The automotive sector is a major driver of the Thai economy with strong infrastructures and a vast network of small and large, local and foreign companies all along the car-production supply chain. A large hub in ASEAN and Asia, the Thai automotive industry is gearing towards a green automotive production base.
The growing exposure and recognition of Southeast Asian art is creating a new dynamism in the art market of Singapore and the region. As more interest bring more money into the market, a new virtuous circle benefits all the actors of the art scene: artists, collectors, galleries, museums and amateurs.
Southeast Asia is a critical market for the global energy sector with an important production of fossil fuels and a rapidly growing consumption of fossil fuels and electricity. At a challenging time for energy and global growth, the integration of power in ASEAN could also bring new opportunities for the region.
To enhance the development of strategic industries in Thailand’s different regions, the Thai authorities have launched a series of policies to attract target businesses. With clusters for several sectors and throughout the country, incentives have been planned to promote industries in areas that present specific advantages.
ASEAN attracts a lot of attention from businesses and investors thanks to its high level of economic growth and a widening middle class. With the unfolding of the ASEAN Economic Community they will reap more and more benefits as the deepening regional integration eases business practices and creates new opportunities
The global enthusiasm for entrepreneurship is well represented in Thailand. Benefiting from several intrinsic advantages, the land of smile is now home to a booming ecosystem supporting and revolving around startups and entrepreneurs in the tech sector as well as in several other industries.
Indonesia has been one of the fastest growing economies of Southeast Asia for several years, and so it remains in 2015. Other positive results in poverty reduction, governance and abundant natural resources compensate certain negative aspects in Indonesia and challenges to apprehend in several key sectors.
Myanmar is the new frontier for business in Southeast Asia. A large and populated country just opening its doors to foreign companies and investors, Myanmar is rich with opportunities in many sectors. However, Myanmar also presents several technical and legal challenges to be managed and overcome by new comers.
Singapore has grown into a major hub for technology start-ups in Southeast Asia. For the aspiring entrepreneurs, the presence of a new dynamic and multicultural generation as well as supportive business and financial structures make Singapore a great place to think about for starting a business and making a global impact.
Implemented on 31 December 2015, the ASEAN Economic Community proposes to consolidate the economic integration of the region. This review summarizes the state of the ASEAN integration, how it will benefit the private sector to do business in the region and the progress of each country towards this ambitious goal.