Top-Rated Free Essay
Preview

Starting a Business in Asean Countries

Satisfactory Essays
345 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Starting a Business in Asean Countries
ASEAN

Legal:
There are different legal issues that could arise from introducing Clean Energy to ASEAN countries; the duration of the incorporation processes and restrictions differ widely between each country, and there are procedural steps which need to be considered.
A good indicator used to compare countries in terms of legal restrictions in foreign businesses is the ease of establishment index, which bases itself on areas such as the minimal capital requirements, requirements of an investment approval, availability of electronic services or business registration processes (World Bank Group 2013).
With the only exception of Singapore, all of the ASEAN countries are under the global average of 64.5 on the ease of establishment index (Starting a business in ASEAN 2012), which demonstrates that most of them have longer integration procedures and steps.
Singapore has an ease of establishment index of 78.9 and is the fastest and easiest ASEAN country in which to start up a business; with only 4 procedures and 9 days to complete the process (Doing Business 2013). An application for business registration needs to be completed through the Singapore Accounting and Corporate Regulatory Authority, which can all be monitored online. There is also no minimum capital requirement for foreign entering businesses.
On the other hand, Vietnam has a much slower integration time and many more procedures.
With an ease of establishment index of 57.9 and a 94 day waiting time for start-up, Vietnam is the slowest ASEAN country to integrate a foreign business in. There are many time consuming steps in incorporating a firm in Vietnam, including translating all legal documents into Vietnamese and getting them approved by the Vietnamese department of foreign affairs

References:
-World Bank Group 2013 Starting a Foreign Business Methodology, available from <http://iab.worldbank.org/Methodology/Starting-a-Foreign-Business> [2013].
- Starting a business in ASEAN 2012 Why Thailand remains interesting for foreign investors; available from < http://franklegaltax.com/starting-a-business-in-asean/> [2012]
- Doing business 2013 Economy rankings; Available from < http://www.doingbusiness.org/rankings>

References: -World Bank Group 2013 Starting a Foreign Business Methodology, available from &lt;http://iab.worldbank.org/Methodology/Starting-a-Foreign-Business&gt; [2013]. - Starting a business in ASEAN 2012 Why Thailand remains interesting for foreign investors; available from &lt; http://franklegaltax.com/starting-a-business-in-asean/&gt; [2012] - Doing business 2013 Economy rankings; Available from &lt; http://www.doingbusiness.org/rankings&gt;

You May Also Find These Documents Helpful

  • Best Essays

    A well-established organization is seeking to expand its operation internationally in Vietnam. The Purpose of the report is to analyses the situation and cultural in Vietnam and business level strategy and market entry strategy…

    • 3260 Words
    • 14 Pages
    Best Essays
  • Good Essays

    The regional integration of the Association of Southeast Asian Nations (ASEAN) includes Indonesia, Malaysia, Philippines, Singapore, Thailand, Brunei Darussalam, Vietnam, Lao PDR, Myanmar, and Cambodia.…

    • 772 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Copy General Case

    • 454 Words
    • 2 Pages

    Starting a new business from another country will have some general Challenges faced as follows:…

    • 454 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Swag

    • 388 Words
    • 2 Pages

    2) Describe the political, economic, and legal environment of the country chosen. Include discussion on issues such as the role of government on foreign businesses, labor laws, legal issues that businesses need to know, political risks, growth of economy using measures such as unemployment, GDP etc.,…

    • 388 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Vietnam Industrialisation Strategy within the Framework of the Vietnam – Japan Co-operation Agreement towards 2020, with a vision towards 2030’. The six key industries include…

    • 331 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Doing Business in Asia

    • 437 Words
    • 2 Pages

    Andrea Kirby discusses the monetary importance of doing business in Asia. Media regulation changes and their effect on American and Asian business relationships. Each Asian Country handles business differently and therefore a clear understanding of the strategies for success is key to a successful business venture in Asia (Kirby, 2002).…

    • 437 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Vietnam Market Entry

    • 930 Words
    • 3 Pages

    It is a little late but not too late for U.S companies to enter Vietnam as shown by PepsiCo which entered the market early. We must also understand that we were the tenth largest source of foreign investment compared to many of the Asian powers investing so it is understandably obvious that we are a little late. However, like Pepsi, there are a number of U.S based multinational corporations (MNCs) already operating in Vietnam and if firms do their research and due diligence, investment would…

    • 930 Words
    • 3 Pages
    Good Essays
  • Best Essays

    Doing or expanding business in Asia nowadays has become a popular trend from companies around the world, many big firms based on Europe and United States of America recently has opened a branch in Asia in order to reach the Asia Market. The main attraction of Asia is the number of population, with approximately 4 million people spread around 5 regions, consist of Northern Asia, Western Asia, South Central Asia, South East Asia, and East Asia (OneWorldNationsOnline, 2012), it is apparent that Asia has become a large growing market that attracts companies around the world. Moreover, other than the large growing market potential it offers, there are other benefits that a firm can get by expanding business in Asia. First of all the labor cost in some less developed Asia Countries, such as Indonesia, Vietnam, Thailand, is relatively lower than labor cost in Western Countries, for example, England and United States of America. Secondly, the land cost in Asia, Indonesia in particular is relatively much cheaper than in Western countries. However, despite the benefits that have been mentioned above, there are some risks that need to be known by a firm before deciding to expand business to Asia, Indonesia in particular. The…

    • 2341 Words
    • 10 Pages
    Best Essays
  • Powerful Essays

    John Peter, a Marketing Manager of Hewlett-Packard Asia Pacific (HPAP) was evaluating HPAP’s long-term strategic investment options for doing business in Vietnam. Before start up business in Vietnam, John needs to know the current business environment in Vietnam. History, Economic and Politic Environment are important to know about the country whether is stable from others control. Current workforce is important to find the skillful employee when it’s start up the factory in Vietnam. Foreign exchange and investment regulations are also important to know whether Vietnam market was open to global market or not. Hence, facility in Vietnam such as financial services, communicate services, utilities provider and others also important to start up a factory. Before John want to start up a factory in Vietnam, he has made a business visit to Vietnam and meet with local experience Director to find out the best solution and the possible modes of entry in Vietnam are majority joint venture with local partner or become independent partner.…

    • 1206 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    With the increasing effects of ASEAN over the world, Vietnam is an ideal market for…

    • 9449 Words
    • 38 Pages
    Good Essays
  • Powerful Essays

    Bpo Call Centre

    • 20554 Words
    • 83 Pages

    Listed below is a detailed summary of the bureaucratic and legal hurdles an entrepreneur must overcome in order to incorporate and register a new firm, along with their associated time and set-up costs. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income (GNI).…

    • 20554 Words
    • 83 Pages
    Powerful Essays
  • Better Essays

    According to data collected by Doing Business, starting a business there requires 14 procedures, takes 38 days, costs 3.5% of income per capita and requires paid-in minimum capital of 100.4% of income per capita…

    • 1300 Words
    • 6 Pages
    Better Essays
  • Good Essays

    Singapore, the Lion City, is one of the five busiest ports in the world and has the fastest-growing economy in the world as of the year 2010. Ever since the country’s early days as a British trading post, traders all around the world had been setting up businesses and had been successful even since then. Singapore as we know it today is still one of the best places to start and establish companies or businesses. Considering that, many entrepreneurs would love to have a chance to set up business in Singapore. The main question now is how do you do so?…

    • 635 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Vietnam Pest Analysis

    • 269 Words
    • 2 Pages

    Political - Vietnam is a Single Party Communist State. There is more likely to be higher government control and less autonomy for the organization wanting to enter the Vietnamese market. However, on the good side, Vietnam is more likely to have relatively greater political stability. Would be advisable to form good relations with the local government and negotiate favorable terms with them.…

    • 269 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    As far as I'm concerned,we can analyse the global entrepreneurial competitiveness in Singapore from three macroscopic aspects---Politics,Economy,Culture.All these three divisions encompass 9 framework conditions collectively.As can be seen in the table, Singapore was ranked quite highly in all framework conditions among 20 comparison countries. Specifically, Singapore was ranked 1st in the areas of Government Policies and Access to Physical Infrastructure, 2nd in Government Programs and 3rd in Research and Development Transfer. Across the 9 framework conditions, the lowest overall scores for Singapore were observed for Education and Training, Research and Development Transfer, and Market Openness, while the highest scores were observed for Access to Physical Infrastructure and Government Policies.…

    • 1649 Words
    • 7 Pages
    Powerful Essays