New network opportunity presentation

New network opportunity presentation

Andersen Consult’s presentation of the offer to join their networking platform was the main take-away from the Dancham networking evening in Bangkok on Thursday 15 June.

The network currently has 172 business people mostly from Denmark signed up and eager to network with companies in Asia. Anyone is welcome to sign up and join the network. This can be done from here:

Lars Siggaard Andersen is on a mission to bring Nordic businesses closer to businesses in Asia – and the other way around. Before coming to Thailand, he had already established cooperation with Nordcham Philippines and Cambodia. The job is to have as many companies as possible in Asia sign up as contact persons for companies in Denmark so a Danish company would know who to ask for anything, big or small, that they need help with.

For the companies in Asia, the opportunity goes the other way, to network among companies in Denmark for help with questions related to their business there. Also Asian companies are very welcome on the platform, not only Danish or Nordic related companies.

Andersen Consult comes into the picture when eventually there may be need for a partner evaluation or other kind of professional service.

Only twelve members had signed up for the event which cost 900 baht to join. They were later joined by four who had not signed up in advance.

The evening started with an introduction to CeramicSpeed, the latest member of Dancham. The company produces ball bearings made of a ceramic material which is lighter and offers less friction than traditional steel ball bearings. The concept was easy: “We want to offer the best and the most expensive solution,” Rasmus Gjarlov explained.

After that, the Vicepresident Richard Jones of Indorama Ventures gave an insightful presentation of his company. Indorama Ventures PCL is one of the world’s leading producers of polymers, fibers, and packaging that can be found in many products worldwide. We learned among others that 1 in 5 clear PET bottles is made from IVL polymers – and thus very likely one of the over 70 Indorama factories worlwide. Even more suprising was it to learn that 1 in 2 baby diapers are made from IVL fibers and that the material is even so strong, that it is also used in car airbags.

One of the many overseas factories of Indorama is located in Denmark, the FiberVisions factory in Varde, focusing on fibers for use in non-woven products – like diapers and a surprising number of other products:


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ScandAsia – Nordic News and Business Promotion in Asia

Chinese Chamber of Commerce launches in Copenhagen

Chinese Chamber of Commerce launches in Copenhagen

On the 8th of May, a Chinese Chamber of Commerce (CCCD) finally opened in Denmark, with 16 founding members to cut the ribbon and promote trade between the two countries.

And the Chinese enterprises behind the chamber, 16 companies, has made investments in Denmark totalling to about 2 billion kroner and created over a 1.000 jobs in the process.

The chairman of the chamber is Steve Wang, who’s the CEO of Mille Food. He is confident that the CCCD will boost exports, create jobs and generate tax revenue:

“The mission is to assist Chinese companies in achieving success by providing the members with business support, policy advice, information sharing, member networking and other membership services,” Steve Wang explains in a press release.

The chamber officially opened on the 8th of May, and currently has the following members:

Bank of China (Luxembourg) SA

Huawei Technologies (Denmark)

COSCO shipping Lines (Denmark)

Air China Ltd Denmark

Mille Food

BGI Europe

China Telecommunications Corporation Denmark

CRRC wind Power (Shandong) Co., Ltd Denmark

Goertek Europe (Dynaudo)

China Classification Society CPH

Envision Energy (Denmark)

Fansun Denmark R&D Center

Denmark CRRC Tangshan Locomotive& Rolling Stock service

Accelink Denmark

Danish-Chinese Organic Food Center

Mingyang Wind Power EU R&D Cente

ScandAsia – Nordic News and Business Promotion in Asia

Nordic Innovation House opening in Singapore

Nordic Innovation House opening in Singapore

After gaining success with innovation houses in Silicon Valley and New York, Nordic Innovation has decided to fund the establishing of an innovation house in Singapore.

The house will be a “soft landing incubator” meant to give Nordic companies seeking fortune in Singapore an easier lift-off. It’s meant for small and medium sized companies who are new to the Singapore market or companies who see the benefits of a being part of a Nordic community.

Read also: Norway-Asia Business Summit 2018 Detail

Through the innovation house, “Nordic companies can get access to a Nordic community in important international hubs and the services offered will be complementary to what already exists through the different national trade organizations in the Nordic countries,” according to the press release.

Svein Berg, Managing Director of Nordic Innovation, naturally has great faith in the project:

“The incubators are meant to be a service for new and established Nordic companies with the high potential for international growth and success. They need to see the Asian markets as a good target market for their products and services and as a place to find important partners, they need to be ready to go global, tackle international markets and competition”, says Svein Berg in a press release.

But even though the news of financial support is generally met with a positive attitude, the funds needed to complete the innovation hub haven’t been met yet.

Nordic Innovation’s contribution only covers about 50 percent of the funding needed, meaning that the founders will have to look elsewhere for the remaining funds.

“The ambition is that each of the Nordic Innovation Hubs shall be economically self-sustained after the project period. The total grant is for 3 years”, says Svein Berg.

The contribution from Nordic Innovation was US$1,3 million. Part of the agreement goes towards establishing a smiliar innovation center in Hong Kong.

ScandAsia – Nordic News and Business Promotion in Asia

DABS invites to roundtable about the Philippines

DABS invites to roundtable about the Philippines

If you’ve managed to either start a succesful company or expand a company from your home country to SE Asia, chances are that the next logical step is to continue the expansion and move further into the region.

Manila. Photo : Anton Zelenov

But every country in this region has own set of rules one should be familiar with before taking the chance and entering a whole new market.

Therefore experience is gold, and the more the merrier.

If you are based in Singapore, here’s a chance for you to get some insider knowledge for at least one of the region’s markets – the Philippines.

On April 19th, the Danish Business Association Singapore (DABS) will host an early-morning, breakfast roundtable where the subject of the gathering will be the Philippine market and how to access it.

DABS presents the event as follows:

“The Philippine market has experienced high growth, fueled by a growing middle class, favorable demographics and large infrastructure projects. The projected growth for the coming years is an annual 6,5 percent. The economy is however still developing. While poverty is falling, it is still very much persistent.

How can companies succeed in the Philippine market? During the seminar in January, four success factors were pointed out by Mr Ulf Wennblom, country manager at Business Sweden. Building trust, partnering with the right people, investing in people and being patient.”

But this time the roundtable will be visited by Mr Joona Selin, Executive Director at the Nordic Chamber of Commerce of the Philippines, who will bring business cases, analyze success factors and identifying some of the pitfalls that newcomers might encounter.

The event will be hosted in collaboration with SwedCham and FBC.

For more information, visit DABS’ page for the event.

ScandAsia – Nordic News and Business Promotion in Asia

Hong Kong: ninth-most expensive place to be an expat

After dropping out of the top-ten in 2016, Hong Kong is now the world’s ninth-most expensive location for expatriates. In the Asia-Pacific region it is the second-most expensive location, only topped by Tokyo, Japan, which also comes in at number eight in the world. The list was recently released by the ECA international, which includes rankings of over 260 places worldwide.

“Hong Kong has now overtaken cities in Japan to reclaim its place in the top ten most expensive locations. Faster rates of price increases in Hong Kong combined with a strengthening of the dollar against the yen both contributed to Hong Kong leapfrogging many of the Japanese locations that were ranked above it last year.” Lee Quane, Regional Director – Asia, ECA International said.

Asian cities dominate the list of top 50 most expensive locations, making up over half the entries. Other Asian cities in the top 20 in the world are Seoul (11), Shanghai (12), Beijing (16), Yokohama (18), Nagoya (19), and Osaka (20). The three last Japanese cities were all in top-ten last year.

Singapore has fallen in the rankings and is now the 21st most expensive city surveyed. This is the first time since 2014 that Singapore has not featured in the top 20.

Three Scandinavian cities are also to find in the top-20: Oslo (7), Stavanger (10), and Copenhagen (14).

The most expensive city in the world for expats is Angola’s capital Luanda:

“The cost of goods typically purchased by international assignees in Luanda, which was already high due to poor infrastructure and high oil-fuelled demand, continues to be pushed even higher. The Angolan kwanza is increasingly overvalued, which pushes up relative costs; while the ongoing weakness of the black-market exchange rate has also inflated the price of imported goods,” Lee Quane explained.

ECA International is the world’s leading provider of knowledge, information and software for the management and assignment of employees around the world. ECA International has been conducting research into cost of living for over 45 years. It carries out two cost of living surveys per year to help companies calculate cost of living allowances so that their employees’ spending power is not compromised while on international assignment. The surveys compare a basket of like-for-like consumer goods and services commonly purchased by assignees in 262 locations worldwide. Certain living costs, such as accommodation rental, utilities, car purchases and school fees are usually covered by separate allowances. Data for these costs are collected separately and are not included in ECA’s cost of living basket.

Global top 20 most expensive locations
Location 2017 ranking 2016 ranking
Luanda 1 2
Khartoum 2 21
Zurich 3 3
Geneva 4 4
Basel 5 6
Bern 6 8
Oslo 7 14
Tokyo 8 1
Hong Kong 9 11
Stavanger 10 20
Seoul 11 12
Shanghai 12 13
Tel Aviv 13 19
Copenhagen 14 23
Jerusalem 15 22
Beijing 16 15
Kinshasa 17 10
Yokohama 18 5
Nagoya 19 7
Osaka 20 9
Top 20 most expensive locations in Asia-Pacific region
Location 2017 ranking 2016 ranking
Tokyo 1 1
Hong Kong 2 5
Seoul 3 6
Shanghai 4 7
Beijing 5 8
Yokohama 6 2
Nagoya 7 3
Osaka 8 4
Singapore 9 9
Busan 10 10
Guangzhou 11 11
Ulsan 12 12
Macau 13 13
Shenzhen 14 14
Taipei 15 15
Chengdu 16 17
Dalian 17 16
Qingdao 18 21
Nanjing 19 18
Xi’an 20 22

Danish consultancy’s Vietnam delegation trip

In early January 2017 the Danish consultancy AndersenB2B and Ho Chi Minh City Investment and Trade Promotion Centre (ITPC) arranged the Andersen Consult Business Delegation to Vietnam.

The organisers created an exciting B2B matchmaking event with the aim to proliferate the mutual opportunities of business collaboration between the Danish delegates and local companies in Vietnam.  AndersenB2B also reported that the Danish ambassador to Vietnam, Charlotte Laursen respectfully visited the delegation. On the first day of the delegation the ambassador gave a short introduction to Vietnam.

“The purpose of our participation was to expand our database of foreign companies interested in doing business with our Danish members of the AndersenB2B network. We have spread the word of AndersenB2B in Vietnam and the positive responses we received have been overwhelming,” reported AndersenB2B. “We are looking forward to facilitating contact and enabling business opportunities between our Danish members and our newly initiated Vietnamese companies – We are ready to follow up on the activities in Vietnam for the AndersenB2B-members who attended the delegation.“

AndersenB2B is a part of Andersen Consult, an internationalisation consultancy specialised in providing advice on establishment and development of enterprises in growth economies on the basis of Danish entrepreneurs’ knowledge and skills. The Andersen Consult mission is about internationalisation and reaching global business opportunities for our clients with a particular focus on emerging markets.

Andersen Consult emphasises a hands-on approach to the development of profitable business opportunities on our target markets. They work with all sizes of enterprises, utilising cluster approaches to manage larger scale tasks and provide quality assurance to the business processes via networking at home and abroad.

Andersen Consult state that their access to key decision makers, both private and public, is vast and they take pride in being able to take their clients from idea to invoice.

“Every market holds opportunities, no matter its level of development. Andersen Consult’s speciality is to identify the right opportunity and combine it with the right business entity. Andersen Consult is highly experienced in developing challenging and eye-opening business missions where the key objective is matching business-ready entrepreneurs.”