Kuala Lumpur, 28 June 2019 – The German Chambers ASEAN Business Council (GCABC) released the results of the AHK World Business Outlook 2019 survey during last Friday,21 june 2019, revealing the opinions of German business leaders across Southeast Asian markets, amid the pressures of a global economic slowdown.
GCABC, consisting of the seven German Chambers of Commerce and Industry (AHKs) in the ASEAN region, namely the chambers in Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam, conducted the survey using a sample size based on Germany’s vast network of 2,600 members companies in seven countries across Southeast Asia
The results captured the hopeful confidence of German investors regarding developments in the Southeast Asian region. Political stability and talent shortage were cited as the top external factors impacting overall investment decisions. Furthermore, the survey revealed the risk-averse attitudes of German businesses toward a host country’s inflation rate, corruption levels, taxes and financial access.
The data obtained makes a rigorous comparison between the current situation to the previous year and forecasts for the year ahead. Results for Malaysia showed an emboldened optimism for an improved economy under the new “Malaysia Baharu” government.
“The German economy mainly consists of SMEs. Many of these companies are family-owned and require stable, reliable and predictable frameworks and conditions. This is why, over the years the questions on political and economic factors as well as political stability and rule of law in the respective markets always form the most important sentiments for business people.” said Chief Executive Officer of the Malaysian-German Chamber of Commerce and Industry (MGCC), Daniel Bernbeck.
MGCC, being one of the most active in this survey, undertook the qualitative research project for its sister Chambers. The report is available for download at http://bit.ly/WBO2019.