Other Briefings
OECD and ASEAN Release Investment Policy Review of Myanmar
On December 9th, the Second ASEAN-OECD Investment Policy Conference was held in Jakarta, Indonesia, to discuss the continued facilitation and promotion of ASEAN investment for regional integration. The event brought together ASEAN investment policy makers, Organization for Economic Cooperation and Development (OECD) members, and industry leaders, to showcase ASEAN’s regional investment integration achievements since the first conference in 2010. Included at the conference was the release of the OECD’s Investment Policy Review of Myanmar, which marked the country as one to watch heading into 2015.
Key Industries for Investment in ASEAN
As ASEAN continues its transition to greater economic integration with the implementation of the ASEAN Economic Community in 2015, the region is seeing strong growth in a number of industries. Among the key business areas are electronics, information and communications technology, textiles and apparel, and medical devices.
Thai Economy Sees Improvement Due to Increased ASEAN Integration
The level of Thailand’s imports and exports has expanded for the first time since April 2013. In year-on-year (YoY) comparisons, both imports and exports have increased. In the Ministry of Finance’s most recent report, June YoY comparisons show the total value of exports is up by 3.9 percent with improvements in both intra-ASEAN and European trade. After signs of slowing this past year, producer and consumer confidence also now appear to be improving.
McKinsey Sees Room for ASEAN Improvement and Future Growth
In its recent report on achieving sustained economic growth in Southeast Asia, the global management consulting firm, McKinsey, highlighted key areas for improvement in ASEAN, particularly the need to improve labor productivity, which still remains low.
Economic Growth Puts Vietnam on Track to Become Largest ASEAN Supplier to the U.S.
The American Chamber of Commerce (AmCham) predicts that Vietnam will become the largest ASEAN supplier to the United States by the end of 2014 – with a net export value of around US$29.4 billion. This would be a historical achievement for a nation surrounded by supply giants. In fact, Vietnam is likely to become the wealthiest Southeast Asian country in terms of trade. Additional statistics indicate that bilateral trade with the United States will surge to US$57 billion by 2020, cementing Vietnam’s prominence as a valuable hub for foreign investment and trade.
ASEAN Regional Meetings 2014
There are a number of important ASEAN regional meetings taking place in November, including the Meeting of the Committee of Permanent Representatives to ASEAN and the 25th ASEAN summit, which will also be attended by high level representatives of China, Japan, Korea, India, the United States, and Australia.
Outlook on ASEAN Investment 2015
Indonesia, Malaysia, and the Philippines are surging ahead of their regional neighbors, with FDI increases of 17, 19 and 20.4 percent, respectively, in 2013, according to Bank of America Merill Lynch. Meanwhile, Singapore continues to receive the lion’s share of total FDI in the region, which last year grew five percent to a net value of nearly US$64 billion. The city-state’s attraction for foreign investors derives not only from its often overlooked manufacturing base, but also as a channel for routing FDI into other locations in ASEAN.
ASEAN Briefing Wins the 2014 On The Edge Innovation Award
ASEAN Briefing and its parent organisation Dezan Shira & Associates has won the 2014 On The Edge Innovation award at the annual Leading Edge Alliance Global Conference.
October 2014 ASEAN Regional Meetings
There are a number of important ASEAN regional meetings taking place in October, including two events related to intellectual property rights in Manila, and committee meetings on ASEAN-Korea and ASEAN-Japan bilateral relations.
Singapore: IRAS Consultation on Transfer Pricing Documentation
On September 1, 2014, the Inland Revenue Authority of Singapore (“IRAS”) released a consultation process whereby it has requested comments on proposed changes to the transfer pricing documentation requirements in Singapore.
