Philippines to Allow 100 Percent Foreign Ownership of Public Services

Further, the Philippines may face a long road to recovery than its ASEAN neighbors. It imposed harsher and longer-lasting lockdowns and stimulus packages issued by the government have been more conservative compared to other ASEAN members.

Uncertainty ahead for Xi’s China

Despite spectacular bounce-back growth in the first half of the year, China’s economy had slowed dramatically by year’s end. Worries centred on the property market, a perennial concern for over a decade due to fears of overheating. 

Two years ago: Thailand reports first case of Covid-19 outside China

On January 3, a few days after authorities reported a cluster of atypical pneumonia in Wuhan, Thailand started to screen passengers from China for symptoms of acute respiratory infection.

Developing Economies risk “Hard Landing” in 2023 says World Bank

Growth in EAP is projected to decelerate to 5.1 percent in 2022, reflecting a slowdown in China. Thailand’s economy is expected to recover gradually over the next two years, with growth picking up in 2022 and strengthening to 4.3 percent in 2023.

Philippines Introduces New Economic Zone Authority Visa for Foreigners

The PEZA applications are processed within 10 business days (from the previous time of 1 month) and the visa is valid for up to two years with the option of renewing once for another two years, for a maximum validity period of four years.

Thailand steps up COVID-19 curbs nationwide

Published in the Royal Thai Government Gazette on 8 January, 2022, the announcement also officiated the Centre for COVID-19 Situation Administration’s (CCSA) decision to reopen 3 more Sandbox destinations – Krabi, Phang-Nga, and Surat Thani (only Ko Samui, Ko Pha-ngan, and Ko Tao) from 11 January, 2022 – in addition to Phuket. 

Wavering Consumers Confidence Due to Omicron Variant

According to TRA Vice President Chatchai Tuongratanaphan, the Retail Sentiment Index (RSI) for December 2021 showed a less-than-optimistic outlook due to new COVID-19 infections from the Omicron strain. The RSI in December was at 68.4, increasing only 6 points compared to 62.1 in November.