Business situation good, business expectations even better – this is what local companies are telling their bi-lateral German Chambers of Commerce abroad (AHKs) in almost all locations in the Asia Pacific region. Companies in India are particularly positive. This is according to the new AHK Asia Pacific Business Outlook. In September and October 2023 more than 800 AHK member companies were surveyed on their business prospects.
"We see that German companies are increasingly exploiting the potential of the dynamic Asia Pacific region and are investing and creating jobs in many locations", said Martin Wansleben, Executive Director of the German Chamber of Commerce and Industry in Berlin. The positive signals from Asia Pacific are an important ray of hope for the economy in Germany, as the economic optimism in Asia Pacific is also associated with great opportunities for German companies at their domestic locations.
"The confidence that our companies in the Asia Pacific region are feeling should be a reason for us in Germany and Europe to finally put aside the bureaucratic red tape in order to improve our competitiveness here in Germany. Otherwise, countries in Asia Pacific will soon outpace us", advises Wansleben.
This is because many countries in the Asia Pacific region are not only attracting investors with lower energy prices or well-trained specialists. According to the DIHK-CEO, the business friendliness you can grasp with your hands in many places there is also leading to increased investment. It is therefore not surprising that not only investments in marketing, sales and production are rising in Asia Pacific, but also investments in research and technological development. They mean investments in the future, which we are unfortunately all too often missing in Germany at present.
The local experts at the AHKs provide important insights into the region and the mood there with the newly published "AHK Asia Pacific Business Outlook". "These insights provide us with valuable information about the extent to which the companies are diversifying their business within the region", states Wansleben. "Whether establishing management functions in Japan or adding further locations in the region to their China business – companies are doing what they can do best in times of geopolitical tensions: They are diversifying their value chains to be successful with their products in the growing markets of Asia Pacific."
From October 24 to 26, 2024, the German business community will meet at the 18th Asia-Pacific Conference in New Delhi to discuss the region's potential and developments on the ground.
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