Planning your investment budget in ASEAN in 2021

New business guide on doing business in ASEAN 2021

Alberto Vettoretti Managing Partner Hello edward,   To encourage economic recovery, ASEAN countries continue to relax travel restrictions for foreign visitors. Recently, Thailand introduced a special tourist visa scheme to allow visitors to enter and stay in the country for up to 200 days while Indonesia issued Regulation No. 26/2020 to facilitate foreign visitors' entry. Investors that would like to check their eligibility and apply to enter these countries as well as other ASEAN countries can contact us for support.   Another important update is about Cambodia's first free trade agreement, signed on October 5 with China. The agreement is expected to be ratified by both governments by early next year and help boost bilateral trade between the two countries to US$10 billion by 2023.   Notably, as 2021 is approaching, I am very pleased to introduce our latest business guide, Introduction to Doing Business in ASEAN 2021, compiled by our local experts. This publication promises to provide investors with a comprehensive overview of the investment landscape in all ten ASEAN countries and help you decide which member state can best accommodate your business goals and accelerate your growth.   Additionally, for further information and guidance on where to invest in some specific ASEAN countries such as Vietnam and Indonesia, readers can check out our Planning your investment budget in 2021 series.   I hope you find the resources helpful and please don't hesitate to share them with your connections. Should you have any enquiries, please do not hesitate to contact us.     Until next time, take care!   UPDATES ON DOING BUSINESS IN ASEAN The Coronavirus in Asia and ASEAN – Live Updates by Country   Daily updates on the Coronavirus outbreak in the region.       READ MORE Relocating Your Business Operations to Indonesia: A Guide for US Investors Indonesia's robust economic growth, sound fiscal policies, and political reforms have long made the country an attractive investment destination for US investors. READ MORE Indonesia Issues Latest COVID-19 Immigration Measures   Visit visa holders and limited stay visa holders are now allowed to enter Indonesia, provided they adhere to strict health measures.   READ MORE Audit and Compliance in Malaysia: A Guide for Foreign Investors   All companies incorporated in Malaysia must have their accounts audited by a Ministry of Finance approved auditor as mandated by the Companies Act of 2016. READ MORE Why Singapore is a Good Base for Establishing Financial Treasury Centers Singapore's investor-friendly tax and legal regimes as well as its integrated financial system make the country an ideal destination to establish a financial treasury center. READ MORE The China-Cambodia FTA to Become Cambodia's First Bilateral Free Trade Agreement The signing of the agreement signifies the entry of the two countries into a new era of comprehensive strategic cooperation partnership.   READ MORE Malaysia's Healthcare Sector: A Rising Giant in ASEAN     Malaysia operates an internationally lauded healthcare system, fueled by investments in world-class facilities and quality human resources. READ MORE Five Belt & Road Projects in ASEAN that SME Investors Should be Looking at for Opportunities An op-ed article by Chris Devonshire-Ellis about five primary projects that are about to reach maturity in ASEAN.   READ MORE Planning Your 2021 Investment Budget: Opportunities in Vietnam     As businesses prepare their 2021 investment budgets, Vietnam will continue to appeal to foreign investors looking at the ASEAN region. READ MORE ASIAPEDIA [Webinar Recording] Investing in Vietnam's Healthcare Sector: Emerging Opportunities and Entry Strategies   Vietnam's recent economic and demographic growth brings great opportunities for healthcare. According to Fitch Solutions, Vietnam's healthcare expenditure was approximately US$17 billion in 2019, equivalent to 6.6 percent of its GDP. With COVID-19 increasing public concern about the local healthcare system, the demand for higher quality and specialized healthcare services has escalated significantly, especially among the growing middle class in Vietnam. With consumers becoming more health-conscious and willing to spend on health services, healthcare expenditure is expected to reach a CAGR of 10.7 percent in the coming years.   In light of the emerging opportunities in Vietnam's healthcare industry, this webinar aims to provide investors with a big picture of the sector in Vietnam, its challenges and opportunities, key driving factors contributing to its promising future, and initial guidance on how foreign investors can set up a healthcare business in Vietnam. WATCH NOW NEW PUBLICATION [New Publication] An Introduction to Doing Business in ASEAN 2021   Published: October 2020   Since its inception, ASEAN has seen growth in sectors such as manufacturing, retail, transportation, and telecommunications. This has resulted in ASEAN becoming an economic powerhouse with an estimated GDP of US$9.3 trillion as of 2019 – Indonesia represents some 40 percent of the bloc's economic output — and the bloc is projected to be the world's fourth-largest economy in 2050.   ASEAN members have continued to take steps to improve the ease of doing business through reforming legal and trade frameworks as well as investing in infrastructure and sophisticated manufacturing capabilities. The financial, technology, and health sectors are new growth drivers for the region as new initiatives drive the bloc to adopt high-tech solutions.   The aforementioned factors will ensure ASEAN remains attractive to foreign investors, in particular for those looking to move a part or all of their manufacturing activities from China.   This publication, designed to introduce the fundamentals of investing in ASEAN, is out now and available for download through the Asia Briefing Publication Store. 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