4 in 10 Singapore CFOs to prioritize exports to emerging markets
Glass is half-full for Singaporean investors.
According to ICON International Communications, engagement with emerging markets continues to be a priority for senior finance executives in Singapore: 42% of Singaporean respondents regard exports to emerging markets as a primary focus over the next year. Worldwide, Singapore is the second highest ranked (42%) in prioritising emerging markets in its growth outlook, below China (55%) and ahead of India (25%).
Singaporean companies say they will most likely expand activities in China (65%), India (48%), Indonesia (42%), Vietnam (32%) and the Philippines (23%).
There is also a shift in how companies will work with these emerging markets: 45% of respondents say they expect to carry out more production activity (manufacturing or service delivery), up from 31% in 2012. 39% of companies also indicate a commitment to continue to invest in sales and distribution activity, showing a slight decrease from 44% in 2012.
“CFOs in Singapore are recognising the vast opportunities present in these emerging economies as strategic means to bolster and sustain growth.
The survey result indicates that there will be more new entrants and companies looking to increase their distribution channels and production activities in key markets like China, India and ASEAN,” said Berthold.