Other Briefings
Turkey Launches Anti-Dumping Probe into Malaysia, Vietnam Steel Re-Exports
The Vietnam Competition Authority has announced that Turkey’s Ministry of Economy is investigating steel products imported from Malaysia and Vietnam following a complaint by M/s Jindal Stainless Limited.
The Philippines’ Inclusive Business Program to Provide a Range of Incentives to Foreign Investors
The Philippines is currently accepting applications from companies to participate in its Inclusive Business (IB) program. The program is intended to help reduce poverty across the nation by encouraging businesses to set up their operations in areas that have been identified as economically disadvantaged. In return for basing their operations in these areas, businesses will be granted a range of financial and other incentives. The program will initially focus on the areas of Marivetes (Bataan), Cavite, Mactan (Cebu), and Baguio.
Key Industries for Investment in ASEAN
As ASEAN continues its transition to greater economic integration with the implementation of the ASEAN Economic Community in 2015, the region is seeing strong growth in a number of industries. Among the key business areas are electronics, information and communications technology, textiles and apparel, and medical devices.
McKinsey Sees Room for ASEAN Improvement and Future Growth
In its recent report on achieving sustained economic growth in Southeast Asia, the global management consulting firm, McKinsey, highlighted key areas for improvement in ASEAN, particularly the need to improve labor productivity, which still remains low.
ASEAN Regional Meetings 2014
There are a number of important ASEAN regional meetings taking place in November, including the Meeting of the Committee of Permanent Representatives to ASEAN and the 25th ASEAN summit, which will also be attended by high level representatives of China, Japan, Korea, India, the United States, and Australia.
Malaysia to Implement Lowest ASEAN Goods and Services Tax (GST)
Beginning in April 2015, Malaysia will introduce a goods and services tax (GST) of six percent – the lowest rate in the ASEAN region. The new GST will replace the country’s current sales and services taxes. 2015 will also see the release of Malaysia’s new budget.
The new tax regime is intended to increase the competitiveness of Malaysia’s exports, which will be zero rated. Additionally, a number of special schemes will be implemented in order to support the cash flow of exporters – such as, allowing companies to defer accounting for GST on temporarily imported goods for re-export.
Outlook on ASEAN Investment 2015
Indonesia, Malaysia, and the Philippines are surging ahead of their regional neighbors, with FDI increases of 17, 19 and 20.4 percent, respectively, in 2013, according to Bank of America Merill Lynch. Meanwhile, Singapore continues to receive the lion’s share of total FDI in the region, which last year grew five percent to a net value of nearly US$64 billion. The city-state’s attraction for foreign investors derives not only from its often overlooked manufacturing base, but also as a channel for routing FDI into other locations in ASEAN.
ASEAN Investment Horizons: Key Industries for AEC 2015 – New Issue of Asia Briefing Magazine
In this issue of Asia Briefing, we forecast the effects of ASEAN Economic Community on foreign investment into the region in the lead up to 2015. Following this, we highlight what is happening in some of ASEAN’s hottest industries for investment, including electronics, information and communications technology, textiles and medical devices.
RCEP Ministers Remain Optimistic Despite Negotiation Hurdles
On Wednesday, the Association of Southeast Asian Nations (ASEAN) and its FTA partners – Japan, New Zealand, China, India, South Korea and Australia – held their second round of ministerial talks for the Regional Comprehensive Economic Partnership (RCEP). Ministers expressed optimism for meeting the RCEP completion target of December 2015.
September 2014 ASEAN Regional Meetings
There are a number of important ASEAN regional meetings taking place in September, including the General Assembly of the ASEAN Inter-parliamentary Assembly and the Forum on Good Governance.
