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Positive outlook for Brunei's trade, investment: survey
Publication Date : 02-09-2013
US enterprises in Brunei remain committed with their investments as executives surveyed reported positive outlook in their businesses, according to the latest Asean Business Outlook Survey 2014.
Based on the survey published by the American Chamber of Commerce (AmCham) last week, 91 per cent of respondents from Brunei indicated that their companies' level of trade and investment in Asean has increased over the past two years.
Brunei is reported to be the second highest in the region in the survey, falling just behind Myanmar which has all its respondents indicating an increase in their trade and investment level. Laos ranks third in the survey with 88 per cent of respondents indicating an increase.
The US companies' sentiment towards Asean remains optimistic as the survey also revealed that 82 per cent of respondents from Brunei expect their companies' trade and investment in the region to increase over the next five years.
Executives in Brunei shared the same sentiment with the responses from US companies in other countries in the region, whereby 91 per cent of the respondents also viewed a positive outlook in their investments over the next few years.
Business executives in Brunei are also optimistic about their profit outlook in Asean, with 73 per cent of respondents expect profits to increase for the rest of 2013, while 82 per cent of executives are positive about 2014.
In addition, 27 per cent of respondents expect their workforce to increase in Brunei in 2013, while the rest expect the size of their workforce to remain the same in 2013.
The survey also revealed that the most attractive countries for new business expansion are Indonesia and Malaysia.
73 per cent of respondents in Brunei reported that Asean markets have increased in importance to their companies' over the past two years, and that the majority of these respondents expect increased importance of the region over the next two years.
82 per cent of of the respondents from the sultanate has regarded Asean integration as important to helping their companies do business in the region.
However, only 37 per cent of the respondents in Brunei agreed that the Trans Pacific Partnership (TPP) will impact where their company plans future investments in the region.
In an overall view, companies across the Asean region have mixed views on whether the TPP will impact future investment planning, with 36 per cent reporting that it will.
The Asean Business Outlook Survey, the key barometer of US business sentiment in Southeast Asia, was jointly conducted by AmCham and the US Chamber of commerce over the period of May 1 to June 1. A total of 475 business leaders from US companies in the region was surveyed.
2013 marks the 12th year of the Survey.