As advanced manufacturing technology providers look for opportunities to expand in international markets, there’s a renewed interest in Southeast Asian countries such as Indonesia, Malaysia, Thailand, the Philippines, Singapore, and Vietnam. To help AMT members grow in these areas, Mike Lauer has been named the director of the newly formed Southeast Asia region for the AMT Global Services team.
In 2022, the United States invested $37 billion in Southeast Asia, with a significant portion going into manufacturing, according to a 2023 report prepared by United Nations Conference on Trade and Development and the ASEAN Secretariat.
“Southeast Asia is the seventh largest consumer of machine tools in the world, so there’s a lot of sales potential,” Lauer says. “For two decades, AMT Global Services has had a footprint in China and India, so it’s a natural next step to expand elsewhere in Asia.”
Opportunities in Southeast Asia are primarily driven by goals for higher precision manufacturing and turnkey automation. Each country is finding specialty niches in different sectors. For example, Thailand is growing in automotive manufacturing, Singapore is a leader in aviation maintenance/repair/overhaul, and Vietnam and Malaysia have become hubs for electronics manufacturers such as Samsung and Intel.
For manufacturers considering expanding business in Southeast Asia, Lauer will be speaking at the International Briefing Breakfast at IMTS on Sept. 11 at McCormick Place in Chicago. The event features networking with AMT members active in international business and updates on the latest international market conditions.
How to grow in Southeast Asia
Lauer shares a few tips to develop successful international growth strategies in Southeast Asia:
1. Cultural understanding is crucial to doing business in Southeast Asia. The region’s diversity means each country speaks its own language and has various professional and governmental nuances. Now located in Bangkok, Lauer has lived and worked in Asia for the last 25 years, giving him a first-hand understanding of the many cultural norms and languages spoken in the region.
2. Market access is key to building targeted relationships. AMT’s direct sales program is custom designed to generate qualified leads and get introductions to potential customers in Southeast Asia.
3. Sending U.S.-based service technicians overseas is time-consuming and expensive. Lauer helps companies hire local professionals for responsive technical service. Plus, demonstration showrooms are available for training and seminars.
4. Developing sales and importing channels with qualified foreign distributors and agents is facilitated by AMT’s international staff. They have knowledge of the local markets and major players in the industry to offer support to navigate these markets effectively.
5. Bonus Tip: For those attending IMTS 2024, Lauer recommends Arun’s Thai Restaurant in Chicago for the best gourmet Thai food outside of Thailand in an authentic setting. Reservations are highly recommended.
Contact Mike Lauer to learn about ways to expand your business into Southeast Asia. To see Lauer at IMTS 2024, register to attend AMT’s members-only International Briefing Breakfast at IMTS on Sept. 11.
Are You an AMT Member Coming to IMTS?
For the latest industry intelligence in foreign markets and to learn more about all of AMT’s Global Resources, attend the members-only International Briefing Breakfast at IMTS 2024 on Wednesday, Sept. 11, at 7:30-9:30 a.m. For more details, contact Achilles Arbex at AArbex@AMTonline.org.
