The development of the Eastern Economic Corridor of Innovation (EECi) has been proposed by The Ministry of Science and Technology to support the innovative research and development and involving the government, private-sector organizations, universities and local communities. It... Read more
ASEAN Legal Alliance Objectives and Goals
The potential in the ASEAN services sector emerging with the establishment of the AEC will be a chance for business support service providers to expand in scope and generate business. This is through inter-cooperation with same profile companies throughout the ten AEC member countries. At the same time, companies in the service sector should be concerned about their potential and strengthen their inter-cooperation. Capacity-building activities through sharing information by building business networks are, therefore, of utmost importance.
Mutual assistance and business inter-cooperation are direct channels to provide services. This is the way to ensure sustainable growth and success. Therefore, we would like to propose the establishment of an Association/Alliance of professional service providers. This is to make better use of all opportunities and to withstand potential adversities following the AEC implementation. It includes one member from each participating country, to provide a comprehensive range of consulting and business support services, for both businesses and individuals, throughout the ten member countries of the ASEAN Economic Community.
The establishment of such an Association/Alliance would allow member companies to provide services to clients in their respective country through direct inter-cooperation with partner companies in the other AEC countries on a one-stop basis, without having to invest into expensive mergers & acquisitions abroad or having to maintain a physical presence there.
Airlines forming alliances (e.g. Star Alliance, Sky Team& One World) use the same approach, based on code & revenue sharing and the harmonization of their standards and best practices.
This Alliance will enhance the competitiveness, productivity and dynamism of service providers. This is possible by reducing cost and by facilitating their mutual access to information, market, human resource development and finance. Thus, strengthening their resilience to better withstand adverse macroeconomic and the challenges of a more liberalized business environment.