The diverse Asian region offers many opportunities for business, especially because of the many technological advances in the area. Many investors also choose to do business in the region because of the progressive environment and availability of local tech talent.
Check out the top countries to choose from when starting a business in Asia.
China is recognised around the world as an enormous economy, coming in second only to the USA when it comes to size. To top it off, the country has the fastest-growing economy in the world.
China is known for mass-produced consumer goods that inundate many global industries, with a large available workforce to sustain demand.
Japan rules the global electronic industry, along with being one of the leading countries in car production. Japan is one of the key economies in Asia and the world. The size of the country’s economy alone is of particular note.
South Korea is catching up fast with Japan and the rest of the world when it comes to tech and automobile production. The country has significant memberships in many economic , including the international forum G20, APEC, and the World Trade Organization, forging its place on an international scale as it continues to grow.
Asia has Hong Kong to boast about in the global business world. Aside from being an internationally recognised business hub, this Special Administrative Region also offers free trade and lower taxation.
Hong Kong enjoys an East-West cultural mix, despite its deeply Cantonese society, making it a good business environment for many with an entrepreneurial spirit.
Like Hong Kong, Singapore offers low taxation, coupled with the country’s reputation as one of the leading economies of the world in terms of .
According to Bloomberg, Singapore is one of the top financial hubs in the world, just behind London and New York. Banking is among Singapore’s biggest industries, and the country is still growing.
The emerging economy of Vietnam is known for its rice production. The country has become one of the major Asian exporters in agriculture, with its produce found all over the region and the world.
Vietnam is also known as one of the most notable developing economies in terms of growth. Now with eased restrictions, manufacturing in the country is opening up more to the world.
Malaysia is Southeast Asia’s Islamic financial hub. This is of particular significance given the size of the global Muslim population. The culture is a mix of Chinese, Indian and Malay, the diversity paving the way for strong business relations.
Indonesia holds the distinction of being the biggest economy in the Southeast Asian region, according to the World Bank. The country is not far behind China in global growth, being able to weather economic crises very well. Indonesia puts an emphasis on .
Thailand is a major exporter in Asia and the rest of the world, maintaining economic ties with powerful countries. The country encourages free trade, with reduced restrictions on conducting business.
When it comes to the future, the Philippines has a bright outlook. The country is predicted to be among Asia’s top five economies, as well as becoming the largest one in Southeast Asia.
With highly skilled local talent, the country is an emerging hub for English speaking corporations in the Asia, with the Philippines being a leader in business process outsourcing such as call centres, among other services, already surpassing India.
Take the opportunity and delve into the growing Asian market. With many new opportunities to be found, the time to immerse your business in the region is now.
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