Until 1953, Lao PDR was a French colony. Following a successful overthrow of the country’s monarchy in the mid-seventies by communist forces, Lao PDR then spent years in isolation. After the fall of the Berlin Wall in 1989, this small landlocked nation soon began opening its doors to the rest of the world.
The manufacturing sector has been one of the Association of Southeast Asian Nations’ (ASEAN) key economic growth drivers. Already, the region is a global manufacturing hub and is estimated to grow at a compound annual growth rate (CAGR) of 6.6 percent between 2016 to 2020.One key factor propelling demand in this sector is a 640 million strong regionwide consumer base with a growing middle-income segment.
The Southeast Asian region will continue to surprise analysts and pundits on the upside, as 2018 continues to unfold.“The stars are aligned for the ASEAN region,” Manu Bhaskaran, Chief Executive Officer for Centennial Asia Advisors told an audience of 700 journalists, diplomats, academics and industry leaders during the 2018 Regional Outlook Forum in Singapore.
Fuji Electric, which is headquartered in Tokyo, acquires Indonesian vending machine manufacturing and sales company in a move to expand its business in Southeast Asia. A contract has recently been signed between Fuji Electric of Japan and Kubota Corporation in purchasing all shares of Metec Semarang to take on after-sales service operations related to vending machines within Japan and overseas.
Vietnam wants to design and make cars for its 90 million motorbike and scooter riders.The country’s largest real estate company Vingroup JSC said it plans to invest up to $3.5 billion to set up a manufacturing and research and development complex, aiming to roll out the first car in 24 months.
