In today’s era, leading international companies are looking for business opportunities in developing countries. International investors view Southeast Asia as an attractive market to grow their investments, strengthen networks, build opportunities and widen their business area. Southeast Asia is currently viewed as an emerging business-hub region where each country offers a rule-based, people-oriented and people-centered culture.
Southeast Asia comprises of ten (10) countries in the region, each of which are members of the Association of Southeast Asian Nations (ASEAN). ASEAN was established in 1967 by Indonesia, Malaysia, Philippines, Singapore, Thailand, and joined by Brunei Darussalam in 1984 , Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999 “to promote active collaboration and mutual assistance on matters of common interest in the economic, social, cultural, technical and administrative fields,” as one of its aims and purposes in the region.
Since it was founded, the ASEAN has played a major role in social progress, nutrition and health, and increasing imports and exports in the world economy.
What to expect from the Southeast Asian economy?
As indicated in the ASEAN Economic Community (AEC) Blueprint 2025, in the coming year, its ten members will prioritize the development and promotion of micro, small and medium-sized enterprises (MSMEs). ASEAN will continue to enhance its digital technology to accelerate its trade and investment, e-commerce platform, good governance, and green technologies. The regional economic integration agenda will strengthen its development toward a sustainable economy.
Potential investors may be skeptical about moving their activities in Southeast Asia by anticipating the roadblocks such as transportation, communications, supply chain, and infrastructure. However, doing business in ASEAN countries can be achieved by realizing the region’s advantage and its full potential even during times of global economic uncertainty. When doing business in ASEAN, investors need to know about the incentive schemes, corporate establishment, tax compliance, human resources and payroll in each country.
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Bull Run Consulting Co. (BRC) is well-versed in the business opportunities that arrive in Southeast Asia. BRC, a management consulting firm, offers services and solutions for your organization that will serve as a springboard towards organizational success. From formulating strategies, developing new ventures, managing new projects and engaging in new areas of opportunities, BRC will help you get there. If you are looking to capitalize on these growing economies, BRC can help you adopt a calculated strategy to succeed in this ever-growing and fast-paced region.
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