US firms bullish on Asean
American companies remain optimistic about the growth outlook and investment opportunities in Southeast Asia amid the solid growth in domestic consumption.
The poll results were contained in the special Asean 50th anniversary edition of the 2018 Asean Business Outlook Survey released Wednesday by the American Chamber of Commerce of the Philippines, the US Chamber of Commerce and the American Chamber of Commerce in Singapore.
“The 2017 survey results for the Philippines saw 70 percent of AmCham Philippines respondents planning to expand their operations in the Philippines. This level of confidence was among the highest in the ten Asean economies and the same as Vietnam at 72 percent and Myanmar at 71 percent,” said American Chamber of the Philippines executive director Ebb Hinchliffe.
The survey, which polled senior executives of US companies in Asean countries, found that 56 percent of surveyed expect their profits to increase in 2017 over last year, and 74 percent see higher profits in 2018.