As ASEAN businesses continue to monitor the developments surrounding Brexit, the opportunities and risks are laid out in this report.
The impact of the Brexit vote is still reverberating around the world, including South East Asia. There have been warnings of economic catastrophe, though such initial fears have since been moderated. The report highlights the ASEAN countries that London could focus on doing business with in its journey ahead. It also examines the UK’s current position in Europe, various agreements currently in place, power plays, evaluating the outcome the UK is likely to get.
Sector perspectives in the report include:
- Investing in UK plc: Many are expecting UK plcs to become targets for overseas buyers. What are some of the do’s and don’ts for both sides?
- Tax and the impact on foreign companies: Three main areas (customs, VAT and corporation taxes) for multinationals to consider very soon.
- Financial services: What would happen if the UK lost its passporting rights? And how would that loss affect the ASEAN region, its banks and businesses?
- Real Estate: Despite a bumpy start for UK property stocks and real estate funds, all does not seem lost for the most sophisticated and best-researched property market in the world.
- Infrastructure: In the short term, construction will probably be one of the worst affected by Brexit, but now seems like an opportune time for ASEAN to maintain their interest.
- Leisure and hospitality: If the UK continues to attract tourists and capital from Asia there is every chance the economy will weather Brexit and even emerge stronger.
- Airlines: In the longer term, the UK’s growth will depend far more on connections to the fastest growing parts of the world, such as South East Asia.
- Energy and Commodities trading: While it’s business as usual for ASEAN-UK energy and commodity firms trading in the EU for now, the medium-term and long-term requirements and strategic decisions to consider are discussed.