GLOBAL FLORIDA: the ASEAN markets

Transcription

1 1 GLOBAL FLORIDA: the ASEAN markets Antonio Acunzo CEO, MTW Group, Singapore Tallahassee, on Wed 8 Apr 2015

2 2 ASEAN: 10 Economies, 1 Vision, 1 Community charting towards Regional Economic Integration INDONESIA MALAYSIA PHILIPPINES SINGAPORE ASEAN-5 THAILAND BRUNEI CAMBODIA LAOS MYANMAR VIETNAM

3 3 ASEAN: 2013 stats at a snapshot ASEAN Country BRUNEI Population 422,675 Land Area (sq km) 5,765 GDP ppp (US$ billions) GDP per capita ppp (US$) 54,800 GDP real growt h rate 1.4% Indust rial produ ction growth rate 1.5% Trade (US$ millions) 16,856 FDI total net inflow (US$ millions) CAMBODIA 15,458, , , % 9.5% 18,664 1,274.9 INDONESIA 253,609,643 1,904,569 1,285 5, % 4.3% 381,721 18,443.8 LAOS 6,803, , , % 11.0% 6, MALAYSIA 30,073, , , % 5.0% 423,930 12,297.4 MYANMAR 55,746, , , % 11.4% 18,503 2,620.9 PHILIPPINES 107,668, , , % 9.0% 117,382 3,859.8 SINGAPORE 5,567, , % 1.7% 788,117 60,644.9 THAILAND 67,741, , , % -3.1% 477,302 12,999.8 VIETNAM 93,421, , , % 5.0% 227,793 8,900 Total 636,512,723 4,479,621 2,476, ,376.5 (source: CIA World Factbook, ASEAN)

4 4 Middle Class Consumer Spending regions by color inner ring: 2009 outer ring: 2030 USD5.8 trillion USD11.1 trillion EUROPE USD8.1 trillion ASIA-PACIFIC USD32.6 trillion +571% growth NORTH AMERICA (USA & CANADA) USD5.6 trillion USD4.9 trillion top 3 markets: ASEAN Greater China India SUB-SAHARAN AFRICA USD0.6 trillion MIDDLE EAST & NORTH AFRICA USD0.4 trillion USD0.8 trillion USD1.9 trillion USD1.5 trillion USD3.1 trillion CENTRAL & SOUTH AMERICA

5 ASEAN: 12 industries experiencing strong growth in ASEAN markets 5

6 6 Why ASEAN? 10 good reasons to consider ASEAN for market-entry projects RAPID GROWTH HAS TURNED ASIA INTO A GLOBAL ECONOMIC POWERHOUSE HIGH POTENTIAL FOR GROWTH FOR 12 BUSINESS AND MANUFACTURING INDUSTRIES 10 NEW MARKETS IN ASIA FOR DEVELOPING NEW BUSINESS LIMITED GROWTH OPPORTUNITIES IN OTHER REGIONS AND MARKETS BUSINESS & TAX INCENTIVES OFFERED BY LOCAL ASEAN GOVERNMENTS STABLE GOVERNMENTS AND POLITICAL SYSTEMS DEVELOPING NEW MARKETS AND/OR INCREASING MARKET SHARE REASONABLE PRODUCTION COSTS AND AVAILABILITY OF RAW MATERIALS AVAILABILITY OF TRAINED PERSONNEL AND EFFICIENT MANPOWER POSITIVE SENTIMENT TOWARDS THE WEST, THE USA AND EUROPE

7 7 ASEAN: Markets for Major Business Expansion TOP 3 MARKETS FOR MAJOR BUSINESS EXPANSION INDONESIA MALAYSIA VIETNAM STRATEGIC BUSINESS HUB SINGAPORE WITH A POTENTIAL FOR GROWTH ONCE SANCTIONS ARE LIFTED MYANMAR

8 8 SINGAPORE: strategic business hub for developing new business in the ASEAN, Greater China, and Asia-Pacific regions SINGAPORE SINGAPORE BEST COUNTRY IN THE WORLD FOR DOING BUSINESS ONLY ASIAN COUNTRY TO HAVE AAA CREDIT RATING 100% BUSINESS FRIENDLY

9 9 Why SINGAPORE? 12 good reasons to consider Singapore #1 BEST COUNTRY IN THE WORLD TO DO BUSINESS, ACCORDING TO 2014 WORLD BANK EASE OF DOING BUSINESS INDEX #3 IN THE WORLD COMPETITIVENESS SCOREBOARD 2014 (#1 USA and #2 Switzerland) AAA CREDIT RATING: ONLY ASIAN COUNTRY TO HAVE AAA CREDIT RATING FROM STANDARD & POOR S, MOODY S, AND FITCH STRATEGIC BUSINESS HUB IN ASIA, AND GLOBAL HOME BASE TO ASIAN MARKETS SAME TIME ZONE (GMT +8) AS HONG KONG & CHINA BUSINESS FRIENDLY: 100% FOREIGN CORPORATE SHAREHOLDING IS ALLOWED BUSINESS FRIENDLY: FULL TAX EXEMPTION FOR NEWLY INCORPORATED COMPANIES BUSINESS FRIENDLY: BUREAUCRACY-FREE & CORRUPTION-FREE ENVIRONMENT 8 GLOBAL BUSINESSES TO ESTABLISH THEIR ASIA HEADQUARTERS IN SINGAPORE MULTICULTURAL SOCIETY WITH ENGLISH AS MAIN BUSINESS LANGUAGE 20 EFFECTIVE FREE TRADE AGREEMENTS ONE OF THE HIGHEST LIVING STANDARDS IN THE WORLD INTERNATIONAL LIFESTYLE & BEST QUALITY OF LIFE FOR EXPATS

10 10 SINGAPORE: 20 effective FTAs Free Trade Agreements ASEAN Free Trade Area ASEAN-Australia-New Zealand ASEAN-China ASEAN-India ASEAN-Japan ASEAN-South Korea Singapore-Australia Singapore-China Singapore-Costa Rica Singapore-GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, UAE) Singapore-Jordan Singapore-India Singapore-Japan Singapore-South Korea Singapore-New Zealand Singapore-Panama Singapore-Peru Singapore-Switzerland, Liechtenstein, Norway & Iceland Singapore-USA Transpacific SEP (Singapore, Brunei, New Zealand & Chile) SINGAPORE

11 SINGAPORE: ZERO TAX for the first 3 years for new start-up companies registered in Singapore 11

12 12 SINGAPORE: Corporate Tax Start-Up Tax Exemption NEW START-UP COMPANIES ARE ELIGIBLE FOR THE SUTE, THE START-UP TAX EXEMPTION SCHEME, WHICH ALLOWS ZERO TAX FOR THE FIRST 3 YEARS, providing Start-Up company meets the qualifying conditions of being incorporated in Singapore, being a tax resident in Singapore, and having no more than 20 shareholders. (note: property and investment holdings are not eligible for SUTE) Singapore corporate tax rate is set at 17%, and after rebates and tax exemptions are calculated, Singapore offers one of the lowest effective corporate income tax in the world. SINGAPORE START-UP TAX EXEMPTION (SUTE) SCHEME TAX RATE FIRST 3 YEARS NO TAX 8.5% 17% UP TO S$100,000 FROM S$100,001 TO S$300,000 TAXABLE INCOME ABOVE S$300,001 SINGAPORE

13 13 HONG KONG & CHINA: Corporate Tax HONG KONG HONG KONG CORPORATE TAX TAXABLE INCOME 16.5% ANY AMOUNT ABOVE HK$1 FROM YEAR 1 ONWARD HONG KONG CHINA CHINA CORPORATE TAX TAXABLE INCOME 25% ANY AMOUNT ABOVE RMB1 FROM YEAR 1 ONWARD CHINA

14 14 SINGAPORE: The Advantages of Incorporating Your Company in Singapore A PTE. LTD IS CONSIDERED A TAX RESIDENT AND ELIGIBLE FOR TAX EXEMPTIONS ENJOYS HIGHLY COMPETITIVE AND EFFECTIVE CORPORATE TAX RATE SUITABLE FOR A BUSINESS THAT HAS SUBSTANTIAL GROWTH PLAN AND DEVELOPMENT 100% FOREIGN CORPORATE SHAREHOLDING IS ALLOWED NUMBER OF SHAREHOLDERS CANNOT EXCEED 20 TO ENJOY TAX EXEMPTION NO AUTHORISED PAID-UP CAPITAL REQUIRED: MINIMUM PAID-UP CAPITAL OF S$1 COMPANY MUST HAVE A SINGAPORE RESIDENT OR EP HOLDER AS A LOCAL DIRECTOR START-UP EXEMPTION SCHEME: 0% UP TO S$100,000 TAXABLE INCOME FOR THE FIRST 3 YEARS MAXIMUM 8.5% TAX RATE BETWEEN S$100,001 AND S$300,000 FOR FIRST 3 YEARS LOW FLAT TAX RATE OF 17% ON TAXABLE INCOME OVER S$300,001 SINGAPORE S CORPORATE INCOME TAX RATE (17%) IS THE 3 RD WORLD LOWEST AFTER HONG KONG (16.5%) AND IRELAND (12.5%) ZERO TAX ON CAPITAL GAINS AND DIVIDENDS

15 15 MALAYSIA: Iskandar Malaysia A POWERFUL OPPORTUNITY TO ESTABLISH A STRATEGIC FOOTHOLD IN A FAST GROWING MARKETPLACE. STATE-OF-THE-ART INFRASTRUCTURES, EXCELLENT LOGISTICAL FACILITIES, AND A WORLD-CLASS BUSINESS ENVIRONMENT.

16 16 MALAYSIA: Iskandar Malaysia A. JOHOR BAHRU CITY CENTRE: southern gateway to Malaysia: fiinanciall and cultural centre. B. NUSAJAYA: a key component of the economic drivers and one of the largest property developments in ASEAN along with entertainment, recreation, medical tourism, biotechnology and education activities C. WESTERN GATE DEVELOPMENT: one of the world s major container ports at Tanjung Pelepas, and oil storage terminal D. EASTERN GATE DEVELOPMENT: manufacturing hub E. SENAI-SKUDAI: manufactrunig, hitechnology hub, luxury shopping

17 17 MALAYSIA: Business Opportunities in Iskandar Malaysia 6 SERVICE BUSINESS SECTORS CREATIVE & DESIGN SERVICES HEALTHCARE & WELLNESS LOGISTICS THL (TOURISM, HOSPITALITY & LEISURE) FINANCIAL ADVISORY & CONSULTING EDUCATION 3 MANUFACTURING SECTORS FOOD & AGRO PETROCHEMICAL & OLEOCHEMICAL ELECTRICAL & ELECTRONICS

18 18 ASEAN: Winning in the competitive ASEAN markets 1 a structural understanding of ASEAN markets a) consider and adapt to cultural differences b) relationship before results c) market research and market analysis 1 a modern thinking approach: a) global vision b) regional strategy c) local tactic d) bespoke market-entry strategy per market e) powerful marketing strategy to sustain profitable growth

19 THANK YOU FOR YOUR ATTENTION 19