Axis Capital Group Singapore Forum Asia Continues To Attract Fore..
Asia Continues To Attract Foreign Market9 Years AgoAccording to the Asia Construction
Outlook 2014 survey, the prospect for both the size and the growth of Asian
Construction market remains positive with 92% respondents in agreement. It is
expected that the market will continue growing healthier for 50% for the
remainder of the year. The survey results in AECOM 2014
indicates that Indonesia, Malaysia and Thailand stand out as countries which
respondents expect to become increasingly attractive to foreign suppliers of
construction service. However, comparing to the 2014 survey results with those
from the 2013 survey indicate that respondent’s views have become more
pessimistic regarding long-term market attractiveness in Singapore and India. Indonesia’s construction industry has
performed well during the Jakarta
review period, driven by strong economic activity and high levels of
investment. The country, along with Malaysia is said to be the forefront of
market growth in the region for the next 12 months. Multinationals have been increasing
their footprint in Asia for years as they have moved from selling into the
region to also investing here. Asian companies are also being competitive
threats outside the region as well, as they set their site on the global
dominance. It is never easy to set foot into a
developing nation. Aside from the competition that may arise against local
businesses, there are also competitors among fellow foreigners, causing a lot
of complaints. Indonesia is a key target for infrastructure companies because
its nearly 250 million people are increasingly demanding better health care and
transportation. In 2012, the government has even imposed a stricter process for
foreign investors that plan to start business in the country. On the other hand, in the sudden
increase of companies with the same industry, project managers and the public
have become keen and aware as to which company to trust. Established
construction companies such as Axis Capital Group which is based in Singapore
and has branched out in Jakarta, Indonesia, have already secured their place in
the industry. However, despite the arduous process and strictness of the
government to maintain only legit and licensed companies to operate, some
construction companies and equipment rentals in Jakarta, Singapore, Malaysia
and other leading developing countries could not avoid fraud and scams to
exist. |