ASIAN businesses are consolidating and anticipating the creation by the Association of Southeast Asian Nations of an integrated marketplace that is expected to make the region economically independent from the West, especially in light of the continued failure of developed nations to show signs of recovery.
Albert Kong, chief executive of Asiawide Franchise Consultants Pte. Ltd., said an integrated Asean marketplace will give businesses a market of close to 600 million consumers in a region with a combined gross domestic product (GDP) of about $1.1 trillion. The creation of this marketplace “will inject dynamism into Asia,” he said.
Kong is in the country to promote the Franchising and Licensing Asia 2010 expo opening in Singapore next month.
He said the economic state of Western nations has led them to “expect a lesser number of companies from the United States and Europe to participate this year [in the expo], considering the deep-running effects of their housing crisis.”
But Kong said he has high hopes franchisers from the Philippines will consider participating in the expo to see the opportunities for expansion in Asia, especially when some of them are already looking at expanding abroad.
“Filipino franchisers need to be ready to integrate in the region since a lot of regional people will be there and find partners to expand in the region.”
Citing World Trade Organization data, FLAsia 2010 organizers said in a statement that Asia will account for 60 percent of the global trade by 2020, “replacing North America and Europe as the centers of global trade.”
Kong said he sees a franchising boom next year when the zero-tariff environment is applied in Asean for its members. “It will be for the good, definitely not for the worst.”
FLAsia2010 coincides with the International Symposium on Franchising hosted by the International Franchise Association, being held for the first time in Singapore.
“Singapore is poised to become the Asian hub for global franchising,” said John Reynolds, president of IFA Educational Foundation Inc.
The group is heralding franchising as a key business expansion strategy and helps budding entrepreneurs wanting to start their business. –Dennis D. Estopace / Reporter, Businessmirror
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
