2023-02-13

China-ASEAN

Cooperation: The digital economy has become a new link between China and ASEAN cooperation

According to the website of Hong Kong's Asia Times, the digital economy has become a new link between China and ASEAN cooperation.

According to the report, the 7 million people in Southeast Asia are on the cusp of economic transformation, comparable to the rise of the "Asian tigers" in the eighties and nineties of the last century.

In 2022, China's exports to Southeast Asia increased by about 20%. China's leadership in digital and physical infrastructure has led to a natural economic partnership with Southeast Asia. China's digital infrastructure is a key factor in the thriving economic relationship between China and Southeast Asia.

In 2020, China's exports to ASEAN members were almost double those of developed Asian regions (Japan, South Korea, etc.).

China's leading position in digital infrastructure is reportedly a decisive advantage for China's trade with ASEAN. China's strategic focus is to create future markets for its products by providing broadband, cloud computing and training to Southeast Asian countries.

ASEAN has huge room for growth as physical infrastructure and digital connectivity enable the development of new industries. Southeast Asia's 7 million people will have an increased import capacity. China's extraordinary growth in trade with the region will continue in the coming years, and the emergence of a new "Asian tiger" may be the most important macroeconomic event of the next 20 years.

Singapore

Economy: Singapore and Vietnam strengthen cooperation in digital and green economy

Recently, Singapore and Vietnam signed four memorandums of understanding to strengthen bilateral cooperation in various fields, covering digital and green economy, trade and maritime areas. Last year, Singapore signed a number of memorandums of understanding to promote cooperation in the digital economy, carbon credits, energy and innovation, and the latest memorandum of understanding will integrate these cooperation into the same framework, covering energy connectivity, sustainable development, infrastructure, digital and innovation, as well as education, finance, information technology and telecommunications, tourism and other fields. To deepen agricultural trade cooperation, the MoU will explore business matching between businessmen from the two countries and facilitate investment by Singapore companies in Vietnam's agriculture and logistics sectors. In energy and industry, renewable energy, electricity, liquefied natural gas and low-carbon projects will be developed.

Lao

Event: Laos will assume the ASEAN Presidency and hold the ASEAN Summit in 2024

Laos will assume the rotating chairmanship of ASEAN in 2024. Preparations are underway to host the next ASEAN Summit in 2024. Lao government authorities have appointed about 14 subcommittees to oversee preparations for the summit. Laos chaired ASEAN in 2004-2005 and 2016 and will hold the chairmanship of ASEAN for the third time from January 2024 to December 1, 1.

Thailand

Culture: Thailand has increased its incentives to attract foreign films to Thailand

Ms. Tresuli, deputy spokesperson of the Thai Prime Minister's Office, said that in order to attract foreign film crews to shoot in Thailand, the Thai cabinet recently approved the adjustment of relevant preferential measures, increasing the cashback limit from the original 20% to 30%, and the refund limit for each film from the original 7500 million baht (about 1500 million yuan) to 1 million baht. Under the new incentives, cashback has been adjusted from 5%-15% to 20%-20%. The minimum rebate is 30%, and the maximum rebate is 20% when the investment is not less than 1 million baht (about 2000 million yuan) in Thailand. The Thai government hopes that the adjustment of relevant measures will also promote domestic economic recovery, such as distributing income to second-tier cities, creating jobs, and boosting domestic consumption.