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WebPort Global (WPG) has been promoting the Southeast Asia region for the last two months. If you have been following us, you may have some new markets in mind or have already started doing business in this area. Today, WPG has selected the top 5 industry opportunities for companies considering doing business in this region.
1. Medical Tourism
Wouldn't it be great if you could get prettier during your travelling? Southeast Asia is no doubt another hot spot for medical tourism after South Korea and Japan. In Thailand, medical tourism is a $100 billion a year industry, with patients primarily from the Middle East arriving for treatment of heart ailments and diabetes as well as the US and Europe, for cut-rate plastic surgery. The Philippines are also famous for this.
Such big business and strong growth in the domestic health sector has crested strong demand for medical devices and health care products. Also, companies that design and outfit hospital and clinics will find treasure here.
2. Tourism
Tourism is another bright spot in Southeast Asia. The tropical climate, rich culture, wonderful food and affordable prices have been raved by countless tourists. For example, Laos was rated the #1 “Place to go” by the New York Times in 2008; the Ankor Wat temple in Cambodia is on the top bucket list of trendy travelers; green buildings in Yangon with trees and tropical leaves growing from the cracks in facades always can attract additional attention.
More and more hotels are being built near these places but still seem short of meeting the growing demand. This is reflected in difficult booking and expensive rates during the high season. Therefore, tourism infrastructure and resorts provide very good opportunities in countries like Cambodia, Laos and Myanmar. The demand for electricity is becoming stronger accordingly. Get your feet into the power generation or transmission sector before it is too late.
3. Oil and Gas
Oil and gas are crucial sectors, which are giving a lift to the economy and should continue to support growth and help developing countries eventually enter the higher income club. For example, the domestic commercial energy consumption within Thailand is primarily based on oil and natural gas; The Philippines’s crucial oil production is forecast to rise almost two thirds from 2012 to 2019. Therefore, the need for oil and gas equipment and related infrastructures will continually be huge.
Furthermore, as additional countries are focusing on renewable and alternative energy sources, clean technologies are becoming more important in the marketplace, in addition to traditional oil & gas equipment and services. Equipment like Carbon Capture and Storage; Gasohol and Biodiesel are hot sectors as well.
4. Agriculture
Agriculture has historically been one of the most active sectors in the trade market. Especially in South East Asia, a lot of countries are highly involved in agriculture. Some of the popular items to keep in mind are: coffee, raw sugar, wheat, rubber, fish, meats and seafood preparation.
With the utilization of ASEAN trade agreements and Generalized System of Preference (GSP) agreement among some countries in Southeast Asia and other developed countries, exporting and importing agriculture commodities will become simpler and more cost effective in the future. If you are a company based in the US and interested in this market, below you will find two great resources to take a look at provided by WPG’s partner Datamyne:
1. Top 25 US Agricultural Imports
2. Top 25 US Agriculture Exports
5. Transportation Infrastructure
Poor infrastructure is a significant challenge in some countries in Southeast Asia. However, if you are in this business, that means opportunities for you. For instance,Indonesia has huge needs in transportation equipment and the foreign exchange to pay for it; Thailand plans to build several new higher railway lines; Myanmar railways also invite tenders to introduce luxury trains, which will target foreign tourists.
Except railway systems that may need a big firm to support it, you can get your feet into the supply chain of signaling, freight cars or other associated hardware.
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| PCM758060B bearing | 75 | 80 | 60 |
| PCM707570B bearing | 70 | 75 | 70 |