Whether it is large, medium or small, businesses across the USA are turning to Asian countries for new market and profitable new partnerships. The market of Asia is unitary that means companies will find similar business scope no matter the country they select. The talent pool in Asia is fast growing. Connecting with successful startup founders is also easier now.
Here is our list of top Asian countries to do business–
In the span of the past twenty years, the world has been dazzled by China’s startling economic growth and its increasing power in the international arena. As the world’s second largest economy and a vital trading partner for many countries, China is an obvious choice for anyone looking to expand their business overseas. China provides skilled, inexpensive labor while newly opened Free Trade Zones are making foreign investments and China sourcing even more economical. For many reasons, China has emerged with an interesting amount of advantages that appeal to both domestic and foreign entrepreneurs and investors. With wide-ranging reforms designed to give businesses and entrepreneurs fewer headaches, China tops the chart for doing business in Asia.
Entrepreneurs love the country’s passionate talent, good climate, and its unique culture. Vietnam is the third largest market in Southeast Asia and one of the fastest-growing economies in the world. Strong economic growth rates have been a common feature of the Vietnamese economy since the 1990s. Garment, Electronic and Textile producing are lucrative business in Vietnam because.
Thailand has made immense progress in doing business reforms. A substantial agriculture sector and competitive manufacturing industry have kept Thailand strong and growing with low poverty and unemployment rates. It is the world’s largest exporter of rice and a leader in textiles, tin and electronics. The Thai government promotes any international business that contributes to the development of technology, innovation, and trade skills.
Taiwan was ranked 15th out of 190 economies in the World Bank’s Ease of Doing Business Survey for 2018. Taiwan is highly free in economic activities. Foreign trade has been the engine of Taiwan’s rapid growth during the past 40 years. Its a more “free” country with highly-developed infrastructure. Taipei is the capital of Taiwan, and the country’s political, educational, business and culture epicenter.
The sharp rise in India’s ease of doing business rank is making this country one of the finest places in Asia for doing business. It is the main reason the country is attracting more foreign investments. During the past year, India made starting a business easier by fully integrating multiple application forms into a general incorporation form. States across India have been doing their bit to make cities more conducive to doing business. From improving connectivity and IT infrastructure to providing the talent pool, Indian cities are upping the ante to make their cities more business-friendly.
A large, young population and a strong export sector await expanding businesses in Asia. But there are several factors which could influence the decision to setting up an office or a manufacturing hub. In fact, understanding the specific economic and social circumstances of each country is key.