Filipino CEOs see big expansion opportunities in the ASEAN region, particularly in Vietnam, Indonesia, and Malaysia, according to a recent survey by PwC/Isla Lipana.
The results of their 2017 CEO Survey, conducted in partnership with the Management Association of the Philippines (MAP), revealed that these three economies appeal the most to Filipino CEOs as potential arenas for further development of their businesses.
Vietnam came out as the top choice, garnering 20 percent of the votes from 114 participants, while Indonesia came in second at 19 percent. Malaysia received 16 percent of the votes, followed by Singapore with 14 percent, and Thailand and Myanmar with 11 percent.
According to PwC partner Aldie Garcia, these ASEAN nations were chosen “because of relative political stability, ongoing reforms similar to what they’re having here in the country and more importantly, a bright economic prospect.”
It has also been cited by the study that the economy of forerunner Vietnam “is expected to benefit from the strong investments in the manufacturing sector, openness to trade, political stability, growing tourism sector, and ongoing reforms.”
The CEO Survey was conducted between members of the MAP using a combination of online and printed questionnaires, according to PwC. The findings were also supported by in-depth interviews with Filipino CEOs and government officials.
Story first appeared here.