Connect with us

Asean

Indonesia to propose an ASEAN Regional Minimum Wage

Indonesia has announced its intention to propose a regional minimum wage for ASEAN during a recent World Economic Forum

Avatar

Published

on

Indonesia has announced its intention to propose a regional minimum wage for ASEAN during a recent World Economic Forum event held on the first and second of June in Kuala Lumpur.

During the event, Indonesian officials cited wage disparities between low cost production hubs such as Vietnam and those economies with more expensive labor forces.

They also expressed concerns that these differences could result in a race to the bottom and ultimately lead to the exploitation of workers.

The specifics of Indonesia’s proposal are expected to be released at the upcoming ASEAN manpower ministers’ meeting.

 

Indonesia

Indonesia Promotes ASEAN Minimum Wage

Indonesia to propose an ASEAN Regional Minimum Wage

Indonesia to propose an ASEAN Regional Minimum Wage

Vietnam

An Introduction to Rules of Origin for Vietnamese Exports

For businesses seeking to take advantage of tariff free exports and low labor costs, Vietnam is the place to go. In 2015, industry and construction made up a third of its national GDP and with the recent signing of several free trade agreements, including the European Union-Vietnam FTA (EVFTA) and the Trans-Pacific Partnership (TPP), this amount is expected to rise. As a compliment to pending agreements, Vietnam already benefits from operational FTAs with members of the Association of South East Asian Nations (ASEAN), China, Japan, South Korea, India, New Zealand, Australia, and Russia.

Although FTA agreements present a tempting way to lower export costs, the ability to tap into their benefits is largely contingent upon compliance with elaborate rules outlined within each agreement. At hundreds of pages in length, agreements set out specific tariff concessions and compliance requirements at a product specific level. In order to ascertain the manner in which goods will be treated,  it is first necessary to identify the HS code that will be designated to the finished product. This is to determine the applicable tariff.

Singapore

Singapore – Australia Announce Updates to Existing FTA

The Singapore-Australia relationship was recently strengthened by the joint announcement of a Comprehensive Strategic Partnership on 6 May 2016. The partnership is based on the third review of the 2003 Singapore-Australia Free Trade Agreement (SAFTA), aimed at addressing current business needs of the two economies and furthering integration.

The third review will address education, science and innovation, labor mobility, and defense collaboration between the two countries. Importantly, the agreement will also cover the partnership between Singapore and Northern Australia on agribusiness and encourage Singaporean and Australian companies to work on securing reliable supply chains in the agribusiness sectors. The most significant upgrade of the agreement is the facilitation of government procurement contracts through the reduction of red tape.

About UsAsia Briefing Ltd. is a subsidiary of Dezan Shira & Associates. Dezan Shira is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in China, Hong Kong, India, Vietnam, Singapore and the rest of ASEAN. For further information, please email [email protected] or visit www.dezshira.com.

Stay up to date with the latest business and investment trends in Asia by subscribing to our complimentary update service featuring news, commentary and regulatory insight.

 

 

Comments

Asean

Supporting disadvantaged women key to achieving SDGs in ASEAN

The study, which holds a gender lens up to each of the SDGs of the 2030 Agenda, confirms that when two or more forms of discrimination overlap, barriers increase

Asean News

Published

on

Supporting disadvantaged women key to achieving SDGs in ASEAN, new data shows

JAKARTA, 1 March 2021 – Women and girls across South-East Asia who are members of an ethnic minority, live in a rural location, or suffer from poverty are at greatest risk of being left behind despite the region’s recent progress in gender equality, according to a new report by ASEAN and UN Women.

(more…)
Continue Reading

Ecommerce

Has Covid-19 prompted the Belt and Road Initiative to go green?

Oxford Business Group

Published

on

Has Covid-19 prompted the Belt and Road Initiative to go green?
– Covid-19 led to a slowdown in BRI projects
– Chinese overseas investment dropped off in 2020
– Government remains committed to the wide-ranging infrastructure programme
– Sustainability, health and digital to be the new cornerstones of the initiative 

Following a year of coronavirus-related disruptions, China appears to be placing a greater focus on sustainable, digital and health-related projects in its flagship Belt and Road Initiative (BRI).

As OBG outlined in April last year, the onset of Covid-19 prompted questions about the future direction of the BRI.

Launched in 2013, the BRI is an ambitious international initiative that aims to revive ancient Silk Road trade routes through large-scale infrastructure development.

By the start of 2020 some 2951 BRI-linked projects – valued at a total of $3.9trn – were planned or under way across the world.

However, as borders closed and lockdowns were imposed, progress stalled on a number of major BRI infrastructure developments.

In June China’s Ministry of Foreign Affairs announced that 30-40% of BRI projects had been affected by the virus, while a further 20% had been “seriously affected”. Restrictions on the flow of Chinese workers and construction supplies were cited as factors behind project suspensions or slowdowns in Pakistan, Cambodia and Indonesia, among other countries.

Read More

Continue Reading

Startups

Vietnam Loship secures investment from Skype co-founder

This capital injection marks Loship as the first portfolio company of MetaPlanet in Vietnam and Southeast Asia.

Avatar

Published

on

Hanoi (VNS/VNA) – Loship, Vietnam’s fast-growing one-hour-delivery e-commerce startup, has announced its latest investment from Skype co-founder Jaan Tallinn.

(more…)
Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,634 other subscribers

Trending