Companies have been interested in entering the Asian market for many different reasons and you should be too. Trade agreements like the ASEAN (Association of Southeast Asian Nations) help streamline trade between many different countries in the Southeast Asian region making this area business-friendly. NNRoad can help your business navigate through the different markets of Asia to best suit your global expansion strategy. Keep reading to learn about the top three Asian markets to do business in.
After major government reform in 2014, Thailand has made efforts to improve the country’s economy. The country has low unemployment rates and low inflation making it a hub for a productive working middle-class and economic stability. Here is why you should do business in Thailand:
Malaysia’s main drivers are technology and knowledge-based services, and the government has put in efforts to promote foreign investment in these sectors. Businesses would find that Malaysia is a very lucrative market for a number of reasons:
Singapore is a hub of business activity in the Asia Pacific region. For example, the country accumulated $77.6 billion USD in foreign direct investment (FDI) in 2019, an increase of 2.5% from the previous year. The government actively supports businesses that are based in Singapore and many multinational corporations engage within the country. Here’s why companies do business in Singapore:
Thailand, Malaysia, and Singapore all have something special to bring to the table and businesses should keep their eyes on them. Global expansion in Asia can be made possible from partnering with NNRoad. NNRoad’s trusted experts understand the local laws in each jurisdiction to make your business expand into new markets with ease. Learn more about our employment solutions, entity set up, payroll and benefits administration services as you prepare for your entry into Asia.