As ASEAN Pursues Closer Integration, CFOs in Asia Are Increasingly Bullish on ASEAN Market Prospects
London, UK (PRWEB UK) 26 July 2013 -- A survey by U.S.-based investment institute Bank of America Merrill Lynch (8 July) of over 600 top CFOs throughout Asia reveals that levels of confidence in the Southeast Asian economies are, surprisingly, far higher than current confidence in China and the United States.
In a relatively flat world economy, international companies and investors are showing increasing interest in the economic potential of ASEAN. Dr Lim Hong Hin, Deputy Secretary-General of ASEAN, said at a recent conference in London: “Progress towards greater trade, social and political integration is likely to create even larger commercial opportunities in the region.”
David Clive Price, who has advised European and U.S. businesses on entering Asian markets for 25 years, adds, “The cultural diversity of these markets is one reason for their strength. Without targeted leadership and a clear focus on intercultural communication, it is impossible to succeed in markets such as Singapore, Indonesia, Thailand, the Philippines, Vietnam, Malaysia, Myanmar, Laos and Cambodia.”
His view is that the findings of the survey, with 90 per cent of Indonesian CFOs, 86 per cent of Thai CFOs and 81 per cent of Filipino CFOs expecting higher revenues in 2013, can only be fully leveraged by international companies taking their cross-cultural leadership skills to the next level.
“Investors and corporations would do well to study the ASEAN markets individually and prepare themselves fully for participation in their unique business environments,” concluded Price.
About David Clive Price
With 25 years' experience of Asia business, David Clive Price (http://davidcliveprice.com) in his keynotes, masterclasses and seminars helps European and U.S. companies grow their revenue and increase profitability. His International Business Passport™ programmes combine advanced expertise on the psychology of what drives consumer behaviour and the importance of intercultural skills when expanding into international markets.
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David Clive Price
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Location: London, UK
http://www.davidcliveprice.com
Download the introduction to ‘The Master Key to Asia’, the book one senior management consultant on Asia calls, “The Bible of Asian Cross-Cultural Communication.”
David Price, David Clive Price, http://www.davidcliveprice.com, 07766335805, [email protected]
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