01Indonesia plans to launch a "golden visa"

Indonesia is planning to launch a "gold visa". The Minister of Tourism and Creative Economy of the country stated that foreigners who obtain an Indonesian gold visa can obtain up to 10 years of residency. The government hopes to attract more talents in the fields of digitalization, health, scientific research, and technology through this plan. The specific details of this policy are currently awaiting discussion between the Indonesian Ministry of Law and the Immigration Department of the Ministry of Human Rights.

As early asIn October 2022, the Government of Indonesia launched the "Second Home" visa program to attract foreign investment. At the end of 2022, Indonesia'sForeign direct investment reached 45.6 billion US dollars, an increase of 44.2% over the same period in 2021, which is also the highest level in History of Indonesia's history. The golden visa refers to foreign citizens obtaining residency and citizenship rights in a country through investment or payment of certain fees. It is an internationally recognized policy to attract foreign investment. The Indonesian Immigration Bureau stated that this policy will be established as a specific legal provision, and Indonesia will achieve economic results similar to Singapore and Canada.

01Vietnam ranks 16th among the 21 wealthiest countries in Asia

according toFinancial websiteStatistics of Insider MonkeyVietnam is the wealthiest country in AsiaRanked 16th out of 21 countries.

According to a survey, Insider Monkey is a financial website that focuses on financial markets, hedge funds, and insider trading. They analyzed Credit Suisse's 2022 Global Wealth Data Handbook, summarized the 21 wealthiest countries in Asia, and ranked them accordingly. They stated that although Vietnam is a low to middle-income economy, it is also one of the fastest growing economies in the 21st century. Vietnam is a member of multiple international and intergovernmental organizations, such as ASEAN, APEC, CPTPP, Non-Aligned Movement, OIF, and WTO.

In 2021, Vietnam's wealth reached 985 billion yuandollarBecoming one of the wealthiest countries in Asia. In addition, China ranks first with a total wealth of $85107 trillion, followed by Japan and India, with total wealth of $25692 trillion and $14225 trillion, respectively.

02Investment in the Economy of the Philippines increased by 153% in five months

The investment of PEZA in the Economy of the Philippines Economic Zone increased by 153% in the first five months of this year, reaching 48 billion pesos, or about 860 million dollars. The person in charge of PEZA stated that the institution is close to achieving its 10% growth target for 2023, especially the 20 projects registered in May, which brought about 14.93 billion pesos of investment to the Philippines, accounting for approximately 31% of the total. Out of these 20 projects, 11 are distributed in the manufacturing industry, 7 are distributed in the IT industry, and are mainly distributed in cities such as Makati, Pasig, and Tajig.

It is understood that,PEZA has 3431 registered enterprises, accounting for 82% of the total annual merchandise exports and 60% of the total service exports in the Philippines. The person in charge of the region stated that the investment approval of PEZA continued to rise in the first half of this year, mainly due to the introduction of relevant preferential measures and active promotion by the government. In the future, it will continue to cooperate with government agencies and various industry associations to solve the pain points that hinder investors from entering the Philippines.