□ 文/姚博海

By Henry J. Schumacher

“我的偶像是陈欧”“东盟合作人”的中国印记

□ 文/姚博海

马来西亚Hermo公司，将中国聚美优品作为模仿对象

“我的偶像是中国的陈欧”马来西亚Hermo公司创始人Ian Chua丝毫不掩盖他对陈欧的崇拜。尽管聚美优品遭遇了公司史上最严重的信任危机，但在东盟，这位入选福布斯亚洲《30位30岁以下创业者》的80后正在试图缔造另一家聚美优品。

在东盟，和Ian Chua相似的创业者还有很多。马云、马化腾等中国式创业人物正在成为这个地区创业者心目中的偶像。他们当中你可以发现许多熟悉的商业模式：东盟版的去哪儿、今日头条、淘世界、美团网……伴随着东盟经济共同体的成立，固有的传统经济模式的篱笆正在被拆除，当移动互联网这个新生事物开始冲击这个夹在中国与印度之间被“遗忘”的市场时，淘金者们资本盛宴才刚刚开启。

5.6亿人的“第一次”

夹在中国与印度中间，让东盟常常被掩盖在中国与印度崛起的光芒之下。当中国的互联网开创者们开始在华尔街讲述他们的梦想，印度软件工程师们开始“统治”IT世界时，东盟大部分人还没有使用过电脑。

“东盟很多年轻人没有电脑，第一台电脑就是手机。很多企业没有互联网网站，给商业计划书时就是一个手机端展示。”戈壁创投（GOBI）创始合伙人及管理合伙人曹嘉泰介绍。这是似曾相识的一幕，在柳传志（联想集团创始人）最初创业的过程中，家用电脑代理是联想的主要业务，因为大部分中国人脑海中的电脑还是躺在库房里笨重的机器。

对于像曹嘉泰这样的风险投资者来说，这是最好的冒险乐园。市场的空白就是最大的机会。如同2002年他创立戈壁创投一样，在中国的互联网红利中先后投资了华视传媒、Camera360、途牛等项目。现在，戈壁的东盟基金正在复制当年中国的轨迹。

2010年，曹嘉泰成立了戈壁的第一支东南亚基金，同时他也将家迁到了马来西亚。对于喜欢上海菜的他来说，除了要适应混搭风格的印度菜和娘惹菜外，更为重要的是如何能够在一片“处女地”的东盟寻找到机会。

东盟对于中国企业的重要性不言而喻。“途牛总收入的15%来自于东盟；Camera360超过5亿用户中，1/3的用户是在东盟，印尼有5000万用户，马来西亚有1500万用户。马来西亚总人口是3000万，也就是说，每两个马来西亚人中就有一个Camera360用户”曹嘉泰介绍。

在拓展东盟市场的6年时间里，曹嘉泰的收获颇丰。投资的22家公司中，包括了O2O（线上+线下）、时尚、电商、在线旅游、企业服务、新媒体、移动互联网等各个领域。在其最早一期基金投资的8个项目中，3个完成退出，平均IRR（内部收益率）达到了68%。对于大多数VC（风险投资）而言，这是一个梦寐以求的回报。

10个市场的合纵连横

高额回报同样伴随着巨大的挑战。如果只是简单地将中国或者印度市场的投资经验照搬到东盟，那么冒险家们的投资可能会血本无归。看似巨大的市场其实被分割为10个不同的个体：东盟不同国家拥有不同的宗教，泰国佛教，菲律宾天主教，印尼、马来西亚以伊斯兰教为主。不同的宗教，不同的人种，不同的法律规则，也有着不同的新机会。

Tripfez是一家基于穆斯林旅游的网站，他们的模式类似于中国的“去哪儿”网，为穆斯林客户们提供旅游服务。曹嘉泰介绍，全球旅游产业目前每年有万亿美元的消费需求，但其中穆斯林只占据消费比例的4.8%。“穆斯林人口占到世界的1/4，但服务于穆斯林的产品，尤其是互联网产品很少，这给了像Tripfez这样的公司机会，穆斯林旅游市场几乎是一个零竞争的蓝海行业。”

各家VC们也都在摸索自己的适应法则。投资与整合分散在各国的龙头企业是东盟投资者们青睐的一种办法。马来西亚的Hermo公司是一家专注于女性化妆品的电商，创始人Ian Chua于2012年从游戏代理起家，随后发现东盟女性消费需求巨大，转而开始做女性电商，并将聚美优品作为模仿的对象。

与Hermo类似的还有印尼女性电商Orami、新加坡/马来西亚两地女性电商Nuren、新加坡时尚电商Zarola。由于东盟本地多元化，很容易受到外部文化的影响，比如80年代东盟受到日本文化影响，近期则是韩国与中国文化影响。这其中，女性消费增长迅速，除了韩国的化妆品还有中国的日用品。

基于这种判断，戈壁创投东南亚基金分别投资了Hermo和Orami两家公司，希望未来将这些公司整合为一家能够覆盖整个东盟市场的巨头型公司。

资本“灌溉”创业种子

2016年3月，戈壁创投宣布成立了第二只东南亚基金。其合作伙伴正是当地的马来西亚风险投资管理有限公司（MAVCAP）。双方联合成立1500万美元的超级种子基金，其主要投资方向为东盟市场的种子期企业。

在中国，1500万美元可能只够一个项目的早期融资。但在东南亚这笔钱可以分散到许多项目中。目前，新基金已在马来西亚、印度尼西亚和越南完成了五项投资，分别是婚庆和育儿电子商务网站Nuren、餐厅预定服务平台Offpeak、按需服务平台RecomN、旅游众包网站Triip，以及青年实践与活动对接平台YouthsToday。2016年12月，GOBI与MAVCAP的合作又取得了新进展。

在资本的推动下，越来越多的东盟年轻人开始加入到创业大军中。一个非常有意思的现象是，东南亚的创业者大多在35岁以下，很少有传统行业转型创业的人。

伴随着智能手机终端的普及，越来越多的东南亚年轻人的生活与互联网相结合，尽管在他们的手机中出现更多的是类似于WhatsApp、Facebook这样国外的APP，但本地的创业者们正在借助资本的力量开始尝试分享这片“蓝海”市场。

上文提到的Offpeak，类似于中国的大众点评。它的四个合伙人此前分别来自于汽车零售、五金、教育和互联网行业。多元化的团队组成也表明东南亚的创业者们正在寻求线下与线上、传统行业与互联网对接的可能。他们在早期项目上线后，拿到马来西亚政府创业扶持基金的20万林吉特后，又获得了戈壁创投的80万美元投资。

越来越多像戈壁这样的VC加入到东盟新兴的互联网创业大潮中，让年轻的创业者们迎来了最好的创业机会。Triip.me创始人Ha Lam说：“在越南，创业是一件非常困难的事情，中小企业申请贷款非常困难，如果没有戈壁的投资，我的早期资金可能早已不够维持创业”。

16.4%的GDP与90%的尝试

除了创业者，为了在中国与印度之间的中间带里找到新的突破口，东盟各国政府在吸引更多投资者上可谓不遗余力。

MDeC（马来西亚多媒体发展局）是马来西亚政府主导的科技服务型平台。它致力于通过各类支持措施，在2020年前将马来西亚打造成电子商务的区域中心。在马来西亚，MDeC有超过40家机构网点，其主要职责就是帮助国外企业在马来西亚进行投资。

这有点类似于中国改革开放时的吸引外资。MDeC并不直接提供资金，而是包括知识产权申请帮助、关税、企业贷款等一系列服务性工作。MDeC为国外企业提供的政策非常优惠，比如，外资企业可以在本地投资百分百控股（仅限IT公司），可以免除多年关税等。

据MDeC负责人Najat Ahmad Marzuki介绍，享有以上的权益必须入驻MDeC旗下MSC Malaysia平台，到2016年已经有229家企业入驻，其中亚洲公司占到8%。包括了像华为、中兴通讯、清华同方共54家中国大陆企业。

值得关注的是，数据显示马来西亚的 ICT（信息和通信技术）产业对GDP的贡献为 16.4%，且大部分来自MDeC认证的企业，其中约90%为中小型企业。和中国相似的经济变革正在东盟发生。

·摘自《投资界》

ASEAN Integration at the End of 2016

By Henry J. Schumacher

The launch of the ASEAN Economic Community (AEC) in December 2015 was a milestone for ASEAN economic integration, which is, however, an ongoing process. The AEC includes 10 of the fastest-growing economies globally, with an average growth rate of over 5 percent in the past years, and as a group represents the seventh-largest economy globally. High GDP growth in ASEAN member states, combined with a dynamic demographic and increasingly skilled work force, currently renders ASEAN one of the most attractive investment and trade destinations for European business. The change in investment trends seen in the past years, with many manufacturers closing down operations in China and relocating to ASEAN, is evidence of the increasing opportunities the region has to offer.

Therefore, the integration and facilitation of intra-ASEAN movement of goods and people that the AEC envisions and the subsequent interconnection of 10 highgrowth, high-potential markets is seen as a unique chance for business to capitalize on the opportunities that a fast-growing market of approximately 630 million people has to offer. Similarly, there is much to be gained by national economies within ASEAN from increased intra-ASEAN trade and investment, including intensified economic growth, employment generation and the creation of regional value chains. Taking into consideration that only 24 percent of trade registered by ASEAN memberstates is currently intra-ASEAN, there is much scope for developing intra-ASEAN business and setting up regional hubs that can serve the ASEAN market. European Union (EU)-ASEAN Trade and Investment relations are already well established. ASEAN is the EU’s thirdlargest trade partner outside of Europe and the EU is ASEAN’s second-largest trading partner after China. Therefore, the EU business community in Europe and in the Philippines recognizes the great benef ts and importance of further integrating the region and intensifying cross-border trade and investment both within ASEAN borders and between ASEAN and the EU. Taking into consideration that the Philippines will be chairing ASEAN in 2017, we believe it is an excellent opportunity for thePhilippines to lead the way toward further ASEAN economic integration.

Trade facilitation

While almost all products in the region are now traded tariff-free, or with a tariff in the range of 0 percent to 5 percent, nontariff barriers to trade still remain an important impediment to intra-ASEAN trade for many products. Therefore, it is important that nontariff barriers, especially the Rules of Origin, product standards and testing, are addressed through deeper harmonization between member-states. We strongly support the alignment of regulatory processes and the adoption of Mutual Recognition Agreements with other ASEAN member-states on standards and testing for key industries, such as health care, food and beverage and automotive. The cosmetics sector stands as a best practice for the harmonization of standards in the above-mentioned sectors. Specifically, ASEAN standards were adopted and implemented in the Philippines through the adoption of the Association of Southeast Asian Nations Harmonized Cosmetic Regulatory Scheme and ASEAN Common Technical Documents [Food and Drug Administration (FDA) Administrative Order (AO) 2005-0015] and the “Implementation of the ASEAN Harmonized Cosmetic Regulatory Scheme and ASEAN Common Technical Documents” (FDA AO 2005-0025).

In focus: Automotive sector

The automotive sector, including vehicles and parts, currently incurs major non-tariff barriers in the Philippines and the region, due to the lack of alignment in product standards. We strongly recommend to the Philippines to grasp the opportunity as ASEAN chair in 2017 to fully align national standards and the approval process to the United Nations Economic Commission for Europe (UNECE) regulations (currently, while the Department of Trade and Industry-Bureau of Product Standards has harmonized certain PNS standards to UNECE vehicle regulations, there remain vehicle parts for which standards have not yet been harmonized). The Philippines should lead the way for the adoption of a mutual recognition agreement in automotive standards across ASEAN in support of establishing common recognition of standards that are aligned to UNECE standards. It is worth noting that certain ASEAN member-states already recognize UNECE standards for automotive parts.

Implement an ASEAN Single Window

Rapid implementation of a fully functional ASEAN Single Window will increase cross-border, intra-ASEAN trade, and ultimately contribute to economic growth and regional integration. Imperative to the Philippines’s participation in an ASEAN Single Window is first the establishment of a comprehensive, dynamic, online National Single Window.

Ease existing customs procedures across ASEAN to ease intra-ASEAN trade

There are numerous operational and procedural obstacles within Customs procedures across ASEAN memberstates that handicap intra-ASEAN trade. We believe that as chair of ASEAN, the Philippines should drive intra-ASEAN coordination on Customs procedures to reduce operational bottlenecks, such as the acceleration of the implementation of the ASEAN Customs Transit system and the adoption of electronic data interchange for customs declaration and clearance. The recent enactment of the CMTA in the Philippines includes best practices, in line with the WTO Trade Facilitation Agreement and WCO Revised Kyoto Protocol, which could be adopted across ASEAN in support of trade facilitation.

Protect IPR and clamp down on illicit trade

The single market offers increased opportunities for intra-ASEAN trade in illicit and counterfeit goods. The institutionalization of cooperation across ASEAN member-states to protect IPR is thus an important element to the success of the AEC in facilitating intra-ASEAN trade and investment.

Implement regional harmonization of standards and regulations

In addition to the benefits on trade facilitation, the mutual recognition and adoption of common standards and regulations across ASEAN is important for investment facilitation. The development and strengthening of regional value chains is dependent on common standards between countries. The ASEAN Harmonized Cosmetic Regulatory Scheme should serve as a best practice.

Ease long-term investment constraints

ASEAN member-states need to collectively address investors’ concerns by agreeing on measures in support of long-term intra-ASEAN investments. One option could be to build upon the agreement reached by Singapore, Malaysia and Thailand to facilitate more cross-border fund-raising, crossborder product distribution, crossborder investment and to facilitate market access by intermediaries.

· Source: www.businessmirror.com.ph