The amended Law on Tax Management has recently been passed by the National Assembly in an effort to improve taxation on ecommerce activities. The law will enter into force on July 1st 2020 involving several changes. Under the new rule, The Ministry of Industry and...
Credit rating agency, Standard & Poor’s (S&P) upgraded the Sovereign Credit Rating of the Republic of Indonesia from BBB-/ Stable Outlook to BBB/Stable Outlook on 31 May 2019. In its report, S&P stated that one of the key factors that support the...
According to a research report by Japanese Bank Nomura, Malaysia is the fourth biggest beneficiary of the trade war. Vietnam is the biggest beneficiary, gaining 7.9% of its gross domestic product (GDP) as a result of increased exports, followed by Taiwan (2.1%) and...
The Philippines and South Korea have kickstarted negotiations for a Free Trade Agreement (FTA) aiming to conclude the negotiations during the South Korea – ASEAN Summit in November 2019. This will be the Philippines’ only second bilateral trade agreement following the...
Singapore has been ranked as the world’s most competitive economy for the first time since 2010, in a yearly ranking of 63 countries by the IMD World Competitiveness Centre, a research group based in Switzerland. The IMD World Competitiveness Rankings, established in...
The Thai Board of Investment (BoI) announced that it will set up a special task force in order to facilitate investment from Japan and China, as these countries are expected to relocate their production bases to other markets like Thailand. In particular, Thailand...
An amended law for improving taxation on e-commerce activities in Vietnam passed on June 13 will come into effect on July 1, 2020. Successful implementation would require close co-operation between banks, ministries, businesses and organizations. Under the amended...
US companies are guaranteed to have the most favorable conditions to invest and do business in Vietnam, said Deputy Prime Minister Trinh Dinh Dung at the 2019 US – Vietnam Business Summit. This was co-organized by the Vietnam Chamber of Commerce and Industry (VCCI),...
In May 2019, Indonesia launched the 2019-2024 Sharia Economy Masterplan, as part of the country’s national economic development initiative. The government has underlined four main strategic recommendations to develop the sharia economy in the country,...
Tun Dr Mahathir Mohamad, the Prime Minister of Malaysia, announced he is planning to set up a one-stop center to ease the approval process for investments and reduce red tape for foreign entrepreneurs and investors. The Prime Minister expressed his confidence that the...
A report by IHS Markit has forecasted Philippines’ GDP to double within the 2019-2026 period from USD 330 billion to USD 672 billion. Although the growth is expected to decelerate from now until 2020, it will remain above 6% . By 2020, GDP per capita is expected to...
The Monetary Authority of Singapore (MAS) announced on 8 May that it would be transferring SGD 45 billion (USD 33 billion) from the official foreign reserves (OFR) to the Government for management by one of Singapore’s sovereign wealth funds, GIC, so that these...
