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MYANMAR
CAMBODIA
THAILAND
LAOS
VIETNAM
MALAYSIA
INDONESIA
PHILIPPINES
TABLE OF CONTENT
Editorial
Upcoming Events
EU-ASEANBusinessNetworks
(continues p.2)
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
Edition 8 / Octobre 2016Edition 8 / October 2016
Feature ArticleInterview with former Thai Deputy Prime Minister Mom Rajawongse Pridiyathorn Devakula on the role of FDI in frontier markets
For Europe Thailand is viewed as one of the most experienced investors in Myanmar given the tradition and the position of being next to Myanmar. So, based on your experience, especially
as the former deputy prime minister of Thailand, how important has foreign direct investment (FDI) been in the economic development of Thailand, in making the transition from a frontier market to a very mature ASEAN economy?
We started to industrialise our nation in the early 1960s. Before 1960, the government at that time tried to industrialise the nation by setting up state enterprises, to do a lot of manufacturing – things like clothing, textiles, and sugar. But state enterprises never work. They are not efficient, they are not productive. So finally, it failed.
At that time in Thailand, we did not have enough private equity. The economy was still very young, mainly agricultural. So when there was the new government coming up in the early 1960s, they decided we must industrialise our nation in the right way. We have to bring in private equity, private capital. So that’s why we feel that FDI is very important.
It was FDI that brought not only the private equity required, but also the technology and the market – and marketing-know-how. That is another thing that we can depend on a lot from foreign entrepreneurs, because they have been in the world market for quite some time. The domestic entrepreneur, or trader, did not have the market connections, so FDI has proved to be very important, and because of that our economy was able to take off at a very high rate. For the first 10 years, the growth rate on average was over 7 percent.
The EU-ASEAN Business Networks are pleased to present the 8th edition of the EU-ASEAN Business Update. This quarterly newsletter covers the work and market updates from European consortiums in eight ASEAN countries created under the European Union’s SEBSEAM (Support for European Business in South East Asian Markets) programme: Indonesia (EIBN), Malaysia (SEBSEAM-M), Thailand (EABC), Vietnam (EVBN), Philippines (EPBN), Cambodia (EuroCham Cambodia), Laos (ECCIL) and Myanmar (EuroCham Myanmar).
Since their creation, these Networks have been working to ensure that EU companies are able to do business in ASEAN markets as efficiently and openly as possible so as to boost the EU’s trade and investment in region.
Where possible and beneficial, these Networks cooperate with each other to broaden the exposure of EU companies and to collaborate on conferences, exhibitions and promotions in the ASEAN region and Europe, bringing together business matches and export/distribution activities.
The EU-ASEAN Business Network will continue to work collaboratively to support EU businesses and SMEs interested in entering this market of 625 million people.
- Feature Article - EU-Indonesia Business Network - SEBSEAM Malaysia - European Association for
Business and Commerce - EU-Vietnam Business Network - EU-Philippines Business
Network - Eurocham Cambodia - European Chamber of
Commerce and Industry in Lao PDR
- EuroCham Myanmar
Prospect of Cold Chain Industry in Indonesia
European Smart Cities Exchange Forum
EABC The Trade Competition Act
EuroSphere
EU-PH Business Matching Program
EuroCham’s Advocacy program reached...
ASEAN-BIS
Energy Group presents working paper
Edition 8 / Octobre 2016
Union. The contents of this document are the sole responsibility of the EIBN SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
Edition 8 / Octobre 2016Edition 8 / October 2016
After that, we had another wave of industrialisation where we moved from labour intensive industries to capital intensive industries. And in capital intensive industries, we need even more FDI, because of the technology. With FDI coming in, our economy in the next decade grew as fast as 9 percent per year on average.
Some conservative people were afraid of foreign domination, or domination by the foreign investors, but experience has told us that this didn’t happen. The foreign investors come in with a sincere intention: they want to make money, they want to expand their production base and expand their market. You cannot blame them. But by having them expand their production base on our soil, we learned the technology and we learned the market network as well, and finally the Thai traders became Thai entrepreneurs who benefited from dealing with those foreign direct investors. So finally, they formed their own ventures, and up to now there are many more Thai companies than foreign investors in Thailand.
What kind of incentives did Thailand use to attract FDI to Thailand and prevent it going to other countries?
I am not ashamed to say that at that time we copied from all our friends, like Korea, Taiwan, Hong Kong and Singapore. They were the four tigers at that time, in the early 60s, and we became the fifth tiger later on.
We had the tax privilege law, where there was no income tax for FDI companies for five or eight years depending on the situation. We created good logistics by having good industrial estates, whereby the majority of industries were put on the estate and the logistics were very convenient for them.
Another thing that I would say attracted foreigners was Thai labour. No matter how much we complain about our education system, Thai labourers themselves are
very good at learning, they are very quick at working out the kind of technology and the kind of talent that the foreigners want transferred. Also, the discipline of Thai labour was admired by our foreign investors as well. They have good discipline, and they are willing to learn. Some companies, like Japanese companies, sent a
Thai team to train at their HQ in Japan for a number of months, and they came back perfect, so this is another factor.
What is your feeling on the role Myanmar currently plays, and will play in the
future, in ASEAN?
I haven’t yet seen the clear economic policy from this government yet but what’s left from the last government is quite encouraging, because compared with former governments, the most recent previous government introduced a sort of industrialisation. It was the first phase, the Thilawa real estate, even the new real estate being constructed in phase 1 of the Dawei deep sea port. The intention is there to industrialise the nation.
Of course they have yet to prepare other things, but the intention is there. I believe this government will continue this. What they need to complement this intention is a few things, like power supply. To industrialise a nation, you must have a stronger power supply which is also more stable than it is now. So power is the first key thing.
Secondly, Myanmar has to think about FDI, because Myanmar right now is similar to Thailand in the early 1960s. It has this shortage of private equity. And when you have this shortage, why not bring in private equity from overseas? And by bringing that, you bring in the technology and the market network. If Myanmar
can agree on this and set the right direction on this, I think many industries here will take off within not many years. Because Myanmar also has inexpensive and literate labour.
What industries do you think will see growth?
Mainly labour intensive industries, because labour intensive industries have been left out by countries like Thailand and many other countries, so there is room for Myanmar to take advantage of this. Also, in these industries, marketing is easier. I would not suggest Myanmar leapfrog into higher technologies, because if you leapfrog into higher technologies, you are fighting in the world market with more fierce competition. But in the labour intensive industries, competition is not that strong. So this could be the first phase.
The Association of Southeast Asian Nations
is a political and economic organisation of
ten countries of Southeast Asia, which was
formed on 8 August 1967 by Indonesia,
Malaysia, the Philippines, Singapore and
Thailand. Since then, membership has
expanded to include Brunei, Cambodia,
Laos, Myanmar (Burma) and Vietnam. Its
aims include accelerating economic growth,
social progress, socio-cultural evolution
among its members, protection of regional
peace and stability, and opportunities for
member countries to discuss diferences
peacefully. In 2015, the ASEAN Economic
Community integrated it into a single
market of 600 million consumers, with freer
movement of capital, goods and services. In
2014, its combined nominal GDP had grown
to more than US$2.57 trillion. If ASEAN were
a single entity, it would rank as the seventh
largest economy in the world, behind the
US, China, Japan, the United Kingdom,
Germany and France.
ABOUT ASEAN
“Some conservative people were afraid of foreign domination […], but
experience has told us that this didn’t happen.”
“Power supply is the first key thing.”
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
8 November 2016
The 6th EU-Indonesia Business Dialogue The 6th EU-Indonesia Business Dialogue (EIBD) will take place in Jakarta on November 8th, 2016. In light of the recent launch of CEPA negotiations between EU and Indonesia, the next EIBD’s central theme will be “CEPA: Enhancing the EU – Indonesia Partnership: A New Framework for Bilateral Trade and Investment”. The event will be held in parallel with SIAL InterFood 2016 where EIBN will be hosting a European Pavilion. Read more
ABOUT INDONESIA
Capital Jakarta
Area 1.904.569 km2
Distance East - West 5.120 km
Population 254 million
QUARTERLY UPDATE
Growth 5.18% (Q2-2016)
Infllation rate 3.21% (July)
Balance of Trade +598.3 m$ (July)
Budget Balance -253 y-o-y
Composition of Indonesian GDP (% of total share), 2015
MANUFACTURING
20%
TRADE, HOTEL &RESTAURANTS
16%
Source: Statistics Indonesia 2015
JakartaSurabaya
Medan
Balikpapan Jayapura
AUSTRALIA
PHILIPPINES
MALAYSIA
Indian Ocean
SINGAPORE
THAILAND
WATER SUPPLY & GAS
1%
MINING & QUARRYING
7%CONSTRUCTION
10%
AGRICULTURE, FORESTRY & FISHERIES
15%
TRANSPORT & COMMUNICATION
9%
SERVICES
14%FINANCE, REAL ESTATE &
BUSINESS SERVICES
8%
August 2016
Prospect of Cold Chain Industry in Indonesia As a part of EIBN’s focus on Cold Chain Industry, the EU-Indonesia Business Network organised an info session on “Prospect of Cold Chain Industry in Indonesia”, on Thursday, 4th of August 2016. The info session was supported by the Ministry of Marine Affairs and Fisheries and the Indonesia Cold Chain Association. The info session provided further knowledge of cold chain industry in Indonesia to the participants, as well as the prospects for EU investment ahead in this sector. Read more here
July 2016
New EIBN Sector Reports EIBN has released its Medical Devices, Bakery Ingredients, Packaging Machinery, Cold Storage and Chemical Industry reports. These studies provide an overview of each sector’s potential in Indonesia, highlights the opportunities for European companies, and discusses each industry’s characteristics. Know more about EIBN Sector Report here
June 2016
EIBN at IFAMA Matchmaking 2016EIBN was present at IFAMA Matchmaking 2016, taking place in Scandic Salen (Expo area), Denmark between 21-22 June. The EIBN team participated at the IFAMA Matchmaking 2016 in order to connect with the European SMEs interested in expanding their markets towards Indonesia’s food and agribusiness sectors. Read more here
August 18, 2016 ADBI : Five priority sector set in RI’s state budget drafts… read more August 9, 2016RI one of the strongest emerging markets… read more July 19, 2016EU and Indonesia officially start CEPA negotiations… read more
EIBN NEWS
Indonesia
For more news and information, check
www.eibn.organd contact us through
our
online messaging system
September-November
EIBN Trade Missions EIBN is organizing two pan-European Trade Missions to Indonesia this year, on Maritime and Food and Beverages. The missions are open to EU companies from all 28 EU Members States. Know more here
19-22 October
EIBN at Hospital Expo Hospital Expo 2016 is the largest hospital, medical, pharmaceutical, exhibition in the country. EIBN invites all related EU companies to be present and visit the Hospital Expo. Read more
UPCOMING EVENTS
www.eibn.org
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
October 2016
European Smart Cities Exchange Forum
Malaysia has the intention and full potential to develop itself as a Smart country. This is an opportunity to showcase your company’s innovation and capabilities in the field of Smart Cities to the Malaysian government and municipalities. Connect and contribute with Malaysian stakeholders
and explore the initiatives taken in the development of Malaysian Smart Cities.
Read more and register for the Forum here.
October 2016
EU-Trade Mission to MalaysiaEuropean companies specialising in applications and services in the field of Green Technologies & Smart Cities Solutions are urged to join this Trade Mission to Malaysia to:
• Identify their potential in Malaysia and ASEAN
• Exchange experiences with Malaysian public and private sector
• Initiate potential business relations
ABOUT MALAYSIA
Capital Kuala Lumpur
Area 329,847 km2
Distance East - West 450 km
Population 30.3 million
QUARTERLY UPDATE
GDP Growth 4.0%
Inflation rate 2.1%
Balance of Trade RM 32.9 /USD 8.03 billion
Budget Balance -3.1 % (2016)
SERVICES
54%
AGRICULTURE
7.8%
CONSTRUCTION
4.4%
MINING & QUARRYING
9%
MANUFACTURING
23.5%
Source: Bank Negara Malaysia
Composition of Malaysia Economy 2016(% of GDP per Sector | Second Q 2016)
George Town/Penang
INDONESIA
South China Ocean
KualaLumpur
Johor BahruSINGAPORE
THAILAND
INDONESIA
Kuching
Kota Kinabalu
Malaysia
Read more19-20 October
Symposium & Business Matching SessionThe symposium and business matching brings together Malaysian bakery, confectionary and, snacks’ industry players to gain valuable insight from respected European experts as well as exploring opportunities and potential of cooperation with our European counterparts.
SEATS ARE LIMITED. Click here to register.
Technical Seminar on Marine Renewable Energy (MRE) in Malaysia
Collaborate with Malaysian stakeholders & regulators to explore market possibilities, available technologies, potential MRE sources and initiatives in the Marine Renewable Energy sector. Read more
SEBSEAM-M NEWS
ASEAN Solutions for Investments, Service and Trade (ASSIST). Read about it here.
Copyright in Malaysia. Get the news here.
IPR for the Chemical industry in Malaysia. Read more here.
UPCOMING EVENTS
November
A must attend event for key food industry leaders & groups in EU and ASEAN. The Forum aims to promote the standardizing of ASEAN food safety standards, removing trade barriers and facilitating fair and open dialogues between governments and thought leaders. Read more
www.eumcci.com
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
25 July 2016
EABC The Trade Competition Act
EABC hosted a discussion seminar on a new draft of the Trade Competition Act at the EABC office. The seminar highlighted changes to the Act and best practices from ASEAN. The speakers were Ms. Wipanan Prasompluem from Allen & Overy and Dr. Robert Ian McEwin, Australian National University.
To download the presentation, please click here
August 11-14, 2016
Intellectual Property Fair 2016EABC participated with the European pavilion at Thailand Intellectual Property Fair. This event provided a value and promoted business opportunities for European business, Showing innovations at the exhibition under the theme “Innovation for Life and Living” at Queen Sirikit National Convention Center (QSNCC)For more information please click here
June 15, 2016
Courtesy Meeting with The Minister ofCommerceEABC President paid a courtesy visit to the Minister of Commerce, H.E. Mrs. Apiradi Tantraporn. The EABC President expressed gratitude towards the Minister for her efforts to improve ease of doing business in Thailand and presented the 2016 European Business Position Paper.Read more here
ABOUT THAILAND
Capital Bangkok
Area 513,000 km2
Distance East - West 780 km
Population 68.8 million
QUARTERLY UPDATE
Growth 3% (2016)
Infllation rate -0.3% (2016)
Balance of Trade 1970 Million USD (2016)
Unemployment rate 0.97% (2016)
Composition of Thai Economy 2015(% of GDP per Sector)
TRANSPORT, STORAGE & COMMUNICATION
7%
WHOLESALE & RETAIL TRADE
15% AGRICULTURE
9%
FINANCIAL INTERMEDIATION
7%
MANUFACTURING
27%OTHER SERVICES
35%Source: Bank of Thailand
Phuket
Pattaya
Bangkok
Chiang Mai
Korat
Gulf of Thailand
Andaman Sea
MYANMAR
CAMBODIA
VIETNAM
CHINA
South China Sea
Thailand
For more news and information, check
www.eabc-thailand.euor contact us at
EABC Speech Dinner with the Governor of the Bank of ThailandOctober 17, 2016, Bangkok
European Association for Business and Commerce (EABC) is delighted of having the Governor of the Bank of Thailand Dr. Veerathai santiprabhopb to deliver a dinner speech at Sofitel Bangkok Sukhumvit. EABC would like to invite you to join a Speech Dinner Event with us. For more information about Speech Dinner please Click here
ASEAN Solution for Investment, Services and Trade (ASSIST) SeminarOctober 21, 2016
EABC is organizing on ASEAN Solutions for Investments, services and Trade(ASSIST)seminar with Mr. Paolo R. Vergano. Please come and join us at this exclusive seminar …
more information HERE
Eastern Seaboard Networking October 21, 2016
Please join us for The Eastern Seaboard Networking event hosted by GTCC, AMCHAM, AustCham, BCCT, NZTCC and SATCC. For more information please contact: [email protected] or +66 2 670 0624 Ext. 102
EABC NEWS
July 18, 2016Thailand keen on tariff- free deal with UK after Brexit vote (Bangkok Post) read moreAugust 7, 2016‘Yes’ camp overwhelms charter referendum (Bangkok Post) read moreAugust 24, 2016Institution urged to plug loopholes in Identification (Bangkok Post) read more
www.eabc-thailand.eu
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
June 2017
EuroSphere
EuroSphere is an innovative exhibition dedicated to bring the European Art of Living to the Vietnamese market. The exhibition host s a wide range of sectors in:
- Gourmet food, Wind & Spirits
- Fashion, Fashion Accessories, Jewelry, Horology
- Perfumery, Cosmetics,
- Furniture, Interior Design
- Automotive
which present the elegance, the sophistication and the harmonious living of European culture. The concept of EuroSphere creates a lively flow of interactions among the exhibition companies and visitors.
Website: www.eurosphere.com.vn
September 2016
Dialogue on Climate Change gathered UN Envoy and the Vietnamese GovernmentOn the 5th of September 2016, the European Chamber of Commerce in Vietnam (EuroCham) – in collaboration with the EU-Vietnam Business Network (EVBN) hosted the Global Leaders Dialogue Climate Change and Access to Clean Energy in Vietnam. Read more
September 2016
Vietnam New Tax Law to Harmonise with Free Trade AgreementsOn 1 September 2016, Vietnam’s new Law on Import and Export Tariffs (“New Tax Law”) entered into force. The New Tax Law shows efforts of the Vietnamese law makers towards harmonising the domestic legal framework. Read more here
ABOUT VIETNAM
Capital Hanoi
Largest city Ho Chi Minh City
Area 332.210 km2
Population 93 million
QUARTERLY UPDATE
GDP Growth 6.8% (2015)
Inflation rate 0.63% (2015)
FDI $ 7,199 mio USD (2015)
Trade volume $ 264 billion (2013)
Composition of Vietnam Economy 2014(% of GDP per Sector)
Hanoi
Haiphong
Nha Trang
Ho Chi Minh City
Can Tho
South China Sea
CHINA
LAOS
CAMBODIA
THAILAND
Andaman Sea
UTILITIES
8%TRANSPORT
3%
SERVICES
39%
PUBLIC ADMINISTRATION
5%MINING
9%
MANUFACTURING
15%
CONSTRUCTION
5%
AGRICULTURE
16%
Gulf of Thailand
Gulf of Thailand
Vietnam
UNIQUE OPPORTUNITY TO JOIN THE EUROPEAN PAVILIONNovember 2016
After the great success of the European Pavilion in November 2015, the EU-Vietnam Business Network (EVBN) is proud to continue organizing the European Pavilion in November 2016 at the Vietwater and RE&EE exhibitions in Ho Chi Minh City, Vietnam. This year, European companies who already settled in the Vietnamese market can join the European Pavilion and be a part of the Delegation with special rates. Read more here
Agrofood Trade MissionFebruary 28 – March 3 2017
Sectors: Food & Beverage, Equipment for HoReCa, Food industry machinery
25 European companies will be selected
Read more
EVBN NEWS
September 3, 2016‘Green’ products to be exempt from export tariffRead moreSeptember 3, 2016Investors remain optimistic about Vietnam’s economy Read moreSeptember 9, 2016Vietnam looks forward to EVFTA benefits Read more
Green Technologies Trade MissionNovember 8 – 11, 2016
EUROPEAN PAVILION ON THE RENEWABLE ENERGY AND ENERGY EFFICIENCY
Sectors: Energy Efficiency, Water Management, Renewable Energies, Waste Management. Read more
www.evbn.org
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
EU-PH Business Matching Program EU Philippines Business Network (EPBN) and The European Chamber of Commerce of the Philippines (ECCP) are organizing the EU-PH BUSINESS MATCHING PROGRAM to promote the creation of more business partnerships between enterprises in Europe and in the Philippines. Special focus is being given to several priority sectors which show high potential for establishing business partnerships between Europe and the Philippines. Read More.
EPBN webinar on Energy Last June 22, 2016, EU-Philippines Business Network (EPBN) conducted a webinar on energy industry in the Philippines. Centered on opportunities available in the said sector, the webinar starts with a market overview and its growth over the years, followed by insights on how to build an renewable energy related business Philippines as shared by two entrepreneurs. Read More.
ABOUT PHILIPPINES
Capital Manila
Area 343,448 km2
Islands 7,107
Population 100 million
QUARTERLY UPDATE
GDP Growth 5.2%
Inflation rate 1.7% (Q2 2015)
Balance of Trade 953.89 million USD (August)
Balance of Payments -24 million USD (Jun 2014)
Composition of Philippine Economy Q1 2015(% of GDP per Sector)
Manila
Baguio
Cebu
Davao
Philippine Sea
INDONESIA
MALAYSIA
South China Sea
CHINA
VIETNAM
INDUSTRY
31%
AGRICULTURES
9%
SERVICES
60%
Philippines
EU-PHILIPPINES BUSINESS SUMMITOctober 4, 2016
2016 marks one of the most exciting years yet for EU business in the Philippines – the beginning of negotiations for an EU-Philippine Free Trade Agreement, a new Administration and Congress, steady economic growth prospects and the run-up to the Philippines’ ASEAN chairmanship in 2017, make it a year full of opportunities. With this in mind, the EU-Philippines Business Network (EPBN) has organized the EU-Philippines Business Summit 2016 with the theme “EU-Philippine Economic Ties: A New Chapter Unfolds” on October 4 2016, at the Makati Shangri-La, Manila. This trade forum was attended by over 300 delegates, with key representatives from both the public sector. Read More
ENERGY SMART PHILIPPINES
EPBN and ECCP invite EU companies to participate in Energy Smart Philippines 2016, the country’s biggest tradeshow on clean energy & energy efficiency. Explore business opportunities in the energy sector during the four day business mission, subsidized by EPBN, which will include sector expert presentations and tailored B2B meetings. Read More
MISSION TO THE EU-PHILIPPINE BUSINESS SUMMIT
Join the EPBN business mission to the Philippines and attend the EU-Philippines Business Summit 2016, this year’s most important business forum in the Philippines. The two-day mission, is co-financed by the EPBN, is available to first thirty EU companies to register. Read More
EPBN NEWS
Aug 18, 2016PH GDP grows 7% Q2 2016
Read moreAug 11, 2016Philippines maintains monetary policy; cuts inflation forecastsRead moreAug 03, 2016PH tops global consumer confidence surveyRead more
EVENTS
www.epbn.ph
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
September 21
First-ever EuroCham Cambodia Tax Forum 2016 Over 400 people attended EuroCham Cambodia’s most successful event to date: European Cambodia Tax Forum 2016. The inaugural Tax Forum was opened by Cambodia’s Director General of Taxation as well as the EU Ambassador to Cambodia, and was followed by Cambodia’s brightest tax professionals sharing expertise on complex subjects like Cambodia’s transition to a new tax regime, VAT, audits and disputes. Experts from DFDL, Deloitte, Ernst & Young and more helped attendees, particularly SMEs, understand how to be compliant in Cambodia’s changing tax system.Read more
August 9
Major milestone for EuroCham’s advocacy program Meeting with the Senior Minister of Economy and Finance and General Department of TaxEuroCham Cambodia leadership met with the Senior Minister for Economy and Finance and officials from the General Department of Customs and Excise and the General Department of Taxation to strategize future collaboration with EuroCham. The Senior Minister stressed his appreciation of the policies proposed in EuroCham’s White Book 2016, and as a result of the meeting encouraged EuroCham to work directly with the Ministry’s subdivisions in solving issues affecting the private sector.
August 29
EuroCham Cambodia launches new edition of Membership Directory EuroCham launched the 2016-2017 edition of its Membership Directory at a special Networking event attended by a record 400 participants. Each EuroCham member has a dedicated full page in the directory, and so far more than half of the 2,000 copies have been given away to members, partners abroad, institutional stakeholders, and the business community in Cambodia.Read more
ABOUT CAMBODIA
Capital Phnom Penh
Area 181.035 km2
Major Cities Siem Reap, Sihanoukville, Battambang
Population 15.7 million
QUARTERLY UPDATE
GDP Growth 7% (2014)
Inflation rate 3.9% (2014)
Balance of Trade -3.01 billion USD (2014)
FDI 1.34 bn (current USD 2014)
Composition of Cambodian Economy 2014(% of GDP per Sector)
SERVICES
43%
AGRICULTURE
30%
INDUSTRY
27%
CHINA
THAILAND
South China Sea
Andaman Sea
VIETNAM
LAOS
Gulf of Thailand
Battambang
SihanoukvillePhnom Penh
Siem ReapPoi Pet
Source: World Bank
Cambodia
EuroCham conducts groundbreaking studyOver the coming months EuroCham Cambodia and a research partner will be conducting the first ever study into the European community in Cambodia. The objective is to obtain complete, reliable data about the European community and their contributions to Cambodia’s economic development. The data will help businesses make better informed decisions as well as bring a greater awareness of the European presence in Cambodia to public policymakers. Read More
EuroCham goes to EuropeOctober, 2016
EuroCham’s Outreach division will spend October in Germany, Italy and France stirring up trade and investment interest in Cambodia:
•Conference and panel discussion at Hamburg Chamber of Commerce to generate investment interest in Cambodia and Laos, co-organised with EuroCham Laos and OAV (German Asia-Pacific Business-Association)
• Two days at Global Connect, major exports and internationalisation forum in Stuttgart (Germany)
• “Trading with Cambodia” conference in Treviso (Italy) connecting Italian companies and distributors in Cambodia
•Conferences and B2B meetings in France (Paris, Strasbourg, Grenoble and Marseille)
•Attending SIAL in Paris, the world’s largest food innovation exhibitionRead More
EUROCHAM NEWS
Sep 12, 2016Direct flight service from Tokyo to Phnom PenhRead moreSept 09, 2016Cambuild’16: Growth of property sector in CambodiaRead moreSept 07, 2016EuroCham Cambodia is top contributor to EU-ASEAN Business Sentiment SurveyRead more
www.eurocham-cambodia.org
For more news and information, check
www.eurocham-cambodia.com
or contact us at [email protected]
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
September 5-7, 2016
ASEAN-BIS Japanese Prime Minister Shinzo Abe delivers his keynote address at the Summit
CONSTRUCTION
9%
ABOUT LAOS
Capital Vientiane
Area 236,800 km2
Religion Buddhism
Population 7.163 million (2016)
QUARTERLY UPDATE
GDP 12.5 billion USD (2015)
GDP Growth 7.5% (2015)
Imports 49% of GDP (2014)
FDI net inflow 427 million USD (2013)
Composition of Laos Economy 2012(% of GDP per Sector)
ELECTRICITY, GAS & WATER
18%
SERVICES
41%
AGRICULTURE& FORESTRY
15% MINING & QUARRYING
13%
MANUFACTURING
9%
Source: The World Bank
CHINA
THAILAND
Andaman Sea
CAMBODIA
South China SeaSavannakhet
Vientiane
VIETNAM
Gulf of Thailand
Luang Prabang Xam Nua
Pakxe
Laos
ECCIL NEWS
ASEAN Business & Investment Summit5-7 September
The single most significant event of the year in Laos brought together many Heads of State from around the world’.
ASEAN Business Circle with Investment Conference on LaosOctober 13
in Vienna Austria
HR Training Recruitment and Selection ProcessSeptember 22&23
at ECCIL, Vientiane
Business Delegation to France, visit of SIAL, Investment conference in Paris and LyonOctober 16-22
Geographical Indications (GI) Week in the Lao PDROctober 24-28
Landmark Hotel, Vientiane
May, 2016
ASEAN Business & Investment Summit The most important business event of the year in Laos took place at the brand new Muong Thanh Luxury hotel to a large group of delegates from all over the region. Welcoming Heads of State as well as leading world figures in finance, logistics and trade, the ASEAN Business Advisory Council organised a lively and informative series of discussions with Q&A sessions after each debate bringing vital new information and advice on many subjects. Read more
2016
2016 EU-ASEAN Business Sentiment SurveyThe latest release of information on business sentiment within ASEAN was released by the EU-ASEAN Business Council on 1st September. Responses indicated overwhelmingly that European business in ASEAN is on the rise with additional investment and expansion planned. Strong endorsement of a region to region Free Trade Agreement was also given. Read more
Seminar on Trade within AECImplications of ATIGA (ASEAN Trade in Goods Agreement) on cross-border tradeRead more
October 12-16
Lao Techmart & World Science Financial Forum at Lao ITECRead more
www.eccil.org
Edition 8 / October 2016 E - N E W S L E T T E R
This document has been produced with the financial assistance of the European Union. The contents of this document are the sole responsibility of the EIBN, SEBSEAM-M, EABC, EVBN, EPBN, EuroCham Cambodia and ECCIL, and can under no circumstances be regarded as
reflecting the position of the European Union.
QUARTERLY NEWS HIGHLIGHTS
September 12
Energy Group presents working paper to Yangon Chief MinisterEuroCham’s Energy Advocacy Group met with Yangon Chief Minister U Phyo Min Thein and other ministers of Yangon Region to present its first working paper.
The Energy Advocacy Group was formed June 2016. It is the first Advocacy Group created by EuroCham Myanmar and is joined by major European companies in the Energy sector. Follow-up meetings will be held in order to foster the collaboration between advocacy group delegates from European companies and members of the Yangon Energy Development Committee.
Further advocacy groups on Construction & Infrastructure and Logistics have been established - Legal & Tax, Agrifood, Health, CSR and others are being formed.
To learn more about EuroCham’s advocacy work, please visit our website.
September 19
Advocating for responsible business in MyanmarEuroCham participated as a Forum Partner in the 15th Asian Forum on Corporate Social Responsibility. EuroCham Executive Director Filip Lauwerysen held a joint session on Public Sector Innovation. In his presentation he shared the European experience in public sector innovation and the potential of public private partnerships... read more
ABOUT MYANMAR
Capital Naypyidaw
Largest City Yangon (Rangoon)
2Religion 676,578 km
Population 53 million
QUARTERLY UPDATE
GDP Growth 8.5% (2014-15)
Inflation Rate 8.5% (2016)
FDI USD 8.1bn (2015)
Balance of Trade EUR 103m (2014)
Composition of Myanmar Economy 2014(% of GDP per Sector)
Source: World Bank, ADB, European Commission
SERVICES
38%
AGRICULTURE
28%
INDUSTRY
34%
Myanmar
EUROCHAM MYANMAR NEWS
Ministry of Industry interested in Joint Venturesread more
YESC targets 1400 megawatts for Yangonread more
Ministry of Commerce Changes Stance on Five Export Itemsread more
October/November
Publication Launch, Networking and Breakfast BriefingsEuroCham Myanmar is planning a to launch its first Business Guide and 5 sectoral papers shortly to provide European SMEs with up to date and sector-specific information on the business climate in Myanmar, followed by a networking reception. Moreover we will hold Breakfast Briefings on topics such as Myanmar from a geopolitical and historical perspective and the potential effects of a EU investment protection agreement. Please sign up for our newsletter or see our upcoming events for updates.
September 14
Promoting Myanmar to Hungarian EntrepreneursEuroCham promoted Myanmar as the place for doing business at an event organized by the Hungarian Chamber of Commerce and Industry in Budapest. Hungarian entrepreneurs and government officials including Deputy Secretary of State Szilvester Bus met to discuss business opportunities in the ASEAN countries... read more
August 29
Training on Intellectual PropertyEuroCham helps European companies to protect their IP Rights against the risks of IP theft in Myanmar and the South-East Asia region. To kickstart our cooperation with the IPR SME helpdesk we organized a joint Breakfast Briefing... read more
For more news and information, check
www.eurocham-myanmar.org
orcontact us at
www.eurocham-myanmar.org