April 6th, 2017
Association of Southeast Asian Nations (ASEAN) region is seen growing in 2017 and is projected to grow further into 2018. While already developed and mature countries such as Singapore are slowing their pace, up and coming nations such as Myanmar and Laos are growing at a fast rate as they are rapidly moving into the 21st century in terms of business and infrastructure. Indonesia and Malaysia are becoming big players in the region with their accelerated growth rate, while Thailand is moving along at a steady and moderate pace.
Myanmar and Laos are stepping up their infrastructure drive to boost growth and diversify their economies as they seek to shed their image as the region's outskirts.
Indonesia has made infrastructure spending a priority this year. The Indonesia government is determined to overhaul the country's essential infrastructure in order to stimulate its economy and attract investment. With the country's business environment becoming ever more vibrant combined with infrastructure enhancements, entrepreneurs should prepare themselves for a whole new world of opportunities in Indonesia.
The Malaysian economy is gaining steam. Higher energy prices and a weak ringgit should support Malaysia's export-dependent economy this year including the increased sales of electronics and refined petroleum products.
Thailand's key location gives investors' access to Asia. In recent weeks economic activity in Thailand has been stable and is set to continue moving forward steadily. Thailand has also seen healthy growth in both exports and imports this year and shows trade flows are accelerating in the region. Public infrastructure investment and the stable and gradual acceleration in global trade are supporting the economy in the region. Finally, business opportunities in Thailand are growing across several industries including automotive, alternative energy, food, electrical & electronics, logistics, printing, yacht building, rubber industry, and more.
Finally, the 10-member Asian Nations are a single regional economic market and are creating new investment opportunities for the region, and the region is quickly launching into the global economy.
For questions about Tiger-Consulting's HR, Payroll, and Business support services in Asia, contact sales@Tiger-Consulting.net Custom quotes are free of charge.
Founder & CEO, Tiger-Consulting