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 3.2%.

Cambodia has a population of 15.3 million and its currency is the Riel.

Bangkok Bank

Our branch in Phnom Penh offers a full range of banking services, backed by local expertise and knowledge.

Opportunities

Cambodia’s economy has been growing steadily at around 7.1% for several years and strong growth is expected for the foreseeable future. Sectors with the greatest potential include construction, tourism, real estate and garment manufacturing, as well as agribusiness, given the country’s need to process the huge amount of rice it grows.

Since the government is keen to boost domestic demand, the country has great potential as a consumer market. Infrastructure is improving all the time, as has connectivity with Thailand. There have also been great strides in areas such as maternal health, early childhood care and primary education programs in rural areas – all of which bodes well for the country’s long-term investment potential.

Challenges

As an investor in Cambodia, be prepared to invest in training to boost the skill levels of the work force. The recent introduction of a new minimum wage in the sizable garment manufacturing sector has further highlighted the need to improve labor productivity, which has been falling over the past several years.

Tips for investing and doing business

Cambodia’s government actively encourages foreign investment, with no limits on shareholding or capital controls, or fund transfers out of the country. Income taxes are low and there are import and export tax exemptions. In addition, investors can enjoy 100% ownership of their Cambodian companies. We can help investors make the most of these opportunities.

To find out more about these exciting opportunities, please contact:

Miss Yiamsri Ubonpong, Branch Manager, Cambodia Branch

Tel: (855) 23 224 404-9

E-mail: bblcambodia@bangkokbank.com

Note: Information up-to-date as of October 2017

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 5.3% p.a. with GDP per capita of USD 3,492 and annual inflation at 3.7%.

With a population of 251 million, Indonesia is Thailand’s 6th-largest trading partner. Its currency is the Rupiah.

Already the AEC’s largest economy, Indonesia has great growth potential with abundant natural resources, a youthful workforce and a vast potential consumer market.

Bangkok Bank

In 2020 Bangkok Bank completed the acquisition of PermataBank, a leading commercial bank and a pioneer in digital banking and payment technology in Indonesia. Following the acquisition, we integrated our Bangkok Bank Indonesia branches into PermataBank, making it one of Indonesia’s top 10 largest banks. Through PermataBank we have a network of more than 250 branches across Indonesia, providing a wide range of banking products and services.

Opportunities

Indonesia is blessed with an abundance of fertile land, which offers many agribusiness opportunities for foreign investors with the right expertise and experience. These include growing and downstream processing of coconut, palm oil and rubber. Major manufacturing industries include food and beverages, machinery and transportation, chemicals and textiles.

Indonesia has the biggest population in the AEC of around 250 million, and a large and rapidly-growing consumer market that promises attractive returns to investors who do their market research before entering – for example, Indonesians have a particular liking for Thai snacks and drinks.

The government of President Joko Widodo, sworn into office on October 20, 2014, has introduced a range of pro-business policies to stimulate the economy and make it easier for foreigners to invest, while encouraging micro-finance and grassroots development with lower interest rates.

Challenges

Indonesia’s complex system of laws and regulations can be challenging for foreign investors seeking the most effective way to do business. For example, there are no freehold land rights for foreign investors, there are many regulations involving tax, and there are strict requirements regarding employment of local labor.

Tips for investing and doing business

Although English is preferred for doing business, the local language Bahasa is relatively easy to learn and foreign investors who take the trouble to do so will benefit in their dealings with local counterparts.

Foreign companies should take the time to develop trust and strong relationships with local partners before business negotiations begin.

To find out more about these exciting opportunities, please contact:

Mr. Nithapong Senavongse, General Manager, Jakarta Branch

Tel: (62) 21 231 1008

Email: bbl.jk@bangkokbank.com

Note: Information up-to-date as of October 2017

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% p.a. The country’s GDP per capita is USD 1,760 and its annual inflation rate is estimated at 1.5%.

Lao PDR has a population of 6.9 million and its currency is the Kip.

Bangkok Bank

We entered Lao PDR in 1993 and today have branches in Vientiane and Pakse. Our Pakse branch’s strategic location allows it to connect businesses from southern Lao PDR to Cambodia and Thailand’s northeast.

Opportunities

Lao PDR’s determination to build new transport infrastructure, allied to its limited productive capacity, means it needs to import most of its building materials. One of the biggest projects over the next few years will be the construction of the joint Laos-China railway which will connect China, Lao PDR and Thailand at a cost of over 200 billion baht. Although the railway is being built by Chinese companies, there are still abundant opportunities for Thai companies both in terms of supplying materials and as subcontractors.

Lao PDR has a growing market for consumer goods, but aside from basic foodstuffs most products are imported, especially from Thailand. The local garment industry has excellent potential with relatively low wages, a young population, new infrastructure and favorable trade agreements. Agriculture is another sector rich with potential, particularly for suppliers of agricultural equipment.

Challenges

The market is small with only 800,000 of the total population of approximately 7 million living in cities, while Laotians with money travel frequently to Thailand to do their shopping. There are many restrictive laws and regulations – e.g. trading has to be done through local intermediaries rather than directly with the consumer as foreigners are only allowed to operate in the wholesale sector, not retail. There are also restrictions on doing business in currencies other than the local Kip.

Tips for investing and doing business

It’s crucial to know exactly what you can and can’t do in Lao PDR – this means being very familiar with local laws and regulations, and ideally working with an experienced, local partner.

To find out more about these exciting opportunities, please contact:

Ms. Chadaphorn Uratchat, Branch Manager, Vientiane Branch

Tel: (856) 21 213 560, (856) 21 213 562, (856) 21 250 473

Email: bblvtb@bangkokbank.com

Note: Information up-to-date as of October 2017

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 5.4% p.a. and annual inflation at 2.7%.

With a population of 30.3 million, Malaysia is Thailand’s 4th-largest trading partner. Its currency is the Ringgit.

Malaysia is one of the most vibrant economies in the AEC. Richly endowed with natural resources, it has strong manufacturing and services sectors and is a middle-income country with well-developed transport, telecommunications and financial systems.

Bangkok Bank

We opened our first Malaysia branch in 1959 and in 1994 obtained commercial registration for Bangkok Bank Berhad, a wholly–owned subsidiary with five branches: Kuala Lumpur, Jalan Bakri, Taman Molek, Penang Auto-City and Bandar Botanic Klang.

Opportunities

Malaysia is a major producer of energy and agricultural products such as oil and gas, palm oil and rubber. After oil and commodity prices fell sharply in 2015 the national currency, the Ringgit, depreciated. Despite this external shock, the economy has proved resilient and the fall in the currency means local assets, including real estate, are now cheaper for foreign investors. Malaysia will also be a beneficiary of economic integration and better connectivity under the AEC, with more skilled workers and investment likely to be attracted. A high-speed rail service is planned which will link Kuala Lumpur with Singapore. The trip will take only 90 minutes so it will be possible to commute between the two, benefiting from Singapore’s commercial strength while enjoying the space and lower cost of living in Kuala Lumpur.

Challenges

Malaysia has three major ethnic groups – Malay, Chinese and Indian – and each has its own distinctive religion, customs and political affiliation which can affect their approach to business.

Tips for investing and doing business

Learn about the local culture, be aware of the background of your business partner, and take these into account. Since commodity prices are now close to the bottom of the cycle it’s a good time to invest in Malaysian assets, especially in the agro-industry sector.

To find out more about these exciting opportunities, please contact:

Mr. Choo Joon Keong, Chief Executive Officer, Bangkok Bank Berhad

Tel: (60) 32 174 6888

Email: bbb@bangkokbank.com

Note: Information up-to-date as of October 2017

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 USD1,203, its economy is growing at 8% p.a. with annual inflation at 7.5%.

Myanmar has a population of 51.4 million and its currency is the Kyat.

Bangkok Bank

We have been operating in Myanmar for 20 years. In June 2015 we became the only Thai bank with a branch in Myanmar and, at that time, one of only 13 banks worldwide with a foreign banking license. We know the country well and have developed a solid network of contacts and knowledge of local conditions. Our investment advisory service helps customers who would like to register their companies in Myanmar and do business there.

Opportunities

Myanmar enjoys abundant natural resources, a strategic location at the crossroads of Asia, and a large, youthful population. Major infrastructure spending on roads, bridges, airports and seaports is fueling the construction sector while manufacturing industries such as garments, footwear and seafood processing are in line to benefit from the expected relaxation of US investment restrictions.

Challenges

After decades of neglect, basic infrastructure is lacking, which poses particular challenges for energy-intensive manufacturing industries. Electricity and land prices are high, internet access is limited, and low skill levels and expertise mean investors must have a solid training setup.

Tips for investing and doing business

Investors must spend time and resources doing their homework – studying the drivers of supply and demand, other players in the market, and regulations that will affect their operations. They also need to analyze the nature of similar projects they may have worked on and decide what will translate well to Myanmar.

To find out more about these exciting opportunities, please contact:

Mr. Kanet Buranasin, Branch Manager, Yangon Branch

Tel: (95) 1 572 957, (95) 1 579 282, (95) 1 569 631, (95) 1 572 856

Email: bbl.ygb@bangkokbank.com

Note: Information up-to-date as of October 2017

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 6.7% p.a. with GDP per capita of USD 2,870 and annual inflation at 3.5%.

The Philippines has a population of 99.4 million and its currency is the Peso.

The Philippines is one of the fastest-growing economies in ASEAN with a growth rate of around 6% p.a.

Bangkok Bank

We are the only Thai bank with a branch in Manila, opened in 1995, and provide commercial banking services to corporate customers and in-depth advice on customers’ financial needs.

Opportunities

With a population of close to 100 million, the Philippines is the second-most populous country in the AEC. English is one of the official languages and the people are highly educated and literate. The economy is dominated by the services sector and the Philippines is seen as the business process outsourcing (BPO) capital of the world. Various privatization and liberalization initiatives are underway so there are opportunities in areas such as logistics, energy and IT. In addition, Thailand has many synergies with the Philippines in sectors such as food processing, agro and aqua-industry, and hotel management.

Challenges

The Philippines has well-established rules and regulations but doing business can be a slow process – the World Bank ranked the country only 103rd out of 189 economies for ease of doing business in 2015. New entrants to the market need to be sure they have all legal necessities in place well before they start.

Tips for investing and doing business

Personal relations are very important in business and in order to developing strong relationships foreign investors should always show respect to business partners.

To find out more about these exciting opportunities, please contact:

Ms. Nattika Kanpawong, Branch Manager, Manila Branch

Tel: (632) 7752 0333

Email: manila.cs@bangkokbank.com

Note: Information up-to-date as of October 2017

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 2.7% p.a. with annual inflation at 1.5%.

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

Singapore is a magnet for international investment. It is a global financial center right in the heart of Southeast Asia and one of the most open, competitive and pro-business economies in the world.

Bangkok Bank

Our Singapore branch opened in 1957 and today is an important regional hub serving clients from Singapore and across the world.

Opportunities

Singapore is one of the busiest ports in the world with a higher trade-to-GDP ratio than any other economy. This creates many opportunities across a broad range of areas including shipping, logistics, finance, legal and related services.

Singapore’s favorable geographical position, attractive tax regime, investment incentives, stable political environment, transparent legal framework, sophisticated financial system and skilled labor force make it an ideal regional base. Already there are thousands of multinational companies based in the city state, with many using it as an entry point for Asia. Thanks to its open business environment and competitive advantages Singapore is a leading global financial center and has particular strengths in areas such as commodity and foreign-exchange trading, offshore renminbi trading and wealth management.

Challenges

Singapore is highly dependent on the global economy and so is vulnerable to external shocks. The open nature of its economy means it is highly competitive and this can squeeze profit margins. Business costs can be high, especially for office rentals and labor.

Tips for investing and doing business

The Singapore business culture is a mix of modern Western practices and traditional Eastern values. As with other Asian countries, relationships and status are very important. English is the main language for doing business. People are very practical and like to move quickly once an agreement has been reached.

Singapore people are highly entrepreneurial and cosmopolitan and very interested in expanding overseas. This means they can be excellent partners for companies investing in other parts of Asia.

To find out more about these exciting opportunities, please contact:

Mr. Art Medhapipatkul, General Manager, Singapore Branch

Tel: (65) 6410 0400

Email: customersvc.SG@bangkokbank.com

Note: Information up-to-date as of October 2017

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 6.5% with GDP per capita of USD 2,052 and annual inflation at 5.5%.

With a population of 90.6 million, Vietnam is Thailand’s 7th-largest trading partner. Its currency is the Dong.

Bangkok Bank

We started full commercial banking operations in Vietnam in 1992 – the first foreign bank to do so after the end of the Vietnam War – and today have two branches in the country, in Ho Chi Minh City and Hanoi. We pride ourselves on offering ‘one-stop financial services’ for Thais investing in Vietnam.

Opportunities

Vietnam’s population of approximately 90 million is the 3rd-largest in the AEC, and its consumer market is growing rapidly as incomes rise. Middle-income earners currently number 7-8 million but this figure is expected to reach 20-30 million within the next 5-6 years. The potential is especially high for businesses aimed at younger consumers since more than 60% of Vietnamese are under 30.

Sectors with the greatest potential include garment manufacturing, retail and distribution.

Challenges

Competition is intense in Vietnam and it can be difficult for new entrants to become established.

Vietnam’s regulations change very quickly so businesses need to be nimble. Skilled workers can demand relatively high wages and are in short supply, while good middle-managers are hard to find.

Tips for investing and doing business

There are no shortcuts in Vietnam and success takes time, so investors need to be prepared to properly manage risks in the initial stages.

Forming joint ventures with Vietnamese partners do not always ensure success, so often it’s better to do it yourself, getting hands-on experience and working directly with customers.

People in the north think differently from people in the south, and making the right kinds of connections is crucial.

To find out more about these exciting opportunities, please contact:

Mr. Tharabodee Serng-Adichaiwit, General Manager - Vietnam Branch, Branch Manager - Ho Chi Minh City Branch

Tel: (84) 28 3821 4396-8

E-mail: bblhcm@bangkokbank.com

Note: Information up-to-date as of October 2017