A new study highlights the importance of the ASEAN for Chinese companies and outlines how to tap into its vast potential via Singapore.
For Chinese companies seeking to build their presence in the Association of Southeast Asian Nations (ASEAN) and develop regional expansion strategies, Singapore will play a pivotal role as a regional gateway and base from which to transact and trade with trust and confidence, particularly in high value-added sectors such as advanced manufacturing, technology and healthcare/pharmaceuticals.
Shanghai-based TMF Group has launched a paper entitled «China Outbound Investment: Accessing the ASEAN opportunity through Singapore» that highlights the importance of the ASEAN for Chinese companies and outlines how to tap into its vast potential via Singapore.
Strong Competitive Advantage
The paper is based on interviews and contributions from senior executives of TMF Group and Singapore Economic Development Board (EDB).
«Singapore’s pro-business policies, connectivity within Southeast Asia, combined with a highly skilled workforce and cutting-edge infrastructure, give it a strong competitive advantage. According to World Bank rankings in 2018, Singapore is the second easiest place to do business,» Goh Pei Sheng, Regional Vice President in EDB, said.
«A regional strategy is essential for long-term success in the region, given the varying levels of development and infrastructure, and vastly disparate and complex regulatory regimes among ASEAN member nations,» Thun Lee, Head of China in TMF Group, added.
