ICT Update | September 27, 2019
Authors: Ella Duangkaew, Jamie Lim, Taylor Dumaine LOOKING AHEAD
Vietnam Update | September 27, 2019
Authors: Hai Pham and Taylor Dumaine LOOKING AHEAD
October 8: Roundtable with Vietnam Trade Promotion Delegation (Vietrade - MOIT), Washington DC
by BERNAMA/ pic by BERNAMA
NEW YORK – Prime Minister Tun Dr Mahathir Mohamad touted Malaysia’s business-friendly stance as he went about wooing American investors to the country on Thursday.
“In general, Malaysia is still the same Malaysia that once upon a time was very friendly with business people, a country that encouraged foreign direct investment and grew on the basis of such investment,” he said of the nation that he leads as prime minister for the second time, since May 2018.
“It’s the same although I am now no longer in the Barisan Nasional (BN) but the ideas are still coming a lot from me,” he said at a meeting with members of the United States-ASEAN Business Council and US Chamber of Commerce here.
Besides being business-friendly, he said that investors could expect a country that would be listening to the private sector.
NEW YORK, Sept 27 — Malaysia remains very business friendly and continues to welcome foreign investments in the country, said Tun Dr Mahathir Mohamad.
“Malaysia is still the same Malaysia that once upon a time was very friendly with business people, encouraged foreign direct investment, grew on the basis of such investment and solved our unemployment problem.
“It’s the same although I am now no longer in Barisan Nasional but the ideas are still coming a lot from me because the new Cabinet is new and a lot of things are brought to my desk and I will try to resolve them for the ministers.
“But the ministers are learning fast so you can expect Malaysia to be the Malaysia that is business-friendly, that will listen to the private sector, that will depend more on the private sector and less on government-run companies,” he said during a meeting with the US-Asean Business Council and the US Chamber of Commerce here.
On the sidelines of the 74th Session of the United Nations General Assembly (UNGA) in New York, Prime Minister Prayut Chan-o-cha expressed confidence Thailand will become a high-income nation in 17 years.
"By 2036, Thailand will become a high-income country with fairness, respect for basic human rights, and participation of all sectors of society," he said.
The premier made the remarks during a speech about Thailand's perspective on the evolving international landscape at the Asia Society in New York on Wednesday.
In his speech, Gen Prayut said he has laid the foundation for development over the past five years and moved the country forward under the leadership of an elected government.
Gen Prayut also said Southeast Asia -- which is a part of the United States' Indo-Pacific strategy -- is a region of opportunity.
"It has a high working-age population, above-average economic growth, and the region itself is manufacturing hub," he said.
THE trade conflict between the United States and China may be benefiting the Philippines in the short run, but the country, as with fellow Southeast Asian countries, is bound to take a stronger hit from an overall slowdown in export demand if the tariff war is protracted.
That’s why the Philippines has to take stronger action in pushing for the end of the trade conflict, according to Michael W. Michalak, senior vice president and regional managing director of the US-Asean Business Council. “It is kind of hard to separate Asean from the rest of the trade figures because most of the trade figures are all put together,” he said.
“We have obviously seen an impact on trade as exports are down, and exports are down all over the world. I guess the most important thing about the conflict is that nobody wins a trade war. President Trump has said over and over again, trade wars are easy to win, [but] I don’t know on what he bases that,” Michalak said.
AMERICAN investors are more inclined to set up shop in Vietnam than in the Philippines, as they find Hanoi the best investment destination in Southeast Asia due in large part to its fiscal incentives menu and regulatory policy on businesses, a former United States ambassador has said.
Michael W. Michalak, senior vice president and regional managing director of the US-Asean Business Council, said Vietnam is the most preferred investment site among Southeast Asian economies for American investors. The preference may be attributed to the country’s competitive incentives package, as well as to its management of investments, explained Michalak, who was former US ambassador to Vietnam.
Michalak said it also works to Vietnam’s advantage that it is enhancing its menu of incentives to net some of the investments flying out of China in the face of its trade conflict with the US.
(Singapore) - The East-West Center (EWC), the US-ASEAN Business Council and the ISEAS - Yusof Ishak Institute launched the 4th edition of the ASEAN Matters for America/America Matters for ASEAN publication today in Singapore to follow the Washington, D.C. release of the publication. The publication can be accessed here. The Singapore launch event also highlighted the 51 additional ASEAN Matters one-page information fact sheets detailing ASEAN’s relationship to each American state and the District of Columbia.
(New York City) – On the evening of September 26, the US-ASEAN Business Council (US-ABC) and the U.S. Chamber of Commerce were pleased to host His Excellency Dr. Mahathir Bin Mohamad, Prime Minister of Malaysia on the sidelines of the 74th UN General Assembly (UNGA) in New York. The occasion marked Prime Minister Mahathir's second engagement with the US-ABC and U.S. Chamber of Commerce around the UNGA since his reelection last year.
Prime Minister Mahathir met U.S. business leaders, members of the US-ABC and U.S. Chamber of Commerce, for a roundtable discussion. Business leaders were able to hear about the Government of Malaysia’s plans for further implementing its political and economic reform agenda in the second year of the Pakatan Harapan coalition’s leadership of the country. Discussion centered on the Malaysian government’s focus on strengthening’s the country’s economic fundamentals, increasing productivity and ensuring sustainable and inclusive growth.
Singapore Update | September 25, 2019
Authors: Riley Smith, Lilibeth Almonte-Arbez, Taylor Dumaine LOOKING AHEAD