Sunday, July 17, 2016

ASEAN - ASEAN officials point out investment challenges

TAIPEI, Taiwan -- At the "Taiwan-ASEAN Strategic Investment Partnership Forum" , six representatives from Southeast Asian countries pointed out the challenges that Taiwanese businessmen may confront when investing in the region.

Representatives emphasized that investors and businessmen developing careers in these countries should not only abide by local laws, but should also understand the differences between each country.

Delegates from Indonesia, the Philippines, Malaysia and Thailand all indicated that their countries lack public infrastructure, and that local governments are attempting to expand on existing infrastructure, a process that foreign investors can contribute to.

In addition, according to panelists, laws in Indonesia and the Philippines are not complete. "We are short of laws, and some local laws even contradict the central government's laws. We are working on this issue." Indonesia's Investment Coordinating Board (BKPM) deputy chairman Himawan Hariyoga said.

Human resource issues are common in Southeastern Asian countries, especially in Indonesia, Malaysia and Thailand. Indonesia is attempting to boost worker productivity and skills, while the other two countries are confronting aging populations and labor shortages, representatives from these countries said.

A representative from Vietnam called on foreign businessmen to comply with local laws and said it is necessary to pay attention to environmental protection.

According to the results of the Vietnamese government's investigation announced in June, Formosa Ha Tinh Steel Corp., an offshoot of Formosa Plastics Group (台塑集團), emitted toxic wastewater that caused tons of fish to die in early April.

Although this case will not determine Taiwan's investment in Vietnam overall, investors should abide by rules and value environmental protection, said Do Nhat-hoang, director general of Vietnam's Foreign Investment Agency under the Ministry of Planning and Investment, said

"We think investors from Taiwan are important to us, and we will help them develop their business in Vietnam in the future." Do added.

Renita Li

You can find older posts regarding ASEAN politics and economics news at SBC blog, and older posts regarding health and healthcare at IIMS blog. I thank you.

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