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Foreign Retail Companies Invest in Vietnamese Market

The emerging market of Vietnam poses interest to overseas retailers. Owing to the population of 95 million, large share of younger generations and growing standards of living, the retail market is considered as profitable. The market was opened for foreign investors in 2017, when Vietnam joined the WTO.
Xiaomi Group, Chinese hi-tech company, opened its first Mi Store in Vietnam in early 2018. By the end of the year the shop network will cover 15 cities in the country. GS25 Retail, a company from the Republic of Korea, has launched a joint enterprise with Son Kim Group to open 2500 stores in Vietnam by 2028. Thai investors are eager to enter Vietnamese market too: Berli Jucker purchased Metro Viet Nam, Central Group is the new owner of Big C Viet Nam. Vingroup acquired Maximark, Ocean Mart and Vinatexmart.

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Chinese authorities continue the financial sector reform

In 2017 China alleviated control over foreign shareholders of financial entities. In late February 2018 the China Banking Regulatory Commission (CBRC) released the new rules for foreign banks. According to the policies, overseas financial institutions can invest in Chinese banks and launch branches on the same basis, as domestic banks do. Furthermore, there is no more need to obtain approval for such items, as overseas wealth management products and portfolio investment funds. Foreign banks only need to report the services provided.
Since now on Chinese enterprises will have easy access to foreign lenders. The measures will boost positive effect of competition and have positive impact on Chinese economy. Moreover, the new policies are expected to strengthen ties between China and the economies with developed financial sector.

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National ranking of Russian regions` investment climate

According to the National ranking of Russian regions` investment climate 2017, the Republic of Tatarstan, as last year, took the leader position. The Chuvash Republic, Moscow, Tula and Kaluga Oblast formed the top-5.
Voronezh, Ivanovo, Leningrad, Kostroma and Moscow Oblast demonstrated the best dynamics in the top-20 by overall performance.

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Priorities of Russian EAEU chairmanship in 2018

In 2018 Russia assumed the chairmanship of the Eurasian Economic Union (EAEU) bodies. Russia’s chairmanship of the Union will be based on the priorities set forth by the Russian President Vladimir Putin in his address to the EAEU heads of state on January 17, 2018.
In addition to ordinary work on developing supranational regulations and eliminating some exemptions from the common market, Russia proposed to the partners a number of new initiatives and projects in the fields of nuclear energy, renewable energy sources, the environment, medicine, space exploration, tourism and sports. The formation of a common digital space of the Union will be a priority.

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Infrastructure development, digitalization and e-commerce in the ASEAN

Those of us who witnessed the founding of the Association of South East Asian Nations (ASEAN) in August 1967 could not have imagined how much was achieved in the last 50 years. ASEAN was born literally out of the ashes of colonialism and the Viet Nam War. It started as a security pact, but gradually evolved into an economic and financial community that is not yet a cultural common, mainly because of its celebrated diversity.
Today, ASEAN comprises 10 countries, covering a land area of 4.4 million square kilometres, 3 percent of global total, with over 630 million population or just under 9 percent of the world population. Its combined nominal GDP is already over US$2.55 trillion and if counted as a single entity, it would rank 6th in the world, behind the USA, China, Japan, India and Germany.

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ASEAN Digital Economy Development: Challenges and Opportunities

The ASEAN Economic Community (AEC) envisioned a deeply integrated and highly cohesive regional economy, which involves strengthening the overall competitiveness of ASEAN by means of fostering regional inclusive growth and development. Part of the integration process is to recognise Information and Communication Technology (ICT) as a key driver of ASEAN’s economic and social transformation.
To survive the global competition, ASEAN needs to promote digital economy in the region. This goal is supported by the current ASEAN ICT Masterplan (AIM) 2020, which focuses on the adoption of sustainable and environmentally friendly ICT. However, promoting digital innovation in ASEAN requires policy approaches that are designed to reap the benefits and address the challenges of digital economy in the region.

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On January 1, 2018, the Russian Federation assumed the chairmanship of the EAEU bodies

Vladimir Putin sent a message to the heads of the Eurasian Economic Union (EAEU) member states on the occasion of Russia assuming the rotating chairmanship of the EAEU bodies, namely, the Supreme Eurasian Economic Council, the Eurasian Intergovernmental Council and the Board of the Eurasian Economic Commission.
In his message Vladimir Putin emphasized that Russia regards the EAEU as a major regional integration organisation that is promoting the economic alignment of the five member states and their sustainable development towards the increased prosperity of the citizens.

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ASEAN Meets to Discuss Economic Priorities for 2018

Secretary-General of ASEAN Dato Lim Jock Hoi chaired the 8th Meeting of the Committee of the Whole for the ASEAN Economic Community (CoW) in Singapore on 21 January 2018 where the Member States laid out economic priorities for the year and cross-cutting issues.

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Philippines Hands Over CPR Chairmanship to Singapore

The Permanent Representative of the Philippines to ASEAN, H.E. Ambassador Elizabeth P. Buensuceso, handed over her duties as the Chair of the Committee of Permanent Representatives to ASEAN (CPR) to the Permanent Representative of Singapore to ASEAN, H.E. Ambassador Tan Hung Seng, at the ASEAN Secretariat on 8 December 2017.

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