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Following TPP signing, Japan eyes Vietnam as export base

Thailand, where auto industry growth is slowing, was cited by 59.7% of companies, but that is a dip of 2.2 points from last year.

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With the signing of the Trans-Pacific Partnership, Japanese manufacturers are looking even more favorably on the ASEAN region and especially Vietnam as a base of operations.

Some 43.8% of respondents to a survey by the Mizuho Research Institute cited the Association of Southeast Asian Nations as the region where they plan to devote their greatest efforts moving forward.

Thailand, where auto industry growth is slowing, was cited by 59.7% of companies, but that is a dip of 2.2 points from last year. Interest in Indonesia waned 4.7 points to 41.5%.

That is an increase of 2.3 percentage points over the survey conducted last year and the fourth year in a row that ASEAN topped the list.

The think tank conducted the survey in February, targeting Japanese manufacturers capitalized at 10 million yen ($92,000) or more. The institute received valid responses from 1,100 companies.

Increasing interest in Vietnam was clear from the responses. Asked to list the ASEAN countries in which they plan to focus, 53.5% of manufacturers cited Vietnam, up 4.9 percentage points over last year.

With the signing of the TPP this February, Vietnam has gained attention as an export base for textiles and other products.

Source: Japan manufacturers eye Vietnam as export base- Nikkei Asian Review

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Banking

Malaysia, Thailand banks to join the ASEAN Banking Integration Framework

Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to become a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Pursuant to the bilateral arrangement under the ASEAN Banking Integration Framework (ABIF) between Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) which was concluded in April 2019, banking institutions from Thailand and Malaysia are invited to indicate their interest to be a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.

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Tech

Global fashion e-tailer Shein launches new hub in Singapore

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Shein has websites for Singapore, Indonesia, Thailand, Vietnam, and the Philippines and has plans to create a standalone website for Malaysia too.

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