Insight & Analysis

Press release: ASEAN is expected to see a surge in Chinese investment over the next decade, says new white paper by TMF Group and Singapore Economic Development Board

Published: May 2019

28th May 2019 – TMF Group, a leading provider of high value business services to clients operating and investing globally, has launched a paper today based on interviews and contributions from senior executives of TMF Group and Singapore Economic Development Board (EDB). This paper – China Outbound Investment: Accessing the ASEAN opportunity through Singapore, highlights the importance of the Association of Southeast Asian Nations (ASEAN) for Chinese companies and outlines how to tap into its vast potential via Singapore.

For Chinese companies seeking to build their presence in ASEAN and develop regional expansion strategies, Singapore will play a pivotal role as a regional gateway and base from which to transact and trade with trust and confidence, particularly in high value-added sectors such as advanced manufacturing, technology and healthcare/pharmaceuticals.

Goh Pei Sheng, Regional Vice President in EDB, said, “Singapore’s pro-business policies, connectivity within Southeast Asia, combined with a highly skilled workforce and cutting-edge infrastructure, give it a strong competitive advantage. Being one of Asia’s financial hubs, it is easy to access credit while start-up costs and taxes are low. According to World Bank rankings in 2018, Singapore is the second easiest place to do business.”

Thun Lee, Head of China in TMF Group, said, “A regional strategy is essential for long-term success in the region, given the varying levels of development and infrastructure, and vastly disparate and complex regulatory regimes among ASEAN member nations. Therefore, support from a local partner with in-depth knowledge of and an on-the-ground presence across the region is critical to navigate sensitive cultural issues and rapidly evolving business environments.”

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