CSR in India, Vietnam’s Rules of Origin – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
India is the first country in the world to make corporate social responsibility (CSR) mandatory, following an amendment to the Companies Act, 2013. Businesses can invest their profits in areas such as education, poverty, gender equality, and hunger as part of CSR compliance.
German businesses invested more than €3.3 billion (US$3.7 billion) into Russia in 2018, reaching the highest levels in a decade and exceeding numbers not seen since 2014, according to data from the Russia-German Chamber of Commerce. German investment into Russia illustrates the growing opportunities for foreign investors.
The Eurasian Economic Union, a free trade area that sits between the European Union and China, is about to gain inroads into Europe. Serbia, which borders EU members Hungary, Romania, Bulgaria, as well as Croatia, Bosnia & Herzegovina, Montenegro, Kosovo, and North Macedonia, has agreed to sign an FTA with the EAEU on October 25.
Vietnam’s Ministry of Industry and Trade (MOIT) recently released draft regulation – Decree No. 31/2018/ ND-CP – on labeling criteria for domestically consumed goods. Goods must have a localization ratio of at least 30 percent to be designated as Vietnamese made.
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