AMCHAM (American Chamber of Commerce) Singapore-Malaysia-Vietnam recently held a joint webinar on its release of the 2021 ASEAN Business Outlook Survey (ABOS), with the theme, “ASEAN’s Role in The Asia Pacific”.
Singapore was represented by Monica Chitnis, Research Director at Blackbox Research. The other 2 panelists were Siobhan Das Bachran, CEO, AmCham Malaysia, and Mary Tarnowka, Executive Director, AmCham Vietnam, Ho Chi Minh City and Da Nang. The panel discussion was moderated by Steven Xavier C., Senior Director and Regional Head of Government Relations, Asia-Pacific, PayPal.
The panel discussed the survey findings, along with the wider challenges and opportunities for businesses in the region amidst the COVID-19 pandemic; gradual reopening of the region; economic growth driven by supply chain resilience; and further integration of the ASEAN region.
A notable mention that underscores the confidence from foreign investors in the region is the recent investment made by Intel Corporation with an investment of US $475M in the Intel Products Vietnam (IPV). This new investment is in addition to Intel’s US $1B investment to build a state-of-the-art chip assembly and test manufacturing facility in Saigon Hi-Tech Park (SHTP), first announced in 2006. This takes Intel’s total investment in its Vietnam facility to US $1.5B.
Meanwhile, at the governmental front, Malaysia recently introduces a Business Travellers Centre (BTC) at the Kuala Lumpur International Airport (KLIA). The BTC is one of the key components of the One Stop Centre (OSC) initiative by its goverment to ease the movement of Business Travellers – from entry to exit point. The Centre assumes a vital role in ensuring that the nation remains an attractive investment destination for foreign businesses.
Detailed of the survey report can be read here.