Time for mid-corporates to ride Asean's rising wave

THE future looks bright for the Association of South-east Asian Nations (Asean). From rising consumer demand to the ongoing need for new infrastructure, Asean offers plenty of potential for companies, especially in a world where global shifts are reshaping the regional business landscape. Already ranked the world's fifth-largest economy, Asean's gross domestic product (GDP) growth is estimated to reach US$4 trillion by 2023.

Of the businesses operating in Asean, the mid-corporate segment - which we classify as companies with annual revenue of between US$10 million and US$500 million - is especially well-placed to develop new services and expand across borders. Mid-corporates have a stronger capacity to fund innovation than smaller businesses and a more agile approach than larger multinationals, enabling them to adapt effectively to evolving needs and expectations.

Mid-corporates - especially those in the manufacturing, retail and consumer, and infrastructure sectors - are also expected to have the most far-reaching impact on Asean's growth prospects. The three sectors represent 44 per cent of regional GDP, and are projected to maintain strong growth in the near term at 7-9 per cent annually by 2021.