Asia Briefing Business Operational Update

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12 JANUARY 2022	View in Browser

This week's primary foreign investment news
from our ASEAN, China, India, Russia, Belt & Road and Vietnam Briefings.
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HEADLINES: Setting up in Vietnam, new foreign investment opportunities in ASEAN and India, regional trade corridors developing from Iran, China’s Foreign Minister visits Africa, China negotiating an FTA with the Gulf Cooperation Council, can China’s IP protection mechanisms be trusted?

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How to Set Up a Representative Office in Vietnam

A Representative Office (RO) is one of the most popular and common market entry options for foreign investors in Vietnam. An RO offers a low-cost entry option for businesses that want to get a feel of the Vietnamese market before making a commitment to a bigger investment in the country. Vietnam Briefing gives an overview of what is needed to set up an RO, including compliance, reporting, and tax requirements.

Qualifying as a Reputable Exporter and Importer in Indonesia

Indonesia’s MoT Reg 17/2021 describes a reputable exporter and importer as a business that has shown a high level of compliance to implement the laws and regulations set by the government in regard to imports and exports. According to The Jakarta Post, the government has identified over 700 businesses that can be considered reputable. The types of business licenses reputable exporters and importers are eligible to receive are called the export approval license and the import approval license. We explain what these are and how to apply.

Philippines Senate Passes Bill Allowing 100 Percent Foreign Ownership of Public Services

The Philippines Senate has passed the third and final reading of Senate Bill (SB) 2094, which amends the Public Service Act by enabling the 100 percent foreign ownership of public services, such as telecommunications, airlines, shipping, and railways. The bill opens public utilities to foreign investment and 100% ownership in Electricity distribution; Electricity transmission; Airports; Seaports; Water pipeline distribution and sewerage; Tollways and expressways; and Public utility vehicles and creates a significant new avenue for attracting investment into Philippines infrastructure.

How Can Investors Seize Vietnam’s Wind Power Potential?

Vietnam has emerged as one of the leaders in wind capacity and renewable energy adoption among ASEAN countries. Investors should be aware of the significant potential for renewable energy, especially wind capacity in Vietnam due to its geographic features and natural resources. Following Vietnam’s net-zero pledge at COP26, Vietnam Briefing examines why wind energy has the potential to become the primary renewable energy source.

Profiling India’s EdTech Industry: A US$10 Billion Opportunity

We profile the latest trends in India’s Edtech industry, whose rapid growth has been further propelled by Covid-19 disruptions. India has a total of five Edtech unicorns, three of which emerged in 2021. The Indian Edtech industry’s future valuation is pegged at US$30 billion, backed by fast digitizing markets as well as uncertainty related to the pandemic. India permits 100 percent FDI in the education sector under the automatic route of approval.

Bangladesh Makes Formal Application To Join Eurasian Economic Union

Bangladesh has formally proposed to the Eurasian Economic Union (EAEU) to strike free-trade agreement (FTA), as the country prepares for a socioeconomic status change. The proposal was made last week on the back of a visit by the Eurasian Economic Commission (EEC), the financial and regulatory arm of the EAEU so that it could seek concurrence of its member-states: Russia, Belarus, Kazakhstan, Armenia, and Kyrgyzstan. Bangladesh is a member of SAARC and BIMSTEC Trade Blocs and offers significant opportunities for Russian and EAEU investors.

Iran Gives Go-Ahead For Ardebil Free Trade Zone On Border With Azerbaijan

Opportunities for opening up to consumer markets in Armenia, Belarus, India, Kazakhstan, Kyrgyzstan, Pakistan and Russia.

China Looking For Free Trade Agreement With Gulf Cooperation Council

China has been the largest export market for GCC countries since 2012 and is the main oil and commercial partner to the GCC. China has upgraded relations with all of them to ‘strategic economic partnerships’ and all six GCC member states - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates - have joined the Belt and Road Initiative.

China’s Foreign Minister Wang Yi Visits Eritrea, Kenya & Comoros: Report & Analysis

China’s Foreign Minister Wang Yi has been on his traditional New Year visit to Africa, just one year after Africa united as a Free Trade Area under the African Continental Free Trade Agreement (AfCFTA) which permits the duty-free sourcing and combining of African manufactured components and products into a finished item for both resale on the AfCFTA markets or for re-export. This gives significant opportunities to access other markets and combine with other manufacturers, such as with Renault, a dominant player in North Africa.

China is Committing to Strengthening IP Protections. But Should Foreign Companies Take it in Good Faith?

In September 2021, China released a blueprint titled Guidelines for Building a Powerful Intellectual Property Nation (2021-2035), which set the goal that by 2025, China wants “patent-intensive industries” and the copyright industry to account for 13 percent and 7.5 percent of China’s GDP, respectively. Simply put, this objective will render China a global leader in IP development and protection. At a micro level, China has been improving its laws and regulations on IP rights. According to the Report on China’s Intellectual Property Right Protection in 2020 released by the National Intellectual Property Administration (NIPA) in April, 2021, China revised and drafted four IPR-related laws and regulations in 2020 alone. That year, the country also issued six IPR-related judicial interpretations, drafted 20 policy documents, and released two national standards.

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UPCOMING EVENTS IN THIS MONTH

Looking Ahead to 2022: Doing Business in India

Webinar | January 19, 2022 | 2:30 PM India Time / 4:00 PM Vietnam Time / 5:00 PM China Time

Doing Business in Vietnam - Looking Ahead to 2022

Webinar | January 20, 2022 | 4:00 PM Vietnam Time / 5:00 PM China Time / 2:30 PM India Time

Unlocking Your ASEAN Potential – A Guide to Doing Business in 2022

Webinar | January 25, 2022 | 4:00 PM Vietnam / 5:00 PM Singapore / 9:00 AM UK

Looking Ahead to 2022: Investing and Doing Business in China

Webinar | January 26, 2022 | 5:00 PM China Time / 4:00 PM Vietnam / 10:00 AM CET

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