Business Part Of Life

Senior executives will be pumping more money into their Asia Pacific businesses over the next 12 month as this part of the planet continues to be the hub of global growth.

A survey released out of Bali on Saturday by PricewaterhouseCoopers shows that 42% of CEOs in Asia Pacific are “very confident” of revenue growth over the next 12 months and close to 70% intend to increase their investments in the same period.

“We’re hiring across Asia,” said VTB Capital’s UK and International CEO Atanas Bostandjiev in a conversation with FORBES in Moscow on Tuesday. “The main process for us there now is to start replicating what we’ve already achieved in Europe, starting first with China and then branching out to Southeast Asia,” said the London-based CEO of Russian full service investment bank VTB.
VTB is already in Indonesia, India and Vietnam. “These are markets…(with) very good demographics and solid economic growth,” he said.

The PwC survey found confidence among Asia Pacific-based executives was on the rise. At least 42% of executives say they are “very confident” of revenue growth in the next 12, up from 36% last year. Longer term, 52% of them say they are confident of growth over the next three to five years, about the same as in 2012.

The trend towards urbanization in many Asia Pacific nations, plus the emergence of the local middle-class and the need for infrastructure development are the main reasons for driving the increase in confidence.

“Executives in the Asia Pacific region are in the midst of a major transformation taking place within the region driven by a gradual but steady rise in income and economic opportunity for millions of people,” Dennis M. Nally, Chairman of PricewaterhouseCoopers International said in a statement from Bali today.

Overall confidence in growth in Asia Pacific remains undiminished.
The region’s key economies however, mainly China, now face many of the uncertainties of slower growth, previously limited to the more developed markets.
In the survey, executives were also asked to identify what country they think will surprise to the upside in Asia Pacific. Indonesia topped the list, followed by Myanmar, China, The Philippines, and Vietnam.

Among the most cited attractive qualities were rising incomes, ample natural resources, increasing transparency, infrastructure improvement plans and political stability.
The PwC study, titled “Towards Resilience and Growth: Asia Pacific Business in Transition”, surveyed nearly 500 business leaders on their attitudes towards doing business in the region. It was released today at a meeting of the Asia Pacific Economic Cooperation (APEC) taking place in Bali, Indonesia.

See: At APEC, Sustainable Development In Question  – Xinhua

With Government Shut Down, Obama Missing From APEC – Euro News

Kerry Defends U.S. Foreign Policy At APEC CEO Summit – BBC News

source: http://www.forbes.com/sites/kenrapoza/2013/10/05/more-money-for-asia-business-execs-say/?utm_source=allactivity&utm_medium=rss&utm_campaign=20131006