ASEAN BUSINESS DEVELOPMENT
At the end of 2015 the ten countries of the Association of Southeast Asian Nations (ASEAN) integrated their economies into one single common market and created the third biggest economic market in Asia after China and India with a population of more than 625 million women and men. Its massive labor force of meanwhile more that 300 million people which is increasing by 20% annually has already become more cost competitive than China, which suffers from the high wage inflation in recent years.
Despite the annual economic average growth of already 5% over the past decade the ASEAN Economic Community has still the potential to accelerate growth and double its productivity by 2025. Business opportunities in ASEAN seem therefore to be endless and the free movement of goods, investments, capital, services and skilled labor within the community does not only attract the interest of local companies. Multinational enterprises have noticed this development at an early stage, too, and the foreign direct investment inflow into this region is constantly growing and has already surpassed the investments received by China.
However, it has already become clear that there will be a continued imbalance between the Member States and the impact for each nation and industry is still not foreseeable at the moment. Nevertheless, this development will necessarily change the composition and distribution of jobs across the community. Investments and labor productivity will therefore become critically important for organizations in their region.
In today's global economy, it is a well-known fact that market proximity creates a competitive advantage and is considered crucial for a market development success in Asian countries.
● Eliminating high import tariffs
● Establishing consumer confidence
● Creating positive customer interaction
● Maintaining central leadership
However, it is important for foreign organizations to weigh in all pros and cons in a comprehensive market analysis in order to consider their essential business aspects for this complex undertaking properly.
● Where are the target consumer groups located?
● How is the labor market situation in each country?
● Is the transportation infrastructure suitable?
● Are there different regional tax incentives offered?
Don’t miss the opportunity to secure your business and the benefits of this development and talk to us today. Our experts will analyze the challenges and trends in your industry and provide unique value to your business and targets.
Our business development consulting services include but are not limited to:
● MARKET DEVELOPMENT ANALYSIS
● STRATEGIC BUSINESS ASSESSMENT
● MARKET SCAN & MATCHMAKING
● REGULATORY COMPLIANCE SUPPORT
● M&A DUE DILIGENCE