ASEAN head urges expansion of cross-border investment
ASEAN Secretary General Surin Pitsuwan urged regional businesses to take advantage of the
grouping's trade and investment privileges to expand business in the
region.
ASEAN Secretary General Surin Pitsuwan
on Nov. 28 urged regional businesses to take advantage of the
grouping's trade and investment privileges to expand business in the
region.
ASEAN has offered many special incentives for investment, however, very few businesses in Thailand and other ASEAN countries have invested in other countries of the bloc, Surin said at the Thai Chamber of Commerce’s annual convention.
Foreign direct investment in ASEAN was 60 billion USD in 2008, of which only 11 billion USD was from regional investors, mostly those from Singapore and Malaysia , he said.
The General Secretary also suggested Thai businesses should do their own production and marketing in a bid to maximise the dividends from regional integration under the ASEAN Economic Community (AEC), amidst the pressure from foreign companies on the Thai market.
ASEAN aims to achieve a single market in 2015. Next year, six members - Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand - will cut their import duties to zero and the remaining countries are expected to follow by 2015.
It has also committed to allowing a free flow of skilled workers in five years under the AEC./.
ASEAN has offered many special incentives for investment, however, very few businesses in Thailand and other ASEAN countries have invested in other countries of the bloc, Surin said at the Thai Chamber of Commerce’s annual convention.
Foreign direct investment in ASEAN was 60 billion USD in 2008, of which only 11 billion USD was from regional investors, mostly those from Singapore and Malaysia , he said.
The General Secretary also suggested Thai businesses should do their own production and marketing in a bid to maximise the dividends from regional integration under the ASEAN Economic Community (AEC), amidst the pressure from foreign companies on the Thai market.
ASEAN aims to achieve a single market in 2015. Next year, six members - Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand - will cut their import duties to zero and the remaining countries are expected to follow by 2015.
It has also committed to allowing a free flow of skilled workers in five years under the AEC./.
You should also see
Vuong Dinh Hue permitted to cease holding positions, working
The 13th Party Central Committee on April 26 agreed to let Vuong Dinh Hue cease holding the positions of Politburo member, member of the 13th Party Central Committee, and Chairman of the 15th National Assembly (NA) in the 2021 - 2026 tenure.
See more
World
Thailand expects wave of tourists during Golden Week
The Tourism Authority of Thailand (TAT) estimates that about 996,000 foreign tourists will visit the Southeast Asian country between April 26 and May 5, known as the Golden Week holidays in Japan, during which Chinese tourists also prefer to travel overseas.
World
Argentinian media praises Dien Bien Phu Victory
Argentinian newspapers have called Vietnam's Dien Bien Phu Victory (May 7, 1954) a symbol of the national liberation movement of oppressed and colonialised peoples worldwide.
World
Laos speeds up granting licences to foreign workers
Laos's Ministry of Labour and Social Welfare plans to issue visas to illegal foreign workers and extend permits to legal ones so that they can continue to work in the country.
World
Argentinian scholar praises Vietnam’s April 30, 1975 victory
The complete reunification of Vietnam on April 30, 1975 was an extremely significant event in the history of the country and the world, opined a scholar from the Institute for International Relations at the National University of La Plata, Argentina.
World
Malaysia tackles food security challenges
Empowering local communities in the agriculture sector to attract young people to this field is one of the measures taken by Malaysia to address labour shortage while also contributing to tackling challenges in food security.
