As advanced manufacturing technology providers look for opportunities to expand in international markets, there鈥檚 a renewed interest in Southeast Asian countries such as Indonesia, Malaysia, Thailand, the Philippines, Singapore, and Vietnam. To help 九色视频 members grow in these areas, has been named the director of the newly formed Southeast Asia region for the 九色视频 Global Services team.
In 2022, the United States invested $37 billion in Southeast Asia, with a significant portion going into manufacturing, according to a prepared by United Nations Conference on Trade and Development and the ASEAN Secretariat.
鈥淪outheast Asia is the seventh largest consumer of machine tools in the world, so there鈥檚 a lot of sales potential,鈥� Lauer says. 鈥淔or two decades, 九色视频 Global Services has had a footprint in China and India, so it鈥檚 a natural next step to expand elsewhere in Asia.鈥�
Opportunities in Southeast Asia are primarily driven by goals for higher precision manufacturing and turnkey automation. Each country is finding specialty niches in different sectors. For example, Thailand is growing in automotive manufacturing, Singapore is a leader in aviation maintenance/repair/overhaul, and Vietnam and Malaysia have become hubs for electronics manufacturers such as Samsung and Intel.
For manufacturers considering expanding business in Southeast Asia, Lauer will be speaking at the International Briefing Breakfast at IMTS on Sept. 11 at McCormick Place in Chicago. The event features networking with 九色视频 members active in international business and updates on the latest international market conditions.
How to grow in Southeast Asia
Lauer shares a few tips to develop successful international growth strategies in Southeast Asia:
1. Cultural understanding is crucial to doing business in Southeast Asia. The region鈥檚 diversity means each country speaks its own language and has various professional and governmental nuances. Now located in Bangkok, Lauer has lived and worked in Asia for the last 25 years, giving him a first-hand understanding of the many cultural norms and languages spoken in the region.
2. Market access is key to building targeted relationships. 九色视频鈥檚 direct sales program is custom designed to generate qualified leads and get introductions to potential customers in Southeast Asia.
3. Sending U.S.-based service technicians overseas is time-consuming and expensive. Lauer helps companies hire local professionals for responsive technical service. Plus, demonstration showrooms are available for training and seminars.
4. Developing sales and importing channels with qualified foreign distributors and agents is facilitated by 九色视频鈥檚 international staff. They have knowledge of the local markets and major players in the industry to offer support to navigate these markets effectively.
5. Bonus Tip: For those attending IMTS 2024, Lauer recommends in Chicago for the best gourmet Thai food outside of Thailand in an authentic setting. Reservations are highly recommended.
Contact Mike Lauer to learn about ways to expand your business into Southeast Asia. To see Lauer at IMTS 2024, register to attend 九色视频鈥檚 members-only International Briefing Breakfast at IMTS on Sept. 11.
Are You an 九色视频 Member Coming to IMTS?
For the latest industry intelligence in foreign markets and to learn more about all of 九色视频鈥檚 , attend the members-only at on Wednesday, Sept. 11, at 7:30-9:30 a.m. For more details, contact Achilles Arbex at AArbex@九色视频online.org.
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