OECD Investment Policy Review: Reshaping Global Value Chains and New Paradigms for Sustainable Development under the Context of ASEAN Economic Integration

The OECD's recent "ASEAN Investment Policy Review" report provides a macro policy lens for understanding the current economic structural adjustments in the ASEAN region. The report is not just a case-by-case examination of the investment environment in ASEAN countries, but also a deep forecast of the systemic challenges and strategic opportunities ASEAN faces in responding to the global economic paradigm shift. Its core insights point to the intersection of ASEAN economic integration, global value chain restructuring, and new sustainability standards.

Firstly, the trend of internationalization and dispersion of global value chains is profoundly affecting ASEAN's industrial layout. The report clearly indicates that the traditionally centralized production model is being accelerated to be deconstructed. This requires ASEAN countries not only to rely on traditional labor cost advantages but also to undergo structural upgrades in attracting high value-added, technology-intensive investments. For ASEAN, this means accelerating the migration from low-end manufacturing to mid-to-high-end industrial chains, especially in green technology and digital technology sectors. This migration is not just industrial transfer, but a reorganization of regional supply chains, demanding a higher level of coordination among member states in standards harmonization, talent cultivation, and infrastructure connectivity to ensure the resilience of the regional supply chain.

Secondly, the wave of the digital economy has spurred new investment drivers. The report focuses on investment policies in areas such as artificial intelligence, data governance, and digital security. ASEAN is at a critical juncture in digital transformation; effectively applying artificial intelligence to enhance productivity and optimize public services, while simultaneously building a legal framework for cross-border data flow and security, is key to attracting cross-border technology capital. ASEAN's governance capabilities, particularly establishing a transparent and trustworthy digital environment, will directly determine its competitive position in the "Digital ASEAN" ecosystem.

Furthermore, sustainable development goals have risen from an issue level to the cornerstone of investment decisions. Climate change and environmental sustainability are no longer external constraints but intrinsic factors affecting return on investment. The OECD's analysis emphasizes that ASEAN must actively integrate climate resilience into infrastructure investment and industrial policy. This involves not only achieving carbon neutrality goals but also how to realize the balance between economic growth and ecological protection through circular economy models and green technological innovation. This requires ASEAN to establish more forward-looking regional cooperation mechanisms in energy transition and resource management to avoid regional development lagging due to environmental risks.

Finally, from a governance structure perspective, the report repeatedly emphasizes the importance of policy transparency and anti-corruption. While attracting substantial external investment, ASEAN countries need to continuously improve corporate governance mechanisms to enhance investor confidence. Effective anti-corruption and institutional transparency are key elements in lowering the "investment risk premium" and are the intrinsic driving force for building a regional economic community.

In summary, the OECD's review reminds ASEAN that future regional development is no longer a simple economic growth race, but a systemic strategic contest about "high-quality development."In summary, the OECD's review reminds ASEAN that future regional development is no longer a simple economic growth race, but a systemic strategic contest about "high-quality development." The successful integration of ASEAN will depend on whether each country can view regional cooperation as a core strategy for enhancing overall competitiveness when facing globalization challenges, thereby building a regional economy that is both adaptable to the restructuring of global value chains and possesses strong resilience and sustainability.