Our weekly round up of other news affecting foreign investors throughout Asia.
On August 27, 2019, Indonesia’s Ministry of Labor issued Regulation No. 228 of 2019 (“Regulation 228, 2019”) to define the types of job positions foreign employees can hold in the country. The new regulation widens the number of positions open to expatriate workers, consolidates the list of positions into one, and simplifies the approval process for foreigners and their employers.
The Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, governs the coverage and investment ceiling of MSMEs in India. Given the government of India’s latest ‘Make in India’ push, along with a significant jump in the FDI flows, the Indian MSMEs sector is poised for rapid growth and integration with major global value chains.
Maksim Akimov, Russia’s Deputy Prime Minister stated at the recent Far East Economic Forum that Russia would like to extend the existing Moscow-St. Petersburg high-speed railway line to Finland in the future. These developments are partially geared to accentuate the increasing amount of Chinese freight trains arriving in Europe via Kazakhstan and Russia, and to allow both Chinese and Russia trade access too and obtain supplies from the Baltics.
The Russian Far East has extensive mineral, lumber, and marine resources, attractive to foreign investors from China, Japan, and South Korea. Vladivostok is the main port for the Trans-Siberian Land Bridge connecting Japan and South Korea with Russia and to markets across China, Central Asia, and onto Europe. In terms of facilities, Vladivostok is still developing its infrastructure and will need to amend its roads system. However, with an extensive water front along several bays, the city is certainly going through a boom and this can be expected to continue.
In recent years, Lao Cai province has developed into a promising destination for foreign investments – especially in the tourism, construction, and agriculture sectors. This is partly a result of Lao Cai’s strategic location located on the Kunming-Haiphong economic corridor, sharing a border on the Yunnan province of China.
China Briefing is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in Dalian, Beijing, Shanghai, Guangzhou, Shenzhen, and Hong Kong. Readers may write to firstname.lastname@example.org for more support on doing business in China.
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