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APR News



Foreign firms upbeat about business prospects in Vietnam

Business confidence has increased among foreign direct investment (FDI) companies in Vietnam, according to a survey conducted by the Vietnam Chamber of Commerce and Industry (VCCI).
The survey results showed that 13.2% of the firms increased their investment capital and 60% of them plan to scale up their business operation in Vietnam, which are much higher than the 2016’s figures of 11% and 50%.
Professor Edmund Malesky from the US-based Duke University affirmed that this is the greatest optimism in the FDI sector since 2011, attributing the results to the Vietnamese Government’s policies to reduce the burden on FDI companies. Online registration to set up business has been put forth while required documents have been slashed down.

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The USA is going to impose new tariffs on 1300 Chinese goods

On 3 April 2018, Office of the United States Trade Representative issued the Notice of Determination and Request for Public Comment Concerning Proposed Determination of Action Pursuant to Section 301: China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation.
According to the document, on 15 May 2018 the Section 301 Committee will convene a public hearing on practices of the Government of China covered in the investigation are unreasonable or discriminatory and burden or restrict U.S. commerce.
Before 23 April 2018ы the interested persons need to fill requests to appear and a summary of expected testimony at the public hearing.

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China develops cooperation with the Greater Mekong Sub-region countries

On 31 March 2018, Wang Yi, Minister of Foreign Affairs of the PRC, delivered a speech on the sidelines of the 6th Greater Mekong Sub-region (GMS) Summit. The Minister noted that the six GMS member countries, namely China, Vietnam, Laos, Thailand, Myanmar and Cambodia, showed a strong momentum of growth.
Minister admitted China’s commitment to opposing protectionism and encouraged the partners to foster integration processes and liberalize trade and economic cooperation. Among the promising mechanisms he mentioned cross-border economic cooperation zones and new industrial parks. Wang Yi underlined that the parties need to develop digital economy, sharing economy and e-commerce.

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Asia-Pacific business presented five priorities in trade sphere

APEC Business Advisory Council (ABAC) prepared a draft of annual recommendations for the APEC Ministers Responsible for Trade. The document contains five key business recommendations aimed at promoting sustained growth, development and higher living standards in the region.
Of deepest concern to the business community is a rise in protectionism. ABAC recommends that Ministers continue to promote open markets for trade in goods, services and investment flows. At the same time, the ABAC members believe it is imperative that governments and business get on the front foot with real and meaningful measures that promote inclusiveness and the sharing of the benefits of economic growth.
As representatives of businesses in the region, the ABAC members acknowledge their responsibility to establish business models that address issues of inclusion wherever possible, including measures to better engage with work forces in transitions to new business models and retraining and upgrading skills of our workers. They call on Ministers to introduce policies that support an inclusive trading environment and take advantage of productivity gains that can be generated by increasing digitization and innovation. They also call on Ministers to implement measures that will facilitate the integration of small and medium enterprises into domestic and global supply chains.

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The 6th Myanmar International Agriculture & Food Industry Exhibition will be held in November 2018

Myanmar is blessed with abundant natural resources such as fertile land and water resources which provide the right environment for agribusiness development and domestic food production.
The purpose of the exhibition is to bring the industry together by offering a tradeshow floor with over 250 exhibits featuring machinery, equipment, supplies, services and other vendors with innovative products for the industry.
Last year, more than 9,000 visitors attended Myanmar International Agricultural and Food Industrial Exhibition, more than 230 exhibitors from over 13 countries and regions participated in the exhibition.

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Vietnam, Belarus ink business cooperation deals

Business cooperation between Vietnam and Belarus will be further developed following trade deals inked between the two sides in the northern province of Hung Yen on March 29, 2018 in the presence of Belarusian Deputy Prime Minister Vladimir Semashko.
A US$60 million deal on supplying trucks and specialised cars and memorandum of understanding on establishing a dairy plant in the province were signed on the day.
Joining in free trade agreements has opened up opportunities for collaboration between the two countries, Deputy PM Semashko said, recommending that Belarus and Vietnam should set up more joint ventures based on the principal of mutual benefits.
The Belarusian Government chose Hung Yen as the location for MAZ Asia joint venture to manufacture and assembly automobiles and the dairy plant, he said, adding that it is considering the construction of a bus assembling factory in the province.
Secretary of the provincial Communist Party Committee Do Tien Sy lauded Belarus’s socio-economic achievements, especially in automobile industry, agriculture and dairy and farm produce processing, expressing his hope that Belarus will land more high-tech projects in the province to boost its development.

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ASEAN Power Grid Summit to be held in May 2018

The hosting of ASEAN Power Grid Summit 2018 (APGS 2018) with its overarching theme, ‘Enhancing ASEAN Power Grid (APG) Investment towards Regional Energy Optimisation’ is timely in addressing pertinent and relevant issues in foregrounding the potentials of power sector of ASEAN countries and attracting more Foreign Direct Investments (FDI) into ensuring the success of meeting the rising energy demand and translating that into successful connections of power grids in ASEAN member states.

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FTAs to get input from Thai growers

The government of Thailand vows to seek and include comments from local farmers during any new trade talk efforts.
According to Auramon Supthaweethum, director-general of the Trade Negotiations Department of the Ministry of Commerce of Thailand, officials will pay on-site visits to hear opinions and suggestions from various groups of farmers to supplement the new free-trade agreement (FTA) talks.
“Currently the department is preparing information for the Thai-EU FTA talks and studying the feasibility of participating in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP),” Ms. Auramon said. “The on-site visits will thus allow the department to know the genuine information from farmers before the negotiators commence any talks.”

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Grab acquires Uber's Southeast Asia operations

Grab has acquired Uber’s Southeast Asia operations. According to an announcement, in exchange, Uber will take a 27.5% stake in Grab and Uber CEO Dara Khosrowshahi will join Grab’s board. Moreover, Grab is now backed by DiDi Chuxing and Uber, in addition to leading global investor SoftBank.
Grab will integrate Uber’s ridesharing and food delivery business in the region into Grab’s existing multi-modal transportation and fintech platform. It will also take over Uber’s operations and assets in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
For its food delivery services, Grab will rapidly expand its existing GrabFood businesses in Indonesia and Thailand to two more countries - Singapore and Malaysia - following the integration of the Uber Eats business. “GrabFood will be available across all major Southeast Asian countries in the first half of 2018,” the firm said.

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Gas Indonesia Summit & Exhibition 2018 to be held in August

Gas Indonesia Summit & Exhibition is the country’s premier event dedicated to the integrated natural gas and LNG industry, covering the fullstream natural gas value chain from upstream E&P, processing & refining, marketing and distribution, downstream utilisation and power generation.
As Indonesia's Only Fullstream Natural Gas & LNG Event, the Gas Indonesia Summit & Exhibition is supported by Special Task Force for Upstream Oil and Gas Activities (SKK Migas) and PT Perusahaan Gas Negara (Persero) Tbk (PGN).
Gas Indonesia Summit & Exhibition 2018 returns for the 3rd edition on 1st – 3rd August in Jakarta. The theme of the event will be “Accelerating Integration of Indonesia’s Gas & LNG Infrastructure.”
Important topics to be covered in 2018 include:
• Overcoming distributed natural gas demand across the Indonesian archipelago;
• Development of natural gas and LNG infrastructure in strategic areas: Central and Eastern Indonesia;
• Understand the latest reforms regarding natural gas pricing, allocation and utilization;
• Discover the natural gas virtual pipeline value chain in Indonesia: mini-LNG, LNG carrier, FLNG and FSRU, onshore LNG, truck;
• Update on PLN’s plans to tender for the procurement of LNG across 21 locations;
• Scenarios for the use of CNG as a feedstock for power plants;
• Opportunities in Indonesian Deepwater Development projects for gas supply;
• Learn about the Trans-Indonesia Gas Pipeline; interconnection between regions and how this will affect supply.

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