20 Apr New opportunities for Southeast Asia’s manufacturing abound
Southeast Asia is the next big manufacturing destination.
According to Manufacturing Asia, the industry portal serving Asia’s manufacturing landscape, manufacturing players diversifying their supply chain through the ‘China Plus One’ or ‘Plus One’ approach could create a hotbed of activity in Asia.
These recent movements are designed to avoid bottlenecks and delays caused by the COVID-19 pandemic. Consequently, Southeast Asia could have 3 areas of business opportunities according to industry experts.
First is the region’s economical growth, thanks to migration of manufacturing activities that creates jobs, accelerate infrastructural development, and draws international business.
Second, the growth of construction and infrastructure could result from such movements in manufacturing activity with new factories being set up.
Lastly, supply chain diversification could have a ‘long-term ripple effect’ on the region’s respective specialities, such as the automotive sector in Thailand or electronics and technology in Vietnam.
NAOS International has been supporting clients in the Manufacturing and Industrial space, hiring top talents for firms to capitalize on growth opportunities in the region. Reach out to our team to learn more about how we can support your growth in SEA.