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Malaysia is No. 1 country for business expansion in SEA, followed by Singapore, Thailand & Indonesia—UOB study

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Singapore companies are most interested in expanding to Malaysia (60%), Indonesia (50%), and Thailand (43%) within the region

, Malaysia has emerged as the prime destination for business expansion in the region, followed by Singapore, Thailand, and Indonesia.

The most positive sectors are Tech, Media, and Telecomm and Industrials, Oil, and Gas . These two sectors also saw the most improvement over the past year. “In a bid to manage high inflation, companies are also looking to balance cost-cutting measures with productivity improvements in the next one to three years.To achieve that, businesses are focusing on various initiatives, including adopting digital solutions to automate processes , investing in employee training and extending the company’s range of products or services ,” the report says.

 

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