26 OCTOBER 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:

Curated by Chris Devonshire-Ellis

This week we look at the foreign trade and investment issues that came out of China’s recent CPC Congress (good news for foreign exporters in particular) as well as take a look at China’s ‘sustainable fashion’ industry. In ASEAN we look at wage levels in Thailand and IP in Indonesia, while we have a new complimentary magazine download for those interested in India’s education sector. The Middle-East continues to heat up and we examine current UAE-India trade and discuss whether the new British Prime Minister can deliver a pending GCC trade agreement. We complete the round up with our usual analysis of what’s going on along the Belt and Road Initiative.

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CHINA
The 2022 CPC Congress: Impact On Foreign Trade & Investment
The CPC was clear in its objectives as concerns trade over the new 5 year plan. It is continuing its policy of developing and encouraging wealth creation within its middle class and is aiming for more than a doubling of that between now and 2035. This brings huge opportunities for global manufacturers looking to export to China, as well as to service companies wishing to deal with Chinese consumers home, and abroad.
 
Sustainable Fashion in China: An Emerging Trend in the Apparel Industry
The sustainable fashion movement is taking the fashion and apparel industry by storm, as people around the world are increasingly conscious of the environmental impacts of their consumption habits. The sustainable fashion trend is also beginning to take root in China, driven by young, urban, and increasingly environmentally conscious consumers. By some measures, the fashion and apparel industry is responsible for 4-10 percent of global greenhouse gas emissions. As China seeks to radically reduce its greenhouse gas emissions, sustainable fashion has the potential to transform the country’s fashion and apparel industry – but requires long-term investments to drive cultural change among consumers.
 
ASEAN
Thailand Increases Daily Minimum Wage Rates for 2022
Thailand has increased the daily minimum wage rates across all its provinces by an average of five percent. The last time the daily minimum wage increased was in 2020. As such, the new daily minimum wages range from 328 baht (US$8.59) at its lowest to 354 baht (US$9.27) at its highest.
 
Intellectual Property Financing in Indonesia
Indonesia’s GR 24/2022 is a new regulation that allows people and businesses in the creative economy to use their IP assets as collateral for financing from banks. The government hopes this will boost the chances for players in the industry to access financing, which has hindered the sector’s growth potential. GR 24/2022 is scheduled to come into force in July 2023.
 
INDIA
Investing in India’s Education Market – New Issue of India Briefing Magazine Out Now
Investing in India’s Education Market, the latest publication from Dezan Shira & Associates is out now and available for free download through the Asia Briefing Publication Store. India has among the largest networks of higher education institutions in the world and the largest schooling system. Yet, with almost 27% of the population in the 0-14 years age group and a median age of about 28.4 years, India’s education needs still require major infrastructure upgrades and expansion of facilities and quality access. Foreign investors are part of the solution.
 
MSMEs in India Now Eligible for Non-Tax Benefits After Reclassification
Micro, Small, and Medium Enterprises (MSMEs) in India can continue to receive their non-tax benefits for a period of one to three years after they have achieved upward growth in investment and/or turnover. This means that a ‘micro’ business making a larger turnover in a financial year and/or increasing investment in plant and machinery or equipment, which would see them graduate to become a ‘small’ business – can still take advantage of non-tax benefits for up to three years after this change in their status.
 
MIDDLE EAST
Will New UK Prime Minister Sunak Help Along The Pending UK-GCC Trade Deal?
The United Kingdom has a new Prime Minister in Rishi Sunak, the first time an ethnic Indian has held the role. Given both the UK’s and India’s close trade and economic ties to the GCC, we look at the prospects for Sunak to deliver a meaningful trade agreement for the UAE.
 
UAE-India Trade and Investment Summary, YTD 2022
UAE-India bilateral trade reached around US$72 billion in FY2021-22. An expected increase of that to US$100 billion – an additional US$28 billion – is expected to occur within the coming five years, indicating an average increase of US$5.6 billion per annum from now until 2027. These are significant figures, from which UAE investors may access by targeting India, and India investors can access by targeting the UAE. We outline the benefits of these markets for exporters from both.
 
BELT & ROAD INITIATIVE
Belt And Road Weekly Investor Intelligence #104
In which we examine Xi Jinping’s statements concerning the BRI at the latest CPC Congress, look at Indonesia’s potential for joining BRICS, and examine Turkmenistan’s increasingly important role in the Middle Corridor. The Western end of that is developing as Georgian trade increases, while Azerbaijan improves Turkiye’s access to Baku by opening a new international airport in the disputed Nagorno-Karabakh region. Meanwhile, India’s purchasing of cheap oil from Russia may spur European investment into the country as manufacturers go on the hunt for cheaper energy solutions.
 
 
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UPCOMING EVENTS IN THIS MONTH
 
Joint Venture Success in China: Deadlock Prevention and Countermeasures
October 27, 2022 | 4:00 PM China / 3:00 PM Vietnam / 10:00 AM CET
 
Diversify your Business to India: Opportunities and Channels of Entry
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Meet us at the 17th Asia Pacific Conference of German Business (APK) in Singapore
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Manufacturing in India in 2023: Emerging Opportunities, Leading Sectors, and Incentive Schemes
Webinar | November 15, 2022 | 2:30 PM India Time / 4:00 PM Vietnam Time / 5:00 PM China Time
 
Stock Incentive Plans in China: Maintaining Compliance While Motivating Your Employees
Webinar | November 24, 2022 | 4:00 PM China / 3:00 PM Vietnam / 9:00 AM CET
 
China Market Entry Strategies: China Britain Trade Expo
London | November 28, 2022 | 9:00 AM
 
 
 
 
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