| | Weekly business and foreign investment news roundup in Asia by Asia Briefing and Dezan Shira & Associates. |
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| | | | China’s outbound investment (ODI) is surging from already-record levels. In 2023, China’s ODI rose by 8.7 percent to reach US$177.3 billion. In the first eight months of 2024, investment from China into other countries rose by 12.5 percent year-on-year in yuan terms. | | | | | The 2024 US presidential election, featuring Kamala Harris and Donald Trump as candidates, is poised to impact India’s economy, trade relations, defense cooperation, and climate initiatives, depending on the outcome. | | | | | Vietnam’s school education sector offers strong potential for foreign investment, driven by rising demand, state policies, and tax incentives. However, investors must carefully navigate regulatory requirements and conduct thorough market research. | | | | | Key changes include the introduction of a legal opinion requirement, the need for independent assessments by external auditors, and enhanced expectations for compliance structures, particularly for entities offering digital payment token (DPT) services. | | | | | The Philippines has imposed a 12 percent Value Added Tax (VAT) on non-resident B2C digital services to create a more competitive environment for local providers, with exemptions for educational services and financial services offered by banks and non-banks. This move aligns with regional efforts to increase tax revenue from foreign digital service providers. | | | | | The UAE has made substantial changes to its Value Added Tax (VAT) Executive Regulations, effective from November 15, 2024, carrying implications for businesses across various sectors, especially trade and financial services. |
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COMPLIMENTARY BUSINESS RESOURCES: |  | | | This issue of ASEAN Briefing offers an overview of Indonesia's labor market, covering local employment laws, key trends, and emerging sectors, providing insights into workforce dynamics and opportunities in the country. | | | | | India's service sector drives growth and attracts FDI with its market potential, skilled labor, and policies. This issue explores performance, key FDI segments, and strategies for foreign firms. | | | | | As Vietnam boosts its global trade role, this Vietnam Briefing edition covers key import-export regulations, customs procedures, on-spot export regimes, and VAT rules, along with insights on documentation, processing times, and VAT refunds. |
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UPCOMING EVENTS FOR ASIA: | | | Webinar | Wednesday, October 23, 2024 | 4:00 PM China / 3:00 PM Vietnam / 10:00 AM CET | | | | | Webinar | Thursday, October 24, 2024 | 2:30 PM India / 4:00 PM Vietnam / 5:00 PM China | | | | | Hybrid | Friday, October 25, 2024 | 16:00-18:00 China time / 9:00-11:00 CET time |
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