News from 2014-11-03 / DEG
DEG attends International Suppliers Fair
The focus of this year's International Suppliers Fair (IZB) in mid-October in Wolfsburg was on the Association of Southeast Asian Nations, ASEAN. A total of 821 exhibitors from 29 countries gathered at the automotive supplier industry's leading fair. DEG was also present and attended the International Automotive Congress, which was held during the fair. Furthermore, DEG hosted a business breakfast on the opening morning of the IZB.
The ASEAN region – an interesting and very heterogeneous market
At the International Automotive Congress, experts from the worlds of business, technology and politics provided insights into the ASEAN automotive market. This association of states is the world's third largest free-trade area and the growing prosperity of its countries is fuelling a rising demand on the automotive market. The goal of the congress, organised by the Wolfsburg AG, was to offer automotive manufacturers and suppliers insights into the heterogeneous ASEAN area, and in doing so provide practical tips and guidance for companies planning to invest in Southeast Asia.
Incentives for foreign investors
Cornelius Thor, Head of DEG's German Corporates Department, presented promotional and financing solutions at the congress, in conjunction with the German-Thai Chamber of Commerce. "Many ASEAN countries are striving to attract foreign investors and therefore offer special incentives for building production facilities," explained Thor.
At the business breakfast on the first day of the IZB fair, DEG showcased its cooperation with the special adhesives manufacturer, Jowat. The adhesives manufactured by the Detmold-based company are applied in the automotive industry, as well as in other sectors. Ralf Nitschke, Member of the Jowat AG Board of Directors, and Cornelius Thor reported on how the company has successfully expanded its activities in Malaysia using DEG funding.
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