{"id":4386,"date":"2023-04-25T20:00:31","date_gmt":"2023-04-25T13:00:31","guid":{"rendered":"https:\/\/itifund.com\/?p=4386"},"modified":"2023-05-04T13:43:03","modified_gmt":"2023-05-04T06:43:03","slug":"startups-eyeing-southeast-asia-key-considerations-to-ponder-before-expanding-part-2","status":"publish","type":"post","link":"https:\/\/itifund.com\/en\/startups-eyeing-southeast-asia-key-considerations-to-ponder-before-expanding-part-2\/","title":{"rendered":"Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 2)"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><strong>Take advantage of local human resources<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The quality of human resources in Southeast Asia is improving, for example:<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Vietnam: In 2020, Vietnam&#8217;s Human Development Index (HDI) was ranked <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/khcncongthuong.vn\/tin-tuc\/t12587\/chien-luoc-phat-trien-nguon-nhan-luc-quoc-gia-cua-viet-nam-trong-boi-canh-cuoc-cach-mang-cong-nghep-4-0.html\">110 out of 189<\/a><\/span> countries and just behind Singapore in Southeast Asia, where the unemployment rate in urban areas is always below 4%. (*)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Singapore: with an average growth of 3% per year since 2015, labour productivity per capita has reached $170,000 and is among the top in the world by 2020. (**)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Malaysia: promulgates the national strategy on university education for 2015-2025 with all domestic departments to build an international education centre.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Therefore, startups conformally give human resources policies such as salary, benefits, and promotion. According to Aon, wages across Southeast Asia are forecast to increase by nearly 8% in 2023.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Singapore is a typical country in this region, focusing on and offering special benefits for employees in 2023 when 7% of organizations offer flexible working hours. 10% of businesses are willing to take employees&#8217; Fridays off as a privilege.<\/span><\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-4255 aligncenter\" src=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-300x200.jpg\" alt=\"ITI Fund - C\u00e1c doanh nghi\u1ec7p Singapore c\u1ea1nh tranh kh\u1ed1c li\u1ec7t trong cu\u1ed9c chi\u1ebfn \u0111\u00e3i ng\u1ed9 nh\u00e2n t\u00e0i\" width=\"568\" height=\"378\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-300x200.jpg 300w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-1024x683.jpg 1024w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-768x512.jpg 768w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-1536x1024.jpg 1536w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/businessman-summer-city-with-three-women-2048x1365.jpg 2048w\" sizes=\"(max-width: 568px) 100vw, 568px\" \/><span style=\"font-size: 14px;\"><i><span style=\"font-weight: 400;\">Singapore firms face a war to hunt talent<\/span><\/i><\/span><\/p>\n<h2 style=\"text-align: justify;\"><strong>Online Branding<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In Southeast Asia, the Internet is booming. It is predicted to double to <span style=\"text-decoration: underline; color: #0000ff;\"><a style=\"color: #0000ff; text-decoration: underline;\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-10\/southeast-asia-internet-economy-to-surge-to-363-billion-by-2025#xj4y7vzkg\">$363 billion<\/a><\/span> by 2015 and far outstrip the previous forecast of $300 billion (according to Google, Temasek Holdings Pte, and Bank). &amp; Co), in which e-commerce, tourism, food, transportation, and communication are the leading sectors.(***)<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Since Covid-19, Southeast Asia has recorded changes in consumer behaviour and online business got Southeast Asia into the &#8220;digital decade&#8221;, in which spending on Online shopping gained 49% and reached 174 billion USD in 2022 (Bloomberg).<\/span><\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-4259\" src=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-300x200.jpg\" alt=\"ITI Fund - ITI Fund - \u0110\u00f4ng Nam \u00c1 ch\u1ee9ng ki\u1ebfn s\u1ef1 d\u1ecbch chuy\u1ec3n m\u1ea1nh m\u1ebd c\u1ee7a h\u00e0ng vi ti\u00eau d\u00f9ng v\u00e0 kinh doanh tr\u1ef1c tuy\u1ebfn k\u1ec3 t\u1eeb Covid-19\" width=\"549\" height=\"366\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-300x200.jpg 300w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-1024x683.jpg 1024w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-768x513.jpg 768w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-1536x1025.jpg 1536w, https:\/\/itifund.com\/wp-content\/uploads\/2023\/04\/woman-wearing-mask-uses-laptop-work-min-2048x1367.jpg 2048w\" sizes=\"(max-width: 549px) 100vw, 549px\" \/><span style=\"font-size: 14px;\"><i><span style=\"font-weight: 400;\">Southeast Asia consumers turn to online shopping amidst the COVID-19 pandemic<\/span><\/i><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Southeast Asia&#8217;s booming internet economy will double to $363 billion by 2025, far exceeding the old forecast of $300 billion, according to a study by Google, Temasek Holdings Pte., and Bank &amp; Co. implementation coordination.<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In the first half of 2021, investments in Southeast Asia Internet companies totalled 11.5 billion USD, nearly 11.6 billion USD in 2020. Some of the most valuable technology startups, including Grab and GoTo, are preparing to Initial Public Offerings (IPO). (***)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Indonesia is Southeast Asia&#8217;s largest digital economy, with the value of online shopping forecasted to double to $146 billion by 2025. Venture capital deals in the first half of 2021 surpassed the total of 4 years ago. (***)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">However, Vietnam is expected to experience the strongest growth in this region, with the GMV of the digital economy forecast to triple in the next four years.<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Therefore, taking advantage of the above potentials for online branding and business plays an important role for startups.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><strong>Local product personalization<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Nowadays, personalization plays an integral role in the buying process, and startups need to build databases and technology applications efficiently and highly interactively.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Netcore Cloud Solution aims to be an important step forward in Vietnam and Southeast Asia with personalized product &amp; solution based on science and data that enhances the difficult user experience.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Geniebook &#8211; an Edtech enterprise that replaces the traditional learning model with AI technology and provides a suitable learning path for each student&#8217;s achievement, which gives an experience of learning through play.<\/span><\/span>\n<div class=\"body fz-23\">\n<h4><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2173 aligncenter\" src=\"http:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-300x207.png\" sizes=\"(max-width: 633px) 100vw, 633px\" srcset=\"https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-300x207.png 300w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-1024x708.png 1024w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-768x531.png 768w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-1536x1061.png 1536w, https:\/\/itifund.com\/wp-content\/uploads\/2022\/04\/Eng@3x-2048x1415.png 2048w\" alt=\"ITI Fund_Information\" width=\"633\" height=\"437\" \/><\/h4>\n<h4>Contact:<\/h4>\n<ul>\n<li aria-level=\"1\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f30f.svg\" alt=\"\ud83c\udf0f\" \/><a href=\"https:\/\/itifund.com\/\">\u00a0itifund.com<\/a><\/li>\n<li aria-level=\"1\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f4de.svg\" alt=\"\ud83d\udcde\" \/>\u00a0(+84)90 998 3699<\/li>\n<li aria-level=\"1\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f4e9.svg\" alt=\"\ud83d\udce9\" \/>\u00a0info@itifund.com<\/li>\n<li aria-level=\"1\"><img decoding=\"async\" class=\"emoji\" role=\"img\" draggable=\"false\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/13.1.0\/svg\/1f514.svg\" alt=\"\ud83d\udd14\" \/><a href=\"http:\/\/fb.me\/ITIFund\">\u00a0fb.me\/ITIFund<\/a><\/li>\n<\/ul>\n<\/div>\n<div class=\"bottom m-top-60 text-right\">\n<div class=\"link relative\"><\/div>\n<\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Take advantage of local human resources The quality of human resources in Southeast Asia is improving, for example: Vietnam: In 2020, Vietnam&#8217;s Human Development Index (HDI) was ranked 110 out of 189 countries and just behind Singapore in Southeast Asia, where the unemployment rate in urban areas is always below 4%. (*) Singapore: with an &#8230; <a title=\"Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 2)\" class=\"read-more\" href=\"https:\/\/itifund.com\/en\/startups-eyeing-southeast-asia-key-considerations-to-ponder-before-expanding-part-2\/\" aria-label=\"More on Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 2)\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":4411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Startups Eyeing Southeast Asia: Key Considerations to Ponder Before Expanding (Part 2)<\/title>\n<meta name=\"description\" content=\"Trends\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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