E-Commerce Tax in Thailand, Entertainment in India, and Labor in Vietnam – Asia Investment Brief
Our weekly round up of other news affecting foreign investors throughout Asia:
The OECD BEPS action 1 has resulted in jurisdictions acting unilaterally in implementing destination taxation rights as espoused by the OECD and in order to “level the playing field” for domestic e-commerce operators.
Beyond the fabled song and dance sequences of its films, India’s entertainment business is rapidly diversifying and expanding across new industry segments. Set to be worth US$20.6 billion by 2020, the industry is growing at a compound annual growth rate (CAGR) of 17.52 percent.
Russian Foreign Minister Sergey Lavrov has met with his Armenian counterpart Zohrab Mnatsakanyan, with both parties saying that their mutual membership of the Eurasian Economic Union (EAEU) has significantly boosted bilateral trade.
President Shavkat Mirziyoyev has, over the past three years, initiated a series of important reforms, and made unprecedented overtures to each of Uzbekistan’s previously estranged neighbouring states.
Labor intensive sectors continue to be the growth drivers for Vietnam’s economic development. However, as the world moves towards Industry 4.0, the government has to introduce significant reforms across all the main sectors of the economy, to increase the productivity, skills, and quality of labor to remain competitive.