Forward View
Fig. 1. Trelleborg offers everything from tires to aerospace seals in South and Southeast Asia. Photo: Trelleborg AB.
4 Home to more than half the world’s population and an ever-increasing share of its industry, the South and Southeast Asia region has become an economic and industrial powerhouse.
South and Southeast Asia – the industrial growth market of the future
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he nations of South and Southeast Asia are weathering the current economic storm with varying levels of success. India remains among the few nations worldwide posting growth
in gross domestic product (GDP), while the export- dependent Asian Tiger economies of Hong Kong and Singapore are feeling the squeeze from reduced global demand.
Foreign investment
Still, the region remains a major target for foreign direct investment. “Everyone acknowledges that this region
represents the growth market of the future,” says Kay Jin Tan, Managing Director of Trelleborg Engineered Products Asia. “In the longer term there is no doubt that Asia will grow faster than any region in the world.” “It is positive that US and European companies
are still looking to invest here,” says Weng Chong Lee, President Marketing Asia Pacific for Trelleborg Sealing Solutions. Weng Chong describes the current business
climate in the region as more competitive than before, with companies fighting over every deal. Many companies are looking to serve the stable domestic market rather than export. “Our customers who sell within Asia are less
affected than those exporting to the U.S. and Europe,” he says. Southeast Asia is growing as a centre for the
aerospace industry. Malaysia is positioning itself as an assembly hub for aerospace component manufacturers, while Singapore is growing as a service hub for the aerospace maintenance, repair and operations business. “We see many European and US aerospace companies relocating assembly and manufacturing plants to this region to leverage the lower cost base,
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