Each year AmCham Singapore works together with
other AmChams in the region to survey senior members from U.S.
companies to gather insights about business conditions and sentiment in
Asia Pacific. These findings are then presented in intimate discussions
with the Singapore government and U.S. government. This is a key pillar
of our advocacy work.
In
2011, AmCham Singapore collaborated The American Chamber of Commerce in
Singapore (AmCham Singapore) in collaboration with The American
Cambodian Business Council, The American Chamber of Commerce in
Indonesia, The American Malaysian Chamber of Commerce, The American
Chamber of Commerce of the Philippines, The American Chamber of
Commerce in Thailand, The American Chamber of Commerce in Vietnam
(Hanoi), and The American Chamber of Commerce in Vietnam (Ho Chi Minh).
“The
ASEAN Business Outlook Survey is a key pillar of the advocacy work of
AmChams in ASEAN. While U.S. businesses generally continue to favorably
view the business outlook in ASEAN, the ASEAN Business Outlook Survey
did find that rising costs and corruption are some factors to watch out
for. In a time of economic uncertainty, we hope that our survey will
help shed light on the strengths, and concerns of doing business,” said
Simon Kahn, Chairman of AmCham Singapore.
The
ASEAN Business Outlook survey, which is now in its 10th year, seeks to
understand the outlook on business growth and perceptions of doing
business in ASEAN. 327 senior executives from U.S. companies in
Cambodia, Indonesia, Malaysia, Singapore, The Philippines, Thailand,
and Vietnam were surveyed.
Singapore
Respondents enjoy the stable government and political system (89%) and
laws and regulations (84%). However, satisfaction ratings have
experienced a slight decline since last year, and dissatisfaction with
the availability of low cost labor (40%) and office lease costs (58%)
have increased. Housing costs continue to have the highest level of
dissatisfaction at 77%. 94% of respondents expect the housing costs to
rise in the next year, and 91% expect the same for living costs.
Companies in Singapore also recorded the highest ever rate for
expanding ASEAN operations, with 86% of them expecting to do so. Click
here to read the Singapore
report.
Cambodia
Respondents in Cambodia cite its major strengths
as a stable government and political system, as well as positive
sentiments towards the U.S., and a high level of personal security.
Corruption is a leading concern, with 88% of respondents expressing
dissatisfaction toward it. Click here to read the Cambodia
report.
Indonesia
Indonesia’s strengths lie in its low cost business environment.
Respondents enjoy low cost labor as well as low housing and office
lease costs. However, there are also major concerns with corruption,
laws and regulations, and infrastructure. Indonesia was the most
popular destination for U.S. companies to expand in, with 29% of
respondents reporting that their company was planning to expand there.
Click here to read theIndonesia
report.
Malaysia
In 2011, Malaysia improved in a number of local business factors, such
as the availability of raw materials and low cost labor. However, new
concerns have appeared, including the lack of availability of trained
personnel and problems with laws and regulation. Corruption, a
long-standing issue, has greatly improved, with only 35%
dissatisfaction this year compared to 63% in 2010. Click here to read
the Malaysia
report.
The
Philippines
The business climate of the Philippines has gotten tougher this year,
with three quarters of respondents expect that living costs will
increase, and 85% predicting that the same will occur with housing
costs. Corruption and concerns about the infrastructure continue to be
issues to businesses in the Philippines, and this year, laws and
regulations were also cited as a concern. Click here to read The
Philippines report.
Thailand
Respondents enjoy a good level of personal security, adequate
infrastructure, and reasonable housing and office lease costs. However,
there are concerns about the stability of the government and political
system of Thailand, and corruption. These factors could have a negative
effect on doing business in the country. Nonetheless, companies
continue to expand in Thailand, and respondents report that 98% of
expatriate employees are satisfied with their
assignments. Click here to read the Thailand
report.
Vietnam
Vietnam’s major strengths are its stable political environment, high
degree of personal security, and a stable government and political
system. However, the respondents noted several concerns with Vietnam,
involving its infrastructure, corruption in the government, as well as
housing and living costs. Companies are satisfied with the availability
of low cost labor, but are concerned with the availability of skilled
personnel. Vietnam was also the second most popular location
of U.S. investment, with 25% of respondents saying their companies
planning to expand in Vietnam. Click here to read the Vietnam
report.
This
survey was sponsored by:
Citi
Citi, the leading global financial services
company, has approximately 200 million customer accounts and does
business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad
range of financial products and services, including consumer banking
and credit, corporate and investment banking, securities brokerage,
transaction services, and wealth management. In Asia, the Citi
franchise spans 19 countries and has a history of more than a century.
In 2011, Citi was awarded “Best Bank in Asia” and “Best Bank in
Singapore” by Euromoney, and “Best Bank in Singapore” by Finance Asia
for the 15th straight year. Additional information on Citi may be found
at www.citigroup.com.
Control Risks
Control Risks is a global risk consultancy
specialising in political, security and integrity risk. The company
enables its clients to understand and manage
the risks of operating in complex or hostile
environments. Through a unique combination of services, wide
geographical reach and by adopting a close partnership approach with
clients, Control Risks helps organisations
effectively solve their problems and realise new opportunities across
the world. www.control-risks.com.
For media queries, please
contact:
Liyana Othman
Corporate Communications Manager
AmCham Singapore
E-mail: lothman@amcham.org.sg
