AN INTRODUCTION TO Doing Businessin ASEAN Special Focus ASEAN Transshipmentand US Tariffs – BalancingOpportunity and Risk THE DOING BUSINESS IN ASIA GUIDES SERIES Available to Download Now: Doing Business in Indonesia and Singapore Portals •China guide•Hong Kong guide•India guide•Indonesia guide•Singapore guide•UAE guide•Vietnam guide Our latest online Doing Business in Indonesia and SingaporePortals consists of 100+ guides, videos, publications, andtools that are practical and easy to navigate, covering: WhyIndonesia/Singapore,Regions to Invest,Sector Insights,How to Setup, Tax, Audit and Accounting, HR, Recruitment,PEO, and Payroll, News, Events, and more. This edition of Doing Business in ASEAN was produced by a team of professionals atDezan Shira & Associates, with Ayman Falak as Editor.Creative design of the guide was provided by Aliya Latisha Adiyanto. © 2026 Dezan Shira & Associates Disclaimer The contents of this guide are for general information only. For advice on your specific business, please contact a qualified professional advisor.Copyright 2026, Asia Briefing Ltd. No reproduction, copying, or translation of materials without prior permission of the publisher is permitted. About Dezan Shira & Associates At Dezan Shira & Associates, our mission is to guide foreign companies through Asia’scomplex regulatory environment and assist them with all aspects of establishing, maintainingand growing their business operations in the region. Since its establishment in 1992, DezanShira & Associates has grown into one of Asia’s most versatile full-service consultancies withoperational offices across China, Hong Kong, India, Singapore and Vietnam, as well as liaisonoffices in Italy, Germany and the United States, and partner firms across the ASEAN region.With over 30 years of on-the-ground experience and a large team of professional advisers,we are your reliable partner in Asia. Preface ASEAN enters 2026 amid a period of strategic recalibration. The re-imposition of U.S.reciprocal tariffs under Executive Order 14257 has affected all member economies,with rates generally between 10 and 20 percent, depending on their trade balance withWashington. While the measures have increased export costs and compliance demands,they also indicate the region’s enduring importance in global supply chains — offering firmsa credible diversification path beyond sole reliance on China. ALBERTO VETTORETTI Managing PartnerDezan Shira & Associates Despite these pressures, ASEAN’s fundamentals remain sound. The Asian DevelopmentBank (ADB) projects Southeast Asia’s economy to expand by 4.3 percent in 2026, drivenby resilient domestic consumption, infrastructure investment, and a growing servicessector. This resilience provides the backdrop for a more strategic adjustment — wheregovernments and businesses alike are shifting focus from short-term expansion to long-term competitiveness and structural reform. With the formal admission of Timor-Leste asASEAN’s eleventh member in October 2025, the bloc’s footprint now extends farther east,signaling both deeper regional integration and new frontiers for investment in infrastructure,logistics, and energy. These reforms signal ASEAN’s intent to evolve from a cost-driven manufacturing base intoa predictable, compliance-oriented operating environment. For investors, the implication isclear: competitiveness in the region now hinges less on incentives and more on structure,governance, and efficiency. The region’s ports and bonded-zone facilities are likewise drawing renewed attention asmanufacturers reassess where to locate intermediate processing to remain tariff-eligible.Transshipment is increasingly part of that conversation — not as a way around tradebarriers, but as an emerging channel for limited value-added processing within ASEAN.Although progress remains uneven, projects such as digital certificates of origin, Singapore’sblockchain pilot, and customs-modernization programs in Vietnam and Malaysia point tomeasurable improvements in trade facilitation and documentation standards. This publication, compiled by experts at Dezan Shira & Associates, introduces thefundamentals of investing in ASEAN and provides valuable insights on navigating thisdynamic market. Our practice specializes in foreign direct investment services, includingcorporate establishment, business intelligence, tax advisory, compliance, accounting, andfinancial review services for multinationals investing in emerging Asia. CONTACT An Introduction to Doing Business in ASEAN 2026 covers the following: Dezan Shira & Associatesasean@dezshira.comwww.dezshira.com •Corporate establishment;•Tax and accounting;•Human resources and payroll; and•Audit and compliance. What’s New in This Guide ASEAN countries have continued to advance policy reforms through 2025 and into 2026, witha shared focus on improving regulatory efficiency, transparency, and cross-border investmentintegration. Indonesia Indonesia conti