Economic Outlook, Prospects and Business Opportunities
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HONG KONG–(BUSINESS WIRE)–After last year’s relatively subdued global economic rebound, the economies of the Association of Southeast Asian Nations (ASEAN) are well positioned for growth and economic growth. foreign direct investment (FDI) in 2022 and beyond, according to Tricor GroupFocus on ASEAN: economic outlook, prospects and business opportunitiesa compilation of business information to guide multinational enterprises (MNEs), SMEs and entrepreneurs interested in establishing, operating and growing businesses in ASEAN.
The report offers insights, observations and analysis from senior Tricor executives on the impact of global business trends on trade, investment and global market expansion in ASEAN economies. The report contains a special section on the historic signing of the Regional Comprehensive Economic Partnership (RCEP). Connecting 15 countries and covering 30% of the world’s population as part of the world’s largest trading bloc, RCEP is expected to reduce tariffs on between 90% and 93% of cross-border tariff lines. The report also contains an overview of each ASEAN market, with sections dedicated to business incorporation, tax considerations and working environment.
Lennard Yong, CEO of Tricor Group, said: “The adoption of the RCEP trading bloc is a defining moment for global trade and a crucial development that will inevitably redirect FDI flows in the months and years to come. Notably, mature ASEAN economies serve as a pivot to activate the deal. At Tricor, we are keeping a close ear on how this landmark agreement is sparking new global business trends, strengthening pan-Asian supply chains and expanding opportunities for foreign investors. Tricor’s specialized local expertise and dynamic relationships reinforce our status as a go-to partner for companies looking to grow in ASEAN, APAC and beyond.
Wendy Wang, Chief Financial Officer and Chief Operating Officer of Tricor Group, said: “As COVID-19 has ushered in a wave of trade protectionism around the world, RCEP envisions a pan-Asian trade network exceeding the size, scale and scope of the EU trade agreement. It is based on the belief that greater market openness promotes greater economic prosperity. One of the most promising features of the agreement is that, for the first time ever, the emerging economies of ASEAN are now linked to the developed economic powerhouses of China, Japan and South Korea through of an inclusive trade agreement. RCEP all but guarantees that intra-Asian trade, which is already cumulatively larger than APAC’s trade with North America and Europe combined, will continue to serve as a growth engine for the global economy.
David Ong, CEO of Tricor Singapore, said, “RCEP greatly enhances cross-border trade, which is at the very heart of Singapore’s open and export-oriented economy. Notably, companies in Singapore are enjoying greater flexibility in their sourcing strategies and now have access to more suppliers in ASEAN and APAC. At Tricor Singapore, we are committed to helping global and local companies pivot their business plans so they can capitalize on these emerging opportunities and collaborate with regional partners to explore new markets.
Sunshine Farzan, Tricor Group Marketing and Communications Manager, said: “The headlines of the past two years have been dominated by one pervasive story: COVID-19. Few could have foreseen the pervasive distress and disruption the pandemic would bring to economies and businesses around the world. But Tricor Group’s recent experiences on the ground suggest that, despite the obstacles and uncertainties looming on the horizon, emerging opportunities abound for global businesses. In particular, the recently adopted economic policies and the activation of the RCEP open new doors for ASEAN. By highlighting these emerging insights and prescribing possible advances, Tricor’s ASEAN in Focus: Economic Outlook, Prospects and Business Opportunities can help business leaders and investors stay ahead of the changing landscape. of today. »
Key highlights from Tricor’s ASEAN in Focus: Economic Outlook, Outlook and Business Opportunities include:
A deep dive into business incorporation, tax considerations, and the working environment for each of the 10 ASEAN economies.
An exploration of how ASEAN serves as a growth engine for the investment and expansion strategies of mainland Chinese multinationals.
An overview of ASEAN and the impact of RCEP, examining FDI flows and data from qualified third-party sources, as well as insights from Tricor experts on why multinationals and investors choose ASEAN ‘ASEAN for the expansion of their activities.
An analysis of Singapore’s position as a “gateway to ASEAN”, drawing attention to why multinationals around the world are targeting Singapore as a launching pad for global expansion plans.
A summary of common challenges and how Tricor helps clients achieve their goals of global expansion and investment in ASEAN economies.
With Tricor’s services and expertise, the guidance provided in the report empowers companies with in-depth insights to pursue their business goals and take advantage of the latest global business trends transforming ASEAN, APAC and beyond.
To access the guide, please visit https://www.tricorglobal.com/asean-in-focus-economic-outlook-insights-opportunities.
About the Tricor Group
Tricor Group (Tricor) is Asia’s leading business development specialist, with global knowledge and local expertise in business, corporate, investor, human resources and payroll, trust services and corporate debt and governance consulting. Tricor provides the building blocks for clients’ business growth, from incorporation to IPO. Tricor has grown rapidly through organic growth and development as well as partnerships, mergers and acquisitions. The Group now has approximately 50,000 customers worldwide (including approximately 20,000 customers in mainland China), a workforce of approximately 3,000 people and a network of offices in 49 cities across 22 countries/territories. Our client portfolio includes approximately 2,000 companies listed in Hong Kong SAR, Mainland China, Singapore and Malaysia, and over 40% of Fortune Global 500 companies, as well as a significant portion of multinationals and private companies operating in international markets.
For more information please contact:
HONG KONG SAR (GROUP OFFICE)
Tricor Services Limited
Group Marketing & Communication Manager
Tel: +852 2980 1261
E-mail: [email protected]
Source: Tricor Group