<p>[新加坡] 在疫情之前的幾十年裏，東南亞的出口推動了該地區的經濟增長。然而，這裏的商業領袖們現在正更加關注本土的機會。</p>
<p>從 1980 年代到 2000 年代，向美國等市場的商品出口幫助新加坡、馬來西亞和泰國等國的經濟蓬勃發展。</p>
<p>最近，它們也推動了越南的經濟增長，因為河內利用全球供應鏈重組的機會。</p>
<p>_《商業時報洞察：東盟情報 2026》_發現，63% 的 538 位受訪商業領袖認為未來三年東盟的經濟機會最強。</p>
<p>62% 的人也認為他們的國內市場提供了最具吸引力的機會。中國排名第三，48% 的受訪者提到它。</p>
<p>與市場調研公司 Kantar 合作，BT 研究對東盟六國經濟體的不同產業的企業領導者進行了調查：新加坡、馬來西亞、印度尼西亞、泰國、菲律賓和越南。</p>
<h3>東盟情報</h3>
<p>獲取東南亞各地企業的洞察</p>
<p>獲取免費報告</p>
<p>東盟現在是全球第五大經濟體，預計到 2030 年將成為全球第四大經濟體，DBS 首席經濟學家 Taimur Baig 和高級經濟學家 Chua Han Teng 表示。</p>
<p>根據世界銀行的統計，自 2022 年以來，印度尼西亞、越南和菲律賓的經濟年均增長至少為 4%。</p>
<h2>在 “鄰里” 中</h2>
<p>除了增長敍事，熟悉度和政策也是這一前景的關鍵因素，Maybank 證券經濟學家 Brian Lee 表示。</p>
<p>另見</p>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/55cff04dcf415d017b0adf194de121de5082dce950d48de47a674816ee6d677b/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/55cff04dcf415d017b0adf194de121de5082dce950d48de47a674816ee6d677b/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>印度尼西亞在人工智能採用方面領先東盟，主權模型需求上升：BT 調查</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/afd8a034a49da08663441cfc2bf585a6770c1f34699c67d59791ecf904c9155e/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/afd8a034a49da08663441cfc2bf585a6770c1f34699c67d59791ecf904c9155e/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>東盟企業將在亞洲分配 81% 的投資，將供應鏈轉移到該地區：BT 調查</h3>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/44345b2b81bb58bcf3f0fd424b56af9fe553663e33f6cfbac853ba33e7462d89/query-ZHByPTEmZj13ZWJwJnc9MjQw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/44345b2b81bb58bcf3f0fd424b56af9fe553663e33f6cfbac853ba33e7462d89/query-ZHByPTEmZj13ZWJwJnc9MjQw"/></p>
<h3>2026 年將推動增長的是什麼？東盟商業領袖表示答案就在家門口：BT 調查</h3>
<p>“許多在東盟受訪的商業領袖可能在該地區有過商業經驗，” 他指出，並補充説 “該地區就在他們的鄰近地區”。</p>
<p>“長期以來，東亞自由貿易協定和中國與東盟國家之間的雙邊自由貿易協定的網絡幫助降低了投資壁壘，增強了市場準入，” 他説。</p>
<p>在 3 月份的一次投資者演示中，菲律賓綜合企業 SM Investments Corporation（SMIC）強調其計劃在今年增加三到四個購物中心，以擴大其零售足跡。</p>
<p>它還計劃在該國服務不足的地區擴展其銀行業務。該集團是菲律賓最大的綜合房地產開發商，同時也是該國最大的銀行 BDO Unibank 的擁有者。</p>
<p>在與 BT 的電子郵件採訪中，SMIC 總裁兼首席執行官 Frederic DyBuncio 表示，該集團自 3 月份以來的前景依然保持不變。</p>
<p>“菲律賓繼續受益於強勁的國內消費基礎，” 他指出。“家庭支出佔經濟的約四分之三，受到匯款和年輕人口增長的支持。</p>
<p>“這提供了相對穩定的需求環境，即使在成本壓力期間。”</p>
<p>他補充説，SMIC 對菲律賓總體持樂觀態度，並在負責任地投資以抓住機會。</p>
<p>除了其銀行、房地產和消費業務外，該集團還在通過 2GO 投資物流，並通過菲律賓地熱生產投資可再生能源。</p>
<h2>機會與信任差距</h2>
<p>儘管該地區提供了許多機會——與商業活動相符——但東盟及一些個別經濟體可能需要克服信任障礙。</p>
<p>這些市場被企業視為有吸引力，但更難以駕馭。</p>
<p>在區域層面，這種 “高機會與低信任” 的不匹配尤為明顯，BT 調查發現了這一點。</p>
<p>例如，超過 40% 的菲律賓和新加坡受訪者表示他們對該地區的信任度低，即使他們看到那裏有 “強勁” 的機會。</p>
<p>越南、印度尼西亞和馬來西亞的商業領袖同樣報告了對東盟的情緒中存在顯著的信任差距。</p>
<p>激烈的競爭和東盟經濟體中不斷上升的成本被認為是關鍵因素。其他原因包括經濟發展步伐不均和該集團內部的結構性分裂。</p>
<p>在國內，菲律賓在機會與信任之間的差距最大，三分之一的 46 位受訪高管在其本土市場中識別出這種差距。他們提到的原因包括地方法規的僵化。</p>
<p>印度尼西亞排名第二，21% 的 43 位受訪者提到存在不匹配。他們將其歸因於匯率波動和通貨膨脹上升等因素。</p>
<p><strong>深入瞭解商業未來，並在應對未來挑戰時更好地掌握信息，</strong> <em><strong>《商業時報洞察：東盟情報》</strong></em></p>
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<p>最近《商業時報》的一項調查顯示，63% 的東南亞商業領袖認為在未來三年內，東盟地區存在強勁的經濟機會，其中國內市場被視為最具吸引力。然而，信任缺口顯著存在，特別是在菲律賓和新加坡，超過 40% 的受訪者儘管認識到機會，但仍表示信任度低。激烈的競爭、成本上升和監管挑戰等因素導致了這種差異</p>

<p>[SINGAPORE] In the decades before the pandemic, South-east Asian exports drove economic growth for the region. However, business leaders here are now looking closer to home for opportunities.</p>
<div class="lb-trans"><p>[新加坡] 在疫情之前的幾十年裏，東南亞的出口推動了該地區的經濟增長。然而，這裏的商業領袖們現在正更加關注本土的機會。</p>
</div><p>From the 1980s to the 2000s, exports of goods to markets such as the United States helped to power economies of countries such as Singapore, Malaysia and Thailand.</p>
<div class="lb-trans"><p>從 1980 年代到 2000 年代，向美國等市場的商品出口幫助新加坡、馬來西亞和泰國等國的經濟蓬勃發展。</p>
</div><p>More recently, they have also boosted Vietnam’s economic growth as Hanoi capitalises on a restructuring of global supply chains.</p>
<div class="lb-trans"><p>最近，它們也推動了越南的經濟增長，因為河內利用全球供應鏈重組的機會。</p>
</div><p><em>The Business Times Insights: Asean Intelligence 2026</em> found that 63 per cent of the 538 business leaders surveyed think the strongest economic opportunities in the next three yearsare in Asean.</p>
<div class="lb-trans"><p>_《商業時報洞察：東盟情報 2026》_發現，63% 的 538 位受訪商業領袖認為未來三年東盟的經濟機會最強。</p>
</div><p>Sixty-two per cent also viewed their domestic markets as offering the most compelling opportunities. China ranked third, with 48 per cent of those surveyed citing it.</p>
<div class="lb-trans"><p>62% 的人也認為他們的國內市場提供了最具吸引力的機會。中國排名第三，48% 的受訪者提到它。</p>
</div><p>Working with market survey firm Kantar, the BT study polled corporate leaders from different industries in the Asean-6 economies: Singapore, Malaysia, Indonesia, Thailand, the Philippines and Vietnam.</p>
<div class="lb-trans"><p>與市場調研公司 Kantar 合作，BT 研究對東盟六國經濟體的不同產業的企業領導者進行了調查：新加坡、馬來西亞、印度尼西亞、泰國、菲律賓和越南。</p>
</div><h3>Asean Intelligence</h3>
<div class="lb-trans"><h3>東盟情報</h3>
</div><p>Get insights into businesses across South-east Asia</p>
<div class="lb-trans"><p>獲取東南亞各地企業的洞察</p>
</div><p>Get the free report</p>
<div class="lb-trans"><p>獲取免費報告</p>
</div><p>Asean, now the world’s fifth-largest economic bloc, is poised to become the world’s fourth-largest by 2030, said DBS chief economist Taimur Baig and senior economist Chua Han Teng.</p>
<div class="lb-trans"><p>東盟現在是全球第五大經濟體，預計到 2030 年將成為全球第四大經濟體，DBS 首席經濟學家 Taimur Baig 和高級經濟學家 Chua Han Teng 表示。</p>
</div><p>The economies of Indonesia, Vietnam and the Philippines have expanded by at least 4 per cent annually since 2022, based on World Bank statistics.</p>
<div class="lb-trans"><p>根據世界銀行的統計，自 2022 年以來，印度尼西亞、越南和菲律賓的經濟年均增長至少為 4%。</p>
</div><h2>In the “neighbourhood”</h2>
<div class="lb-trans"><h2>在 “鄰里” 中</h2>
</div><p>Beyond the growth narrative, familiarity and policy are also key contributors to this outlook, said Maybank Securities economist Brian Lee.</p>
<div class="lb-trans"><p>除了增長敍事，熟悉度和政策也是這一前景的關鍵因素，Maybank 證券經濟學家 Brian Lee 表示。</p>
</div><p>SEE ALSO</p>
<div class="lb-trans"><p>另見</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/55cff04dcf415d017b0adf194de121de5082dce950d48de47a674816ee6d677b/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/55cff04dcf415d017b0adf194de121de5082dce950d48de47a674816ee6d677b?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Indonesia leads Asean in AI adoption as demand for sovereign models rises: BT survey</h3>
<div class="lb-trans"><h3>印度尼西亞在人工智能採用方面領先東盟，主權模型需求上升：BT 調查</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/afd8a034a49da08663441cfc2bf585a6770c1f34699c67d59791ecf904c9155e/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/afd8a034a49da08663441cfc2bf585a6770c1f34699c67d59791ecf904c9155e?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Asean firms to allocate 81% of investments within Asia, move supply chains to region: BT survey</h3>
<div class="lb-trans"><h3>東盟企業將在亞洲分配 81% 的投資，將供應鏈轉移到該地區：BT 調查</h3>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/44345b2b81bb58bcf3f0fd424b56af9fe553663e33f6cfbac853ba33e7462d89/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/44345b2b81bb58bcf3f0fd424b56af9fe553663e33f6cfbac853ba33e7462d89?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>What will power growth in 2026? Asean business leaders say answer lies close to home: BT survey</h3>
<div class="lb-trans"><h3>2026 年將推動增長的是什麼？東盟商業領袖表示答案就在家門口：BT 調查</h3>
</div><p>“Many business leaders surveyed across Asean could have had prior experience in doing business around the region,” he noted, adding that “the region is within their immediate neighbourhood”.</p>
<div class="lb-trans"><p>“許多在東盟受訪的商業領袖可能在該地區有過商業經驗，” 他指出，並補充説 “該地區就在他們的鄰近地區”。</p>
</div><p>“The longstanding network for intra-Asia free-trade agreements and bilateral free-trade agreements between China and Asean countries has helped ease investment barriers and strengthen market access,” he said.</p>
<div class="lb-trans"><p>“長期以來，東亞自由貿易協定和中國與東盟國家之間的雙邊自由貿易協定的網絡幫助降低了投資壁壘，增強了市場準入，” 他説。</p>
</div><p>In an investor presentation in March, Philippine conglomerate SM Investments Corporation (SMIC) highlighted that it intends to expand its retail footprint by adding three or four malls this year.</p>
<div class="lb-trans"><p>在 3 月份的一次投資者演示中，菲律賓綜合企業 SM Investments Corporation（SMIC）強調其計劃在今年增加三到四個購物中心，以擴大其零售足跡。</p>
</div><p>It also plans to expand its banking operations with branches in underserved areas of the country. The group is the Philippines’ largest integrated real estate developer, and it also owns BDO Unibank, the nation’s largest bank.</p>
<div class="lb-trans"><p>它還計劃在該國服務不足的地區擴展其銀行業務。該集團是菲律賓最大的綜合房地產開發商，同時也是該國最大的銀行 BDO Unibank 的擁有者。</p>
</div><p>In an e-mail interview with BT, SMIC president and chief executive officer Frederic DyBuncio said the conglomerate’s outlook from March still holds.</p>
<div class="lb-trans"><p>在與 BT 的電子郵件採訪中，SMIC 總裁兼首席執行官 Frederic DyBuncio 表示，該集團自 3 月份以來的前景依然保持不變。</p>
</div><p>“The Philippines continues to benefit from a strong domestic consumption base,” he noted. “Household spending accounts for about three-quarters of the economy, supported by remittances and a young and growing population.</p>
<div class="lb-trans"><p>“菲律賓繼續受益於強勁的國內消費基礎，” 他指出。“家庭支出佔經濟的約四分之三，受到匯款和年輕人口增長的支持。</p>
</div><p>“This provides a relatively stable demand environment, even during periods of cost pressure.”</p>
<div class="lb-trans"><p>“這提供了相對穩定的需求環境，即使在成本壓力期間。”</p>
</div><p>He added that SMIC remains generally positive on the Philippines, and is investing responsibility to capture the opportunities.</p>
<div class="lb-trans"><p>他補充説，SMIC 對菲律賓總體持樂觀態度，並在負責任地投資以抓住機會。</p>
</div><p>Apart from its banking, real estate and consumer businesses, the group has been investing in newer segments such as logistics through 2GO, and renewable energy via Philippine Geothermal Production.</p>
<div class="lb-trans"><p>除了其銀行、房地產和消費業務外，該集團還在通過 2GO 投資物流，並通過菲律賓地熱生產投資可再生能源。</p>
</div><h2>Opportunity vs trust gap</h2>
<div class="lb-trans"><h2>機會與信任差距</h2>
</div><p>While the region offers many opportunities – which track with the business activity – there are trust hurdles that Asean and some individual economies may need to overcome.</p>
<div class="lb-trans"><p>儘管該地區提供了許多機會——與商業活動相符——但東盟及一些個別經濟體可能需要克服信任障礙。</p>
</div><p>These are markets that businesses perceive as attractive, but harder to navigate.</p>
<div class="lb-trans"><p>這些市場被企業視為有吸引力，但更難以駕馭。</p>
</div><p>At the regional level, this mismatch of “high opportunity and low trust” is especially pronounced, as the BT survey has found.</p>
<div class="lb-trans"><p>在區域層面，這種 “高機會與低信任” 的不匹配尤為明顯，BT 調查發現了這一點。</p>
</div><p>For example, more than 40 per cent of respondents in the Philippines and Singapore said they had low trust in the region, even as they saw “strong” opportunities there.</p>
<div class="lb-trans"><p>例如，超過 40% 的菲律賓和新加坡受訪者表示他們對該地區的信任度低，即使他們看到那裏有 “強勁” 的機會。</p>
</div><p>Business leaders from Vietnam, Indonesia and Malaysia likewise reported significant levels of thisgap in their sentiments towards Asean.</p>
<div class="lb-trans"><p>越南、印度尼西亞和馬來西亞的商業領袖同樣報告了對東盟的情緒中存在顯著的信任差距。</p>
</div><p>Intense competition and rising costs in Asean economies were cited as key contributing factors. Other reasons include the uneven pace of economic development and structural fragmentation within the bloc.</p>
<div class="lb-trans"><p>激烈的競爭和東盟經濟體中不斷上升的成本被認為是關鍵因素。其他原因包括經濟發展步伐不均和該集團內部的結構性分裂。</p>
</div><p>Domestically, the Philippines had the largest gap between opportunity and trust, with a third of the 46 executives surveyed identifying such a divide in their home market. They cited reasons including rigid local regulations.</p>
<div class="lb-trans"><p>在國內，菲律賓在機會與信任之間的差距最大，三分之一的 46 位受訪高管在其本土市場中識別出這種差距。他們提到的原因包括地方法規的僵化。</p>
</div><p>Indonesia came in second, with 21 per cent of the 43 respondents citing a mismatch. They attributed it to factors such as fluctuating exchange rates and rising inflation.</p>
<div class="lb-trans"><p>印度尼西亞排名第二，21% 的 43 位受訪者提到存在不匹配。他們將其歸因於匯率波動和通貨膨脹上升等因素。</p>
</div><p><strong>Gain deeper insights into the future of business and be better informed as you navigate what is ahead with</strong> <em><strong>The Business Times Insights: Asean Intelligence</strong></em></p>
<div class="lb-trans"><p><strong>深入瞭解商業未來，並在應對未來挑戰時更好地掌握信息，</strong> <em><strong>《商業時報洞察：東盟情報》</strong></em></p>
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