Australian Businesses Expanding in Asia in 2016
When starting or expanding business in a new territory the local knowledge is vital and matters a lot. Conditions for business, market demands, culture everything should be envisaged and when setting up business in this or that territory all slightest details for a successful running should be taken into consideration. Nowadays Asia offers broad opportunities with its big market demands and business environment tailored for flexibility of foreign partners or investors. Recently Australian Businesses have expended to Asia and according to surveys Australian companies that have made the move to the region are striving to grow their prospects and opportunities.
There are number of Australian businesses that have succeeded in Asia and have built a successful Asian business interactions.
ANZ is one of four Australia’s largest banks and is ranked in the top 25 banks globally, it provides a number of institutional, commercial, retails, wealth management and private banking services.
It is the only Australian bank that has been running its business in Asia for 40 years. It got number 1 ranking for its quality interactions with its customers across Asia, its customers are the biggest Asian companies with turnover circa US $ 500 million. ANZ was named as the number 4 Corporate Banks in Asia as well. It is presented in 15 Asian markets having representatives in Asian major cities such as: Hong Kong and Singapore, they serve as regional hubs in Asia. Singapore ANZ does a great part in the bank’s strategy has four branches and around 2000 employees and prides itself with 400,000 customers.
Resources companies expanding in Asia
Beside the bank which has been around 40 years in Asian market, there are other companies working in Asia, and most of them are resource ones or steel companies: BHP Billiton, Rio Tinto, Metal Groups and Woodside Petroleum, eight companies lead construction related business, six in food beverage and two Australian companies are energy related.
BHP Billiton marketing Asian Pte. LTD, distributes and produces minerals products mainly: aluminum, copper, energy and metallurgical coal, iron ore, manganese, nickel, silver and titanium, also uranium, despite being on the market of Asia it runs its business worldwide. Its Asian head office is located in Singapore.
Fortescue Metals Group is mainly concentrated on resourcing iron ore in Asia, having worked in the field the Fortescue Metals Group has achieved its great results in Asia and now it provides a lot of workplaces for the local Asian labor.
There is a great interest from the Asian countries towards Australian food and mainly in Australian vegetables, broccoli, carrots, onions , leafy salad. Australian food providers started expanding their business in this direction.
Nestle Australia, that produces variety of products like: instant foods, pet foods, also processed milk, coffees, chocolate drinks and chocolate bars, runs its business in Asia, meeting the growing demand of the Asian market is one of the successful and leading companies providing number of regions with its products.
More and more Australian Business strive to operate in Asian market that is so diverse and huge. With growing demands in construction and catering and resources Asia is very attractive for the startup businesses too. Some catering & electronic companies have extend offices in Asia such as Kogan – electronics, Atlantic Equipment – restaurant equipment, Simco Group – commercial char grills & Mwave for customized computers and computer parts.