Asia Pacific's Time

We must act now.

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Asia Pacific's Time

Asia Pacific is changing. The strong fundamentals which dramatically improved prosperity and living standards across the region, can no longer be relied upon to address the inevitable continuous disruptions. The era of passive growth is over; it is now time to act. This is Asia Pacific’s time. Asia Pacific must now build a resilient future on five pillars: Advancing the digital economy, enabling regional enterprise growth, rebalancing supply chains and fostering innovation, future-proofing the labour force, and building towards a net-zero economy.

Advancing the digital economy

Businesses across the region must accelerate their digital adoption in order to stay competitive. This will require identifying the right areas for digitalisation and prioritising technological solutions at appropriate places in their value chain. However, the ensuing security and data-related risks will require business and government to enhance data privacy and cyber-security policies.

Enabling regional enterprise growth

With rising global uncertainties, enterprises must proactively expand their regional presence to benefit from the growing opportunities across Asia Pacific. This will be even more relevant with the recent signing of the world's largest trade agreement, the Regional Comprehensive Economic Partnership (RCEP). Operational performance, product and process innovation, and go-to-market excellence will be crucial, with regional expansion in the services sector and growing digitalisation being high-potential areas.

Rebalancing supply chains and fostering innovation

Businesses must seize this moment to restructure their global supply chains and transition to new regional networks. This rapidly changing environment will allow nations to develop hubs in which corporations and start-ups, collaborating with academia and governments, work together to drive innovation.

Expand and future-proof the labour force

The region needs a workforce equipped with advanced and relevant skillsets for its near and long term future. Businesses should reskill employees’ for their entire careers through effective partnerships, whilst governments need to develop new long-term growth goals and identify the tomorrow’s jobs before revising their education strategies. This needs to be done with the support of business and local communities to develop the necessary talent for future growth.

Building climate change resilience towards a net-zero future

Asia Pacific is highly vulnerable to climate change and should take a leadership role in creating a net-zero future. Actors throughout the region must collaborate in the construction of a circular economy, while enhancing food security with innovative agritech solutions across the developed and developing parts of the region.

Addendums

These report addendums contextualise our report, Asia Pacific's Time, for the relevant market. We will be adding new markets to the addendums in the coming week.

Australia China Indonesia Japan Malaysia

Singapore Taiwan Thailand Vietnam

Asia Pacific Leaders

Sridharan Nair

PwC Asia Pacific Vice Chairman, Markets, PwC Malaysia

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Asia Pacific's Time