ASEAN's Bright Future : Promoting ASEAN Business Opportunities in Europe
Mazars in Singapore partnered with United Overseas Bank (UOB) and the international law firm RHTLaw Taylor Wessing to conduct a series of market outreach roadshow events in Europe (France and United Kingdom) on “Doing Business in Southeast Asia” in April 2015.
Mazars in Singapore partnered with United Overseas Bank (UOB) and the international law firmRHTLaw Taylor Wessing to conduct a series of market outreach roadshow events in Europe (France and United Kingdom) on “Doing Business in Southeast Asia” in April 2015. The Singapore delegation held a series of seminars and roundtable discussions in various cities including Paris, Grenoble, Lyon, London, Manchester and Sheffield to promote business opportunities in the region and build business relationships
The distinguished speakers and panellists discussed the vast opportunities for European businesses in the ASEAN region — Singapore, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Laos, Brunei and the Philippines. With the formation of the ASEAN Economic Community (AEC) by the end of 2015, the region will transform into a single market and production base with free movement of goods, services, investment, skilled labour and capital. In 2013, ASEAN had a population of over 600 million and investments into the region already surpassed the flows into China. In 2014, ASEAN was the 7th largest economy in the world and is widely expected to become the 4th largest by 2030 (only behind China, US and India).
The events spanning over a 2-week period were held in collaboration with prominent public and private organisations including Credit Agricole Corporate and Investment Banking and Business France in Paris , Chambre de Commerce et d’industrie de Lyon (CCI Lyon) in Lyon, Santander UK ,UK Trade & Investment (UKTI) and the UK ASEAN Business Council in the United Kingdom. Mazars in France and in the UK were also supportive by co-marketing these events.
Wee Han TAH , a Partner and Head of Consulting in Singapore, was one of the speakers and panellists and shared insight into the key market entry considerations of doing business in ASEAN. The process of establishing an entity, taxation, investment incentives, country quirks and key agencies in the individual ASEAN countries were discussed in order to provide the audience with a greater understanding of the various ASEAN markets and how Mazars can support their market entry into this exciting and fast growing region.
THE ROLE OF MAZARS
With offices located in six key countries in the ASEAN region, Mazars can assist our global clients in successfully navigating their market entry through a wide variety of services which includes audit and assurance, tax , consulting, financial advisory, business incorporation, accounting outsourcing, payroll outsourcing. Communicating and promoting this information was fundamental to the market outreach roadshow events to ensure our name comes to mind when European companies are considering doing business in the ASEAN region.
Mazars in Singapore is a partner to various government agencies, including the Singapore Economic Development Board (EDB) – the lead government agency for planning and executing strategies to enhance Singapore’s position as a global business centre and responsible for facilitating foreign direct investments and driving the growth of key sectors.
The Mazars consulting team in Singapore, which is headed by Wee Han, provides turnkey solutions to companies seeking entry into the ASEAN market and in Singapore itself. Services covered range from pre-market entry planning to post-market entry implementation—from obtaining market insights, developing market entry strategies, identifying business partners (distribution/joint ventures/mergers & acquisitions/franchising) to business set up and ongoing support.
If you have clients interested in tapping on the opportunities into ASEAN region or would like to find out more about what services Mazars in Singapore provide, please feel free to contact our respective partners in our ASEAN offices or Wee Han .