Upload
truongnguyet
View
219
Download
6
Embed Size (px)
Citation preview
ASEAN ECONOMIC COMMUNITY 2015
DOING BUSINESS IN
Indonesia
| Thailan
d | M
alaysia
| Sing
apore
| Phili
ppine
s | V
ietna
m | M
yanma
r | B
runei
| Ca
mbod
ia |
Laos
ASEAN
Doing Business in ASEAN 2015 1
Foreword 5
IntroductIon to ASeAn 8 AimsandPurposes9 FundamentalPrinciples 10 ASEANCommunity 10
ASEANPolitical-SecurityCommunity(APSC) 10 ASEANEconomicCommunity(AEC) 11 ASEANSocio-CulturalCommunity(ASCC) 11
ASEANCharter 12
ASeAn At A GlAnce 13 RegionProfile:ASEAN 14 CountryProfile:BruneiDarussalam 15 CountryProfile:Cambodia 16 CountryProfile:Indonesia 17 CountryProfile:Laos 18 CountryProfile:Malaysia 19 CountryProfile:Myanmar 20 CountryProfile:Philippines 21 CountryProfile:Singapore 22 CountryProfile:Thailand 23 CountryProfile:Vietnam 24
ASeAn todAy: SocIo-PolItIcS 25 UnderstandingASEANDemographics:IsthereaDividend? 26 HumanRights 27 LabourandMigrants 27 ExtractiveIndustries:Mining,GasandOil 28 Environment,ClimateChangeandClimateJustice 28 GenderandChildRights 28 IndigenousPeoples 28 FreedomofInformation 29 Myanmar 29 Disability 29
ASeAn todAy: economIcS And Aec 2015 30 GrowingWithASEAN:TheAEC2015Vision 31 SingleMarketandProductionBase 32
FreeFlowofGoods 32 FreeFlowofServices 32 FreeFlowofInvestment 33 FreerFlowofCapital 33 FreerFlowofSkilledLabour 34 PriorityIntegrationSectors 34 FormsofForeignInvestments 35 Food,AgricultureandForestry 35 DisputeResolutionEnvironment 35
contentS
2
CompetitiveEconomicRegion35 CompetitionPolicy 35 ConsumerProtection 36 IntellectualPropertyRights(IPR) 36 InfrastructureDevelopment 36
EquitableEconomicDevelopment37 Small-MediumEnterprise(SME)Development 37 InitiativeforASEANIntegration(IAI) 37
IntegrationintotheGlobalEconomy38 CoherentApproachtowardsExternalEconomicRelations 38 EnhancedParticipationinGlobalSupplyNetworks 38
BridgingDevelopmentGaps39
lookInG Beyond ASeAn 40 ASEANandChina41
TradeRelationsintheModernEra 41 TheChinaConnectionforASEAN 42 ABrightFutureforASEANandChina 43 TheAsianInfrastructureInvestmentBank 44
ASEANandJapan44 RelationsbetweenSoutheastandEastAsia 44
ASEANandSouthKorea45 ASEAN-KoreanMultilevelCooperation 45
ASEANandIndia46 ASEAN-IndiaTradeRelations 46
ASEANandtheTrans-PacificPartnership47 ASEANandtheEuropeanUnion47 ASEAN,AustraliaandNewZealand48
dId you know: AmAzInG FActS ABout ASeAn 49
GloSSAry And AcronymS 54
reFerenceS And AcknowledGementS 55
AttrIButIon And credItS 57
rePoSItory oF PolIcIeS And dAtA 58
ABout the AuthorS 99 SpecialMention 105
contentS
Doing Business in ASEAN 2015 3
tABleS
Table1:PayingTaxesinASEAN(asat31December2013)58Table2:RestrictionstoForeignInvestment(asat31December2014)59Table3:CorporateFramework(asat31December2014)60Table4:LegalSystemsandDisputeResolutionEnvironment(asat31December2014)67Table5:Competition(asat31December2014)69Table6:ASEAN:Population,TerritoryandEconomy(2012)75Table7:ASEANandSelectedTradingPartners:Population,Economy(2012-2013)76Table8:ASEAN:NominalGrossDomesticProductforperiodsindicated77Table9:ASEAN6:ConsumerPriceIndexforFood,Housing,Transport(2008-2012)78Table10:ASEAN:InflationRate,end-of-period(inpercent)forperiodsindicated79Table11:ASEANLendingRates(inpercent)forperiodsindicated79Table12:ASEAN:ExchangeRates,average-of-period(nationalcurrency/US$)forperiodsindicated80Table13:ASEAN:TotalTradeforperiodsindicated81Table14:ASEANwithSelectedTradePartners:TradeBalanceforperiodsindicated82Table15:ASEANMemberStates:TradeBalanceforperiodsindicated83Table16:ASEANMemberStates:TotalTradewithASEAN+3(2012)84Table17:ASEANMemberStates:TotalTradeswithSelectedTradePartners(2012)85Table18:ASEANMemberStates:PercentShareofTotalTradewithSelectedTradePartners(2012)86Table19:ASEAN:Top20ExportCommodities1(2013)87Table20:ASEAN:Top20ImportCommodities1(2012)89Table21:Intra-ASEAN:TrendofPriorityIntegrationSectorsExportsforperiodsindicated91Table22:ASEAN:TrendsinFDIInflowsforperiodsindicated92Table23:ASEAN:TrendsinTouristArrivals,byhostcountryforperiodsindicated93Table24:ASEAN:InternetSubscribers/Users,per1,000personsforperiodsindicated94Table25:ASEAN:DistributionofPopulation,byagegroup(2012)94Table26:ASEANMemberStates:PopulationLivingunderPPP$125,inpercentforperiodsindicated95Table27:ASEANMemberStates:GiniCoefficientinASEANMemberStates,inpercentforperiodsindicated95Table28:ASEANMemberStates:LifeExpectancyatBirth,inyearsforperiodsindicated96Table29:ASEANMemberStates:GovernmentHealthExpenditureasPercentageofGDPforperiodsindicated96Table30:ASEANMemberStates:AdultLiteracyRate15YearsOldandAbove,inpercentforperiodsindicated97Table31:ASEANMemberStates:UnemploymentRatebyGender,inpercentforperiodsindicated98
contentS
FIGureS
Figure1:ASEANTotalTradewithChina43Figure2:ChinaODIDestinations43Figure3:ASEAN:AverageTariffRatesonIntra-ASEANImports90Figure4:ASEAN:ItemswithZeroPercentTariff90
4
dISclAImerTheinformationcontainedinthispublicationdoesnotconstituteprofessionaladviceTheauthorshaveendeavouredtoaccuratelystatethecontentsofthispublicationasat31March2015butdonotmakeanyrepresentation,expressorimplied,inrespectoftheaccuracyofthematerialandcannotacceptanylegalresponsibilityforanyerrorsoromissionsthatmaybemade
coPyrIGht notIceNopartofthispublicationmaybereproduced,storedinaretrievalsystem,ortransmittedinanyformorbyanymeans,electronic,mechanical,photocopying,recording,orotherwisewithoutwrittenpermissionoftheauthorsoralicencepermittingrestrictedcopyingCopyrightUnitedOverseasBankLimited,RSMChioLimLLPandRajah&TannSingaporeLLP2015Allrightsreserved
contentS
Doing Business in ASEAN 2015 5
Foreword
unIted overSeAS BAnk lImItedSoutheastAsiasgrowthstoryhaspropelledforwardinrecentyears
TherearehugeinvestmentopportunitiesinSoutheastAsiafrommanufacturingtoinfrastructuretoenergyandservicesWhentheeconomicblocof10nationsistakenasawhole,ASEANranksastheseventhlargestglobaleconomywithacollectivegrossdomesticproductofoverUS$24trillion
ItisthereforenosurprisethatrobustregionalgrowthforecastssuggestthatthecombinedeconomiesofSoutheastAsiawillbeacrucial,long-termdriveroftheglobaleconomy
However,realisingtheregionsfullpotentialislikelytobechallengingThekeychallengeliesintradeliberalisation,integrationofcapitalmarketsandstandardisationof legalandregulatoryframeworkswhichwillmakeitmucheasiertodobusinessacrosstheregion
Inspiteofthis,foreigndirectinvestment(FDI)inflowsintoSoutheastAsiahavesurgedoverthelastfouryears,growing fromUS$478 billion in 2009 toUS$151billion in 2014 This trend is expected to gather evenmoremomentuminthecomingyearsastheregionworkstowardseconomicintegration
UOBunderstandsthatcompaniesneedtoadoptaregionalstrategytotakeadvantageoftheshiftinginvestmentlandscapeTheBankalsohasdedicatedFDIAdvisoryteamsinChina,HongKongSAR,India,Indonesia,Malaysia,Myanmar, Singapore,Thailand andVietnam to address the diverse needs of companies expandingwithin theregion
Inlightofthis,wearepleasedtopartnerRSMChioLimandRajah&TannAsiatointroducethisguideaspartofourefforttohelpinternationalandregionalcompaniesnavigatetheirinvestmentsintheregion
eric thamManagingDirectorandGroupHeadofCommercialBankingUnitedOverseasBank
6
rSm chIo lIm llPAnyonewhowishestodobusiness inASEANmustfirstembrace itsdiversityAs a regional network of 10member nations governed by different politicalsystems, ithasapopulationofmore than600millionpeoplewhopractiseamultitudeofreligionsandspeakover70languagesanddialects
At present, there are three constitutional monarchies (Malaysia, CambodiaandThailand),threerepublics(Indonesia,thePhilippinesandSingapore),twocommuniststates(LaosandVietnam),oneconstitutionalsultanate(Brunei)andaformermilitaryjunta(Myanmar)
ASEANs economicperformance continues tooutperform theglobal averagewiththeAsianDevelopmentBankpredictingthatGDPinASEANcountrieswillgrow56%in2014ItisanticipatedthatwiththeimplementationoftheASEANEconomicCommunity(AEC)endof2015,aimingtointegrateASEANseconomyasasinglemarketandproductionbaseviathefreeflowofgoodsandservices,capital,investmentsandskilledlabour,ASEANsgrowthprospectswillbeexcitingASEANwillbeabletoenhanceitscompetitiveness inattractingforeigndirectinvestmentandtherewillbemoreinitiativestopromoteintegrationofbusinessesintheregiontocompeteeffectivelyintheglobaleconomy
Whataretherisks?CanASEANcontinueforgingaheadamiduncertaintyoverglobaldemand?Thedevelopmentgapswithinandbetweenthecountries,suchasdisparitiesinincome,law,taxsystems,financialsystems,capitalandexchangecontrols,arelikelytounderminetheadoptionofAECandwillcontinuetobethekeychallengesoverthenextfewyearsASEANneedstofosterdeeperintegrationasamatterofpriorityMorerigorouspoliciesareneededtonarrowthedevelopmentgapsbetweenmembersinordertoreapthedesiredbenefits
TheAEC2015visionisbutastartingsteponalongjourneyTobeatthemiddleincometrap,ASEANmustraiseproductivityandcreateanintegratedmarketwithstrongintra-andinter-regionaltradeflowsAccordingly,theseinitiativesmust bebusiness-centric anddrivenby thebusiness community leadership (such as the SingaporeBusinessFederation)andtheprivatesectorfromthegroundup
WeinRSMChioLim,togetherwithournetworkfirmsinASEAN,arewell-poisedtohelpourclientsridethewaveofopportunitiesthatwillundoubtedlyarisefromthisexcitingjourney
chio kian huatChiefExecutiveOfficerRSMChioLimLLP
Foreword
Doing Business in ASEAN 2015 7
rAjAh & tAnn ASIAWithacombinedgrossdomesticproductofUS$24trillion,ASEANrankstodayastheworldsseventhlargesteconomy(ifitwereacountry)
Demographic factors, suchasproximity toeconomicgiants,andacombinedpopulationrepresentingaround9%oftheworldspopulation,havecontributedto making ASEAN an attractive dest