Tài liệu ASEAN Business Outlook Survey 2012-13 doc
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The American Chamber of Commerce in Singapore (AmCham Singapore) and the U.S.
Chamber of Commerce, in cooperation with other AmChams in the ASEAN region, conducted
a study among AmCham members of American businesses in seven Southeast Asian
countries: Cambodia, Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
This study, now in its 11th year, builds on previous studies conducted by AmCham Singapore
and the U.S. Chamber of Commerce. The purpose of the study was to understand members’
outlook on business growth and perceptions about a series of local factors in the ASEAN
region. The members surveyed were senior executives, working with for a companyies held by
each U.S. company were asked to complete the survey.
This regional report presents collective feedback received from senior members of: The
American Chamber of Commerce in Singapore, The U.S. Chamber of Commerce, The
American Cambodian Business Council, The American Malaysian Chamber of Commerce, The
American Chamber of Commerce of The Philippines, The American Chamber of Commerce in
Indonesia, The American Chamber of Commerce in Thailand, and The American Chamber of
Commerce in Vietnam (Ho Chi Minh City and Hanoi).
INTRODUCTION
CONTENTS
EXECUTIVE SUMMARY
business in ASEAN.
Expansion is expected to continue region-wide. The most popular location for expansion
is Vietnam, followed by Thailand.
Companies view ASEAN economic integration as very important, yet are sceptical that
Fewer than half of the respondents say they can utilize the provisions of ASEAN’s free
trade agreements with major trading partners, including China, India, Japan, Australia
& New Zealand, and South Korea. Large majorities indicated that those agreements are
important to their future investment plans in the region.
housing costs emerged as a new concern this year, most prominent in Singapore.
02 ECONOMIC OUTLOOK
04 ASEAN INTEGRATION AND FTAS
06 BUSINESS EXPANSION IN ASEAN
10 STRENGTHS AND CHALLENGES
11 WORKFORCE EXPANSION
11 EXPATRIATE SATISFACTION
14 CAMBODIA REPORT HIGHLIGHTS
15 INDONESIA REPORT HIGHLIGHTS
16 MALAYSIA REPORT HIGHLIGHTS
17 PHILIPPINES REPORT HIGHLIGHTS
18 SINGAPORE REPORT HIGHLIGHTS
19 THAILAND REPORT HIGHLIGHTS
20 VIETNAM REPORT HIGHLIGHTS
21 SURVEY METHODOLOGY
21 PROFILE OF RESPONDENTS
23 ACKNOWLEDGEMENTS
01
02 03
PROFIT OUTLOOK
Level of Trade/Investment in ASEAN Past 2 Years
Increase Stay at about the same level Decrease
Increase Stay at about the same level Decrease
Level of Trade/Investment in ASEAN Next 5 Years
Compared to 2011, do you expect your profits in ASEAN to increase,
decrease, or remain the same in 2012 and 2013?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
ECONOMIC OUTLOOK
INVESTMENT OPPORTUNITY IN ASEAN
ASEAN’s economic outlook continues to be positive after the volatility of the past few years.
the investment opportunities for their company in the ASEAN region. Respondents in both the
Respondents in Cambodia and Indonesia have the most optimistic outlooks of all countries
Very positive Somewhat positive Neutral Negative
ASEAN Investment Opportunity Outlook
Business executives report strong increases in the level of investment by their company
investment in the ASEAN region has increased in the past two years. One quarter of the
Regional
Total
Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
ASEAN Investment Opportunity Outlook (By Country)
6%
1%
37%
55%
5%
2%
37%
56%
7%
0%
47%
47%
9%
0%
41%
49%
3%
0%
38%
58%
13%
2%
38%
47%
0%
32%
68%
0%
19%
81%
Negative Neutral Positive Very PositiveVery Negative
04 05
FINANCING AND COSTS OF BORROWING
experiences with costs of borrowing remained similar to those of the past two years, with
much variance across the region.
IMPORTANCE OF ASEAN INTEGRATION
this integration is important to helping their companies do business in the region. Of all the
Percentage of respondents facing significant financing constraints
Regional
Total
Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
Percentage of respondents facing higher costs of borrowing
Regional
Total
Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
Yes No
Is ASEAN integration important to helping your company do business in the region?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
ASEAN INTEGRATION AND FTAs
ASEAN REGIONAL AGREEMENTS
assessed to be important to their company’s investment plans in the region. Importance
Comprehensive Investment Agreement.
ASEAN FREE TRADE AGREEMENTS
Fewer than half of business executives surveyed say their company can utilize the provisions
do so under the Korea agreement.
The data below shows the responses for each agreement.
Can your company utilize the provisions of the agreement to
export goods or services from ASEAN to the specified country?
Not Sure
No Yes
Australia &
New Zealand
China India Japan Korea
Importance of ASEAN Regional Agreements
Important Neutral / Not Important / Not Sure
06 07
DIVERSIFYING OPERATIONS FROM CHINA TO ASEAN
planning to diversify some investments or business from China into ASEAN over the next two
BUSINESS DIRECTION IN MYANMAR
the respondents are in opposition to suspending sanctions. Respondents based in Cambodia
Does your company plan to diversify some investments or business from China into
ASEAN Over the Next Two Years?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
Strongly Oppose Oppose Neutral Support Strongly Support
Please indicate how you feel about the United States government suspending
sanctions on Myanmar
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
However, the majority of respondents consider the ASEAN Free Trade Agreements to be
either important or extremely important to their investment plans in the region.
LOCATION OF BUSINESS EXPANSION IN ASEAN
their top location for expansion was Brunei.
BUSINESS EXPANSION IN ASEAN
Importance of ASEAN FTAs
Australia and
New Zealand
China India Japan Korea
Not at all Important Not Important Neutral Important Extremely Important
Location of Expansion in ASEAN
Vietnam Thailand Singapore Philippines Indonesia Myanmar Cambodia Malaysia Laos
08 09
exporting. Vietnam and Thailand had the largest numbers of respondents considering
future. In Cambodia,
it the country with the highest interest.
Not Sure Do not export and no plans
to export
Considering Exporting Planning to Export Currently Exporting
Which one of the following best describes your export activity with Myanmar?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
Not Sure Do not invest and currently
no plans to invest
Considering investing Planning to invest Currently investing
Investment activity with Myanmar
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
10 11
LOCAL BUSINESS ENVIRONMENT
Excluding respondents from Singapore, corruption and laws and regulations continue to be
corruption was the highest source of dissatisfaction for all countries except Singapore and
Malaysia.
Sentiment towards the U.S. remains highly positive across the ASEAN region and is a major
the exception of Malaysia, in which responses were mixed.
STRENGTHS AND CHALLENGES
Factors Regional Malaysia Philippines Singapore Thailand Vietnam Indonesia Cambodia
Infrastructure
Availability of raw materials
Availability of low cost labor
Availability of trained
manpower
Housing cost
Laws and regulations
Corruption (or lack of)
Local protectionism
(or lack of)
Tax Structure
Personal security
Stable government and
political system
New business incentives by
government
Ease of moving products
through customs
Free movement of goods
within the region
Sentiment towards the U.S.
StrengthConcern
EXPAT ASSIGNMENT SATISFACTION
from employees based in other locations to work in their response location. This is an
EXPATRIATE SATISFACTION
Does your company regularly receive requests from employees based in other
locations to work in your response location?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
OVERALL WORKFORCE BY COUNTRY
WORKFORCE EXPANSION
Decrease Same Increase
Do you expect your total number of employees in the response location to
increase, decrease, or remain about the same in 2012?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
12 13
EXPAT SATISFACTION IN RESPONSE LOCATION
REQUESTS FOR EXTENSION OF ASSIGNMENTS
Results show that, in most countries, increasing numbers of expatriate employees attempt
country in which fewer respondents stated that expatriate employees attempt to extend their
time there.
Do your expatriate employees attempt to extend their time in your response location?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
Are your expatriate employees generally satisfied with their assignments in
your response location?
Regional Singapore Malaysia Vietnam Philippines Thailand Indonesia Cambodia
EXPATRIATE SATISFACTION
14 15
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
CAMBODIA
Target Countries for Business Expansion
Myanmar Cambodia Vietnam Laos
Major Strengths
Major Concerns
Stable government and
Sentiment towards the
Availability of trained
Availability of low cost
Laws and Regulations
Free movement of goods
BUSINESS OUTLOOK
ASEAN Economic Outlook:
All respondents maintain a positive or
very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
Percentage of respondents facing
Importance of ASEAN Markets in Global
Business:
ASEAN markets have increased in
importance to their companies in the past
two years.
importance to continue to increase in the
next two years.
Business Direction and Movement in
ASEAN:
companies’ business in ASEAN.
Workforce Expansion:
BUSINESS OUTLOOK
ASEAN Economic Outlook:
All respondents in Indonesia indicated
a positive or very positive outlook for
the ASEAN region as an investment
opportunity for their companies.
Current Business Climate:
Importance of ASEAN Markets in Global
Business:
ASEAN markets have increased in
importance to their companies in the past
two years.
importance to increase in the next two years.
Business Direction and Movement in
ASEAN:
companies in ASEAN.
Workforce Expansion:
Target Countries for Business Expansion
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
INDONESIA
Vietnam Indonesia Myanmar Singapore
Major Strengths
Major Concerns
Availability of low cost
Sentiment towards U.S.
Local protectionism
Laws and Regulations
Ease of moving products
16 17
BUSINESS OUTLOOK
ASEAN Economic Outlook:
or very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
There has been a decrease in those facing
Importance of ASEAN Markets in Global
Business:
markets have increased in importance to
their companies in the past two years.
expect ASEAN importance to increase in
the next two years.
Business Direction and Movement in
ASEAN:
expand in ASEAN, and none expect to
contract.
Workforce Expansion:
Target Countries for Business Expansion
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
MALAYSIA
Vietnam Thailand Indonesia Malaysia Philippines
Major Strengths
Major Concerns
Sentiment towards U.S.
Free movement of goods
Ease of moving your
products through
Stable government and
BUSINESS OUTLOOK
ASEAN Economic Outlook:
or very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
Importance of ASEAN Markets in Global
Business:
ASEAN markets have increased in
importance to their companies in the past
two years.
expect ASEAN importance to increase in
the next two years.
Business Direction and Movement in
ASEAN:
expand in ASEAN.
Workforce Expansion:
Major Strengths
Major Concerns
Sentiment towards the
Availability of trained
Laws and Regulations
Availability of low cost
Ease of moving products
Target Countries for Business Expansion
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
PHILIPPINES
Philippines Vietnam Singapore IndonesiaThailand Myanmar
18 19
BUSINESS OUTLOOK
ASEAN Economic Outlook:
or very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
higher costs of borrowing.
Importance of ASEAN Markets in Global
Business:
markets have increased in importance to
their companies in the past two years.
importance to increase in the next two
years.
Business Direction and Movement in
ASEAN:
to expand in ASEAN.
Workforce Expansion:
Target Countries for Business Expansion
SINGAPORE
Indonesia MyanmarVietnam
Singapore
Thailand Philippines Malaysia
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
Major Strengths
Major Concerns
Stable Government & Political
Availability of Low Cost
Ease of Moving Products through
New Business Incentives Offered
Free Movement of Goods within the
BUSINESS OUTLOOK
ASEAN Economic Outlook:
or very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
The percentage of those facing higher
Importance of ASEAN Markets in Global
Business:
markets have increased in importance to
their companies in the past two years.
ASEAN importance to increase in the
next two years.
Business Direction and Movement in
ASEAN:
to expand in ASEAN.
Workforce Expansion:
Target Countries for Business Expansion
Outlook for Investment Opportunities
in ASEAN
Profit Outlook 2012
Profit Outlook 2013
THAILAND
SingaporeVietnam Thailand Myanmar Indonesia
Major Strengths
Major Concerns
Stable government and
Sentiment towards the
Laws and regulations
20 21
BUSINESS OUTLOOK
ASEAN Economic Outlook:
or very positive outlook for the ASEAN
region as an investment opportunity for
their companies.
Current Business Climate:
face higher costs of borrowing.
Importance of ASEAN Markets in Global
Business:
markets have increased in importance to
their companies in the past two years.
importance to increase in the next two
years.
Business Direction and Movement in
ASEAN:
expand in ASEAN.
Workforce Expansion:
Target Countries for Business Expansion
Outlook for Investment Opportunities
in ASEAN
VIETNAM
Laos Malaysia Brunei Philippines
Profit Outlook 2012
Profit Outlook 2013
75%
5% 5%
3% 3% 3%
2% 2% 2%
CambodiaVietnam Myanmar Thailand Singapore
Major Strengths
Major Concerns
Sentiment towards the
Laws and Regulations
Stable government and
Availability of low cost
Ease of moving products
SURVEY METHODOLOGY
Sample Size A list of AmCham members from U.S. companies with e-mail
contacts was provided by each AmCham:
66
130
224
238
1,103
238
367
Overall: List of 2,366
Data Collection Method
Web-based, self-administered survey. No enforcement on participation.
Data Collection Period
selecting multiple answers, respondents selecting “not sure,” or incomplete entries in the
data set.
Note 1:
to complete the survey.
Note 2:
PROFILE OF RESPONDENTS
respondents work in the manufacturing sector.
employees in the region.
Refer to the next page for more information.
22 23
Country Region Thailand Singapore Malaysia Vietnam Philippines Indonesia Cambodia
COUNTRY OF RESPONSIBILITY
Only ONE
country
41% 40% 12% 37% 73% 63% 58% 81%
Multiple
countries
41% 41% 41% 41% 41% 41% 41% 41%
PRIMARY ACTIVITIES
Service 53% 45% 68% 28% 14% 69% 39% 56%
Manufacturing
29% 34% 21% 55% 46% 12% 30% 19%
Other 19% 18% 17% 17% 16% 23% 26% 25%
SIZE OF WORKFORCE (NUMBER OF EMPLOYEES)
Below 50
26% 36% 32% 17% 20% 25% 16% 19%
50 to < 500
45% 36% 40% 47% 54% 45% 58% 56%
500 to <1,000
8% 9% 6% 7% 12% 13% 10% 6%
1000 to <1,500
5% 2% 4% 7% 3% 5% 7% 13%
1500 to <2,000
1% 2% 1% 3% 2% 3% 0% 0%
2000 or above
13% 16% 15% 20% 9% 10% 7% 6%
2012 TURNOVER IN RESPONSE COUNTRY (US$)
Below $1
million
10% 11% 9% 7% 15% 10% 3% 19%
$1 - <$49
million
49% 55% 44% 33% 52% 68% 45% 50%
$50 - <$99
million
10% 5% 10% 20% 9% 5% 10% 19%
$100 - <$499
million
14% 18% 13% 17% 12% 10% 19% 13%
$500 - <$999
million
5% 2% 5% 13% 3% 0% 7% 0%
$1 billion or
above
5% 7% 6% 3% 2% 0% 10% 0%
PERCENTAGE OF GLOBAL TURNOVER REPRESENTED IN RESPONSE LOCATION
Less than 5%
66% 75% 68% 70% 65% 62% 68% 38%
5% - <25%
19% 11% 22% 10% 25% 13% 19% 13%
25% - <50%
5% 0% 2% 17% 5% 10% 3% 6%
50% - <75%
1% 5% 0% 0% 2% 3% 0% 0%
75% - <100%
3% 2% 2% 3% 3% 5% 3% 6%
100%
6% 7% 6% 0% 2% 8% 7% 38%
This report was compiled and published by The American Chamber of Commerce in Singapore
and the U.S. Chamber of Commerce.
Editor-In-Chief:
Liyana Othman, Head of Communications & Corporate Relations, AmCham Singapore
Editors:
Anne Marie Brooks, Head of Regional and Public Affairs, AmCham Singapore
John Goyer, Senior Director, Southeast Asia, U.S. Chamber of Commerce
Brandt Williams, Government Relations Executive, AmCham Singapore
Alex Stuart, Communications Executive, AmCham Singapore
Research and Analysis:
Bill Dalbec, Senior Director, APCO Insight
Hannah Fornero, Government Relations Intern, AmCham Singapore
Georgiy Lomsadze, Government Relations Intern, AmCham Singapore
We would like to thank the following Executive Directors of the following AmChams in the
region for their expertise and support:
Jim Swander, The American Cambodian Business Council
Sarah Howe, The American Chamber of Commerce in Indonesia
Tim Garland, The American Malaysian Chamber of Commerce
Rob Sears, The American Chamber of Commerce of the Philippines
Judy Benn, The American Chamber of Commerce in Thailand
Adam Sitkoff, The American Chamber of Commerce in Vietnam (Hanoi)
Herb Cochran, The American Chamber of Commerce in Vietnam (Ho Chi Minh City)
We would also like to thank James Waller of Nathan Associates for his advice and guidance.
For more information on the survey, visit www.amcham.org.sg/aseanoutlook.
ACKNOWLEDGMENTS
PROFILE OF RESPONDENTS
24 01
