Businesses view ASEAN economic integration as opportunity rather than threat

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The majority of businesses see ASEAN economic integration presenting more of an opportunity rather than a threat.

This was according to the findings from the 2013 ASEAN Business Advisory Council Survey on ASEAN Competitiveness as the regional bloc pushes on with its efforts to realise the ASEAN Economic Community by end-2015.

A poll of 502 firms across ASEAN found that over half of them considered ASEAN economic integration will pose a low or very low threat to their organisation, while close to 60 per cent of the respondents said it will provide a high or very high opportunity.

However, the survey noted that a lower share of small or local firms shared this sentiment.

Meanwhile, businesses continued to view the ASEAN region’s competitiveness for investments positively.

Some 9 in 10 firms planned to invest or increase investments in an ASEAN country over the next three years. A higher share of businesses also intended to invest in Singapore, Malaysia, Indonesia or Thailand.

The survey also showed that more businesses are adopting an ASEAN strategy in their approach to expansion, marketing and branding.

Close to half of the firms planned their investments in ASEAN countries over the next three years by considering the attractiveness of ASEAN as a whole, rather than individual countries.

In view of these findings, the ASEAN Business Advisory Council said ASEAN must ensure the timely and effective implementation of measures towards integration to spur even more businesses to adopt an ASEAN strategy.

These include enhancing transparency of rules and regulations in the areas of business registration, investment and customer procedures.






Source : Channel News Asia | December 10, 2013


About thomasdinnocenzi

Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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