India’s Import-Export Trends, Vietnam’s New Competition Law – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
In the fiscal year (FY) 2018-19, India’s total merchandise exports registered a 9.06 percent growth to hit a new high of US$330 billion. In addition, India’s total imports grew at a much higher rate at 10.41 percent, amounting to US$514 billion. Monitoring the evolving nature of India’s imports and exports can help investors understand country’s trade patterns and identify opportunities in the domestic market. Here we analyze India’s latest export and import trends.
Russia and China have signed a MoU to create a US$1 billion Research and Technology Innovation Fund. The new fund will be created for eight years, and will contribute to transferring, promoting and implementing joint innovative decision with a special emphasis placed on supporting small-and medium-sized enterprises.
China’s new foreign investment law kicks in from 1st January 2020 – just 6 months away – and promises equality for foreign investors in China when it comes to competing with China’s domestic companies for procurement contracts.
In doing so, it has changed the landscape for foreign investment in China by offering foreign investors a more level playing field “equal” to Chinese companies. Here we look at the the procedural steps required to get involved in the foreign invested Belt and Road procurement projects.
Vietnam’s Law on Competition came into effect on July 1, 2019, which focuses on competition restraining agreements, market dominance, economic concentration, and unfair practices. The new law builds on the previous regulation and provides investors with clearer guidelines. The move underlines the government’s intent to match Vietnam’s laws to international standards and this bodes well for foreign investors in the country.