AmCham: Brunei least favoured for business

Brunei has been identified as the least popular ASEAN nation for business expansion by American companies operating in the region, according to a recent survey by the American Chamber of Commerce (AmCham).

Based on the ASEAN Business Outlook Survey 2014 published last month, only six per cent of overall respondents from ASEAN expressed their interest to expand their businesses into the Sultanate.

Among all respondents in the survey’s Business Expansion in ASEAN category, Indonesia (49 per cent), Vietnam (43 per cent), Thailand (40 per cent) and Myanmar (39 per cent) are the most popular locations for business expansion.

The survey stated that Brunei and Laos (13 per cent) are two of the least popular choices for business.

AmCham surveyed a total of 475 business leaders from US companies in the region over the period of May 1 to June 1.

The survey also revealed that US companies expect strong growth across ASEAN, with the majority report that their companies will expand within their respective locations.

The business survey also revealed that the most attractive countries for new business expansion by US companies in Brunei include Indonesia and Malaysia.

46 per cent of respondents from Brunei sees Singapore to hold the next largest turnover for their company, the survey indicated.

The ASEAN Business Outlook Survey, the key barometer of US business sentiment in Southeast Asia, was jointly conducted by AmCham and the US Chamber of commerce.