Asia's Industrial Ascendancy

Today, the growth of industry in Asia is an evidence of a high level of economic dynamism and the region’s growing status as a global leader. Comprising developed economies as Japan or South Korea and a rapidly growing region, Asia's industrial sector has been experiencing a robust growth, propelled by different factors. One of the main drivers of industrial growth in Asia is the population which is huge and besides it provides the market for the finished industrial goods. With the advantage in labor force, in addition to the increasing urbanization and high income level, industries have been experiencing high demand for products and services which has consequently increased industrial production and manufacturing activities.

Besides, Asia's regional position as the main trade center implies it to be a manufacturing and exporting powerhouse. The association of the region with the global supply chains is strengthened by the infrastructure development and trade agreements. This is enabling the countries of the region to exploit their competitive advantages in manufacturing and production. This has created variety of specialized manufacturing clusters that now contribute a substantial amount to the industrial production in the region. Besides, Asian countries' industrialization, innovation, and technology adoption promotion initiatives taken by the government have indeed been key to the region’s industrial development. Many nations throughout this region are spending a lot on infrastructure development, research, and skills training to make them competitive and attract foreign investment in their industries.

In this edition, we talk about the top companies that are redefining the future of industry. After thorough examination of selected fields, Asia Business Outlook has uncovered the companies that have gained the edge through the exemplary approaches they have taken. Being one of the best examples of excellence in their fields, these companies have proved to be of great value among all by having a strong and never-ending dedication to their customers.

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