From smart expansion to regional adaptation, there are so many strategies to take into consideration when planning to build your business in Southeast Asia
Did you know the temples of Angkor Wat were created by the God-King’s of the ancient world; a breath-taking and elaborate series of rambling structures to equal anything previously observed on the planet. It is not surprising that an assortment of backpackers, college students and families converge on the area – an eye-catching mixture of ancient and contemporary customs highlighted by legendary temples, historic museums and untouched beaches. Yet beyond the tourist attraction, lies a region teeming with untapped business potential. Areas such as Thailand and Singapore are supported by a youthful population, nascent middle class and fast urbanization. It is no surprise that there is an energetic market for business in Southeast Asia. Opportunities for development include sectors like financial services, gas and oil and construction. The rising need for reputable infrastructure has seen many construction businesses invest in the region. Business leader Takuzo Shimizu, for instance, deploys his organizations’ technical knowledge to obtain contracts for diverse long-term undertakings like subway stations and bridges.
A lot of people generally anticipate that Japan and China are the optimum hotspots for businesses trying to expand in the continent. However, going further south there is an incredibly dynamic and emerging marketplace packed with untapped potential. An easy guide on how to do business in Southeast Asia is helpful to understand a region bound by nine established languages, ten different currencies and a plethora of fascinating religious beliefs. It isn't uncommon that companies around the world are keen to invest in diverse infrastructure, development and e-commerce assignments. There's also fantastic opportunities for regional businesses to develop. Technology tycoon Anthony Tan, for instance, has established a transportation business supplying food deliveries and online services. These fascinating innovations are driven by the rise of young and significantly middle-class populations paving the way for new markets. Southeast Asia technology can aid the travel sector, where tourists heavily require digital platforms to navigate and share their content.
Indonesia is typically recognized for the assortment of untouched wildlife, iconic temples and interesting tourist sites. But don’t be surprised to view a rising number of businessmen replace tourists. It's among the biggest oil exporters in the whole area; with recent studies showing production at approximately $1.5million barrels on a daily basis. Alongside regular economic heavyweights in the continent, these staggering numbers implies there are copious business opportunities in Southeast Asia. Significant figures in the business land, like Jean-Michel Jacoulot, have loads of experience within the oil trade. Yet the country is not only known for its crude oil exploration and refinery. As typical of nascent markets, there is a growing demand for consumer driven industries. Goods like food, beverages and consumer electronics will continue to develop. The huge growth of online users also creates big possibilities for innovation and expansion.