Sectors

Rapid economic development of the ASEAN region

The rapid economic development of the countries in the ASEAN region has led to  substantial economic, structural, and social change in the ASEAN countries. An important feature of the change is the large increase in the general standard of living, and associated with it, the formation of a middle class. This new middle class in the ASEAN region makes up, at least in countries such as Malaysia, Thailand, and Singapore, a significant segment of the population.

Emerging domestic ASEAN technology companies

In the course of this process of change, numerous small and medium-sized domestic technology companies have set up in the ASEAN countries which increasingly shape the economic and social organization of the region. Small and medium-sized technology companies from the ASEAN region can represent a very suitable partner for a comparable Western technology company on the way to entering the ASEAN market.

Government incentive programs for cooperation with ASEAN companies

More recently, cooperation between medium-sized companies from the West and the ASEAN region has been regarded by ASEAN governments as a highly effective way to boost the technological development of their countries. In line with that target, a focus of government incentive programs in the ASEAN region is to promote this form of cooperation.

Especially Thailand and Malaysia offer comprehensive support programs, with an emphasis on:

• Medicine and life sciences
• Renewable energy
• Information technologies
• Automotive supply industry