TMF Group, a leading provider of high value business services to clients operating and investing globally, has launched a paper today based on interviews and contributions from senior executives of TMF Group and Singapore Economic Development Board (EDB).
This paper - China Outbound Investment: Accessing the ASEAN opportunity through Singapore, highlights the importance of the Association of Southeast Asian Nations (ASEAN) for Chinese companies and outlines how to tap into its vast potential via Singapore.
For Chinese companies seeking to build their presence in ASEAN and develop regional expansion strategies, Singapore will play a pivotal role as a regional gateway and base from which to transact and trade with trust and confidence, particularly in high value-added sectors such as advanced manufacturing, technology and healthcare/pharmaceuticals.
Goh Pei Sheng, Regional Vice President in EDB, said, "Singapore's pro-business policies, connectivity within Southeast Asia, combined with a highly skilled workforce and cutting-edge infrastructure, give it a strong competitive advantage. Being one of Asia's financial hubs, it is easy to access credit while start-up costs and taxes are low. According to World Bank rankings in 2018, Singapore is the second easiest place to do business."
Thun Lee, Head of China in TMF Group, said, "A regional strategy is essential for long-term success in the region, given the varying levels of development and infrastructure, and vastly disparate and complex regulatory regimes among ASEAN member nations. Therefore, support from a local partner with in-depth knowledge of and an on-the-ground presence across the region is critical to navigate sensitive cultural issues and rapidly evolving business environments."
To download a complimentary copy of the paper, please click here.
About TMF Group
TMF Group helps its clients operate internationally and 'belong' wherever they are in the world. We do this by making sure they are properly set up to do business in any country and compliant with local and international regulations. Our work includes helping companies of all sizes with business services such as HR and payroll, accounting and tax, corporate secretarial, global governance and administration and fiduciary services for capital markets, private clients, private equity and real estate investments. We have more than 7,000 in-country experts in over 80 jurisdictions worldwide. www.tmf-group.com
About Singapore Economic Development Board
The Singapore Economic Development Board (EDB), a government agency under the Ministry of Trade and Industry, is responsible for strategies that enhance Singapore's position as a global centre for business, innovation, and talent. We undertake investment promotion and industry development, and work with international businesses, both foreign and local, by providing information, connection to partners and access to government incentives for their investments. Our mission is to create sustainable economic growth, with vibrant business and good job opportunities for Singapore.
For more information on EDB, please visit https://www.edb.gov.sg/
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