Destination Southeast Asia

SGGP 07/04/2023 06:26

According to data from the Indonesian Immigration Bureau, from February 14 to May 2023, about 5,000 investors from major cities in China flew to Indonesia. Three years after the Covid-19 pandemic broke out, the Southeast Asian destination continues to be bustling.

In the summer of 2021, the topic of Vietnam as the “next world factory” was hotly discussed. In addition to Vietnam, Singapore has also become a popular destination in Southeast Asia. This region has always been considered one of the most potential markets in the world. The Southeast Asia Digital Economy Report 2020 jointly published by Google, Temasek Holdings and Bain & Company shows that: In 2020, the total value of goods in the Southeast Asian digital economy exceeded 100 billion USD, along with the popularization and upgrading of digital applications, this number is expected to exceed 300 billion USD by 2025. The rate of internet development in Southeast Asia is constantly increasing. Accordingly, the number of internet users in the six Southeast Asian countries will increase from 20 million to 460 million by 2022, and the overall internet penetration rate will be as high as 76%, much higher than the world average of 59.5%. Expanding business to Southeast Asia has become one of the growth strategies of many Chinese companies.

According to statistics from Singapore-based investment bank BridgeSEA Capital, the number of venture capital deals in Southeast Asia exceeded 650 in 2022 with a total turnover of nearly 10 billion USD. The annual investment turnover is about 18.39 million USD, showing an upward trend. Among the investments in Southeast Asia, Singapore and Indonesia together account for about 70% of the venture capital market share.

The Southeast Asian market includes Singapore, Indonesia, the Philippines, Malaysia, Vietnam, Laos, Cambodia, Thailand... with a population of about 800 million people and an average age of 27. Therefore, this region is always considered one of the most potential markets in the world. Observers say that with Southeast Asia, the task of businesses wanting to conquer this potential and fertile market is to choose which first stop when expanding their business operations? Just answering this question, the possibility of success of the business is not small.

Source: https://www.sggp.org.vn/dich-den-dong-nam-a-post696025.html