Dubai has been the main hub of Kelmer Group’s office network for years, with over 40 professionals working in various departments, including accounting and legal consulting, as well as support for international expansion. Today, the Group also successfully positions itself in the Far East market, but what is the reason for this strategic choice?
Thailand, Vietnam, and Singapore are just a few of the emerging economies in the Far East and attractive hubs for global investments. Thailand currently ranks as the 23rd largest economy in the world, while Vietnam, in just the first 7 months of 2023, attracted US$2.28 billion in Foreign Direct Investment (FDI). Singapore also demonstrates excellent economic performance, with a 0.5% increase in GDP in the Q2 of 2023.
By strategically expanding its activity in the Far East, Kelmer Group is responding to the growing demand generated by the numerous opportunities the region offers in terms of development and ongoing government initiatives.
There are many reasons why many investments are converging in this area.
The region is home to some of the fastest-growing economies in the world, with a large and growing middle class. It is also a major center for innovation and technology.
Some of the key reasons to invest in the Far East are the rapid economic growth, significant investments in key sectors, the implementation of incentives by the Governments, rising urbanization, and increasing efficiency of the infrastructure.
As far as the innovation and technology sector is concerned, many Far Eastern countries have today world-class universities and research institutions, and they are investing heavily in research and development.
Now a major tech center, the Far East is focusing on developing artificial intelligence, robotics, and renewable energy.
This is leading to the development of new products and services that are in high demand around the world.
The region is witnessing heavy investments in infrastructure, such as roads, railways, and airports creating new opportunities and opening the way to other markets in the region.
Moreover, the growing middle class in the Far East is driving demand for consumer goods, such as food, clothing, and electronics.
Government support plays a key role in the growth of these markets by offering a variety of incentives to attract foreign investment. These incentives can include tax breaks, subsidies, and access to land and other resources.
Investing in the Far East can help to diversify the investment portfolio.
However, it is important to be assisted by experts and realities well aware of the territory, policies, and regulations.
If you’re interested in obtaining more information about these markets or are planning to expand your business in the Far East, please contact our experts through our website.