Top business leaders reveal opportunities and the challenges for a global economy driven by Asia
Asian business leaders attending a recent forum voiced their belief that Asia will drive the global economy of the future, with the 2015 launch of the ASEAN Economic Community (AEC) expected to present huge economic opportunities for businesses both within the group's 10 member countries and beyond.
However, with so many diverse cultures, rules and regulations, a number of obstacles will have to be overcome if the region's economies are to be integrated into a single market, they said. In particular, social inequality, local administration, governance and a number of other key issues will have to be addressed.
To mark the 43rd anniversary of the Nation Group, the country's leading multimedia conglomerate last week organised a forum in Bangkok titled "Asia Driving the World: How leading ASEAN CEOs see the future of the fastest-growing region and beyond".
During the morning session, "Business Visions 2020", high-profile executives from all over the region shared their ideas on business perspectives, trends and the opportunities that lie head once the AEC begins in 2015.
Kyoichi Tanada, managing officer of Toyota Motor Corporation, and president of Toyota Motor Thailand, said Toyota had confidence in the Asian market because of its importance as a production base. Last year, a total of 82 million Toyota cars were sold worldwide, 41 per cent of that in Asia. Thailand and Indonesia are among the firm's top five markets.
Kyoichi added that sustainable human-resources development and hybrid-energy technology would be important focuses for the company.