An Introduction to Doing Business in ASEAN 2023 – New Publication from Dezan Shira & Associates
The Association of Southeast Asian Nations (ASEAN) was established in 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand to accelerate economic growth and social development in the region. Brunei Darussalam joined in 1987, Vietnam in 1995, Lao DPR and Myanmar in 1997, and Cambodia in 1999.
ASEAN is home to more than 600 million people (larger than the EU and North America) and has the third-largest labor force behind India and China.
Since its inception, the bloc has seen growth in myriad sectors, such as manufacturing, retail, transportation, and telecommunications. The bloc is expected to become the world’s fourth-largest economy by 2030 with domestic consumption expected to reach US$4 trillion.
However, the onset of the COVID-19 pandemic has severely impacted ASEAN states as protracted lockdowns resulted in a sharp downturn in industrial production, exports, and consumption.
In response, ASEAN members have quickened the pace of key reforms to improve the ease of doing business and attract foreign investment in new areas, such as high-value manufacturing capabilities and digital technology. These new growth drivers, among others, will make ASEAN attractive to foreign investors, including those looking to move a part or all of their manufacturing activities from China.
This publication, designed to introduce the fundamentals of investing in ASEAN, was compiled by experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.
An Introduction to Doing Business in ASEAN 2023 covers the following:
- Corporate establishment;
- Tax and accounting;
- Human resources and payroll; and
- Audit and compliance.
ASEAN Briefing is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia and maintains offices throughout ASEAN, including in Singapore, Hanoi, Ho Chi Minh City, and Da Nang in Vietnam, Munich, and Esen in Germany, Boston, and Salt Lake City in the United States, Milan, Conegliano, and Udine in Italy, in addition to Jakarta, and Batam in Indonesia. We also have partner firms in Malaysia, Bangladesh, the Philippines, and Thailand as well as our practices in China and India. Please contact us at firstname.lastname@example.org or visit our website at www.dezshira.com.