ASIA PACIFIC BUSINESS LEADERS' CONFIDENCE HITS THREE YEAR HIGH DESPITE TRADE FRICTIONS

APEC business investments increasing – Vietnam popular destination for new funds 63% of APEC CEOs expect global footprint to expand in next three years Concern rising on potential restrictions on labour mobility and movement of goods 58% of CEOs  investing in automation DA NANG, Vietnam, Nov 8 (Bernama-GLOBE NEWSWIRE) -- Confidence in revenue growth is at its highest level for three years amongst business leaders in 21 Asia-Pacific Economic Co-operation’s (APEC) economies. 37% of APEC CEOs are very confident of revenue growth during the next 12 months, up from 28% in 2016 despite trade policy uncertainty and related political tensions in many of the economies  that make up APEC. PwC surveyed over 1,400 business leaders with responsibility in each of the 21 APEC economies in the run up to the annual APEC CEO Summit in Vietnam. In the next year, a net 50% of businesses surveyed by PwC will increase their global investments (including those outside the APEC region), up from 43% last year, as APEC businesses increase their foothold and influence on the global economy. 71% of those surveyed who are raising investment will direct those increases into APEC economies in 2018, and 63% of all APEC CEOs expect their broader global footprint to expand over the next three years. The biggest domestic investment winners will be Vietnam, Russia, the Philippines, Indonesia and Malaysia. Vietnam, China, Indonesia, the US and Thailand are the top APEC targets for business leaders’ overseas investment. 89% of Malaysian CEOs and 86% of Viet Nam CEOs expect to expand globally. Bob Moritz, PwC Global Chairman comments, “Business leaders’ confidence suggests they are not waiting for the fog of uncertainty to clear to push ahead with investment plans. In the short term this will drive momentum for APEC, increasing its global influence and supporting deals activity with 71% of CEOs expecting to rely more on business partnerships/joint ventures in the future. “CEOs’ concerns about restrictive trade conditions, particularly the movement of labour and goods, has to be a key area of discussion for APEC leaders at the upcoming summit as it directly impacts competition and growth. 30% of business leaders want APEC, as a forum, to take the lead on exploring labour mobility solutions. “The majority of business leaders are bullish for growth, and see APEC becoming more economically linked over time, with three quarters seeing slow current progress towards deepening economic integration. 31% of CEOs in the US say progress on free trade in Asia Pacific has stalled or reversed, compared to 18% across the region.”  http://mrem.bernama.com/viewsm.php?idm=30499