Workplace Injury Law in India, Vietnam Used Machinery Ban – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
With manufacturers considering alternative options to relocate due to the ongoing China-US trade war and the rising wages in China, Myanmar offers a promising economic environment for construction and real estate investors.
Myanmar’s economy is expected to register a 6.9 percent growth in 2019. The country borders the two most populated countries in the world – China and India – and is a member of the Association of Southeast Asian Nations (ASEAN).
Compensation for workers in India varies depending on the size of the company.
If the business employees more than 20 employees, the Employees’ State Insurance Act, 1948 applies.
If the business employs less than 20 people, the company must refer to the Employee’s Compensation Act, 1923 (Previously, Workmen’s Compensation Act, 1923).
China and Russia jointly worked on the project, with China completing construction of its section across what it calls the Heilongjiang (Black Dragon) River in October last year. Russia has now finished its side and installed the final steel beam into its section of the bridge.
Other works are expected to be completed in July. The bridge is expected to serve as an international goods transportation channel with an annual shipment volume of 21 million tons and 1.5 million passengers when it opens later this year.
Greece has joined the Beijing backed Co-operation Between China and Central and Eastern Europe Countries (CEEC). Previously referred to as the 16+1, the forum accepted Greece’s membership at the recent CEEC meeting held in Dubrovnik.
Besides China, CEEC members are: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Greece, Hungary, Latvia, Lithuania, North Macedonia, Montenegro, Poland, Romania, Serbia, Slovakia, and Slovenia.
Vietnam will ban the use of imported used machinery, equipment, and production line technology that is more than 10 years old, from June 15, 2019. The government passed the regulation in Decree No 18/2019/QD/TTg, which will replace circular No 23/2015/TT.
The ban on used machinery aims to limit the use of outdated, poor quality, and unsafe equipment in the country. In addition, only used machinery that directly serves production in Vietnam can be imported into the country.
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