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Friday Asia Update: Top Five Stories for the Week of January 30, 2015

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Friday Asia Update: Top Five Stories for the Week of January 30, 2015

Thailand’s 2010 GDP growth is projected at 3.5%, driven by domestic demand. In the context of weaker global demand in 2010, exports will grow modestly, but the restocking cycle and slow rebound in investment also imply a pick-up in imports, which results in muted net external demand. Public and private investment add 0.8% point to the growth rate, while normal stocking patterns provide a boost to growth of 1.5 % points . Thailand’s Household consumption picks up modestly, adding 0.8 percentage point to the growth rate, whereas public consumption decelerates from 2009 levels but still adds 0.4 percentage point.

FDI policies

The country’s well-defined investment policies focus on liberalization and encourage free trade. Foreign investments, especially those that contribute to the development of skills, technology and innovation are actively promoted by the government. Thailand consistently ranks among the most attractive investment locations in international surveys, and the World Bank’s 2010 Ease of Doing Business report places Thailand as the 12th easiest country in the world in which to do business.

Government support and incentives are provided for foreign investors in Thailand

Numerous government agencies support investors. Through the Board of Investment, the government offers a range of tax incentives, support services and import duty exemptions or reductions to an extensive list of promoted activities.
Companies receiving investment promotion privileges from the Board of Investment are not subject to foreign equity restrictions in the manufacturing sector, and there are no local content requirements nor export requirements, as Thailand’s investment regime is in total compliance with WTO regulations.
The Board of Investment also coordinates the activity of the One-Stop Service Center for Visas and Work Permits, which enables foreign staff of BOI-promoted companies to obtain work permits and long-term visas within three hours or less.
The BOI also administers the One Start One Stop Investment Center, which opened in November 2009 to facilitate a full range of services and streamline investment procedures by bringing representatives from more than 20 government agencies under one roof.
In addition to the activities of the BOI, other government organizations, such as the Department of Export Promotion and international chambers of commerce, provide invaluable support and a host of other important services.

The words of the Thai Royal Anthem, performed at most official ceremonies and before the start of every movie, may strike a Western ear as somewhat archaic.

After all, the system of absolute monarchy ended in 1932, following a revolution staged by a small group of disaffected civil servants and military men. Since then, Thai kings have ruled under a constitution; their powers theoretically no greater than those of European monarchs. Yet, since he was officially crowned in 1946, His Majesty King Bhumibol Adulyadej has assumed the role of constitutional monarch and has worked tirelessly on behalf of his people, gaining a measure of personal devotion that is probably more intense than that felt for any of his all-powerful ancestors. It has been said that Their Majesties King Bhumibol and Queen Sirikit are the hardest working royal couple in the world with a work load once estimated to be equal to at least one function every day of the year. Of the several institutions that form the foundation of modern Thai life, the one His Majesty represents is not only the most visible but also the most revered.

Business

Business Update: Southern Sun Reports Earnings Growth; China Stimulates Property Market – News24

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Southern Sun reports increased earnings, attributed to growth in the hospitality sector, while China’s property market receives a boost, reflecting economic recovery and renewed investor confidence.


Southern Sun Earnings Surge

Southern Sun has reported a significant increase in its earnings, showcasing solid financial performance amid evolving market conditions. This growth highlights the company’s resilience and adaptability to changing consumer demands, positioning it well for future opportunities in the hospitality industry.

China’s Property Market Recovery

In a bid to rejuvenate its economy, China has introduced measures to boost its property market. These initiatives aim to stabilize real estate prices and encourage investment, which is crucial for maintaining economic momentum. The government’s commitment to supporting the sector reflects its understanding of the industry’s importance in overall economic health.

Broader Economic Implications

The rise in Southern Sun’s earnings and China’s proactive approach to revitalizing its property market indicate broader economic trends. Investors and stakeholders are keenly observing these developments, as they may signal recovery and growth opportunities in both the hospitality and real estate sectors. The collaboration between local businesses and governmental actions will be pivotal in shaping future economic landscapes.

Source : Business brief | Southern Sun sees earnings rise; China boosts its property market – News24

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China

Vietnam’s Approach to China: A Balance of Cooperation and Struggle

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Vietnam’s diplomatic strategy seeks a balance of cooperation and struggle with China, focusing on strengthening ties while resisting encroachments in the South China Sea through military enhancements and regional partnerships.


Vietnam’s Diplomatic Strategy

Vietnam’s diplomatic approach seeks to maintain a delicate balance between cooperation and struggle with China. While concerned about China’s growing influence, particularly in the South China Sea, Hanoi focuses on strengthening its economic and political ties. This effort involves military enhancements, fostering relationships with regional powers, and engaging in frequent political dialogues. By skillfully navigating relations with major powers, Vietnam aims to protect its sovereignty and foster stability amidst evolving geopolitical dynamics.

Recent Developments and Implications

Hanoi’s diplomatic maneuvering has drawn attention, particularly regarding key visits like Vietnamese Communist Party General Secretary To Lam’s August 2024 trip to China. Although there are apprehensions about a potential shift in Vietnam’s alignment due to To Lam’s background in public security and his anti-corruption initiatives, it is premature to predict any significant changes in policy. Vietnam’s leaders must continuously seek a balance between peaceful coexistence with China and safeguarding national sovereignty.

Economic Interdependence and Military Modernization

Vietnam’s strategy involves fostering economic interdependence with China while simultaneously resisting encroachments. This paradigm of “cooperation and struggle” enables Hanoi to cultivate beneficial ties in economic, political, and security domains. By leveraging its geographical advantage and connections, Vietnam enhances its economic ties while countering threats through military modernization and cooperation with regional partners. This nuanced approach allows Vietnam to welcome trade, particularly amidst shifting dynamics from the US-China trade war, ensuring continued foreign direct investment and growth in key sectors.

Source : Cooperation and struggle define Vietnam’s approach to China

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2025 Schedule of Public Holidays in China

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China’s 2025 public holiday schedule increases holidays by two days, with an 8-day Spring Festival and a 5-day Labor Day. Adjustments address public frustration, though long work periods persist. Notably, weekends are often designated as workdays to balance extended breaks.


China has released its 2025 Public Holiday schedule. Compared to 2024, the number of public holidays for all citizens has increased by two days, specifically for Lunar New Year’s Eve and May 2nd.

The announcement also clarifies the adjusted holiday arrangements, stating that the continuous work period before and after statutory holidays generally should not exceed six days, except for certain special circumstances.

According to the notice, in 2025, the Spring Festival will have an 8-day holiday, the Labor Day holiday will last 5 days, and the National Day and Mid-Autumn Festival will jointly have 8 days off.

China has long been considered one of the least generous countries in terms of public holidays. Additionally, people have expressed frustration over the complicated adjustments to holiday and working days that are meant to create longer breaks. The newly introduced changes are expected to address these concerns to some extent.

Beyond the newly introduced changes, China’s 2025 public holiday schedule still features two major week-long holidays: Spring Festival (also known as Chinese New Year) and the National Day holiday (often called ‘Golden Week’).

In 2025, the Spring Festival falls between January 28 and February 4, and the National Day holiday, together with the Mid-Autumn Festival, fall between October 1 and 8.

Foreign human resource managers should note that Saturdays and Sundays are often marked as additional official workdays in China to compensate for long holiday breaks. For example, January 26 (Sunday) and February 8 (Saturday) are designated as workdays to partially offset the eight days off for the Spring Festival.


This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in ChinaHong KongVietnamSingapore, and India . Readers may write to info@dezshira.com for more support.

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