23 FEBRUARY 2022View 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: Numerous Investment Opportunities Around China, ASEAN, and India as RCEP Opens Up New Infrastructure and Market Development Corridors

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New China Guidelines Promote Transfer of Manufacturing to Inland Regions
China’s manufacturing sector is set to move from the developed east coast to the country’s inland regions – that is, the Central, Western, and North-East regions – per new government decrees. Together, these lay out a strategy building initiative to 2025 to promote the transfer of China’s manufacturing sector towards lesser developed regions. The policy seeks to facilitate already existing economic trends as the developed coastal regions are increasingly transitioning to service and innovation-driven growth models.
 
India-UAE CEPA: Key Gains for Exporters, MSMEs, Business Travelers
We examine the contents of the finalized India-UAE CEPA and identify key beneficiaries of the trade deal. The CEPA will come in effect in less than 90 days and aims to grow two-way annual trade to US$100 billion – up from US$60 billion – in the next five years. At the outset, elimination of the UAE’s five percent import duty on US$26 billion worth of products will significantly boost local industries in India. Meanwhile, the UAE will enjoy duty free access to 90 percent of India’s exports. The pact has also introduced a liberalized visa regime that includes a three-year visa for intra-corporate transferees and a 90-day visa for business visitors and contractual service suppliers.
 
Vietnam’s Binh Phuoc Province: An Emerging Investment Destination
Binh Phuoc province, one of the major industrial hubs in Vietnam’s Southern Key Economic Region, is known for its industrial, agricultural, commercial, and service investment. Following the successful model of Binh Duong province, Binh Phuoc has increasingly attracted new investment in infrastructure in industrial parks. We highlight the province along with three localities ripe for investment.
 
New Opportunities For Foreign Investors In Indonesia’s Construction Sector
These changes include simplifying the business licensing process, the obligation of technology transfer by qualified foreign construction workers, and the requirements for employers and contractors to meet the new security, safety, and health and sustainability standards set under GR 14/2021. According to a report by Fitch Solutions, Indonesia’s construction sector is expected to grow 8.4% by 2022, and that recovery is highly dependent on the government’s infrastructure spending.
 
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 100 percent foreign ownership of public services. SB 2094 makes a clear distinction between the definition of public services and public utilities since under the 1987 Constitution, only firms that are at least 60 percent owned by Filipinos are given the authorization, certificate, and franchise to operate as a public utility. This means that there will be no restriction on foreign ownership for industrial undertakings not classified as public utilities.
 
INSTC Develops With Iranian Port Links To Qatar
The International North-South Transportation Corridor will shortly offer Suez alternatives with links between Iran’s Chabahar Port and Qatar’s Hamad Port as the two countries discuss increasing maritime and air connectivity.
 
Belt And Road Weekly Investor Intelligence #69
There are significant trade and connectivity development issues this week as Eurasia intensifies its transportation and trade links in the face of mounting pressure for sanctions on Russia, which would impact the entire region. A new Eurasian trade ecosystem is emerging with implications for EU and Asian trade corridors and supply chains.
 
 
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