Tricor Group offers insights on global market expansion focusing ASEAN

KUALA LUMPUR, May 26 (Bernama) -- Following last year’s relatively subdued global economic rebound, the economies of Association of Southeast Asian Nations (ASEAN) are well positioned for growth and foreign direct investment (FDI) in 2022 and beyond, according to Tricor Group’s ASEAN in Focus: Economic Outlook, Insights & Business Opportunities.

It is a compilation of business insights to guide multinational companies (MNCs), SMEs and entrepreneurs interested in establishing, operating and scaling business growth across ASEAN.

Tricor Group CEO, Lennard Yong said: “The passage of the RCEP trade bloc is a defining moment for global trade and a pivotal development that will inevitably redirect FDI flows in the months and years ahead. Notably, the maturing economies of ASEAN serve as a linchpin for activating the deal.

“At Tricor, we are keeping a strong pulse on how this landmark agreement is triggering new global trade trends, bolstering pan-Asian supply chains and expanding opportunities for foreign investors. Tricor’s specialised local expertise and dynamic connections reinforce our status as the ‘go-to’ partner for enterprises seeking to expand throughout ASEAN, APAC and beyond.”

The report offers perspectives, observations and analyses from senior Tricor executives on how global trade trends are impacting trade, investment and global market expansion in the economies of ASEAN.

According to a statement, the report contains a special section on the landmark signing of the Regional Comprehensive Economic Partnership (RCEP).

Connecting 15 countries and covering 30 per cent of the world’s population as part of the largest trading bloc globally, the RCEP is expected to reduce tariffs at between 90 per cent and 93 per cent of cross-border tariff lines.

The report also contains an overview of each ASEAN market, with dedicated sections for business incorporation, tax considerations and the labour environment.

Key highlights from Tricor’s ASEAN in Focus: Economic Outlook, Insights & Business Opportunities include a deep dive into business incorporation, tax considerations and the labour environment for each of the 10 ASEAN economies; and, an exploration of how ASEAN is serving as a growth engine for the investment and expansion strategies of MNCs from mainland China.

Together with Tricor's services and expertise, the guidance provided in the report arms companies with profound insights to further business objectives and take advantage of the latest global trade trends transforming ASEAN, APAC and beyond.

More details at www.tricorglobal.com.

-- BERNAMA