Business Opportunities in AEC

Bangkok Bank has extensive branches in 9 ASEAN countries offering expert advice, support with local business networking, and a thorough understanding of the laws and regulations governing business. Our financial and investment services can support your expansion into the AEC, and help you achieve your milestones.

Let us introduce you to a region of opportunity

Thailand
Thailand’s location at the heart of ASEAN makes it an ideal production and logistical hub for the region. With GDP per capita of USD 5,519, its economy is growing at 2.9% p.a. with annual inflation at 1.9%.

Thailand’s population is 68.7 million and its currency is the Baht. ASEAN accounts for 26% of Thailand’s exports and 22% of its imports.
Myanmar
Myanmar is opening up after years of international isolation and investors are responding. Rich in natural resources with a young labor force and GDP per capita of USD 1,203, its economy is growing at 6.6% p.a. with annual inflation at 5.5%.

Myanmar has a population of 51.4 million and its currency is the Kyat.
Cambodia
Cambodia is emerging as a key investment destination with more than 80% of its production being exported, as well as having a promising consumer market. Its economy is growing at an estimated 7.1% p.a. with GDP per capita of USD 1,090 and annual inflation at 3.9%.

Cambodia has a population of 15.3 million and its currency is the Riel.
Vietnam
Vietnam’s membership of the Trans-Pacific Partnership free-trade agreement adds to its attractiveness as an ASEAN production hub. Its economy is growing at 6.8% with GDP per capita of USD 2,052 and annual inflation at 4.1%.

With a population of 90.6 million, Vietnam is Thailand’s 12th-largest trading partner. Its currency is the Dong.
Lao PDR
Lao PDR is positioning itself as the region’s energy hub with large-scale infrastructure projects helping drive economic growth which is estimated at 7.2% p.a. The country’s GDP per capita is USD 1,760 and its annual inflation rate is estimated at 4.1%.

Lao PDR has a population of 6.9 million and its currency is the Kip.
Indonesia
Indonesia is the largest economy in ASEAN and the 16th-largest in the world, leading in exports of crude palm oil, coal, rubber and cocoa. Its economy is growing at 4.7% p.a. with GDP per capita of USD 3,492 and annual inflation at 6.4%.

With a population of 251 million, Indonesia is Thailand’s 7th-largest trading partner. Its currency is the Rupiah.
Malaysia
Malaysia’s energy exports are its economy’s main driver and the country aims to become the region’s biopharma hub. GDP per capita is USD 10,933, with economic growth of 4.7% p.a. and annual inflation at 3.1%.

With a population of 30.3 million, Malaysia is Thailand’s 5th-largest trading partner. Its currency is the Ringgit.
Philippines
The Philippines is known as the world’s business process outsourcing (BPO) capital, with strong English-language skills and a high literacy rate of 95%. Its economy is growing at 6% p.a. with GDP per capita of USD 2,870 and annual inflation at 4.1%.

The Philippines has a population of 99.4 million and its currency is the Peso.
Singapore
Singapore is a global financial center whose economy is ranked the most open and pro-business in the world, with low tax rates and GDP per capita of USD 56,287. Its economy is growing at 1.9% p.a. with annual inflation at 1%.

With a population of 5.5 million, Singapore is Thailand’s 6th-largest trading partner. Its currency is the Singapore dollar.



Notes:

  • GDP per capita figures and annual inflation rates are for 2014, Source: World Bank
  • Economic growth rates are as at Q3, 2015, apart from Cambodia, Laos and Myanmar, which are expected rates for full-year 2015. Source: Focus Economics
  • Population figures are for 2014. Source: Focus Economics
  • Foreign trade rankings are for 2014 and are based on BOT data.
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