The protracted political crisis in Thailand has understandably unnerved foreign investors, who see no end in sight for the political stalemate. Meanwhile, Indonesia and the Philippines have become very attractive alternatives for investors considering pulling their investments out of Thailand.
There are a number of important ASEAN regional meetings taking place in March, including the Senior Economic Officials Meeting and the ASEAN – Australia – New Zealand FTA Economic Committee meeting.
Toyota has begun construction of a new US$198 million automotive engine manufacturing plant in Karawang, West Java, which, when completed in 2016, will more than double the company’s current production in Indonesia.
The Philippines and Indonesia are to sign a maritime boundary treaty after agreements to do so were reached at a meeting of the two countries’ Foreign Ministers in Jakarta yesterday.
Trade officials from Indonesia and South Korea will meet in Seoul this week, in critical negotiations surrounding the Comprehensive Economic Partnership Agreement (CEPA). The CEPA, which will be a bilateral deal between Indonesia and South Korea, is similar to an FTA but wider in its scope.
In his interview on Channel News Asia, Chris Devonshire-Ellis discusses ASEAN’s appeal as a new manufacturing hub in Asia as China’s production costs continue to rise.
The Philippines is set to be the new darling of emerging Asia as its national demographics, partnered with a liberal government reform policy, is beginning to attract a new wave of foreign investors.
Last year, Malaysia’s FDI inflows hit RM38.8 billion (US$11.7 billion), breaking the previous record of RM37.3 billion (US$11.3 billion), set in 2011.
As Free Trade Agreements continue to take center stage in economic development across ASEAN and Asia, understanding the benefits of these agreements and how to avail them is becoming ever more important.
As the biggest airshow in the Asia-Pacific region kicks off this week in Singapore, progress towards implementing an ASEAN-wide open skies regime by 2015 appears to be slow but steady.