European firms in Asia – What is the future?

According to the Business Times and report done by Standard Chartered, 9 in 10 European companies doing business in ASEAN are predicting a growth in the coming year. Particularly, Vietnam, Malaysia and Thailand have been noted to be the top markets for expansions.

Senior Executives in 40 Europe-based companies were polled on their perspective on the Europe-ASEAN trade.

Drivers such as growing consumer market, free trade agreements and a reliable supply base are reasons why business is expected to go up in the next 12 months.

There are 6 high-potential sectors where growth is enabled, in no ranking order: 1) Pharmaceutical productions, 2) FMCG, 3) Automotive, 4) Construction and Engineering, 5) Renewable and clean energy and 6) E-commerce.

At NAOS International, our Senior Consultants are well-versed with regional nuances and have actively been working with European companies in advising on hiring leadership talents in Asia for the past decade. Reach out to our Senior Consultants to find out more.

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Link: https://www.businesstimes.com.sg/asean-business/european-firms-betting-big-on-vietnam-malaysia-and-thailand-for-growth-report

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