Focus on ASEAN
Rising economic growth, an expanding middle class, relative political stability and eye-catching trade agreements make the Association of Southeast Asian Nations (ASEAN) an attractive region for the foreign investor.
Comprising of ten countries in Southeast Asia that cover a land area of 4.46 million km2, and with a combined nominal GDP of more than $2.31 trillion, the region hosts almost nine percent of the world’s population across Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Myanmar, Cambodia, Laos, and Vietnam.
"…the fantastic market diversity and wide range of opportunities are particularly attractive across a variety of sectors…"
The growth of the region’s economy is expected to exceed the global average for years to come, and with a rich wealth of natural resources, low-cost skilled labour, and their free trade agreement, the fantastic market diversity and wide range of opportunities are particularly attractive across a variety of sectors including infrastructure, oil and gas, mining, manufacturing, and information and communications technology.
Although it presents a fantastic opportunity for overseas expansion, the fact that ASEAN comprises of 10 independent countries does of course mean there is a wide range of socio-cultural differences, and differing legal and regulatory complexities. Fragmented markets and fierce competition from all over the world are amongst the other challenges you can expect to face, but with thorough research of the region, you can anticipate achieving great business in ASEAN.