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London, June 1, 2011 - (ACN Newswire) - Asia's foremost thought leaders, business executives, academics and government officers convened in London on 26 May 2011 to discuss and debate the growth, challenges, and opportunities in Asia following the global economic crisis.
The Sixth Asia Business Forum is a flagship event of the Asia Club of London Business School. The central theme for the forum reflects on the abundance of emerging opportunities in the region. Having recovered strongly from the economic malaise of 2008/09, Asia will continue to evolve and transition to become an important driver of future economic growth. The forum seeks to highlight Asia's growing trends and areas of promise for businesses.
The Forum started with a welcome address by Sir Andrew Likierman, Dean of the London Business School, who highlighted the importance of Asia Business Forum as a platform for delegates from governments, businesses and media to discuss and debate latest economic and business development in Asia. He stressed the need to exchange views on viable options and to explore practical approaches and experiences to create value in the world's fastest growing region.
Four panel topics discussed in the forum were:
-- Asia Economic Outlook
As Asian economies grow, they face a set of unique challenges. The recent global economic turmoil has only added uncertainty as to how the world economy will change. The panellists, which comprised Tan Sri Dr. Munir Majid, Chairman of Malaysia Airlines, Karen Ward, Senior Global Economist of HSBC, Jen Larsen, Chief European Economist, RBC Capital Markets, and George Magnus, Senior Economic Advisor of UBS Investment Bank, discussed the economic outlook and regulatory issues facing the various economies in Asia, gender imbalances, as well as the role of women in economic development in Asia. George Magnus presented his views that "Asia is fulcrum of the great economic convergence between the East and the West, marking a reversal of 250 years of economic and political history. But sustained success, especially in the aftermath of the financial crisis, depends on economic and political reforms which will test the mettle of Asian institutions".
-- Luxury Goods in Asia
One of the key factors to achieving success is to understand Asian consumers beyond mere demographics and to acknowledge that the notion of luxury differs very much between the East and the West. Mimi Tang emphasized that luxury is about experience and not just the price on the tag. The CEO of PPR Asia Pacific believes in differentiating Gucci from its competitors by providing good customer experience. Joseph Wan, CEO of Harvey Nichols noted that luxury is interpreted differently globally and finds that the number middle market consumers is still too small in China for Harvey Nichols to enter the market. He also highlighted the problems of the luxury industry in China including rapid increase in operating costs, issues with legal systems regarding intellectual property and the high import duty on luxury goods into the country.
-- Private Equity in Asia
The landscape for Private Equity Deals is ever changing in Asia especially after the crisis. Tan Sri Dato' Azman HJ. Mokthar, Managing Director of Khazanah Nasional, the sovereign wealth fund of Malaysia, emphasized the increasing importance of investing in quality deals which have socioeconomic impact. Sandiaga Uno, Managing Director of Saratoga Capital, shared why Asian emerging markets are becoming an attractive investment destination, with Indonesia, for instance, having the largest Blackberry user base in the world. Douglas Clayton, CEO of Leopard Capital, shared how investments in food products and agriculture are becoming attractive in Asian frontier markets. Meanwhile, Anubha Shrivastava, Managing Director, Asia, at CDC Group discussed CDC's role in investing in projects in developing Asian economies, while Takeshi Kiriyama, CEO of the Development Bank of Japan (DBJ) Europe, discussed private equity investments from a Japanese perspective.
-- Corporate Innovation in Asia.
The Corporate Innovation Panel discussed the challenges and strategies regarding setting up business and driving innovation and tapping the new opportunities in a global market. David Sung-Wong Song, Head of Samsung UK, shared his experiences on innovation in Consumer electronics in Samsung; Davy Hwang, Vice President of Johnson & Johnson, Paul Lee, Global Director, Deloitte Research, TMT, and Cosmo Takamatsu, Partner of Booz's company addressed the innovation trends in health care, TMT sectors and the experience from Korean Japanese companies on reverse innovation strategies.
The day was wrapped up by the chairman of the forum, Tsukasa Tokikuni, with a note that the connections among each individual are the foundations for continued peaceful growth. The forum welcomed top-class speakers from 10 different countries, meeting with more than 150 audiences from more than 30 countries. The discussions that took place during the day showed that the participants will lead the ways in building the important international connections.
For more information on the Asia Business Forum or to participate in the future forum as delegates, please contact Danielle Poh (dpoh.mba2011@london.edu) or Kim Tay (ktay.mba2011@london.edu).
Contact:
Isa Kwok
Tel: +852 2114 4350 / +852 9492 8298
Email: isa.kwok@sprg.com.hk
Fax: +852 2114 0880
Iris Pang
Tel: +852 2114 4992 / +852 9226 9011
Email: iris.pang@sprg.com.hk
Fax: +852 2114 0880
Katherine Lakeland
Press Officer
E: klakeland@london.edu
T: + 44 207 000 7112
Topic: Trade Show or Conference
Source: London Business School
Sectors: Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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