Asia Briefing Business Operational Update

Asia Business Operational Updates For Global Foreign Investors

29 DECEMBER 2021 View in Browser

This week's primary foreign investment news from our ASEAN, China, India, Russia, Belt & Road and Vietnam Briefings. ---

HEADLINES: Two New Complimentary ASEAN business publications, China further opens its markets to foreign investment and Vladimir Putin's annual Q&A. This week we have published two new 2022 business guides to ASEAN and Vietnam, must reads for any executive invested or interested in these markets. We look at further liberalization of China's domestic market, Fintech opportunities in India and discuss fundamental differences between China's Belt and Road Initiative and the United States proposed 'Build Back Better World' plan. Finally, Vladimir Putin gives his annual media Q&A with a wide-ranging series of topics that will affect Asia and beyond in 2022. Click here to go straight to the main news page, or if you think your colleagues should be receiving this then please forward this to a friend and let them know. Subscriptions are available here

China Lowers Tariffs On 954 Products In Response To RCEP On January 1st To promote the high-quality opening of markets, China will apply agreed tax rates on selected goods originating in 29 countries and regions for 2022 in accordance with China's free trade agreements (FTA), including the Regional Comprehensive Economic Partnership (RCEP) and the China-Cambodia FTA, both of which will come into effect on January 1, 2022.   The Completed China-Laos Railway: Bringing Opportunities for ASEAN and the Asia Pacific This US$6 billion project (equivalent to one-third of Laos' GDP) is backed by China as part of its Belt and Road Initiative (BRI) and is a linchpin of the deepening ties between the two countries. Traveling to the Chinese border now takes less than four hours compared to the 15 hours by car and costs US$33 for a second-class seat. At Boten, the line heads north some 595km before ending in Kunming, the capital of China's Yunnan province, and could significantly transform connected this landlocked mountainous country and attract greater foreign investment and tourists. Logistics costs from Vientiane to Kunming are expected to drop by some 40-50%.   RCEP and Vietnam: New Opportunities for Investors Just like the EU-Vietnam free trade agreement (EVFTA), the UK-Vietnam free trade agreement (UKVFTA), and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP, the RCEP will reduce tariffs and set trade rules, and help link supply chains, particularly as governments grapple with COVID-19 effects. The FTA is expected to cover all aspects of the business including trade, services, e-commerce, telecommunications, and copyright though negotiations over some aspects still need to be finalized. Tariffs are expected to be reduced within 20 years.   What Hanoi's Positive FDI Infrastructure Build Tells Us About Its Business Environment Hanoi continues to be a leading FDI destination, attracting investment despite the pandemic. The capital city boasts a good business environment, infrastructure, and top-sourced talent. To further attract investment, the government has announced an economic recovery plan for the next five years, with a vision towards 2030.   All Eyes on Vietnam: Why 2022 is an Ideal Time to Invest Vietnam offers favorable conditions for foreign investors for numerous reasons: Strategic location, ample workforce with competitive labor costs, and a relatively open environment for FDI to only name a few. However, the pandemic outbreak in the summer months of 2021 with heavy restrictions and supply chain disruptions led to uncertainties; thus foreign investors may remain insecure on whether 2022 is the right time for bold investment. We think 2022 is an ideal time to invest.   How British Business Can Access China's New £18 Trillion Asia RCEP Free Trade Agreement via the Back Door Market access for the UK - although the UK is not a signatory to the RCEP agreement, there are indirect ways in which British businesses can access this market, including China, through the back door. This is because the UK has signed free trade agreements with various member states of the RCEP. We examine these British agreements.   Russia-Singapore Trade Ties To Boom In Wake Of Free Trade Agreement Singapore is Russia-business friendly with ease of bank account opening a major draw for Asian regional exports, trade, and investment. Russia and Singapore said they look forward to the "expeditious completion" of the Services and Investment Agreement between the two countries – a key component of the EAEU-Singapore FTA currently being negotiated.

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UPCOMING EVENTS IN THIS MONTH   Looking Ahead to 2022: Doing Business in India Webinar | January 19, 2022 | 2:30 PM India Time / 4:00 PM Vietnam Time / 5:00 PM China Time   Doing Business in Vietnam - Looking Ahead to 2022 Webinar | January 20, 2022 | 4:00 PM Vietnam Time / 5:00 PM China Time / 2:30 PM India Time   Unlocking Your ASEAN Potential – A Guide to Doing Business in 2022 Webinar | Tuesday, January 25, 2022 | 4:00 PM Vietnam / 5:00 PM Singapore / 9:00 AM UK   Looking Ahead to 2022: Investing and Doing Business in China Webinar | Wednesday, January 26, 2022 | 5:00 PM China Time / 4:00 PM Vietnam / 10:00 AM CET

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