GTDW FDI Trade & Supply Chain Digitalisation News
May 16, 20231 min
As decarbonization gains traction globally, there is immense potential in Southeast Asian nations to become viable global manufacturing hubs for renewable energy, according to a forum hosted by the Asian Development Bank (ADB).
The region should leverage its strengths on the production of solar photovoltaic (PV), electric motorcycles and batteries to help meet the growing demand for these renewable energy inputs and end-products, according to a presentation by Vaibhav Dua, a partner and leader of sustainability in Asia at McKinsey, during an ADB forum.
“Cooperation between an array of international and regional stakeholders is required to ensure that Southeast Asia secures its place as a global ‘center of gravity’ for renewable energy manufacturing, and to grow the overall aspiration for the region as a whole,” the summary read.