Myanmar’s Economic Zones, Remitting Profits from India, Vietnam’s Young Consumers – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Myanmar’s commerce ministry recently issued a call for investments in economic zones that are planned to be set up on the country’s border with China. Dubbed as “economic cooperation zones”, these projects are aimed at boosting trade and investment between the two neighbors under the framework of China’s ambitious Belt and Road Initiative (BRI).
Prior to investing in India, companies must know how to repatriate their profits from the country. Though sending company profits from India is much simpler than remitting personal income, the procedures to remit money to the parent company depend upon an entity’s investment model.
The possibility of involving Chinese companies in the construction and upgrading of power plants in the Russian Far East was discussed during Russian Deputy Prime Minister Yury Trutnev’s visit to Beijing, according to an official Russian statement.
China’s foray into developing the Russian Provinces of Siberia and the Russian Far East are taking shape with a number of recent investment developments and projects being launched. The region has a long border with China, offers Pacific Ocean access to otherwise landlocked areas, and are home to massive energy and other high value reserves.
Generation Z, the generation following the millennials are expected to bring lasting change to Vietnam’s consumer market. They are estimated to make up 25 percent of the labor force, amounting to 15 million people, and growing financial independence within family households grant them greater leverage on family matters, including new purchases.