As a region, ASEAN is the seventh largest economy in the world. Home to 600 million people in10 countries, it is projected to rank as the fourth largest economy by 2050.Some of the world’s fastest-growing economies, Vietnam, Cambodia, Laos and Myanmar have rolled out the welcome mat to fuel further growth.
With much smaller populations, the four have long been in China’s shadow but are attracting investment. A number of the factors include wage inflation in China and a desire for geographic diversification. China and Thailand lie in the Mekong Delta and are at a more advanced stage of development than the four neighbors.
All six are connected by three economic corridors: north-south, east-west and southern. The four countries are very different with its unique opportunities: Cambodia is evolving quickly, with strong domestic demand; Laos is having a construction boom; Myanmar finally has elected a civilian president; Vietnam has managed to achieve middle-income status.
More than 90 per cent of exports are based on manufactured goods. The export-fed GDP growth of 7 per cent last year helped Cambodia’s population of 15.6 million climb to lower-middle-income status last year. It is increasingly moving into light assembly, for example in electronics, and integrating more deeply into the regional value chain.
ANZ Royal leverages over 180 years of its regional product capabilities, matched with 11 years on-ground expertise to maximise value to its clients. With clients as top of the mind, ANZ Royal continues to delivers differentiated products setting trailblazing standards in the financial industry since starting operations in 2005.
ANZ Royal continues to deliver and maximise on areas that clients value, such as facilitating Cambodia’s first ever corporate syndication deal. ANZ Royal remains the only bank that can provide an entire range of solutions that cater from the most basic e-channel services to the most complex Host to Host connectivity products, a platform that is complements a company’s high-end Enterprise Resource Planning system to deliver maximum convenience and efficiency.
“We strive to be more than just a bank; but rather to be a trusted partner to our clients with an outstanding level of professionalism and deep) insights that are core to clients’ needs, and which help them grow,” Dr Lethbridge added.
ANZ Royal is part of ANZ’s unique regional footprint ensuring the delivery of quality and innovative services, and connecting local and regional clients, driven by regional trade flow.