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ICT Update | September 12, 2019
Authors: Riley Smith, Ella Duangkaew, Taylor Dumaine
LOOKING AHEAD
(Washington, D.C.) – The Board of Directors, members and staff of the US-ASEAN Business Council (US-ABC) extend condolences to the people of Indonesia and the Habibie family on the passing of former President of Indonesia Bacharuddin Jusuf (B.J.) Habibie on September 11 at age 83.
“On behalf of the US-ASEAN Business Council, I send heartfelt condolences to the family of former President B.J. Habibie and the people of Indonesia,” said Alexander C. Feldman, US-ABC President and CEO. “I am saddened to learn of the loss of the former president, who served during a time of great change, leading Indonesia into democracy. In his previous role as Minister of Research and Technology he became known as the Father of Indonesian Technology, helping propel Indonesia’s development and promoting technology transfer to the country.”
(Bangkok, Thailand) – The US-ASEAN Business Council led its 20th consecutive delegation to the 51st ASEAN Economic Ministers’ Meeting (AEM) for a business mission September 8-10. The delegation had plenary meeting with all ASEAN Economic Ministers, bilateral meetings with heads of delegation from six ASEAN Member States, the ASEAN Secretariat, and the ASEAN Business Advisory Council, U.S. Government officials from the Office of the U.S. Trade Representative (USTR), the U.S. Mission to ASEAN, and United States Agency for International Development (USAID).
(Bangkok, Thailand) - From September 3-6, a delegation of seven major U.S. energy companies participated in the US-ASEAN Business Council’s business mission to the 37th ASEAN Ministers on Energy Meeting (AMEM) and Associated Meetings in Bangkok, Thailand. It was the 9th time that the Council has led a business mission to AMEM, which brings together delegations from the Energy Ministries of all ten ASEAN countries, as well as the countries that participate in the AMEM+3 and the East Asia Summit Energy Ministers Meeting (EAS EMM).
Thailand Update | September 5, 2019
Authors: Ella Duangkaew
LOOKING AHEAD
Location: Bali, Indonesia
Date : August 27, 2019
Participants : 100 SMEs
Member participants : Visa, Facebook and FedEx
Partner : The Ministry of Cooperatives and Small and Medium Enterprises of Indonesia
Overview
Investors have set their eyes on “seriously looking at Thailand ” as the U.S.-China trade war ramps up, according to the president and CEO of U.S.-ASEAN Business Council, Alexander Feldman.
Vietnam has frequently been cited as one of the largest beneficiaries in the trade war as companies shift their production out of China to avoid tariffs.
However, Vietnam’s labor market is tightening, and businesses are now looking to move manufacturing into other Asian countries instead — and that includes Thailand, Feldman told CNBC on Tuesday.
The U.S.-China trade war, which has lasted over a year, has seen both countries impose duties on billions of dollars worth of imports from each other. In a tweet last Friday, after announcing more tariffs on Beijing, U.S. President Donald Trump “ordered” American companies to “immediately start looking for an alternative to China.”
The prolonged trade fight between the United States and China is reordering the global supply chain and Vietnam could stand to be a winner for investors, according to a senior executive at U.S. investment firm General Atlantic.
As American companies plan to move their manufacturing bases outside China, countries in Southeast Asia could be the biggest beneficiaries, Sandeep Naik, head of India and Southeast Asia at General Atlantic, told CNBC’s “Street Signs ” on Tuesday.
“If you look at certain sectors like auto and chemicals, you see a large outflow of those manufacturing opportunities moving to Vietnam,” he said, adding that the investor community is closely watching for new investment destinations in the region.
General Atlantic has about $35 billion assets under management. The company invests in start-ups with high growth potential in four main areas: consumers, financial services, health care and technology.
The US-Asean Business Council is is calling for the Thai government to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the successor to the 11-country pact that President Donald Trump pulled his country out of in 2017.
Commerce Minister Jurin Laksanawisit, who met representatives from the council on Thursday, said US businesses also urged the government to settle negotiations — now nearly four years behind schedule — for the 16-country Regional Comprehensive Economic Partnership (RCEP).
They remarked that Thailand joining the CPTPP would greatly benefit US investors in Thailand, Mr Jurin said.
"American investors would like to know about the government's policies for a modern and digital economy, e-commerce and foreign direct investment promotion," he said.