World

Malaysia favoured expansion destination for ASEAN: StanChart

Malaysia is a favoured expansion destination for ASEAN companies looking for growth opportunities in the 10-nation bloc, according to a survey by Standard Chartered (StanChart).
Malaysia favoured expansion destination for ASEAN: StanChart ảnh 1A bird's-eye view of Kuala Lumpur July 8, 2020. (Photo: malaymail.com)
Kuala Lumpur (VNA) - Malaysia is a favoured expansiondestination for ASEAN companies looking for growth opportunities in the10-nation bloc, according to a survey by Standard Chartered (StanChart).

Forty-nine percent of survey respondents selected Malaysia as one of the countries offeringthe best expansion opportunities in ASEAN over the next 12 months, StanChartsaid, based on its "Borderless Business: Intra-ASEAN Corridor"report.

Thereport also cites automotive, health care and digital services as key growthsectors of Malaysia. The country has started making headway in developingcapabilities to spur growth both in the electrical vehicles segment and datacentre supply.

“Malaysia is also seen as a leading medical device manufacturing hub anda regional market leader in medical tourism,” it added.

According to thesurvey, access to the large and growing ASEAN consumer market and theglobal market enabled by a network of free trade agreements and availability of abundant and skilled workforce are the most important drivers ofexpansion across the region.

Overall, the survey found that the majority of ASEANcompanies that focus on intra-regional opportunities expect strong businessgrowth in the region over the next 12 months, with 99 percent of respondents expectingproduction growth and 96 percent forecasting revenue growth./.
VNA
#Malaysia #Standard Chartered #ASEAN #favoured expansion destination #vietnam news agency #vietnamplus Malaysia
Follow VietnamPlus

Related News

Malaysia to lower 2021 growth projection

Malaysia to lower 2021 growth projection

Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, the country’s Finance Minister Tengku Zafrul Abdul Aziz.

See more

Indonesian Muslims gather at Istiqlah Mosque ahead of the prayer service. (Photo: VNA)

Ramadan begins in Indonesia

Throughout the holy month, Muslims devote time to deep reflection and prayer. They fast from sunrise to sunset, abstaining from food and drink while focusing on good deeds and strengthening their faith.

Illustrative image (Source: VNA)

Malaysia remains top destination for European, US investors

It stated that large international companies such as Intel, Amazon Web Services, Oracle, Google, and Plexus continued to commit to investing or increasing their investments in Malaysia, making the country one of the primary destinations for over 600 US companies.

Thai Prime Minister Paetongtarn Shinawatra (Photo: Xinhua/VNA)

Thai PM pledges to step up economic growth

In her weekly Empowering Thais programme on March 2 morning, Thai Prime Minister Paetongtarn Shinawatra said the Southeast Asian country's gross domestic product (GDP) grew by only 2.5% last year because it had not invested substantially in new industries and had not prepared the people for future industries over the past decade.

Malaysian Digital Minister Gobind Singh Deo speaks during the Public Sector Artificial Intelligence Adaptation Guidelines’ launching ceremony in Kuala Lumpur, on February 27. (Photo: selangorjournal.my)

Malaysia launches AI adaptation guidelines for public sector

The 158-page guidelines provide an overview of AI, ethical principles, roles and responsibilities of stakeholders, risk management, adaptation methods, and self-assessment templates to help identify the scope and impact of AI within the public sector.

Illustrative image (Photo: Internet)

Thai rice faces mounting competition, high costs

President of the Thai Rice Exporters AssociatioCharoen Laothammatas predicted that the figure will reach 7.5 million tonnes this year, a 24.2% drop from last year’s 9.94 million tonmes.

Singapore guardsmen complete an obstacle course during exercise Valiant Mark with U.S. Marine Rotational Force-Southeast Asia in Singapore in December 2024. (Photo: SGT. SHAINA JUPITER/U.S. MARINE CORPS)

Singapore army invests in uncrewed systems to address manpower shortages

The declining number of service members as the “greatest internal challenge” facing the Singapore Armed Forces (SAF). To tackle this, Singapore is increasing automation and assigning conscripts and national reservists, known as “NSmen,” to roles aligned with their civilian expertise to boost efficiency and effectiveness.

Indonesia to use its benchmark coal price for transactions from March 1 (Photo: Theinvestsor)

Indonesia to adjust coal price policy

Vietnam, a key importer of Indonesian coal, imported 2.49 billion USD worth in 2024. Coal remains Vietnam’s largest import from Indonesia, contributing significantly to the 4.34 billion USD in total imports from the country

Cambodian Prime Minister Samdech Thipadei Hun Manet (Photo: VNA)

Vietnam attends Islam-Buddhism Summit in Cambodia

Vietnamese Ambassador to Cambodia Nguyen Minh Vu participated in the Islam-Buddhism Summit in Phnom Penh on February 27. The event focused on sharing experience in fostering peaceful religious coexistence, cooperation, and harmony in the region and the world.