BUSINESS
Business Trends
in Southeast Asia
Countries in the Southeast Asian region
are now gearing up for the upcoming 2015
ASEAN Economic Community (AEC). The
recent positive business trends in some
ASEAN countries indicate their readiness to
merge. Some, though, still think that merging
soon is not a good idea.
LAO PDR
MYANMAR
businesses opening up recently. Sadly,
For the longest time, Laos is considered
It is one of the richest in terms of
devastating natural disasters still vastly
as one of the poorest countries in the world
resources, but among the poorest in terms
affect the livelihood of the Filipinos and put
but recent changes in its economic policies
of economy mainly because of government
a dent on the country’s economic progress.
paved the way for its growth. With recent
controls and ineffective economic policies.
economic reforms, the country had an
Corruption is also cited as one of the main
annual growth of 8.3% and inflation was
reasons for the continued decline of the
It is the richest country in Southeast
reduced to 7.8%. Although it relies heavily
country’s economy. However, with recent
Asia and is considered as one of the most
on foreign aid, Lao PDR has already worked
changes in government leadership as well
developed countries in the world. It also has
on tourism, agriculture and mining to boost
as the influx of foreign and local investors
a freedom score of 88 and is the 2nd freest
its economy.
the country has seen a slight increase in
in the 2013 index. The country’s openness
its GDP.
to global trade and investment paved
MALAYSIA
SINGAPORE
the way for it to become more globally
This country is one of the richest in
PHILIPPINES
competitive. Private sectors also contribute
the region. Its huge oil reserves keep its
With the change of administration in
a lot in making the country’s economy more
economy strong. However, the dwindling
the country in 2010, it has seen massive
resilient. Public housing, public health and
supply of oil as well as fluctuating prices in
economic boost in recent years, with an
other government programs are also visible
the world market has somehow affected the
economic growth of over 7% in the second
and well- implemented in Singapore.
country’s economy. Malaysia has diversified
quarter of 2013. The country is also hailed
and most businesses are concentrating
as the next tiger economy in Asia. Moreover,
on the increased demand for real estate
there is also a rise in the number of foreign
At the end of 2012, the country has seen
properties, entertainment centers and
investors in the country along with several
an 18.9% increase in its GDP compared with
many others.
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JAN-FEB 2014
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