supports the Association of Southeast Asian Nations (ASEAN) and Asia-Pacific Economic Cooperation (APEC) in their efforts to enhance trade, economic growth and regional governance. USAID programs strengthen regional competitiveness through legal reform, anti-corruption efforts, access to credit, support for micro-, small- and medium-sized businesses, and cluster development - the geographic concentration of businesses in a particular field.

Current Activities

• Laos: Develop an Alternative to Opium Production
• Vietnam: Stronger Economic Policies and Governance
• Vietnam: Public-Private Partnerships Protect the Environment, Help Farmers, and Promote Information Technologies

Economic Growth Articles

• Leaders Discuss Need for Regional Reforms at SEA CLIR Trade Forum
• Longtail Fishing Boat Repair Center & Pier Open