On the basis of a discussion by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), the region is regarded as a potential destination for investors in the construction industry, with the Asia-Pacific region becoming a major base for global economic recovery. Saudi Arabia is the largest construction market in the Middle East, while Qatar is the fastest growing construction market because preparations are under way in Qatar for the FIFA World Cup in 2022. Experts think the construction sector in the Middle East is likely to be enhanced by various infrastructure investments which, in turn, is likely to open up lucrative opportunities for translators.
For Tagalog, Japanese, Korean, Vietnamese and Chinese translation workers, a bullish construction sector in Asia, particularly in the energy sector, means growth. Among member-countries, strategic collaborations should be encouraged to stay in touch with the rapidly growing construction market worldwide. Major expansions in global construction are expected in the Asia Pacific, where various investment opportunities exist, especially in the Philippines, a major center of business and leisure in Southeast Asia.
With such a market comes a demand for various kinds of translation services. Financial and economic translations cover a wide range, from stock exchange analysis to business communication, to compulsory research, to economic surveys, to checking for compatibility. Translators in these markets are in high demand for supporting critical interactions. However, they must know and understand economic and stock exchange mechanisms. This dual aspect of linguistic and technical competence is primarily achieved by acquiring knowledge and awareness of these markets. Accountants and analysts have gone into translations even when some documents are technically highly advanced.
Translation is a specialization tool par excellence which makes systematic documentary research possible through the progressive compilation of glossaries. A bullish construction market requires specialization of the technical aspects of the market, semantic issues and terminology involved in the dealings between the provider and the client. Translation is an important step when it comes to financial communication. Other than the legal obligations, the objectives of financial communication are numerous. Translators are required to analyze the financial documents and contracts, improve assessing of the title, convince and retain institutional and individual investors, and increase the presence and reputation of the company.
The translator in such markets must present financial information through analysis, reports and press releases. The financial translations should support the aims of the principal stakeholders and convey the purpose and meaning of the interaction in a language everyone involved can understand. The unique workflow, including quality control and accountability, followed by translators ensures consistent efficiencies and successes.