03 NOVEMBER 2021View 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: We have an in-depth examination of Singapore’s role in ASEAN and its use to foreign investors in a new issue of ASEAN Briefing magazine, as well as looking at trade rebound developments in Cambodia and Vietnam. We look at ASEAN’s increasingly tight relations with China and what these mean, while in China itself we see what Xi Jinping had to say at Cop26 about climate change and visit the fourth new megalopolis in Sichuan. For expats, we look at the tax risks when considering PR status in China.


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ASEAN
New Issue of ASEAN Briefing Magazine: Using Singapore As A Base For Expansion Into ASEAN
Singapore has long been a preeminent destination for setting up a regional headquarter to pursue business opportunities across ASEAN and Asia. The new issue of ASEAN Briefing Magazine is out now and available to subscribers as a complimentary download in the Asia Briefing bookstore. Subscription is free. In this issue: Streamlined Business Setup Process; Benefitting from Singapore’s Tax Policies and Free Trade Network; Singapore as a Hub for Regional Digital Expansion.
 
ASEAN Summit: China Wants To Upgrade Ties To A Strategic Comprehensive Partnership
China is looking to upgrade its ASEAN ties to a “Strategic Comprehensive Partnership”. It already has an extensive free trade agreement with the bloc, whose members include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. ASEAN is China’s largest trade partner with annual bilateral volumes at US$685.28 billion in 2020.
 
Vietnam's Business Recovery: 4 Industries To Watch
As Vietnam gradually reopens and heads towards a new normal, we look at key industries that have suffered and how they are geared for recovery. Despite supply chain disruptions, Vietnam continues to maintain a positive outlook maintaining its position as a manufacturing hub. While’s challenges remain, Vietnam’s medium-term outlook helped by climbing vaccination rates and consumer demand will ensure its speedy recovery.
 
Cambodia To Establish Sihanoukville Multi-Purpose SEZ
The Cambodian government is working to transform Sihanoukville province, also known as Preah Sihanouk province, into a multi-purpose special economic zone (SEZ) after the province received the designation earlier this year. The designation stands to give Sihanoukville province more latitude in structuring development initiatives and investment incentives into a wider array of areas.
 
 
CHINA
China-Worldwide Tax Implications For Permanent Residence Card Holders
Many foreigners have concerns over getting a Chinese Permanent Residence Card as they are not sure whether this will impact their tax residency status in China, or whether they will be liable to pay tax on worldwide income in the country. We discuss the tax residency status of foreigners with a Chinese Permanent Residence ID Card and their tax liability on worldwide income in the country.
 
The Chengdu-Chongqing Twin City Circle: Boosting Regional Development
First announced in 2019, this project aims to address developmental imbalances by integrating two of the most economically active cities in western China – Chongqing and Chengdu – into a mega-city cluster, focusing on developing key infrastructure and industries. The new Chengdu-Chongqing Twin City Region will be the fourth economic cluster to be built in China and the first in the west of the country, following the Beijing-Tianjin-Hebei (BTH) region in the north, the Yangtze River Delta region in the east, and the Greater Bay Area in the south.
 
Xi Jinping Climate Change Speech To Cop26: Analysis
Chinese President Xi Jinping provided a written statement to the United Nations COP26 climate summit in Glasgow on Monday. There are signs that political differences may give way to practical US-China cooperation and investment to meet emissions targets.
 
 
 
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UPCOMING EVENTS IN THIS MONTH
 
Doing Business in Vietnam
Webinar | November 4, 2021 | 8:00 AM PDT / 11:00 AM EDT / 5:00 PM Brussels
 
ACBC Digital Bootcamp #2 - Navigating HR / Staffing issues in China in a world of closed borders
Webinar | November 4, 2021 | 11: 00 AM AWST / 2:00 PM AEDT
 
Doing Business in India in 2021 (Ведение бизнеса в Индии в 2021 году)
Webinar | November 10, 2021 | 4:30 PM IST/ 2 PM Moscow Time/ 1:00 PM CET
 
Investing & Doing Business in Foshan – Industrial Upgrade & Automation in the GBA
Webinar | November 10, 2021 | 16:00 China Time / 15:00 Vietnam / 9:00 AM CET
 
Tax Incentives in China: How Businesses Can Successfully Utilize Them
Webinar | November 16, 16:00 China Time / 15:00 Vietnam / 9:00 AM CET
 
Ready for 2022: Health Checks for a Compliant, Risk-Controlled, and Efficient Business
Webinar | November 24, 2021 | 5:00 PM China Time / 4:00 PM Vietnam / 10:00 AM CET
 
 
 
 
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