During his reception for a delegation of the US-ASEAN Business Council (UABC) led by President of its Vietnamese committee Alexander C. Feldman in Hanoi on March 29, Luu applauded great contributions made by US enterprises to Vietnam’s economy over the past years.
He said that the UABC has worked as a bridge between US businesses and Vietnam, thus contributing to the enhancement of cooperative relations between the two nations and governments.
The Vietnamese legislature has paid due attention to new moves and policies of President Donald Trump’s administration, especially those related to trade and investment, he said, noting that Vietnam always regards the US as one of its leading partners in terms of economy and trade.
JAKARTA, NNC - Indonesia Coordinating Minister for Political, Legal and Security Affairs Wiranto has assured that the 2018 Regional Election will not interfere with investment security in Indonesia.
"We guarantee that [investment] stability will be maintained during the 2018 Regional Election and 2019 General Election," Wiranto said at the Office of the Coordinating Ministry for Political and Security Affairs in Jakarta, on Wednesday (03/14).
The former TNI (Indonesian Military) Commander said the guarantee of investment security in Indonesia was one of the topics discussed when he received Michael Michalak, Senior Vice President and Regional Managing Director of US-ASEAN Business Council and delegates at the Ministry's office on Wednesday.
JAKARTA, NNC - The US-ASEAN Business Council has expressed appreciation for the improvement of ease of doing business ranking in Indonesia. This was said by Minister of Trade Enggartiasto Lukita after accompanying President Joko Widodo in a meeting with President/CEO of the US-ASEAN Business Council Alexander Feldman at the Merdeka Palace on Tuesday (3/13/2018).
"This is an appreciation of what has been done and the rise of our ease of business ranking. Then they expressed some commitments to continue the investment," said Minister Enggartiasto as quoted from the official website of the Secretariat of State, Wednesday (3/14). As is known, in the "Doing Business 2018" published late October 2017, Indonesia's ranking rose from position 91 in 2017 to position 72 in 2018.
Indonesian President Joko Widodo wants Australia to become a full member of ASEAN, signalling Friday he is keen on Canberra playing a bigger regional role in defence, trade and security matters.
His comments come with Australia hosting a special summit of Association of Southeast Asian Nations (ASEAN) leaders in Sydney, as China increasingly flexes its muscle and the threat of violent extremism grows.
"I think it's a good idea," Widodo told the Sydney Morning Herald, referring to Australia joining ASEAN -- the first time an Indonesian president has endorsed the concept.
"Because our region will be better, (for) stability, economic stability, and also political stability. Sure, it will be better."
Australia has been a dialogue partner of ASEAN, which groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, since 1974.
Speaking to 41 US-based companies grouped under the US-ASEAN Business Council on Tuesday morning, the President underlined the significance of investment into Indonesia from the world’s top economy.
“American investment into Indonesia has been sizeable and plays an important role in the Indonesian economy,” Jokowi said during a meeting with the council at the Merdeka Palace.
Realized foreign direct investment (FDI) in Indonesia by US firms surged by 71.5 percent to US$1.99 billion last year, driven by 625 projects. That is significantly higher than the 30 percent growth to $1.16 billion seen in 2016, spread across 540 projects.
The US stood still as the sixth-largest foreign spender in the archipelago over the 2016-2017
Jakarta - Representatives of the US-ASEAN business council kicked-off their three-day visit to Indonesia by meeting President Joko Widodo (Jokowi) at the Merdeka Palace today, March 13. The US-ASEAN business council president Alexander C. Feldman brought 41 major enterprises in this visit.
“The president was happy to accept us. We talked about our experience on industries in the U.S. and discussed the changes in Indonesia,” said Alexander at the presidential palace complex in Jakarta on Tuesday, March 13.
The enterprises he invited come from numerous sectors such as gas, technology, health, up to tourism; “They are Procter and Gamble, Axa, Coca-Cola, Expedia, Cigna, Apple, and Amazon,” said Feldman.
The head of a US business delegation rated the Philippines’ as one of the most attractive destinations for foreign direct investments owing to the country’s positive economic prospects, and urged local stakeholders to work more closely with American firms on the technology front.
In an interview, Ambassador Michael Michalak of the US-Asean Business Council said he had led a group of US business people to meet with government officials and learn more about the plans of the Duterte administration for the Philippines.
“We were all impressed by what we heard from the economic managers,” he said. “If only half of what they said they would do would happen, that would make the country very attractive for investors like us.”
The vision of modern, urban Viet Nam is usually associated with foreign giants such as Microsoft or IBM, which have partnered with Da Nang and Ha Noi to realise their smart city dreams. However, as it stands, several made-in-Viet Nam solutions for smart homes, meters and transportation fleet management, are ranked highly even in the global market, Tuan said during a smart city talk held on Thursday in Ha Noi by the Ministry of Planning and Investment and the Thailand-based Amata group.
Tuan stressed that with the advent of the fourth industrial revolution, with IoT at its heart, smart solutions will be necessary in the future where automation and Artificial Intelligent reign, freeing humans from repetitive labour and allowing them to focus on more innovation and creative works.
“Most importantly, the ultimate purpose of any smart initiative, including a smart city, is to improve quality of life,” he added.
The Tax Reform for Acceleration and Inclusion or TRAIN bill is about to roll off with the ratification of the first package of the Duterte administration’s comprehensive tax reform program. This is a welcome development especially for millions of fixed-income earners who will enjoy significant reduction in their personal income taxes once the proposed bill is signed into law on Dec. 19. Those earning P250,000 or below annually will be exempt from paying income taxes.
As Finance Secretary Sonny Dominguez noted, this is a wonderful Christmas and New Year’s gift that government can give to Filipinos because this will mean more disposable income for them. Sonny enjoys a very high trust rating with many Filipinos and happens to be a very close personal friend of the President.
Companies want to invest in the Philippines. The country’s greatest asset is its incredible people and their skills, commitment to hard work and team orientation. While American business supports most parts of the Tax Reform and Acceleration and Inclusion (TRAIN) bill, which was passed by the Senate and House, there is one particular part of the bill which could send the wrong signal to international investors and long-term friends of the Philippines.