Poll: 4 in 5 businesses eyeing Asean expansion

Workers unloading bags of rice at Tanjung Priok port in Jakarta. Indonesia is the top choice for businesses looking to expand into Asean as it accounts for about 40 per cent of Asean's gross domestic product and has strong growth potential, said econ
Workers unloading bags of rice at Tanjung Priok port in Jakarta. Indonesia is the top choice for businesses looking to expand into Asean as it accounts for about 40 per cent of Asean's gross domestic product and has strong growth potential, said economist Edward Lee.PHOTO: REUTERS
Workers unloading bags of rice at Tanjung Priok port in Jakarta. Indonesia is the top choice for businesses looking to expand into Asean as it accounts for about 40 per cent of Asean's gross domestic product and has strong growth potential, said econ
Workers unloading bags of rice at Tanjung Priok port in Jakarta. Indonesia is the top choice for businesses looking to expand into Asean as it accounts for about 40 per cent of Asean's gross domestic product and has strong growth potential, said economist Edward Lee (above).

Growing domestic demand, client requests cited as factors; Indonesia is top destination

Four out of five businesses surveyed recently have plans to expand into Asean in the next three to five years, with Indonesia being the top destination.

Their expansion plans are motivated mainly by the growing domestic demand of the regional countries and requests from their customers, according to an online survey by The Business Times and Standard Chartered Bank.

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A version of this article appeared in the print edition of The Straits Times on May 22, 2018, with the headline 'Poll: 4 in 5 businesses eyeing Asean expansion'. Print Edition | Subscribe