MANILA - Companies from the United States are beginning to see the growing importance of their offices in the ASEAN (Association of South East Asian Nations) region, a recent survey showed.

According to a survey conducted by the American Chamber of Commerce (AmCham), ASEAN markets are perceived to be of increasing importance to US-based firms primarily because of the region's expected economic recovery (79%).

On the other hand, more than half (52%) of the respondents expect more from ASEAN since there are limited growth opportunities in other regions, while about 44% saw improvements in infrastructure.

Meanwhile, only 4% of US companies said that the ASEAN market will be less important for their companies.

The survey revealed that US firms usually choose Vietnam for expansion (35%), followed by Indonesia (18%). At the same time, US companies with offices in Vietnam were most optimistic about 2009 profits, with 47% anticipating growth this year.

In the Philippines, the survey said US firms have "modest" expectations for profits this year, and are expected to improve by 2010 by as much as 80%. Companies in the US are seen to increase its employees in the country and to reduce its expatriates.

"Overall, companies are more satisfied with the business environment in the Philippines than in 2008. However, satisfaction with local government institutions is very mixed," AmCham Philippines said in a statement released Tuesday.

Amcham's ASEAN Business Outlook Survey was conducted on 369 respondents across the region from July to August 2009. ASEAN is composed of 10 nations, which include the Philippines, Indonesia, Malaysia, Singapore, Thailand, Brunei, Vietnam, Lao PDR, Myanmar, and Cambodia.