China Outbound: E-Commerce and Start-up Landscape in ASEAN and India
Our Latest Round-Up of Business News Affecting China-Based Businesses Investing in Asia
In this edition of China Outbound, we start with an overview of the current state of the e-commerce landscape in India and Vietnam. We also include a guide to Vietnam’s import and export restrictions, which is closely related to the development of the country’s e-commerce industry. Then, we examine the corporate establishment procedures, regulations and key considerations when setting up businesses in other ASEAN nations such as Singapore and the Philippines.
For those interested in the import or exportation of goods from Vietnam, careful due diligence is critical in ensuring that business can be carried out in a seamless fashion. Regulations as well as restrictions can play a significant role in trade, and all those with cross boarder operations should keep close watch on regulatory developments.
Vietnam’s e-commerce and start-up landscape is young, supported by strong fundamentals, and primed for investment. As of 2015, 39% of the Vietnamese population – 36.5 million people – were online, primarily through smartphones and tablets. Furthermore, e-commerce multinationals, such as Amazon, having yet to establish a foothold within the Vietnamese market, allow for highly developed start-ups targeting young consumers, like TicketBox, to gain traction.
Moving back on its earlier position, the Bharatiya Janata Party (BJP) led National Democratice Alliance (NDA) government has decided against defining the ‘online marketplace’ in India. The lack of clarification on what constitutes retail, wholesale and marketplace selling on online platforms is perpetuating confusion for foreign investors.
With annual growth projected to exceed 6 percent in 2016, the Philippines is among ASEAN’s most attractive destinations for foreign capital. Business confidence has been riding high and, as of 2015, the nation has seen substantial improvements in its competitiveness – rising five places in the World Economic Forums Global Competitiveness Index as the 47th most attractive economy in the world for business.
Renowned for its highly skilled workforce and competitive business environment, Singapore is a valuable entry point to ASEAN, and filled with investment opportunities for firms seeking to establish themselves within Southeast Asia.
Asia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email firstname.lastname@example.org or visit www.dezshira.com.
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