Member Article

Asian Construction Market Remains Positive with 92% Respondents

According to the Asia Construction Outlook 2014 survey, the prospect for both the size and the growth of Asian Construction market remains positive with 92% respondents in agreement. It is expected that the market will continue growing healthier for 50% for the remainder of the year.

The survey results in AECOM 2014 indicates that Japan, Indonesia, Malaysia and Thailand stand out as countries which respondents expect to become increasingly attractive to foreign suppliers of construction service.

However, comparing to the 2014 survey results with those from the 2013 survey indicate that respondent’s views have become more pessimistic regarding long-term market attractiveness in Singapore and India.

Driven by the high quality standards, Japan with its capital Tokyo in particular holds foreign interest in the past decades. The country, along with Singapore is ready to compete to international market growth maintaining the stable increase in growth and development.

Multinationals have been increasing their footprint in Asia for years as they have moved from selling into the region to also investing here. Asian companies are also being competitive threats outside the region as well, as they set their site on the global dominance.

It is never easy to set foot into a developing nation. Aside from the competition that may arise against local businesses, there are also competitors among fellow foreigners, causing a lot of issues unresolved but being one of the most disciplined countries in Asia, Japan has been growing well and fast. Tokyo has been a target of local trade and business establishments since a lot of foreign investors have seen potential in business and technology in the city.

On the other hand, in the sudden increase of companies with the same industry, project managers and the public have become keen and aware as to which company to trust. An established company such as Cedar Capital Group which is based in Singapore and sells and leases capital equipment with agents in Tokyo, Japan and Seoul, South Korea has already secured its place in the industry. Above all, the government continues to implement arduous process and strict policies to maintain only legit and licensed companies to operate. This being given, contractors should rest assured be secured in their field.

This was posted in Bdaily's Members' News section by Fiona Kauffman .