Dec 02, 2021 04:09 AM

WORLD

Greater Bay Area Businesses Target ASEAN for Expansion

By Wen Simin and Denise Jia

China’s investment in ASEAN surged 52.1% year-on-year to $14.36 billion in 2020.

China’s investment in ASEAN surged 52.1% year-on-year to $14.36 billion in 2020.

Southeast Asia is the next hot expansion destination for companies in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), a survey showed.

Nearly 60% of businesses in the GBA are considering expansion into the 10-member Association of Southeast Asian Nations (ASEAN) region in the next three years, according to a survey released Tuesday by the Hong Kong Trade Development Council and United Overseas Bank Ltd.

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