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Wednesday, June 07, 2006
US firms bullish on SEA’s future
SINGAPORE - US firms remain upbeat on Southeast Asia’s economic prospects and expect their operations to expand as the region becomes more important as a revenue generator, the American Chamber of Commerce (Amcham) said yesterday.
Eighty percent of US firms with Southeast Asian operations expect to grow their regional operations and 62 percent see the region as increasingly important to company revenues over the next two years, AmCham said in a report.
“The region holds enormous potential and local economic recovery, improvements in infrastructure and limited opportunities in other regions, mean businesses will continue to grow and profit here,” said Nicholas de Boursac, executive director of AmCham Singapore.
Corruption in the region, except for Singapore, was still seen as a major issue for US firms with 83 percent saying it was a concern in Indonesia and 77 percent in the Philippines, the report showed.
Corruption
“Other than in Singa-pore, corruption continues to be identified as the major impediment to doing business in the region and is a source of high dissatisfaction for members,” de Boursac said.
“This, in combination with weak laws and regulations, has a significant effect on investment decisions and is a vital competitiveness issue,” he said.
Nearly 280 AmCham members in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam responded to the annual poll carried out between April 27 and May 24.
AmCham members have invested about 50 billion US dollars in the region. (AFP)
For Bisaya stories from Cebu. Click here. (June 7, 2006 issue)
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