Asia Briefing Business Operational Update

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16 MARCH 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: 2022 China Business Confidence and Rural Revitalization, Philippines Attracts Investment In Low-Income Retail, Singapore Digital Logistics, India's Auto Components Industry and Upcoming Free Trade Agreements, Russian Banks Offer RMB Yuan Deposit Accounts, Southern Multimodal Route To Replace Russia Rail Routes To Europe.

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CHINA

Insights from AmCham South China’s Latest Survey on 2022 Business Outlook

Despite many uncertainties, such as travel restrictions, IPR, profitability amid the pandemic, and US-China tensions, the outlook of businesses in China going into 2022 was net positive, according to AmCham South China’s latest survey. That’s because most companies accepted that China’s economic prowess made it an undeniably attractive investment destination and one that is unlikely to be replaced by any other country in the near to medium term.

China’s Rural Revitalization Strategy: Opportunities for Investment

China’s Rural Revitalization Strategy is a core component of the government’s goals to promote more balanced economic and social development and to eliminate poverty. While many foreign investors set their eyes on China’s developed urban metropolises, a significant amount of the country still lives in rural areas. We discuss the key investment and business opportunities for foreign companies aligning with the goals of China’s rural revitalization program in this article.

ASEAN

Philippines Mom & Pop ‘Sari-Sari’ Retail Attracts US Investment

Founded in 2016, GrowSari is a leading tech-enabled B2B platform that helps the Philippines’ small physical retail stores, including neighborhood retail shops (sari-sari stores), roadside and market shops (carinderia), and pharmacies, enhance their service levels and access a wider range of products and value-adding services. This allows the stores to provide local communities with more comprehensive offerings, including digital services.

New Digital Logistics Platform Investments for Singapore

The Haulio platform connects last-mile container haulers with shippers and has transacted about 2.5 million twenty-foot equivalent units (TEU) since 2017, with over 50 percent of the TEUs transacted in 2021 alone. Haulio expects to triple its revenue numbers by the end of 2022 riding on the recovery of the global supply chain. Revenue numbers have grown from US$1.6 million in 2018 to US$4.1 million in 2019 to US$5.8 million in 2020.

INDIA

India’s PLI Scheme for Automobile and Auto Components Industry: Full List of Approvals Released

The Indian government has released the full list of beneficiaries for the Production Linked Incentive (PLI) Scheme for Automobile and Auto Component Industry. On March 15, 2022, 75 companies secured PLI approval under the Component Champion Incentive Scheme, including Maruti Suzuki, Hero MotoCorp, Tata Autocomp, Mitsubishi Electric, Toyota Kirloskar, Motherson Sumi, Bosch, and Lucas-TVS.

Updates On India’s Pending 2022 Free Trade Agreements

India is pushing for fresh FTAs and trade concessions with major economies and regional blocs in 2022 as it chases an ambitious export target of US$450-500 billion by FY23. As on March 7, merchandise exports crossed US$380 billion and is expected to reach US$410 billion in 2021-22; services exports likely to go over US$240 billion.

Impact On Asia From Russia Sanctions

Unblocking Caucasus Transport Corridors Between Russia & Azerbaijan

Russia needs to open up new supply chain routes in the wake of the massive wave of sanctions that has enveloped much of its European potential and start to improve transport and logistics to the East. That includes routes from Russia and the Caucasus, no easy feat in that the significant Caucasus mountain ranges divide the two regions. Russia needs to develop better access especially through to Baku, Azerbaijan’s major Caspian Sea Port.

Russian Bank Begins To Offer Chinese RMB Deposit Accounts With 8% Interest

Russia’s state-run VTB Bank, which is now under US sanctions, has offered its clients the opportunity to open Chinese yuan savings accounts that stipulate a maximum interest rate of 8%. VTB said in a statement that “in light of the rising dollar and euro exchange rates, many clients are showing interest in investing in other currencies, and the yuan is one of the most affordable and promising options for investing funds”.

BRI

Southern, Russia-Avoiding Belt & Road Multimodal Route Receives First China Blockchain Rail Cargo In Azerbaijan For Dispersal To Turkey, Bulgaria And Romania

With Russia now under sanctions and ports inaccessible, the main rail route from China to the European Union has shifted south to the multi-modal route provided by using the Caspian Sea. There are still inefficiencies along this route, which exits Kazakhstan at its Caspian Aqtau Port and then ships across the Caspian Sea to Azerbaijan’s Baku Port, where it can then rejoin rail networks to Turkey and the Black Sea, with additional onward Port access to the southern EU with Bulgaria and Romania.

Belt And Road Weekly Investor Intelligence #72

All the very latest news from across the Belt and Road Initiative.

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UPCOMING EVENTS IN THIS MONTH

How to Prepare Your China Annual Individual Income Tax Reconciliation (ATR) for 2021

Webinar | March 23, 2022 | 4:00 PM China / 3:00 PM Vietnam / 9:00 AM CET

How to Achieve Favorable Terms When Signing A Lease Agreement for Your China Business

Webinar | March 24, 2022 | 4:00 PM China Time / 3:00 PM Vietnam / 9:00 AM CET

New Venture Finance: Startup Funding Masterclass for Entrepreneurs

Online | March 25-26, 2022

Cost Increases for Production Companies: Counter-Strategies, Controlling and Best Practices

Seminar | March 29, 2022 | 2:00 - 5:00 PM China Time

China’s 2022 Economic & Social Policies from the Two Sessions

Webinar | March 30, 2022 | 3:00 PM EST / 12:00 PM PST / 9:00 PM CEST

In-Person Singapore MBA Event

Event | April 5, 2022 | 5:00 - 9:40 PM EST | Suntec Singapore Convention & Exhibition Centre

ANUFOOD China 2022

Trade Fair | April 20-22, 2022 | Shenzhen, China

E-Commerce Markt in China

Webinar | May 18, 2022 | 10-11:30 Uhr MEZ / 16-17:30 Uhr China

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