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Japanese investors view Vietnam as a more attractive

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Japanese investors are viewing Vietnam as a more attractive investment destination, with higher growth potential for industrial development, particularly in the textile and components industries, the Ho Chi Minh office of the Japan External Trade Organisation (Jetro) said.

Managing director Yoshida Sakae yesterday said compared to Thailand, Vietnam is like a child while Thailand is an adult with decades of industrial development.

At present, there are roughly 1,000 Japanese companies in Vietnam and around 7,000-8,000 firms in Thailand, said Sakae.

He said the Vietnamese government had a clear direction to develop the country's industry. Some companies are constructing steel-blast furnaces and refineries in Vietnam as they are basic manufacturing. The government has set the target to make Vietnam an industrial country by 2020.

The advantages of investing in Vietnam are low labour cost and a larger market than Thailand as the country has a population of 68 million people. Hence, consumption in Vietnam is growing every year.

via Japanese investors turn focus on VN.

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Asean

ASEAN, Korea webinar to showcase youth perspectives on digital partnership

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ASEAN, Korea webinar to showcase youth perspectives on digital partnership

SEOUL, 25 JANUARY 2021 – The ASEAN-Korea Youth Academic Webinar, held by the ASEAN-Korea Centre, is set to take place on 27 January at 2PM (KST).

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Asean

The Latest on Covid-19 in Southeast Asia

Thailand has largely avoided widespread community transmission of Covid-19, but the kingdom is not faring well on the economic front, with a projected contraction of 7.1 percent this year.

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Coronavirus Asia

As a region, Southeast Asia has fared relatively well in keeping coronavirus cases low, with the notable exceptions of the Philippines and Indonesia.

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Laos

China’s debt-trap diplomacy: Laos’ credit rating downgraded to CCC

Laos’ debt challenge is deeply concerning, with some media commentators suggesting the country is falling into a debt trap as a result of Chinese infrastructure investments connected to the Belt and Road Initiative (BRI)

Boris Sullivan

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On 23 September, the Fitch Ratings agency downgraded Laos’ credit rating to CCC — the second downgrade in 2020, having dropped to B- in May.

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