Southeast Asia is an increasingly attractive market for Canadian businesses because of the region’s rapidly growing wealth, but also a growing desire to diversify away from China
For Canadians, in particular, Mr. Bao’s disappearance raises the spectre of Xiao Jianhua, the Chinese-Canadian billionaire who was snatched from a Hong Kong hotel in 2017 and later charged with corruption in mainland China. Five years later, in August,If political uncertainty around China is a negative factor, then the growing size of Southeast Asian markets is definitely a major pull for many Canadian businesses.
For Canadian companies that might have been dragging their feet on expanding into Southeast Asia, Ms. Lavery said the government’s new strategy has been a key driver of confidence, showing that Ottawa was poised to provide support and resources in a way it never has done before for this region. “Asia is a huge place, it’s diverse, it’s complex,” said Hafimi Abdul Haadii, a Brunei businesswoman and former lawmaker. But she added that ASEAN was the “engine of growth, as we see it, within Asia.”
“I think you always have to have an approach that recognizes the differences between countries and the differences in sectors,” Ms. Lavery said. “You can’t actually say one size fits all.”
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