In recent years, many Hong Kong companies have actively "gone global" to expand their overseas markets. Allen Yeung, former government information technology director and founder of IGC, stated that Indonesia is the largest developing economy in ASEAN and is concentrating national resources for development. The current situation is most similar to China 40 years ago, and it is believed that the country will contain huge business opportunities that are attractive to Hong Kong companies. The company plans to use Indonesia as its headquarters to expand into the ASEAN market and can start business in Indonesia as early as this year.
Allen Yeung participated in the Hong Kong promotion event held by the Trade Development Council in Indonesia last week. He mentioned that during a meeting with the largest real estate developer in Indonesia, he learned that their free trade zone is developing under the concept of "smart city", which is in line with the company's main business of smart city solutions, including the smart building software platform "BuildingOS". Therefore, the developer welcomes and actively invites the company to come to Indonesia for business development.
Indonesian companies may more familiar with 'neighbor' Singapore
He pointed out that new business can be launched in Indonesia as early as this year, and plans to use Indonesia as the headquarters for expanding the ASEAN market. In order to better adapt to the new market, he plans to expand his business in Indonesia by seeking cooperation with local enterprises, and even does not rule out direct investment in local smart city and digital economy related products in the future.
When asked why Indonesia was chosen as the headquarters for expanding into the ASEAN market. He said that Indonesia is the largest developing country in ASEAN, and its development status is most similar to that of China 40 years ago, with its GDP showing an upward trend every year; With sufficient new infrastructure projects and investment, it cannot be ruled out that Indonesia's future development may have the opportunity to catch up with China's current development. Since last year, the company has been working on a cooperation project in Saudi Arabia in the Middle East. It may require a connecting base from China to the Middle East, and ASEAN, located between the two regions, is the most suitable area; In addition, Indonesia's current goal of building 100 smart cities contains countless development opportunities and market demands, and we are optimistic about the development prospects of the Indonesian market.
He also said that Indonesian companies may be more familiar with their "neighbor" Singapore, and he hopes that the Hong Kong government and relevant departments can hold more exchange activities to enhance the understanding of local Indonesian companies and officials towards Hong Kong, and strengthen mutual understanding between companies in the two places, so as to establish more connections and make it easier for Hong Kong companies to land in Indonesia.