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120 pages. Currently the world’s sixth largest economy, the Association of Southeast Asian Nations (ASEAN) is forecast to become the fourth largest economy in the world by 2030 after the United States, China, and the European Union. The forecast is supported by rapid urbanisation and population growth. Emerging economies in ASEAN namely the Philippines, Vietnam, Myanmar and Cambodia are becoming more attractive to foreign investments due to their relatively cheap labour and sizeble untapped domestic markets. With the rapid expansion of manufacturing hubs and industrial estates, the four countries began investing in the construction and expansion of transport infrastructure. This included seaports, railways, roads, bridges and airports to facilitate business and ease trade logistics. New infrastructure projects planned in the four countries will contribute to increased demand for a wide range of engineered rubber products such as structural bearings and dock fenders as well as dry rubber products such as expansion joints and rail pads.
The study identified Philippines as a potential export market for Malaysian rubber products due to its “Build, Build, Build” infrastructure initiative introduced in 2018 to improve transport connectivity. Among the four ASEAN countries, the Philippines recorded the highest allocation in infrastructure spending with 75 infrastructure projects planned until 2022. Another attractive market worth considering by Malaysian exporters is Vietnam which has pledged to address its poor urban infrastructure in Hanoi and Ho Chi Minh. The study also examines the rubber products market size and supply chain in Myanmar and Cambodia which rely on foreign agencies to design and develop a transportation master plan to improve the countries’ infrastructure.
Publication Date:1 April 2019
Category/Type: Market Reports/PDF
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