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

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About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. http://www.NovaAdvisors.com thomas@NovaAdvisors.com USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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