The Asia Briefing Weekly Round Up
All of Asia on One Website
Monday, November 16, 2020.
Today we have launched our new Asia Briefing Weekly Round Up, designed to help our China readers stay up to date with developments elsewhere in Asia. A complimentary subscription to this service can be obtained here.
This week’s latest news:
Huge FTA market of 2.2 billion ushered in: no immediate further tariff reductions but mutual acceptance of professional qualifications opens up the doors for services sectors, while rules of origin are now standardized across the bloc, motivating investment into Cambodia, Laos, and Myanmar.
Russian President Vladimir Putin will host the Heads of State of Brazil, China, India, and South Africa via video conference tomorrow for the annual BRICS 2020 summit. We examine their strategic vision.
Policy priorities revealed at the Fifth Plenum offer insights on what industry and businesses can expect from China’s 14th Five Year Plan in March 2021.
India extended production-linked incentives for 10 key sectors, including automotive, food processing, and white goods to boost manufacturing and exports.
India and Russia want to boost their bilateral trade, which is why an India-EAEU FTA has become a priority project for both countries.
COVID-19 will encourage reforms in ASEAN’s healthcare sector, opening new investment opportunities in the fields of medicine and pharmaceuticals.
Thailand’s Board of Investment (BOI) issued its latest incentives for the country’s electric vehicle (EV) industry. These incentives mainly cover tax holidays for qualified EV projects, such as for the development of hybrid electric vehicles. There are also tax holidays for businesses in the EV supply chain, in particular for manufacturers of battery modules and battery cells.
Vietnam is making a big push into the renewable energy sector to meet its increasing demand and ensuring energy security.
ASEAN is a market of 600 million people and has the world’s third-largest labor force. It is projected to become the fourth-largest economy by 2030 with domestic consumption doubling to US$4 trillion.
Singapore’s stable legal, tax, and business environment makes the country a key trading hub in ASEAN. It is home to over 7,000 multinational companies who have incorporated their Asia-Pacific headquarters in the country, and also has an extensive double taxation and free trade network, benefiting investors and making it an ideal Asian HQ for MNCs.
As international businesses plan their budget for 2021, Vietnam has emerged as a promising investment destination in ASEAN for global export manufacturers and especially from the United States.
Multinational firms planning their 2021 investment budgets should consider India with its large competitive workforce and massive middle-class consumer market. We provide cost comparisons and market analysis.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done so since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at firstname.lastname@example.org.
We also maintain offices assisting foreign investors in Vietnam, Indonesia, Singapore, The Philippines, Malaysia, Thailand, United States, and Italy, in addition to our practices in India and Russia and our trade research facilities along the Belt & Road Initiative.