the green technology behind China and the European Union. Oil reserves in Southeast Asia are plentiful. In 2022, Malaysian petroleum industry through its oil and gas company, Petronas, was ranked eighth in the world by the Brandirectory. Seventeen telecommunications companies contracted to build the Asia-America Gateway submarine cable to connect Southeast Asia to the US This is to avoid disruption of the kind caused by the cutting of the undersea cable from Taiwan to the US in the 2006 Hengchun earthquakes. Tourism has been a key factor in economic development for many Southeast Asian countries, especially Cambodia. According to UNESCO, "tourism, if correctly conceived, can be a tremendous development tool and an effective means of preserving the cultural diversity of our planet." Since the early 1990s, "even the non-ASEAN nations such as Cambodia, Laos, Vietnam and Burma, where the income derived from tourism is low, are attempting to expand their own tourism industries." In 1995, Singapore was the regional leader in tourism receipts relative to GDP at over 8%. By 1998, those receipts had dropped to less than 6% of GDP while Thailand and Lao PDR increased receipts to over 7%. Since 2000, Cambodia has surpassed all other ASEAN countries and generated almost 15% of its GDP from tourism in 2006. Furthermore, Vietnam is considered as a growing power in Southeast Asia due to its large foreign investment opportunities and the booming tourism sector. By the early 21st century, Indonesia had grown to an emerging market economy, becoming the largest economy in the region. It was classified a newly industrialised country and is the region's singular member of the G-20 major economies. Indonesia's estimated gross domestic product (GDP) for 2020 was US$1,088.8 billion (nominal) or $3,328.3 billion (PPP) with per capita GDP of US$4,038 (nominal) or $12,345 (PPP). By GDP per capita in 2023, Singapore is the leading nation in the region with US$ 84,500 (nominal) or US$140,280 (PPP), followed by Brunei with US$ 41,713 (nominal) or US$ 79,408 (PPP) and Malaysia with US$ 13,942 (nominal) or US$ 33,353 (PPP). Besides that, Malaysia has the lowest cost of living in the region, followed by Brunei and Vietnam. On the contrary, Singapore is the costliest country in the region, followed by Thailand and the Philippines. Stock markets in Southeast Asia have performed better than other bourses in the Asia-Pacific region in 2010, with the Philippines' PSE leading the way with 22