South East Asia presents tremendous untapped potential for European businesses
On 15 June Dr Michael Pulch, EU Ambassador to Singapore, announced the launch of the EU Business Avenues in South East Asia programme to assist European enterprises to tap onto potential business opportunities in the fast-growing region.
This EU-funded initiative aims to forge long-lasting business collaborations in South East Asia. Following the completion of a successful pilot programme to Singapore, Malaysia and Vietnam in 2015, the expanded programme will now cover three additional markets: Indonesia, Philippines and Thailand. The newly launched programme will focus on facilitating 20 targeted week-long business missions for up to 1,000 European SMEs across a range of sectors in South East Asia over the next five years.
Dr Michael Pulch, EU Ambassador to Singapore, said: “South East Asia is a region that presents tremendous untapped potential for European businesses, given its fast growing middle class, skilled and literate working-age population that can support business demand as well as provide a suitable base for production facilities. I am confident that collaborations enabled by the EU Business Avenues in South East Asia programme will prove to be mutually beneficial for both European SMEs and their South East Asian partners; the EU companies possess the technological and business know-how that can further develop and enhance key economic and infrastructural industries in the region.”
Mr Teo Siong Seng, Chairman of the Singapore Business Federation (SBF), echoed similar positive sentiment. “The EU plays a vital role in our trade, investment and the global economy. Having witnessed the progress achieved through working together during the pilot phase, we’re delighted to continue with our support in this new five-year programme. The EU Business Avenues in South East Asia initiative will bring about more opportunities and investments that will benefit the region and local businesses.”
Future week-long business missions will cover the following sectors:
- Construction & Building Technologies,
- Contemporary European Design,
- Environment & Water Technologies,
- Food & Beverage
- Green Energy Technologies
- Healthcare & Medical Technologies
- Information & Communication Technologies.
For more information, visit the Business Missions calendar.