ASEAN Economic Reform Programme
This programme promotes inclusive economic growth in south east Asia, and increasing prosperity, through business environment, financial and business services.
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Until January 2019 the ASEAN Economic Reform Programme was called the South East (SE) Asia Economic Reform programme.
This Economic Reform programme aimed to address 2 themes: business environment and financial and business services, whilst looking at where the UK can add the most value. These are central to inclusive economic growth and support further sector-specific Prosperity Fund work.
The programme was worth £21 million over 4 years, and was expected to deliver £351 million in primary benefits and £352 million in secondary benefits over 10 years.
Business environment
Improving the business environment can deliver a significant boost to economic growth. Each regulatory reform is associated, on average, with a 0.15% increase in growth.
Financial and business services
Economic growth would be more stable and inclusive if the region’s capital markets were developed further. Growth from financial development can only be inclusive if it meets the financing needs of households and firms, including the underprivileged.
This programme focused on the 6 largest south east Asian countries: Indonesia, Myanmar (Burma), Malaysia, the Philippines, Thailand and Vietnam. In the final year of the programme, it expanded to more ASEAN member countries.
Updates to this page
Last updated 3 April 2024 + show all updates
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Annual review October 2021 to March 2023 and programme completion review added.
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2021 annual review added
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Two documents added: the evaluation report cycle 2, and the 2020 annual review.
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First published.