Going Global | Asia Pacific edition 1 | Kreston Global
Kreston Global
Unlocking business potential by connecting ambitious global entrepreneurs with our accounting experts in 114 countries
The first magazine in the Going Global regional markets series is out now.
The magazine uses the results of the 'interpreneur' survey as a framework to understand how mid-market clients do business in the region.
We have discussed the key issues with our on-the-ground network experts in order to understand more about the needs of clients operating there.
?Read some highlights below, or click below to download your copy and read the full edition.
India's tech talent instrumental in AI boom
India's sovereign AI plans are coming into sharp focus as the economy experiences rapid growth, reaching the highest global rate of 8.2% in 2024. India is also home to over 100 unicorns, making it unsurprising that there is a strong appetite for new technology, including AI, to sustain this momentum.
Our latest interpreneur research indicates that 96% of CEOs of Indian businesses with turnovers up to ￡300 million feel ready to harness AI, compared to a global level of 90%.
Vineet Rathi , Managing Partner at Kreston OPR Advisors, offers a comprehensive view of this transformative phase in India’s growth, sharing his thoughts on the readiness, impact, and future potential of AI in India.
China SOEs key to ESG targets
There has been a seismic shift toward?ESG ?in Chinese corporate culture of late. Few other countries find the ESG concept dovetails perfectly with government policy, as it does with?China ’s social modernisation goals.
?An interview with Susan Li, VP of?Kreston Brighture, explains how the high rate of state-owned enterprises (SOEs) in China means the government is able to force through ESG adoption. The Chinese government has made ESG compliance a priority and SOEs have to align closely with national strategies and regulations, which can drive their ESG initiatives.
Australia’s ‘fair share’ tax reform targets multinationals
The Treasury Laws Amendment (Making Multinationals Pay Their Fair Share – Integrity and Transparency) Bill 2023 contains the amendments to introduce a new thin capitalisation regime which will apply to most companies for income years commencing on or after 1 July 2023.
The Bill aims to strengthen Australia’s thin capitalisation rules to combat what the government considers to be excessive debt deductions eroding the domestic tax base. It will limit the amount of debt used to fund Australian operations or investments and disallow debt deductions when debt used to fund Australian assets exceeds certain limits. It applies to most multinational businesses operating in Australia with at least AU$ 2 million in debt deductions.
The cost of doing business in Singapore
The Singapore business environment has long been considered a hospitable environment, consistently ranking well in the Ease of Doing Business index, published by the World Bank Group.
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Efficient, with a well-regulated environment it is often considered the ideal gateway to the broader Asian The country is frequently perceived as a model of economic stability and innovation, offering a conducive environment for both local and international enterprises to thrive.
We spoke to Helmi Talib, Managing Partner of Helmi Talib in Singapore to understand more about his experience of running a firm that services the mid-market in Singapore and whether that comes at a cost.
Southeast Asia: Breaking into tiger economies
Southeast Asia presents a wealth of opportunities for businesses looking to expand their global footprint. The region’s economic growth, large consumer base, and strategic location make it an attractive destination for companies worldwide.
However, entering the top six Southeast Asian markets—Indonesia , Vietnam , Thailand , Malaysia , Singapore , and the Philippines —also brings several challenges for incoming businesses. Bayani Lauraya from Kreston Thailand explains how to build a business that thrives in these challenging markets.
Japanese SMEs and business culture
Japan’s results in the recent interpreneur report published by Kreston Global set them aside from most countries. Understanding the culture is key to doing business there effectively. We explore some of the more surprising results of the report with Marek Lehocky , CEO and Representative Director of Kreston Proworks , Japan, and use his experience of doing business in the country to understand the results.
Vietnam’s path to growth
Vietnam’s business environment is becoming increasingly open and supportive. Since 2014, the government has focused on improving the business climate through consistent reforms.
However, doing business in Vietnam comes with challenges. “Corruption and bureaucracy remain significant hurdles,” says Dung Nguyen Hoang , Partner at Kreston VN . Click the link below to read the full article that explains more from the local perspective.
Cambodia’s new investment law offers tax incentives
Cambodia’s new investment law offers tax incentives to investors. The Cambodian government has enacted this new investment law designed to provide substantial benefits to investors, with a focus on tax incentives. This move aims to attract and stimulate investment across various high-potential sectors. Read the full article by Haing Sivtieng and Keat Heng, CPA, AccA at Kreston Cambodia .
Join us on 24 September 2024 at 9:00 (UK time) for a webinar for anyone thinking about going global with their business. Sign up to learn more about what drives international entrepreneurs (interpreneurs) to go global, what they have learnt from their experiences accessing new markets and audiences and how that insight can inform the roadmap for the future.
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