Electronic Imports in India, Minimum Wages in Vietnam – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
The article briefly explains the import procedures in Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Thailand, and Vietnam.
Importing electronics and information technology (IT) products without Bureau of Indian Standards (BIS) registration is now prohibited in India.
The country is tightening quality controls for electronic products to curb the rising import of cheap electronic items, in particular from China, and boost local manufacturing under its Make in India program.
Russia is making a strategic shift in its reserves towards holding fewer dollars and more assets in other currencies, especially the RMB and Euro.
On the trade aspect, this makes sense, Russian trade with the US is close to zero, while with China it has been expanding fast – there are suggestions of it hitting US$200 billion in five years – a 20 percent increase year-on-year, every year from now.
Vietnam’s National Wage Council has increased the minimum wage by an average of 5.3 percent in 2019.
The hike, which is the lowest compared to previous years, will increase the minimum wage in the four regions by US$7-9 per month.
In 2018, the increase was 6.5 percent, while in 2017 the minimum wage was hiked by 7.3 percent.
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