10 FEBRUARY 2021View in Browser
 
 
 
 

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This week's primary foreign investment news
from our ASEAN, China, India, Russia, Belt & Road and Vietnam Briefings.

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In this week's Asia Briefing Weekly we include a Covid-19 advisory concerning preparations for Chinese New Year, important reading in light of the pandemic. We also give overviews of India's negotiations concerning free trade with ASEAN and the UK, how Tesla tax structured their new manufacturing plant into India. In ASEAN, we look at developments in Thailand, Myanmar and Vietnam and have a look at a cool car from the Belt & Road Initiative.
 
 
 
 
Covid-19 Advisory: How Businesses Should Prepare For Chinese New Year 2021
The 2021 Chinese New Year will be abnormal due to disruptions caused by the COVID-19 outbreaks and restrictions. Foreign businesses with supply chains in China and Asia should stay in touch with suppliers, prepare inventory stock, ensure product quality control, and settle payment beforehand to avoid any supply chain disruption.
 
INDIA
 
India, UK Agree To Immediate "Enhanced Trade Partnership"
India and the UK have reached agreement to fast-track free trade and market access, and a full free trade agreement could be in place by June, with an interim deal agreed with immediate effect. UK exporters should be assessing the India market.
 
India, ASEAN Agree To Review FTA Scope, Address Uneven Market Access
Trade ministers from India and ASEAN agreed to start discussions on reviewing the scope of the ASEAN-India free trade agreement (AIFTA),10 years since it came into force, to make it simpler, facilitate more benefits for businesses, and streamline customs and regulatory procedures. India wants to collaborate with ASEAN to produce generic drugs and medical technologies used for COVID-19 treatment.
 
How Tesla Structured A Tax Efficient Investment Strategy Into India
Tesla chose to route its manufacturing investment into India via the Netherlands, a tax-friendly jurisdiction. This allows the company to avail benefits on capital gains and dividend payments and easily import its latest intellectual property / technology from its Dutch subsidiary to India.
 
CHINA
 
Beijing To Give Away US$1.55 Million In Digital Yuan On Wednesday
The Beijing Government is to give away RMB10 million (US$1.55 million) on Wednesday as part of the trials of introducing a digital currency. 50,000 randomly selected individuals will be given RMB200 in digital currency, who can then use the e-CNY through certain apps or the digital wallets of designated stores and restaurants in Wangfujing.
 
China Promulgates New Extra-Jurisdiction Measures
These new measures provide a retaliation clause, stating that China is ready to take the necessary countermeasures against any 'improper' extraterritorial application of foreign laws and measures. In this way, China is sending a message, warning against unjustly prohibiting or restricting Chinese people or companies from doing business.
 
ASEAN
 
Thailand's Latest Tax Relief Package To Reduce Business Operating Costs
Thailand’s government has issued its latest tax relief package to assist businesses impacted by the pandemic. This latest package includes the reduction of land and building tax by 90 percent for 2021, in addition to extending the filing deadline for personal, value-added, and withholding taxes.
 
Myanmar's Prospects For Post-Coup Foreign Trade & Investment
Prospects depend on the extent of US sanctions, with the ‘One Year’ Military term in power likely to be scrutinized. US businesses may need to consider other Asian sourcing options.
 
Green Buildings In Vietnam: How Sustainable Are They?
Green buildings are swiftly building momentum in Vietnam, representing significant investment opportunities for investors. Green building materials are opening new market segments in Vietnam with significant room for design innovation.
Belt And Road Initiative
 
An Italian Designed, Belt And Road Hypercar
The Italian auto engineering and design startup, Silk EV has just announced a Joint Venture with China’s FAW and will be producing an electric hypercar. It is the first BRI investment dealing with electric vehicles. Italy joined the BRI in 2019.
 
Russia-China Amur River Bridge To Be Open From August: Industrial Parks Being Built.
Commercial traffic on the new railway bridge between Russia and China across the Amur River will begin in August this year. Construction of the 2,200-meter bridge between Nizhneleninskoye in Russia and Tongjiang city in China underline Russian moves to develop ties with China.
 
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UPCOMING EVENTS IN THIS MONTH
 
 
2020 Year in Review and Outlook for China, India, and Vietnam in 2021
Webinar | February 18 | 3:00 PM Vietnam Time
 
Investment and Export Opportunities for Belgian Companies into Vietnam and Thailand
Webinar | February 24, 2020 | 9:00 AM Central European Time
 
How to Prepare Your China Annual Individual Income Tax Returns (ATR) for 2020
Webinar | February 25, 2021 | 3:00 PM China
 
Vietnam's Integration into Global Value Chains: How does Vietnam Differ from its Regional Peers?
Webinar | February 26, 2021 | 2:00 PM Vietnam Time
 
E-Commerce: Was ist für bayerische Unternehmen jetzt realistisch?
Webinar | 03. März 2021 | 08:30 Uhr MEZ
 
China Market Entry Strategies: China Britain Trade Expo
London | March 3, 2021 | 9:00 AM
 
Crash Course on Doing Business and Investing in China's Greater Bay Area in 2021: Session I
Webinar | March 4, 2021 | 3:30 PM China
 
Manufacturing in India 2021: New Champion Sectors and Incentive Schemes
Webinar | March 11, 2021 | 2:30 PM India Time
 
 
 
 
 
 
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