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More US firms may shift business from China to ASEAN: report

(Global Times)

10:51, August 31, 2012

A growing number of US companies plan to shift some operations from China to Southeast Asia in the next two years as confidence in countries such as the Philippines improves, a survey by the American Chamber of Commerce in Singapore showed.

AmCham Singapore said Thursday its survey of 356 senior executives working for US companies in the region showed that 21 percent planned to reduce reliance on China by moving some businesses to Southeast Asia over the next two years, up from 15 percent in a 2011 survey.

Malaysia and the Philippines were the top choices for expansion, with both getting cited by 27 percent of respondents with plans to reduce their reliance on China. In a survey last year, 21 percent of those expecting to move some operations favored Malaysia, and 11 percent cited the Philippines.

In the new survey, the next most favored destinations were Vietnam and Thailand, each favored by 24 percent of respondents. The proportion citing Vietnam was down from 34 percent in 2011, when it was the top choice.

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