While Asia’s economic prospects are promising, its growth is not foreordained. The young and middle-class demographic in many Asian countries must pick up the right skills to ride the digital revolution, says Deputy Prime Minister Heng Swee Keat.
Speaking at the 24th Credit Suisse Asian Investment Conference, DPM Heng highlighted how the region is anchored by sound fundamentals and favourable demographics.
“In countries like India, Indonesia and Vietnam, more than half the population is under the age of 35. We also have one of the fastest-growing middle classes, which will boost consumption and drive demand for many sectors,” says DPM Heng, who is also Coordinating Minister for Economic Policies and Minister for Finance.