Greater connectivity at all levels of East Asian countries would help the region prosper in the long term, but this could only be possible if and when a greater number of public and private organisations participate in a study on the comprehensive development plan.
“The Asean secretariat, along with various other institutions, is working on a 'comprehensive Asian development plan' and this is work in progress, it is not yet finished. We are still seeking participation, contribution, advice from the private sector and all parties concerned,” Surin Pitsuwan, the secretary-general of the Association of Southeast Asian Nations (Asean) said recently.
The East Asian countries, he said, should take a leading role in formulating a new regional road map by helping form the comprehensive development plan.
The plan, he says, is one that would encompass the 16 members of the East Asian economies – the 10-member Asean, China, Japan, South Korea, India, Australia and New Zealand.
Vietnam: Manufacturing to remain the key driver of growth
We expect robust exports, led by strong global demand for electronics, to continue to underpin solid economic growth over the remainder of this year with GDP forecast to rise close to 8%.
GDP growth was unchanged at 4.5% y/y in Q1. Manufacturing activity surged, while the recovery in service sector activity and construction continued albeit at a more subdued pace as some localised social distancing measures were reinstated.
Vietnam Lao Cai popularises Sa Pa-Fansipan tourism trademark
The Indonesia-Singapore Bilateral Investment Treaty Comes into Effect
Through the upgraded DTAA, the tax rate on branch profits was reduced from 15 to 10 percent, and the tax rate on royalties for copyrighted works of literature, arts, and film, and eight percent for the use of industrial, scientific, or commercial equipment was lowered from 15 to 10 percent.
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