MGA
15
“Trends in Canadian services business locations in Asia”
Capstone Client: Leah Littlepage
Canadian Services Coalition (CSC)
Supervisor: Deanna Horton (Deanna.horton@utoronto.ca)
Becah Sihan Wen: sihan.wen@mail.utoronto.ca
Jinyi Liu: jinyi.liu@mail.utoronto.ca
Tannuva Akbar: tannuva.akbar@mail.utoronto.ca
Yuan Fang: jessy.fang@mail.utoronto.ca
March 31, 2015.
Munk School of Global Affairs, University of Toronto
Executive Summary
Based on the research that has been conducted for the Munk School (“Mapping Canada’s
Footprint in Asia”) last year, there is no doubt that Canada’s services sector is taking
advantage of opportunities in Asia. However, official services trade and investment statistics
do not reflect the level of activities by Canadian services companies.
To investigate further, this Munk Capstone project report focuses on the professional
services sector in 16 countries in Asia, encompassing:




Financial sector
ICT sector
Legal, management consulting, accounting, customs, and other back office services
Engineering, architecture, urban planning and environment/geology sector
For each of the services companies identified, this project has used publicly available
information to examine factors such as the size of the company in Canada and its Asia
affiliate, markets/cities of greatest concentration, and how companies are established in
Asia. In each of these sectors we will analyze the market entry barriers, driving forces
behind the trends and their policy implications.
Below are some key findings for these sectors:
Financial sector: This sector thrives in mature local markets such as Hong Kong and
Singapore. The Canadian financial sector’s presence in Asia is long-standing. Financial
services, especially the insurance companies, have done well in Asia because the
companies pursue a long-term risk management approach, focused on Canadian brand,
good customer services, corporate governance and overall protection of their institutional
reputation. Another key finding is that the boom in Canadian financial services in Asia is
caused by massive demographic and urbanization shifts in places such as Japan, India,
Indonesia and China. Due to the push towards more consumption, countries are moving
away from an investment driven model to a consumption driven model, resulting in a growth
for more professional financial advisory services.
ICT sector: In this report, we define ICT services in three categories: software and
computer services, ICT wholesaling, and telecommunications. Most of the Canadian ICT
businesses are software and computer services, which provide business process
management and enterprise content management. Ontario is the leading province in the
Asian market in terms of ICT. Canadian ICT locations are almost evenly distributed in
China, India, Hong Kong, Singapore, Japan, South Korea, and Taiwan. A successful
collaboration of software and computer services companies requires data protection and
data proximity. While large multinational enterprises (MNEs) have their own value chain
patterns, SMEs are focusing on niche markets where they can offer innovative solutions.
MNEs have their customer service and support centers in capital cities and major first-tier
cities. Another interesting finding is that promising software and computer services
companies are expanding their R & D centers outside Canada, in places like India and
China.
2
Legal, management consulting, accounting, customs, and other back office services:
Companies in this sector mostly exist in the form of small sized offices due to their business
nature. Legal firms face barriers such as licensing restrictions due to different legal
jurisdictions and procedures. Some legal service companies expand their business by
cooperating with local law firms or setting up local subsidiaries, which hire local lawyers.
Others have local representative offices to create a ‘referral network’ to provide their own
specialties to local customers. Supplier services companies including logistics,
transportation and shipping companies have representative offices, which play an important
role in supporting their customer service. Consulting firms account for a relatively small part
of this sector, providing services in a variety of areas such as immigration consulting,
business consulting, patent consulting etc.
Engineering, architecture, urban planning, and environment/geology sector: This
sector offers a competitive advantage to Canadian firms because the Asian markets suffer
from poor quality control in infrastructure management. Therefore, foreign firms have an
opportunity to bring higher and improved international standards and professional
management expertise into Asian markets. Furthermore, most Canadian construction
companies tend to have strong partnerships with local government or with local firms to
directly undertake construction projects. Another interesting finding is that, as a subsector,
cleantech companies have a strong presence in Asia due to favourable local policies and
their comparative advantage in technology. Most of the Canadian cleantech firms are SMEs
and exist in the form of local offices providing customer services and/or promoting their
products.
This report then analyses policy implications of ongoing Trans-Pacific Partnership (TPP)
and Trade in Services Agreement (TiSA) negotiations for Asia.
Overall this report analyzed over 900 services company locations in 16 Asian countries.
Some parts of the data and policy analysis section of this report were gathered from primary
research with Canadian Services Coalition members. By addressing the information gap in
the Canadian services sector’s involvement in Asia, we hope that this report will be of
interest not only to CSC and its members, but will also be a useful reference tool for
governments and academic institutions.
3
Table of Contents
Executive Summary ............................................................................................................................ 2
Introduction ............................................................................................................................................ 5
Emerging Markets and Canada ...................................................................................................... 5
Financial Services Sector ................................................................................................................. 7
Business Nature ................................................................................................................................................. 7
Size ......................................................................................................................................................................... 7
Market Concentration ....................................................................................................................................... 7
ICT Services Sector............................................................................................................................. 9
Province of Origin .............................................................................................................................................. 9
Market Concentration ....................................................................................................................................... 9
Major Asian Markets ...................................................................................................................................... 10
Business Nature .............................................................................................................................................. 12
Legal, Management Consulting, Accounting, Customs, and Back Office Services
................................................................................................................................................................... 13
Market Concentration .................................................................................................................................... 13
Province of Origin ........................................................................................................................................... 14
Business Nature .............................................................................................................................................. 15
Engineering, Architecture, Urban Planning, Environment/Geology Sector ............. 15
Market Concentration .................................................................................................................................... 15
Province of Origin ........................................................................................................................................... 16
Business Nature .............................................................................................................................................. 17
Barriers in Asia ................................................................................................................................... 17
Commitments and Progress ......................................................................................................... 18
Policy Implications ............................................................................................................................ 19
Appendix 1- Methodology .............................................................................................................. 21
Appendix 2- Size Data ...................................................................................................................... 22
Appendix 3 –Barriers in Asia ........................................................................................................ 23
Appendix 4- Services Sector in Major Countries Data ....................................................... 24
Bibliograhphy ...................................................................................................................................... 27
4
Introduction
The need to fully understand the importance of the services sector is paramount, and how it
can drive growth and economic prosperity in this era of globalization is an essential study to
conduct. The Canadian services sector in Asia has drawn a lot of attention recently and
many organizations have published surveys and publications of where Canada stands with
the services sector engagement with Asia. This capstone project will be analyzing
professional services sectors in 16 Asian countries, derive conclusions on trends and
examine policy implications. To keep the scope of the project focused and manageable, this
project will highlight a few countries to demonstrate the Canadian footprint in Asia. There
are gaps in the literature and the statistics that are available. Nonetheless, given all the
resources and database we have, this project aims to fill in the void and truly assess the
Canadian services footprint in Asia.
Emerging Markets and Canada
2015 will be a very important year for the Association of Southeast Asian Nations (ASEAN)
countries because of the emergence of the ASEAN Economic Community (AEC). The AEC
aims to transform ASEAN into a region with free movement of goods, services, investment,
skilled labour, and freer flow of capital.1 The services sector has contributed to nearly half of
world exports when the inputs are accounted properly. For Canadian service companies to
take advantage of the Asian markets, a comprehensive data that provides a good
understanding of the opportunities and barriers is highly required. In order to penetrate in
the Asian markets and remain competitive, data on small and medium-sized enterprises
(SMEs) is necessary. The so-called “servicification” of the economy provides an enormous
number of untapped opportunities for SMEs that trade in services across the developing
world. With the rise of technology and outsourcing activities, even geographically isolated
countries can also play an important role in services sector and contribute to the global
GDP.2
In light of this, why is it necessary for Canada to pursue commercial interests in Asia?
Foreign Affairs, Trade and Development Canada identified places such as China, Hong
Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Thailand and
Vietnam as places with significant emerging potential for services sector.3 The Canadian
government affirms that these countries demonstrate high potential for economic growth,
foreign direct investment, technology and diverse labour force where Canadian businesses
have the best potential for success and have the ability to exert the greatest impact.
“ASEAN Economic Community” ASEAN. http://www.asean.org/communities/asean-economic-community
Arancha González, “Trade in services” International Trade Forum Magazine, last accessed April 15, 2014.
http://www.tradeforum.org/article/Trade-in-services/
3 “Global Markets Action Plan” Foreign Affairs, Trade and Development Canada, Last modified September 12, 2014.
http://international.gc.ca/global-markets-marches-mondiaux/plan.aspx?lang=eng#1a
1
2
5
Data Analysis:
Services Sector Presence in Asia
Others
1%
Thailand
2%
Taiwan
3%
Vietnam Indonesia
3%
3%
Philippines
4%
India
20%
Malaysia
4%
South Korea
5%
China
17%
Japan
9%
Singapore
13%
Hong Kong
16%
Province of Origin
Other
2%
AB
3%
PQ
24%
ON
39%
BC
32%
This capstone project began with data analysis to determine overall general presence and
specific sectorial trends of Canadian services sector in Asia. As for market concentration,
India and China have the most Canadian company locations. Hong Kong and Singapore
6
rank 3rd and 4th, surpassing Japan, South Korea and Malaysia. In terms of province of
origin, Ontario, British Columbia and Quebec account for more than 90% of the total
presence. Below are the descriptions of each sector with key findings:
Financial Services Sector
Business Nature
Canadian financial services have a strong presence in Asia. Major Canadian banks and
insurance companies, such as TD, RBC, BMO, Sunlife, Manulife and Scotiabank have been
able to establish successful businesses in most ASEAN countries. Insurance companies
such as Manulife and Sun life have a long institutional history in Asia and therefore, they
have more wholly and partly owned subsidiaries in places like Hong Kong and Singapore.
Insurance products and services in Asia include not just life insurance but also pension
plans, third party asset management, retirement planning and long-term investments for
other groups. With demographic changes and urbanization in Asia, demand for insurance is
going up in countries like Indonesia, Philippines and Malaysia. Whereas Japan and Taiwan
have very saturated markets for asset management due to accumulated wealth and
domestic competition.
Companies like TD, RBC, Scotiabank and CIBC have a large number of representative
offices in China and India. While Canadian banks have not penetrated in the Philippines, it
serves as a location for back office operations and data processing centres for other
jurisdictions for insurance companies such as Manulife.
Size
In terms of company size for financial services, there are three major categories: wholly
owned subsidiaries, joint ventures and representative office. Similar to headquarters and
subsidiaries, joint ventures have more employees and advisors and most joint ventures
exist in places like India, China, Malaysia, Philippines, Vietnam and Indonesia. Appendix 2
exemplifies the company size for joint ventures offices.
Market Concentration
If there is a strong hub for financial services in Asia, that would be Hong Kong. Hong Kong
has a strong domestic market and is an important corridor to the Chinese market.
Therefore, their relationship benefits Canada as “Hong Kong importers often take Canadian
products into China. Sales in Hong Kong can also be used to showcase Canadian products
and technologies to buyers in China. Hong Kong is a logical starting point for Canadian
firms interested in getting a foothold in Asia.”4 In terms of the services sector, Hong Kong
has relatively low costs for starting a business and highly efficient import and export
services. As Robert Cook, Senior Executive Vice President and General Manager, Asia
Manulife (international) Limited stated, “Hong Kong is the only truly international city in Asia
and one of the greatest business centres of the world. It has a peerless infrastructure and
“Trade Commissioner Service - Hong Kong, SAR” The Canadian Trade Commissioner Service.
http://www.tradecommissioner.gc.ca/eng/office.jsp?oid=117
4
7
has a uniquely business-friendly environment. Hong Kong is for these reasons the first
choice to locate a regional office for multinationals.”5
Hong Kong offers excellent commercial opportunities for Canadian firms that require a highlevel hospitable business environment. In 2013, Canada exported C$4.9 billion in goods to
Hong Kong, ranking as its 6th largest export destination for goods. Hong Kong companies
have cumulative investments in Canada of $7.1 billion.6
In a study done by Bloomberg, where it collected data from 11 sources, and 161 nations
were ranked on six broad criteria that included the cost of starting a business, the cost of
labor and materials and the cost of moving goods, Hong Kong tops the list for the most
enabling environment for operating financial services. The study also considered each
country's level of global economic integration in terms of the "readiness" of its consumer
base to participate in economic activity and "less tangible" costs such as inflation and
accounting adaptability.7
FINANCIAL SECTOR
Hong Kong
22%
Other Taiwan
7%
3%
Indonesia
4%
Thailand
4%
Japan
7%
India
10%
China
17%
Singapore
14%
Malaysia
11%
“Success Stories” Hong Kong Economic and Trade Office (Canada), http://www.hketo.ca/canadian-business-inhong-kong/success-stories/index.php
6 “Trade Commissioner Service - Hong Kong, SAR” The Canadian Trade Commissioner Service.
http://www.tradecommissioner.gc.ca/eng/office.jsp?oid=117
7 “Best Countries for Business 2013” Bloomberg, Last modified January 22, 2013.
http://www.bloomberg.com/slideshow/2013-01-18/best-countries-for-business-2013.html
5
8
ICT Services Sector
Based on the Industry Canada definition, for the purposes of this report, we define ICT as
the following three categories: software and computer services, ICT wholesaling, and
telecommunications. For Canadian ICT companies who are doing business in Asia,
software and computer services deal with business process management and enterprise
resource planning solutions. ICT wholesaling refers to businesses involved in distributing
computer hardware, software and computer-related electronics. The last category includes
telecommunication services such as cellphone, internet, TV, and network services8.
Province of Origin
PROVINCE OF ORIGIN
AB
4%
BC
14%
N/A
4%
ON
44%
PQ
34%
Given its role as the technology hub of Canada, it is not surprising that Ontario is leading
with 44% of all the ICT locations in Asia. The second largest proportion for the ICT sector
originates from Quebec with 34% and then British Columbia, which has 14% of all the
company locations in Asia.
Market Concentration
Canadian ICT locations are almost evenly distributed in Asia. China and India each has
18%, Hong Kong and Singapore each takes 17% of the Canadian ICT locations, Japan
accounts1 for 14%, and the rest goes to South Korea and Taiwan. We can observe that
market demand and infrastructure conditions are the two factors that determine Canadian
ICT companies locations in Asia.
"Archived — Defining the Information and Communications Technologies Sector." Government of Canada, Industry
Canada, Information Technologies and Telecommunications, Technologies Branch. Accessed March, 2015.
http://www.ic.gc.ca/eic/site/ict-tic.nsf/eng/h_it05097.html.
8
9
Market Concentration
South Korea,
Taiwan and
others
16%
China
18%
Japan
14%
Singapore
17%
India
18%
HK
17%
Major Asian Markets
According to the database, ICT has the largest proportion, with 255 locations, accounting
for 42.1% of all the Canadian service locations in Asia. When we look at specific countries,
ICT locations still account for the largest proportions in major countries such as Japan
(62%), Singapore (50%), China (38%), Hong Kong (37%), and India (36%). See appendix 4.
Countries in Asia have diversified stages of development for both individuals and
corporations. While India and China both have well-established ICT infrastructure, countries
such as Myanmar are still laying out their basic telecommunications infrastructure. China
and India have rising middle classes that are huge consumer bases for Canadian
companies. As the middle class is expanding rapidly, consumers within the younger
generation are demanding more affordable, innovative apps and computer services.
Meanwhile, as the impact of social media is achieving deeper penetration, there is a
growing market for Canadian ICT services, especially software and computer services
companies.
Hong Kong and Singapore are traditionally mature markets with strong ICT infrastructure
and policies, and consumers are interested in the latest software and applications 9. Japan is
home to many ICT multinational companies (MNEs). As Japanese ICT MNEs are
9
"Export, Innovate, Invest - The Canadian Trade Commissioner Service." Site of the Canadian Trade Commissioner
Service to Help Companies Do Business Abroad: Market Studies, Contacts Abroad, Services of Our Offices Abroad.
Accessed March 25, 2015. http://www.tradecommissioner.gc.ca/eng/document.jsp?did=145532.
10
expanding worldwide, its domestic market is increasingly requiring technologies in
accordance with world standards10.
Looking at the nature of the ICT sector, there are fewer political barriers to entry compared
to other sectors such as financial and legal services. The “Internet of things” and cloud
computing are the mainstream trends of the technology era. Moreover, the third platform,
which includes mobility, analytics and big data, and the social media business, are
revolutionizing the technology industry.
Facing growing potential markets and massive opportunities, Canadian ICT companies are
providing professional services to vertically integrated markets in areas of patent
intelligence, enterprise resource planning solutions, supply chain management, video
games and animations, and social media. 11 For instance, Surecomp is a Toronto based
software company that provides global trade solutions for banks and corporations. The
company partnered with a Chinese software company “Brilliance Technology Co., Ltd.” in
Beijing.12 These services infuse Canada’s traditional advantage industry with latest software
technologies to expand into the emerging Asian markets.
Another emerging niche area is the application of digital media software. The growing
demand for social media development in Asia also provides great opportunities for
Canadian ICT companies. Marketwired, a Toronto based software company, does social
communications, and social media analytics in first-tier cities in China including Beijing
(research center), Shanghai (representative office), and Hong Kong (Joint Venture
company), and also in Manila, Philippines (representative office) 13 . These examples
illustrate how Canadian ICT companies can tap into the Asian markets by utilizing Canadian
technological strengths and at the same time grasping new opportunities. Taking into
consideration all the emerging niche areas that need updated software applications, the
demand from the Asian market is growing rapidly.
Favourable policies of the governments: ASEAN has its ICT Master Plan 2015 which
emphasizes ICT infrastructure building, such as information security and intellectual
property right improvement. ASEAN also promotes the use of ICT in education and
government14. This shows the governments’ dedication to improving ICT infrastructure in
order to attract FDI, as well as to enhance government efficiency. According to global
consulting firm Accenture, Canada has led the world in E-government15. In China, the 12th
Five-Year Plan designates the ICT industry, or "next-generation information technology
(IT)," as one of China's strategic emerging industries (SEIs). Government’s top-down
funding and pilot projects are implemented in areas such as the Yangzi River and Pearl
10
"Export, Innovate, Invest - The Canadian Trade Commissioner Service." Site of the Canadian Trade Commissioner
Service to Help Companies Do Business Abroad: Market Studies, Contacts Abroad, Services of Our Offices Abroad.
Accessed March 26, 2015. http://www.tradecommissioner.gc.ca/eng/trade-missions/document.jsp?did=143398.
11 David and Allison, “Growing the ICT industry in Canada: A knowledge Synthesis Paper”, University of Toronto,
Accessed March 2015
http://sites.utoronto.ca/progris/presentations/pdfdoc/2010/Growing%20the%20ICT%20Industry%20in%20Canada_sy
nthesis%20paper_edited%2014DE10.pdf
12 "Value-Added Alliances." Global Trade Finance Software Solution Partners. Accessed March 29, 2015.
http://www.surecomp.com/value-added.html.
13 Summarize from the company website. Accessed March 2015. http://www.marketwired.com/Contact-Us
14 “ASEAN ICT opportunities”, The Canadian Trade Commissioner Service, May 2013. Accessed March, 2015.
http://www.albertacanada.com/asean_ict_opportunitiesstudy.pdf
15 “Mississauga: a leading canadian ICT cluster” Economic Development Office, city of Mississauga
11
River Delta Region. Favourable policies indicate Asian ICT markets are hospitable and
more prepared to attract foreign investments.
Business Nature
In terms of forms of establishment, ICT companies are set up in two major ways,
representative offices and Partnership Enterprises (PEs). Many Canadian ICT companies
choose to have PEs in Asian markets, mainly because PE offers greater flexibility for
Canadian companies to partner with both individuals and local companies.16 PE requires
fewer government approval processes than joint ventures or wholly owned foreign
enterprises, however, as it is a relatively new structure, companies may face uncertainties
regarding business licensing and local governments’ regulation.17
Another major type is the representative office, as it allows software and computer services
companies to assess the local market’s openness to their products with minimal capital
requirement and less vulnerability18. Representative offices can be the most flexible form of
establishment in Asian markets, and also serve as a first step when entering a new market.
Meanwhile, companies can hire local consultants or sales professionals to assist in
developing their business.19
SMEs are focusing on niche markets where they can offer innovative solutions. Canadian
multinational enterprises (MNEs) have their own value chain patterns. MNEs have their
customer service and support centers in capital cities and major first-tier cities. Another
interesting phenomenon is that some large companies try to tap into the Asian markets by
offering local companies chances to participate in the value chain. For example, Blackberry
announced its five-year strategic partnership with Foxconn in Dec 2013, giving Foxconn in
Indonesia a chance to move up the value chain by offering them the opportunity to design
the hardware for future low-end devices20. The first new BlackBerry device coming out of
the Foxconn partnership will be a low-cost smartphone targeting Indonesia and other fastgrowing markets.21
Furthermore, promising software and computer services companies are expanding their
research and development centers outside Canada, even in emerging countries such as
India and China. For example, OpenText announced the expansion of its Hyderabad
research and development center to address the company's significant market
16
Munk School Data Information
"Partnership Enterprise (PE)." Understand China Partnership Enterprise PE Comments. August 25, 2010.
Accessed March 23, 2015. http://understand-china.com/partnership-enterprise-pe/
18 "Representative Office." Understand China Representative Office Comments. August 25, 2010. Accessed March,
2015. http://understand-china.com/representative-office/.
19 "Representative Office." Understand China Representative Office Comments. August 25, 2010. Accessed March,
2015. http://understand-china.com/representative-office/.
20 Cochrane, Joe, and Ian Austen. "BlackBerry’s Partnership With Foxconn Signals Shifting Priorities." The New York
Times. May 18, 2014. Accessed March 23, 2015. http://www.nytimes.com/2014/05/19/technology/blackberryspartnership-with-foxconn-signals-a-shift.html.
21 "BlackBerry Announces Five-Year Strategic Partnership With Foxconn." CrackBerry.com. December 20, 2013.
Accessed March, 2015. http://crackberry.com/blackberry-announces-five-year-strategic-partnership-foxconn.
17
12
opportunity 22 . Blackberry also has a research and development center in the Beijing
University of Aeronautics and Astronautics.
In terms of telecommunication markets, Asian countries differ significantly. In mature and
more open markets such as Japan and Singapore, Canadian companies are providing IP
address management and DNS/ DHCP solutions (BlueCat Networks Inc.), as well as
broadband services (Sandvine). However, in China, the telecommunications market is
monopolized by the three giants: China Mobile, China Unicom and China Telecom. From
the database, we can observe that there is only one Canadian telecommunications
company in China, DragonWave Inc., that does wireless carriers manufacturing.23
For successful software and computer services companies, one of their strategies is to
collaborate with local companies to mitigate data sovereignty and IP issues. OpenText, for
example, successfully adopted a compliance strategy and achieved smooth adaptation to
local markets. Following the expansion in Asia Pacific and establishment of Japan
headquarters, it opened a data center for locally hosted OpenText Cloud Services. It allows
local customers to access a variety of high-performance applications from a locally hosted
OpenText Cloud environment, lowering latency times. For public sector organizations and
highly regulated industries it allows data to remain in country. The desire to keep their data
on the continent is paramount, as it's key to their compliance strategy 24.
Legal, Management Consulting, Accounting, Customs, and Back Office Services
Market Concentration
This sector has a strong concentration in China and Hong Kong, accounting for more than
half of the total number. Both Vietnam and Hong Kong have 7 offices. All the other countries
host no more than 5 Canadian offices in the legal, management consulting and other back
office sector. Altogether 8 companies entered Chinese markets, among which, 4 companies
have multiple offices in different cities in China. For instance, Delmar, a Montreal based
Canadian Customs broker, has offices in ten major cities in China.
22
"OpenText Expands in India: Growing Customer Base, Expanded R&D Capacity." OpenText Expands in India:
Growing Customer Base, Expanded R&D Capacity. Accessed March 23, 2015. http://www.opentext.com/who-weare/press-releases?id=D33A82A96C09496CB87141ED97A4B1BD.
23 Munk School Data Information, DrangonWave company websites.
24 "OpenText Opens First Australian Data Centre for Locally Hosted OpenText Cloud Services." OpenText Opens
First Australian Data Centre for Locally Hosted OpenText Cloud Services. Accessed March, 2015
13
Market Concentration
Japan
4%
Indonesia
4%
Other
7%
South Korea
4%
China
40%
Taiwan
5%
Singapore
5%
Philippines
5%
Vietnam
13%
Hong Kong
13%
Province of Origin
Unlike many other sectors, legal, consulting and other back office sector companies in Asia
originate primarily from Quebec. Harvey Law Group and Delmar Worldwide have more than
ten offices around Asia. Harvey Law Group’s core business is to facilitate Asian investment
immigration to Canada, and Delmar Worldwide is specialized in providing diversified freight
and supply chain solutions.25
Province of Origin
NB
7%
ON
36%
25
BC
4%
PQ
53%
Munk School Data Information
14
Business Nature
Companies in this sector mostly exist in the form of small sized offices and often have
strong partnership with local firms and/or governments. Legal firms try to expand in Asia by
cooperating with local law firms, setting up subsidiaries, and hiring local lawyers. For
instance, Dentons, a combination of top 10 global law firms, is strengthening its partnership
with the Chinese law firm Dacheng.26 Dentons and Dacheng believe that the cooperation
‘brings meaningful, established, local know-how reinforced by global reach and quality,
helping clients navigate the most complex legal and business environments anywhere in the
world’. 27 Meanwhile, other smaller sized legal service companies tend to have local
representative offices to create a ‘referral network’ to provide their own specialties to local
customers.
Supplier services based companies including logistics, transportation and shipping
companies usually have representative offices in order to support their customer service
and facilitate their shipping/airlines services. Companies like Air Canada and Canada
Steamship Lines serve as important facilitators of the trade between Canada and major
Asian cities.
Consulting firms account for a relatively small part of this sector, providing services in a
variety of areas such as immigration consulting, business consulting and patent consulting.
Similar to other consumer-based companies, most of the consulting firms establish small
sized offices, which is adequate for their daily operations. Due to the relatively low cost of
the offices, the consulting firms can allocate their capital resource and human resources
towards many different locations in order to spread their presence around Asia.
Engineering, Architecture, Urban Planning, Environment/Geology Sector
Asia offers a competitive advantage to Canadian firms in this area because many countries
in the emerging markets suffer from poor quality control in infrastructure management.
Therefore, foreign firms have a considerable opportunity to bring higher and improved
international standards and professional management expertise into Asian markets.
Market Concentration
Here the market is highly concentrated in China, Hong Kong, India and Singapore, with
emerging growth in Indonesia and Thailand. Currently, 1/3 of the Canadian architecture and
urban planning companies are in China. Evidence shows that many companies are taking
advantage of Hong Kong’s unique location as a launching pad to access the Chinese
market.28
26
Munk School Data Information
Munk School Data Information
28 Munk School Database
27
15
Market Concentration
Thailand
4%
Other
14%
China
19%
South Korea
6%
India
15%
Japan
7%
Indonesia
7%
Hong Kong
15%
Singapore
13%
Province of Origin
Companies in this sector are largely from Quebec (36%), Ontario (28%) and British
Columbia (25%), followed by Alberta (8%). Different sub-sectors are dominated by major
global companies such as SNC-Lavalin Group (an engineering company from Quebec) and
B+H Architects (HK) Ltd (an architecture company headquartered in Toronto) in terms of
number of offices located in Asia.
Province of Origin
AB
8%
Other
3%
ON
36%
BC
25%
PQ
28%
16
Business Nature
In terms of their organizational structure, companies in this sector can be divided into two
categories. First, multiple company sites supporting a large local involvement (mostly
construction companies), as these companies need to carry out their activities or provide
their service at site they tend to set up operation offices or subsidiaries in Asia. Second,
small operation scales such as representative office/sales office/distributors facilitating large
market promotion. Another interesting finding is that, as a subsector, cleantech companies
have a strong presence in Asia due to favourable local policies and their comparative
advantage in the local markets. Most of the Canadian cleantech firms are SMEs and exist in
the form of local offices providing customer services and/or promoting their products.
Companies in the architecture and construction industries are facing licensing limitations.
For example, in China, they must obtain the prerequisite certificate from the provincial level
of Ministry of Commerce before they can directly undertake any projects in China.29 Thus,
most Canadian construction companies tend to have strong partnerships with local
government or with local firms to directly undertake construction projects. They are for the
most part larger sized in order to have the capacity to carry out massive construction
projects. A notable case is that of SNC-Lavalin, which recently signed a formal
Memorandum of Understanding (MOU) with the China National Nuclear Corporation
(CNNC) to jointly develop and pursue power generation, mining and metallurgy and
nuclear-related environmental protection projects.30
Most engineering or architecture consulting companies provide solutions/designs using their
respective specialty to other firms or government as a third party. These companies face
less restriction and entry barrier and they can contribute to the tech-transition from
developed to developing countries.
Barriers in Asia
Market requirements may vary considerably in Asia and the Canadian services sector
needs to approach each country according to those requirements. This report highlights a
few countries to demonstrate how each country’s unique and diverse environment can
serve Canadian services differently. The fact that the Asian countries under review have
different legal and regulatory restrictions is in itself a major challenge to manage. Please
refer to Appendix 3, which illustrates some common challenges in Asian markets.
In addition, the domestic political environment plays a significant role in impacting how well
the Canadian services sector performs in Asia. For example, in China, government policies
vary in regulating foreign investment and private investment in “strategic industries,”
flagship Chinese state-owned enterprises (SOEs), especially in the fields of finance and
“Establish an Architecture Company in China”, NCO China, Making Business Possible report, accessed March
2015,http://www.handelskammaren.com/fileadmin/user_upload/Nätverk/Nyhetsbrev_CBC/Setting_Up_an_Architectur
e_Firm_in_China_-_DK.PDF
30 “SNC-Lavalin signs MOU with the CNNC to develop project opportunities in China and abroad” Press ReleasesSNC-Lavalin, Last accessed July 24. 2014. http://www.snclavalin.com/en/snclavalin-signs-mou-with-the-cnnc-todevelop-project-opportunities-in-china-and-abroad
29
17
telecommunications services.31 Moreover, the SOE leaders and political parties have strong
bureaucratic ties in terms of agenda setting and policy making.32 Similarly in India, political
pressure and interest groups are reshaping trade and investment policies. Institutional
barriers, which are caused by multiple stakeholders such as suppliers, buyers,
subcontractors, distributors, regulators and companies, have negative impacts on the
services sector.33
Furthermore, different business practices, cultural norms and informal networks, language
and social elements influence foreign services penetration in Asian markets. For example,
in Japan, treating trade and investment as a zero-sum game is a common practice by the
Japanese business community where “increased imports will harm Japanese producers and
increased inward investment will displace Japanese companies.” 34 Also, corporate
governance is practiced for the greater public and social benefit as opposed to the AngloAmerican model, which gives importance to shareholder value, board independence and
board diversity. 35 As Linda Seymour, HSBC Bank Canada executive vice president and
head of commercial banking mentioned, “The biggest obstacles that Canadian companies
typically face in doing business in Asia revolve around confidence and understanding. Many
lack an understanding of international opportunities, they are unsure of how to position their
product or service in other markets; they lack cultural understanding and are uncertain of
how to navigate the regulatory environment.”36
Commitments and Progress
1. FIPAs
The government of Canada recognizes the importance of foreign investment promotion and
protection agreements (FIPAs) in expanding opportunities for the services sector in Asia
among many other trade priorities. Therefore, Canada has FIPAs in force with different
ASEAN nations such as the Philippines, Thailand, Indonesia and Vietnam. Moreover,
Canada is also participating in Trans-Pacific Partnership (TPP) negotiations with Brunei,
Malaysia, Singapore, Vietnam and Japan.37 The impact of TPP will be discussed in more
details in the later section of the report.38
2. Global Markets Action Plan
Susan V. Lawrence and Michael F. Martin “Understanding China’s Political System”, Congressional Research
Services, March 20, 2013, pg 35.
32 Susan V. Lawrence and Michael F. Martin “Understanding China’s Political System”, Congressional Research
Services, March 20, 2013, pg 35.
33 Canada, China, and Rising Asia: A Strategic Proposal. Pg 22.
34 Glen S. Fukushima “Removing Japan’s barriers to trade and investment” East Asia Forum, November 17, 2012.
http://www.eastasiaforum.org/2012/11/17/removing-japans-barriers-to-trade-and-investment/
35 Glen S. Fukushima “Removing Japan’s barriers to trade and investment” East Asia Forum, November 17, 2012.
http://www.eastasiaforum.org/2012/11/17/removing-japans-barriers-to-trade-and-investment/
36 “Canadian businesses should do more to capitalize on growing ties with China, say experts” The Globe and Mail,
last accessed November 7, 2014. http://exportwise.ca/wp-content/uploads/2014/11/AsiaPacificNov7.pdf
37 “Minister Fast Launches First Canada-ASEAN Business Forum” Government of Canada, Foreign Affairs, Trade
and Development Canada, last modified October 9, 2013. http://www.international.gc.ca/media/comm/newscommuniques/2013/10/09a.aspx?lang=eng
38 “Minister Fast Launches First Canada-ASEAN Business Forum” Government of Canada, Foreign Affairs, Trade
and Development Canada, last modified October 9, 2013. http://www.international.gc.ca/media/comm/newscommuniques/2013/10/09a.aspx?lang=eng
31
18
“By sharpening our trade policy tools, putting boots on the ground, and promoting businessto-business links with partners globally—links that are so often precursors to new ideas,
new commercial activity and new opportunities—the approach is designed to keep the plan
squarely aligned to the needs of Canadian business”39- Global Markets Action Plan 2013.
Building on the 2007 Global Commerce and Strategy and the Economic Action Plan 2012,
in 2013, the government of Canada released the blueprint for creating jobs and
opportunities for Canadians through trade known as the Global Markets Action Plan. The
main purpose of this plan is to serve the Canadian trade and services sectors’ interests by
concentrating on priority markets in Asia.40 Under this plan, Canada prioritizes markets that
have potential for success and went through rigorous assessment to qualify new
opportunities. These steps included “economic modelling to identify markets with highgrowth potential given Canadian industrial capabilities and competitive advantages; analysis
of potential sources of capital, technology and talent; key regional trading blocs and Free
Trade Agreement (FTA) partners for Canada; core hubs in global value chains; and
guidance from key Canadian industry sectors.”41
Policy Implications
If we want to understand the policy implications in the services sector, we need to examine
the TPP and TiSA. These agreements are still active negotiations and their implications will
unfold with time. TPP is a trade negotiation, similar to NAFTA, which has been caught up in
various controversies and complexities since 2008. Concerns with regards to income
inequality, environment, access to affordable healthcare, and labour rights have been raised
by various parties who are opposed to this deal. The business sector wants TPP to be
implemented as trade liberalization often leads to economic and business growth. For
Canada, the TPP has the potential to become a leading mechanism for regional economic
integration in Asia and to produce significant benefits for exporters and investors in the
Asia-Pacific region.42
The TPP's focus on services, investment and government procurement, among other trade
issues, benefits Asian economies. For example, if the terms of TPP are finalized and if
China decides to join the TPP, they will be aligned with China's current efforts to reform its
economy. This includes managing local government debt while growing social services
offered to a larger share of rural-urban migrants. Additionally, once the deal is finalized;
China would gain immediate reputational benefits. Therefore, it is in China’s and other
Asian nations’ interest to join the TPP and boost investment and services trade activity.43
“Global Markets Action Plan: The Blueprint for Creating Jobs and Opportunities for Canadians Through Trade”
2013. http://international.gc.ca/global-markets-marches-mondiaux/assets/pdfs/plan-eng.pdf
40 “Global Markets Action Plan: The Blueprint for Creating Jobs and Opportunities for Canadians Through Trade”
2013. http://international.gc.ca/global-markets-marches-mondiaux/assets/pdfs/plan-eng.pdf
41 “Global Markets Action Plan” Government of Canada, Foreign Affairs, Trade and Development Canada, last
modified September 12, 2014. http://international.gc.ca/global-markets-marches-mondiaux/plan.aspx?lang=eng
42 Huff Post. “Trans-Pacific Partnership Getting Closer, Say Obama And Harper” 02:47, October 11, 2014.
http://www.huffingtonpost.ca/2014/11/10/trans-pacific-partnership-closer_n_6131042.html
43 “TPP: What's at stake with the trade deal?” BBC, last accessed 22 April, 2014. http://www.bbc.com/news/business27107349
39
19
The services sector is growing rapidly in the Asia and TPP is one of the first FTAs, which
paves the way for TiSA and the Transatlantic Trade and Investment Partnership (TTIP).44
TiSA is an attempt to further liberalize trade in services. The participants of TiSA are the
“Really Good Friends of Services”, who are an ad-hoc group of WTO members, including
Japan, Taiwan, Korea and Hong Kong.45 TiSA members represent an enormous services
market with nearly 1.6 billion people and a combined GDP of more than $50 trillion in
2013—nearly two-thirds of the world’s economy. In 2013, these countries exported more
than $3.6 trillion in services.46 TiSA has been an important agreement in terms of focusing
on frameworks of rules and modalities of services trade. TiSA also aims to remove barriers
such as unfair competition from state-owned enterprises, to improve transparency and
enforce due diligence to avoid discrimination in obtaining business licenses and permits.47
Discussions in TiSA have been intensive over the last months regarding data flows, stateowned enterprises and negative vs. positive list approaches.48 Additionally, TiSA will include
discussions over cyber policies, data and IP protection, dealing with SOEs, labour mobility
and regulatory cooperation, all of which are conducive in strengthening the Canadian
footprint of services sector in Asia.
While TiSA has a lot of similarities with General Agreement on Trade in Services (GATS),
there are some aspects that are unique. For example, deregulation of the financial services
will impact commercial subsidiaries and cross-border services. Critics of TiSA imply that
liberalization of the financial sectors is disadvantageous to the member countries and
instead support strict regulation, especially in the aftermath of the financial crisis. 49 The
TiSA is also often characterized as being yet another unending multilateral trade
negotiation.
To sum up, there is no doubt that the overall impact for TPP and TiSA will be beneficial for
Canada and other Asian countries. Japan, Taiwan, Hong Kong and Republic of Korea are
already involved in the ongoing negotiations. If the rest of the countries join these
agreements, then it demonstrates the united commitment to foster economic growth by
boosting the services sector.
“The Trans-Pacific Partnership (TPP)” The Coalition of Services Industries.
https://servicescoalition.org/negotiations/the-trans-pacific-partnership-tpp
45 Pierre Sauvé, “A Plurilateral Agenda for Services? Assessing the case for a Trade in Services Agreement (TISA)”
Working Paper No 2013/29, Swiss National Science Foundation under a grant to the National Centre of Competence
in Research on Trade Regulation, 29 May 2013. http://www.wti.org/fileadmin/user_upload/nccrtrade.ch/wp2/publications/TISA_P_Sauve.pdf
46 “Trade in Services Agreement (TISA)” Government of Canada, Foreign Affairs, Trade and Development, last
modified February 18, 2015. http://www.international.gc.ca/trade-agreements-accords-commerciaux/topicsdomaines/services/tisa-acs.aspx?lang=eng
47 The Trade In Services Agreement (TISA), “The Coalition of Services Industries”
https://servicescoalition.org/negotiations/trade-in-services-agreement
48 Juan A. Marchetti and Martin Roy “Staff Working Paper ERSD-2013-11”, World Trade Organization-Economic
Research and Statistics Division. November 27, 2013. https://www.wto.org/english/res_e/reser_e/ersd201311_e.pdf
49 Fact Sheet, “Trade in Services Agreement (TiSA) and Financial Services” September 2014.
http://ttip2014.eu/files/content/docs/Full%20documents/factsheet_tisa_and_financial_services.pdf
44
20
Appendix 1- Methodology
Data Analysis:
The company dataset is the core part of our project. Our dataset, gathered from several
open data sources, includes over 1000 data points and information such as the company
names, their sectors, their provinces of origin and their locations in 16 countries around
Asia. Based on this primary dataset, we updated it with new companies that we found; we
researched each companies in the targeted sectors about their size and business nature
using public available information such as their official website; we processed the data and
categorized the companies by their market concentration, provinces of origin, size and
business nature.
From the data analysis part, we identified the fundamental trends of Canadian business
presence in Asia such as: which country in Asia attracted what sectors? Which provinces in
Canada have strong presence in Asia? What business nature do Canadian companies
have?
Literature review:
Based on the trends we identified from our dataset, we reviewed related literature in order
to explain the facts. We took into account influencing factors from three different
perspectives: political drivers, market drivers and legal issues. For political drivers, we
analyzed policy regulations ranging from local level policy up to international agreement; for
market drivers, we researched the business environment in terms of clients and competitors
of Canadian companies. For legal issues, we examined what sectors have encountered
more serious regulation or even ban when enter different markets in Asia.
Interview:
We interviewed several member companies of our clients and gathered primary insightful
information from representatives of Canadian business that has expended to Asian market.
Usually followed by a short presentation of our project, the interview consisted of three
components: First, interviewees would provide an overview of the company and their
business around Asia; second, interviewees would describe major barriers and challenge of
their business different countries in Asia; finally, interviewees would offer us additional
related resources and literature.
The interviews played an important role in our report because the interviewees have deep
understanding of their own industry and they are able to provide us inside information,
which might be difficult for us to find elsewhere. Their opinion and comments serve as good
starting point for us to conduct further analysis on the trends explanation and drivers
identification.
21
Appendix 2- Size Data
Number of Employees in Joint Ventures
INDIA
8,525
CHINA
1,789
MALAYSIA
451
PHILIPPINES
433
VIETNAM
244
INDONESIA
82
Number of Employees in Total
PHILIPPINES
1,135
INDIA
920
HONG KONG
700
INDONESIA
375
JAPAN
30
SINGAPORE
25
CHINA
5
MALAYSIA
5
VIETNAM
5
Source: Sunlife Annual Report 2015.
22
Appendix 3 –Barriers in Asia
Source: Canadian Businesses in ASEAN 2013
23
Appendix 4- Services Sector in Major Countries Data
SERVICES SECTOR IN CHINA
Legal service
Hospitality and
5%
Tourism
10%
ICT
38%
Architecture and
Urban Planning
12%
Environment and
Geology
14%
Financial service
21%
SERVICES SECTOR IN HONG KONG
Medical and
Healthcare
4%
Legal service
4%
Hospitality and
Tourism
7%
ICT
37%
Environment and
Geology
8%
Architecture and
Urban Planning
13%
Financial service
27%
24
SERVICES SECTOR IN INDIA
Hospitality
2%
Architecture and
Urban Planning
10%
ICT
36%
Environment
and Geology
11%
Financial Service
12%
Education
29%
SERVICES SECTOR IN JAPAN
Medical and
Healthcare
6%
Environment
and Geology
8%
Archetecture
and Urban
Planning
9%
ICT
62%
Financial service
15%
25
SERVICES SECTOR IN SINGAPORE
Legal Service
3%
ICT
50%
Medical and
Healthcare
3%
Environment
and Geology
10%
Archetecture
and Urban
Planning
12%
Financial
service
22%
26
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