Despite its problems, we've seen an unprecedented drive for
change by the country's young government. Reform at every
level, including financial regulation and fiscal affairs, has led
to record FDI; Mexico has left investors with no doubt that it is
preparing to become a competitor on the world economic stage.
Our team in Mexico has seen the improvements first-hand but
recognises there are still
challenges to be overcome. O'Neill himself questions
whether the excitement around Mexico might actually be a disservice
to the country, since high expectations are often disappointed. But
it's hard not to be optimistic given the pace of change.
TMF Group's Global Director of Business Development Jochum
Haakma recently joined a
Dutch state visit to Indonesia. Although the country's boom
growth rate is set to continue, Haakma points out: "[Until]
the authorities do more to cut red tape, especially for
international companies, as well as providing adequate
infrastructure to facilitate ease of doing business, Indonesia is
at risk of remaining where it is today: a potential economic
This is reiterated by O'Neill; after all, as the fourth
largest country in the world it faces significant hurdles.
"But challenges and opportunities sit side by side",
concludes the economist – something our film on doing business in Indonesia
Held up as "Africa's hope", Nigeria was recently
crowned the continent's largest economy and the IMF predicts
strong growth at 7.4% GDP this year.
The drawbacks are obvious with corruption, poverty and
infrastructure numbering among them. But Nigeria's Central Bank
Governor insists that economic development along with improvements
in education will help to right these issues.
There is certainly a growing trend of expansion into Africa. It
seems to feature in many growth plans and we'll be looking to
list Nigeria as one of our office locations soon.
Wherever in the world you're looking to operate, there is
bound to be challenge as well as opportunity. IDC's whitepaper
on Avoiding the pitfalls of international expansion shows
this and highlights the benefits of working with a third party
provider like TMF Group, who can smooth the way for international
TMF Group, London, UK
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