Featured News
Stay on top of the latest business news from across Asia. Here we bring you a selection of the latest articles on economic, regulatory, tax, HR, and payroll developments published on our respective regional platforms.
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China Briefing
China Announces Industrial Equipment Upgrading Action Plan
China announced an ambitious action plan for industrial equipment upgrading, which aims to drive technological innovation and economic growth through extensive investment and regulatory support. We highlight the key details and takeaways from the plan.
China's Machine Tool Industry: Market Trends and Opportunities
China's machine tool industry, with a market value surpassing RMB 200 billion (approximately US$27.86 billion), heavily depends on foreign imports, creating diverse opportunities for global collaboration and investment, bolstered by substantial government incentives.
China Unveils New Guidelines on Optimized Payment Services for Foreigners: An Overview
To optimize payment experiences for foreign visitors and businesses in China, the People’s Bank of China has recently released a set of guidelines detailing the payment methods currently accessible to foreign nationals across the mainland.
Hong Kong Launches a New Capital Investment Entrant Scheme
Launched in March 2024, the New Capital Investment Entrant Scheme (New CIES) makes investing in Hong Kong easier for eligible individuals.
India Briefing
India-Mauritius DTAA Amendment Closes Tax Avoidance Loophole
India and Mauritius have agreed to abide by recent DTAA revisions, which include a PPT clause to prevent any unjustified tax avoidance.
The MedTech Industry in India: Outlook and Growth Drivers
India is implementing key initiatives aimed at growing the medical technology (MedTech) industry and attracting more foreign investments.
How Labor Market Intelligence Can Strengthen Your India Market Relocation Strategy
An effective labor market study will help company decision makers, such as C-suite executives, to make an informed choice that is best suited to their business undertaking.
India-Spain DTAA Notification: Lowered Tax Rates and Key Provisions
India has announced that tax rates on royalties and fees for technical services under the India-Spain DTAA will be capped at 10%, a rate lower than domestic laws, as per a most-favored nation basis, according to a March 2024 notification.
Vietnam Briefing
ESG Focus Among Foreign Businesses in Vietnam: VBF Report Highlights
We discuss findings from the VBF’s survey of foreign business stakeholders in Vietnam, including progress and concerns over ESG priorities.
Vietnam Adopts Hydrogen Energy Strategy to Boost Energy Transition
In a new strategy, Vietnam has laid out a range of development targets for the hydrogen industry for the period to 2030 and with a vision to 2050, which will support the country's sustainability and decarbonization goals. The Hydrogen Energy Strategy came into effect on February 7, 2024, and will be of interest to international investors and R&D stakeholders in the energy domain.
Why Cambodia’s Funan Techo Canal Project is Worrying Vietnam
The Funan Techo Canal project linking Phnom Penh to the coastal province of Kep has socioeconomic, political, and environmental implications for Vietnam.
Vietnam Proposes Regulatory Sandbox for Banking Sector: Draft Decree Guidelines
A new Vietnam Draft Decree proposes a Regulatory Sandbox in the banking sector focused on three solutions, provided either by credit institutions or fintech companies – credit scoring, open application programming interface (API), and P2P lending.
ASEAN Briefing
Lawrence Wong's Visit Boosts Singapore-Germany Relations
Singapore's Deputy Prime Minister and Minister for Finance Lawrence Wong recently concluded a visit to Germany. The visit focused on enhancing bilateral cooperation and addressing global challenges.
Understanding Personal Data Protection in Singapore
The Personal Data Protection Act (PDPA) provides baseline protection for personal data in Singapore.
Thailand Contemplates Protective Tariffs on Chinese Imports Amidst Surging Trade Deficit
The Thai government is considering imposing a VAT on Chinese goods priced less than 1,500 baht (US$40) that are routed through Thailand’s free trade zones.
Navigating Lao E-Commerce: Understanding the Latest Tax Regulations
The Ministry of Finance of Laos issued regulation number 0558/MOF which sets out the latest guidance regarding tax obligations for e-commerce and digital platform providers.