What 4 developing countries are catching up in business and why?

Recently the UN has stated that developing countries will be the main drivers of economic growth in the near future. Currently, they are accounting for over half of world economic growth with countries in south and east Asia being the most active contributors.

Malaysia

The Malaysian economy has been through a substantial period of development. The economy has become very stable and there have been substantial developments in infrastructure. Malaysia is one of the more mature and strong economies in the developing world. There has been an extended period of political stability although there are still ongoing tensions with political opponents and there are some questionable Government practices. However, in the financial regulatory environment, the country has made significant steps and the banking sector and financial markets are able to operate efficiently and effectively
without issues of corruption or illegal practices. The Government has a stable taxation regime and provides a stable environment for businesses to develop. Foreign investment has flowed into the country and the cities are well developed international environments.

Senegal

Senegal has become one of West Africa’s key economic hubs. It is a stable democracy with a range of suitable Government and regulatory systems in place for taxation, investment and to support the financial system. It had been experiencing relatively low rates of growth but the Government implemented a new plan in 2014 to change this and the country is already seeing the benefits with growth in exports and broader industry base. The West African region is stable and this has also helped the development of some of Senegal’s neighbors. By offering a stable and well-regulated environment the prospect for foreign
companies to invest has improved. The Government has also committed to infrastructure projects that will add to the strength of the economy. Senegal will continue to reap the benefits of a stable system in a region that has been building its readiness for growth.

Paraguay

Paraguay has been a powerhouse of an economy for several years. It has reinforced the stability of its financial and political establishments while at the same time continuing to work on a range of poverty reduction programs. It is a commodities exporter with good positions, in soybeans, corn, wheat, and beef. It has a strong banking sector with effective financial market oversight. There are many signs that the economy is maturing with ongoing increases in foreign investment as well as the Government being able to fund infrastructure projects. With continuing stability in this region there will be an opportunity for investors to be comfortable in long-term planning with the benefits being enjoyed across all levels of the community.

Bangladesh

The economy in Bangladesh has been growing rapidly for several years. With increases in export levels and infrastructure investment, as well as poverty reduction programs, the economy has been able to continue to develop and stabilize. Bangladesh has also experienced a substantial growth in investment, particularly in infrastructure projects. There have been developments in the energy sector which is of vital importance for increases in productivity as well as sustainable development. The economy will need to continue to develop with the employment market and changes in management practices requiring attention. There is still a lot of room for development in Bangladesh but with the Government committed to enhancing employment and the prospect of better infrastructure, there is substantial opportunity for the economy to continue to develop.

As infrastructure and financial regulatory environments mature many developing countries are able to take advantage and rapidly increase growth. To continue to develop their capabilities there needs to be further development in energy infrastructure as well as funding of education. This may involve some societal restructuring which will be a slower process but if the people are able to see the benefits that come from this there will be an ongoing change in business and the community.