EMERGING ASEAN MARKETS

Some of the most-targeted ASEAN business markets include Indonesia, Philippines, Myanmar, Vietnam, Laos and Cambodia. Other nations like Singapore, Malaysia, Brunei and Thailand are also key players, albeit well-established than their neighbours.

Indonesia & Philippines

Indonesia & Philippines form the fastest-growing business hubs with their innovative startup & services sectors, rubber, palm oil, apparel exports, O&G supplies, overseas labour, real-estate and increased digital and mobile presence. In Q2 2016, Philippines posted a GDP growth of nearly 7%, stunning global industry watchers and analysts alike. Indonesia, with its fairly young population, fiscal stability and largely agrarian background, still manages to maintain a lower unemployment rate.

Getting back on Track

As nations like Myanmar, Vietnam and Laos come out of decades of prolonged economic slump, these have now become hot spots for the manufacturing, construction, railways, banking and IT industries.

Myanmar’s Yangon Stock Exchange (YSX) which started operations in late 2015 has been the nation’s key economic growth indicator post the country’s historic electoral victory in the same year.

Vietnam, a favourite among manufacturers, has transitioned from poverty-stricken to a lower-middle class nation of dignified daily wagers. The country is one of the most sought-after ASEAN trade destinations; thanks to its low debt and inflation figures.

Logistics, Infrastructure & Intra-regional Trade

Cross-country rail initiatives have also bolstered growth in many of the ASEAN countries to enable better transportation of goods and connectivity through remote areas.

While shipping logistics and infrastructure have long-been Singapore’s stronghold, Bangkok, Malaysia and Jakarta are following suit in a big way.

Though ASEAN nations are known for their intra-region trade, their consolidation will strengthen their mobility into areas that desperately seek expansion.