Recently a Business Development executive from an industrial MNC told me that his company is looking beyond India and China to focus on the next growth market: the VIPs: Vietnam, Indonesia and the Philippines. Business investors are giving these countries close scrutiny because of their large populations and healthy GDP growth. Other promising economies in Southeast Asia include Thailand and Malaysia.
Indonesia, with a population almost as large as that of the United States, is considered one of the best performing economies in Asia Pacific. It has been an emerging market favorite lately and its stock market performed better than most of the regions’. One challenge is the infrastructure issues in this multi-island country. Also recently the government created uncertainly by introducing restrictions on natural resources that may discourage foreign investment. Vietnam also has a large population although it is growing from a low base. Thailand’s GDP growth has been negligible because of political uncertainly and major flooding but it is expected to increase to 5.5% in 2012.
From a hiring perspective, the job markets in these countries for leadership talent are competitive. Many businesses may face critical skills gaps, because the skills of the current workforce do not match company goals and business models. Identifying experienced individuals who have held leadership roles at multinational companies may be a challenge. Malaysia has lower compensation scales but the employment environment can be tricky because of the government's hiring quotas based on nationality.
Marketing Executives Asia and China -