Tag Archives: Indonesia

ILN Today Post

09 JAN – ASEAN Today – Regional Legal and Business News – December 2017

Blockchain Technology
A recent report by a global business consulting firm argues that ASEAN will be the top investment destination in the region by 2025, replacing China, and that disruptive trends in the logistics sector will boost ASEAN’s position as a leading business hub. The report states that it expects blockchain to influence ASEAN’s supply chain management the most. A blockchain facilitates secure online transactions and is a continuously growing list of records linked and secured using cryptography. Blockchain use in the ASEAN region will help boost the logistics industry, accelerate trade growth, and support the rapid adoption of digital technology.

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ASEAN Today – Regional Legal and Business News – November 2017

ASEAN Investment Report 2017
The ASEAN Secretariat and the United Nations Conference on Trade and Development (UNCTAD) released the “ASEAN Investment Report 2017: Foreign Direct Investment and Economic Zones in ASEAN” at the 31st ASEAN Summit in Manila this month. The report states that even with the drop in global foreign direct investment (FDI) into developing economies, FDI flows into ASEAN in 2016 remained high. However, inflows into ASEAN did decline to US$97 billion in 2016 due to divestment,. This was due to ASEAN companies acquiring foreign assets in their home countries, and repayment of intracompany loans. Intra-ASEAN investment made up 25% of the total FDI inflows, an all-time high.

ASEAN Fintech Network
The ASEAN Fintech Network (AFN) launched this month and will be a platform to promote cross-border collaboration amongst members and help boost the region’s position as a Fintech hub. The AFN’s founding members are non-profit Fintech industry organizations from Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Fintech is an innovativeon and new technology, and is used to deliver financial services as an alternative to traditional financial methods. ASEAN has great potential for Fintech companies as it has a rapidly growing online population together with low banking penetration.

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ASEAN Today – Regional Legal and Business News – September 2017

ASEAN Business Survey
The Australian Chamber of Commerce released its Australian Business in ASEAN Survey 2017. The survey findings show that the top attraction for Australian businesses investing into the region is ASEAN’s growing consumer market, not the economic integration of the ASEAN Economic Community. Corruption is rated the top challenge for Australian companies doing business in ASEAN. Over 60% of the surveyed firms expanded their trade and investment in the region in the past two years and 85% plan to expand their investment in the next five years. Singapore is the favorite spot to operate a regional hub and Vietnam is the most popular market for expansion. Two-way investment between ASEAN and Australia was US$224 billion at the end of 2016.

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ASEAN Today – Regional Legal and Business News for August 2017

50 Years of ASEAN
The Association of Southeast Asian Nations (ASEAN) turned 50 this month. In the last half century, the region has become the world’s sixth-largest economy with intra-regional trade totaling US$550 billion in 2015. To date, ASEAN’s greatest economic achievement is tariff reduction. The average percentage of tariff elimination for all ASEAN member countries was 96% in 2016 and is expected to be 98.7% in 2017. However, the growth of non-tariff measures has tripled in the last 15 years. To address the challenges in completing the implementation of the ASEAN Economic Community (AEC), ASEAN will pursue trade liberalization and behind-the-border reforms, policy harmonization, and integration of national single windows for cargo clearance into the ASEAN Single Window.

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ASEAN Today – Regional Legal and Business News for April 2017

ASEAN Economic Community News

Civil Service Declaration
At the 30th ASEAN Summit in Manila, the heads of the ASEAN member states signed the Declaration on the Role of the Civil Service as a Catalyst for Achieving the ASEAN Community Vision 2025. The Declaration emphasizes the civil service’s role in providing good governance and vital public services and driving national and social development. The Declaration includes initiatives to enable ASEAN’s civil services to reach the highest standards of professionalism, efficiency, effectiveness, transparency, responsiveness, participatory approach, and accountability. At present, mechanisms to ensure the adoption of good governance need to be developed.

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ASEAN TODAY – REGIONAL LEGAL AND BUSINESS NEWS – JANUARY 2017

ASEAN Economic Community News

Chiang Mai Initiative
The ASEAN member countries and Japan, China, and South Korea (ASEAN+3) plan to expand the Chiang Mai Initiative, an emergency multilateral currency swap arrangement that helps manage regional short-term liquidity problems and prevent another currency crisis. Currently, the overall pool is US$240 billion, but only 30%, US$72 billion, can be authorized for release under ASEAN+3’s authority. ASEAN+3 wants to move this amount to 40%, a US$24 billion increase.

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The Dej-Udom & Associates Thailand ASEAN Newsletter for May 2016

New UN Report
In its latest Economic and Social Survey for the Asia Pacific, the United Nations (UN) is optimistic about the ASEAN Economic Community (AEC), but warns that the AEC is facing significant challenges at present. The report says that two of the region’s main challenges are the slowdown of exports and the region’s dependence on the Chinese economy. China is the largest export market for Singapore and Thailand, and the export of goods to China from Laos and Vietnam make up 20% of their national output. Other challenges include the differences in the development gaps, income inequality and unemployment, and rising household and corporate private debt.

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Dej-Udom & Associates Newsletter – March 2016

ASEAN Economic Community News

US-ASEAN Connect
The United States and the leaders of the 10 ASEAN member countries launched the US-ASEAN Connect, an economic cooperation initiative, during last month’s leadership summit in California. The initiative has four pillars. Business Connect to support increased commercial engagement between U.S. and ASEAN businesses in regionally important sectors. Energy Connect to assist in the development of power sectors using sustainable and innovative technologies. Innovation Connect to support Southeast Asia’s entrepreneurs through policy support, technical support, and knowledge exchange. Policy Connect to support ASEAN in creating a stable policy environment favorable to trade and investment. The US government also agreed to establish centers in Singapore, Jakarta, and Bangkok to support the initiative and coordinate US economic engagement in ASEAN.

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The Dej-Udom & Associates Newsletter for September 2015

COUNTDOWN 2015 – ASEAN Economic Community

Immediate AEC Benefits
In a new report, a global commercial real estate company maintains that the ASEAN Economic Community (AEC) integration will immediately benefit the member states’ industrial sectors and their local office and retail property markets. According to the report, more multinational companies (MNCs) and small and medium enterprises (SMEs) will be established in the AEC to take advantage of its benefits, in particular the regional logistics market which is expected to develop and grow. With the influx of new MNCs and SMEs, there will then be higher demand for industrial and office space in the ASEAN countries and subsequent growth in local supply.

SME Financing
A leading regional bank says that due to poor access to financing, few of Asia’s small and medium sized enterprises (SMEs) have the opportunity for the strong, sustainable growth needed to become part of the global supply chain. The bank says that overall in 20 Asian countries, 96% of all registered firms are SMEs which employ 62% of the labor force, but only contribute 42% of the economic output. To combat the problem, the bank recommends more access to bank credit and more involvement from the region’s governments to make it easier for SMEs to access new financing options like supply chain finance.

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