Internationalization and expansion of businesses have been accelerating, facilitated by modern technologies and infrastructures. However, many of the motivations for it are reactive ones; competitive pressures in current market, declining sales and the proximity to customers or ports. Seldom do businesses explore beyond their domestic markets, unwilling to leave their comfort zones to take on opportunities. The pride and quality of local, or Made in Singapore products and services are not proactively established outside the country. This is one of the things Astreem is passionate about; to put more local brands and businesses on the world stage.
Foreign investments for Myanmar in 2015 have soared to more than $8 billion, reflecting the growing interests in one of Asia’s last remaining untapped market. This figure is owed mainly to the increased spending in the telecoms, energy, and real estate industries. Tax incentives and export tariffs has been offered to attract more FDIs and create urgently needed jobs for Myanmar’s growing population. Singapore is the second largest investor in Myanmar, accounting for 18.78% of the country’s FDI permit so far. IE Singapore has also reported a 41.5% increase in investments in recent years. Myanmar is on the verge of middle class population explosion and Singapore firms are taking aim at this with upmarket services and posh condominiums. Myanmar’s highly fragmented retail sector, 90% of which are family businesses, fueled by rising middle class consumers, led to a huge demand for international brands and services. There is now a race to become one of the first movers to Myanmar’s growing economy and market where sectors face minimal competitions. Every year is becoming more crucial than the last.
Myanmar: 28th to 30th June 2016
Astreem Consulting will be hosting a business matching trip to Myanmar, supported by International Enterprise (IE) Singapore. Businesses are eligible to get up to 70% of supported third-party costs under the Market Readiness Assistance (MRA) grant.
Philippines has helped built franchise empires. With established and matured franchise laws, Philippines is the right destination to grow your business through franchising. With GIC (Singapore Sovereign Wealth Fund) also investing in franchising chain in Philippines, this shows recognition and confidence of Philippines’ market capability.
Philippines enjoys a strong local consumption that has help the local economy grow, and the Food and Beverage sectors are enjoying sustainable growth through the years. With demand for international brands increasing, Singapore brands have a higher chance of success in Philippines Market due to the favorable reputation “Made in Singapore” tags attract.
Deal Hunter Philippines:
Astreem is conducting a Deal hunter program to set pre-appointments for Singapore companies to meet up with Area/Master Franchisees. These franchisees possess vast potential to grow Singapore brands throughout the Philippines. Click here to know more.
The growth rates for China is predicted to remain positive though its unlikely to be as lucrative as the double-digit growth enjoyed in the previous decades as the economy transforms from its current low-end manufacturing-led one to one, led by higher-end manufacturing and services. This transformation will continue to fuel China’s growth rates and provide many business opportunities for Singapore companies wanting to do business in China. China’s economy is shifting from an investment-driven growth model to one that is consumption-led. Rapid urbanisation and growth of its middle class are factors that continues to boost domestic demand. According to UN estimates, by 2030, China should have approximately 1.4 billion middle class consumers compared to 365 million in the U.S. and 414 million in Western Europe. As of 2012, the estimated size of the Chinese middle class is already 474 million.
Astreem is conducting a series of mission trips across 4 cities of China and will arrange for meetups and networking sessions with Chinese investors and franchisees. Click here to know more
Customized Plan of Growth
We understand that companies would want a customized plan to grow to match their business strategies. Astreem will work closely with companies to develop a customized growth plan and define target markets to grow.
If you plan to reach out to Myanmar, Philippines or China this year, call us at 6742 0803 or email us on [email protected].