ASEAN Briefing

As the gateway to Southeast Asia, Kuala Lumpur growingly is emerging as a prime investment destination. Boasting investor-friendly policies, a pool of skilled professionals, and high quality of life, the city beckons global investors to explore lucrative prospects in the digital economy, green initiatives and global services sectors. Greater Kuala Lumpur (Greater KL), is the heart of a regional hub, offering a vibrant business center, competitive costs, and robust infrastructure and technology ecosystem. InvestKL, a promotion investment agency under the Ministry of Investment, Trade and Industry, secured RM2.48 billion (US$517 million) in the first half of 2023 for Greater KL, demonstrating Greater KL’s substantial investment opportunities. In collaboration with InvestKL, ASEAN Briefing delves deep into the vibrant investment landscape of Greater Kuala Lumpur. Read the full article here 👉 https://ow.ly/g4RM50QkUxO --- 📰 Article also featured in: https://ow.ly/xN5U50QkUxZ #DezanShira #ASEANBriefing #KualaLumpur #GreaterKualaLumpur#GreaterKL #Malaysia #InvestmentDestination

Twenty More Countries Have Applied To Join BRICS The BRICS Ambassador at large, Anil Sooklal, has stated that a further 20 countries, in addition to the recently proposed six new members invited earlier this year, have applied to join the BRICS group. We provide a summary of all 20 new candidate BRICS nations plus an overview of the global trade impact should they join: https://ow.ly/PVIp50QggBl #ASEANBriefing #BRICS

UAE and Philippines Look To Increase US$1.9 Billion Non-Oil Trade Via a CEPA Agreement The UAE and the Philippines are looking to boost their US$1.9 billion non-oil trade ties as they negotiate details of a Comprehensive Economic Partnership Agreement (CEPA) between the two countries. A joint statement has been signed between their two respective Foreign Ministers. Learn more: https://ow.ly/WS3H50QflxE #MiddleEastBriefing #UAE #Philippines #NonOilTrade #Trade #CEPA

Russia and ASEAN: The 2023 / 24 Trade and Investment Dynamics The ties between Russia and the Association of Southeast Asian Nations (ASEAN) are multifaceted and have evolved over the past decade with special focus from Moscow paid to the region following the eruption of the conflict in Ukraine. This is all part of Russia’s efforts to refocus its trade and supply chains to the East and is an important part of Russia’s pivot to Asia as it disengages with the European Union. Find out more: https://ow.ly/Ofy350QeeXf #ASEANBriefing #Russia #ASEAN #Trade #Investment

Russia and Thailand: The 2023/24 Trade and Investment Dynamics Thailand holds a strategic position in Southeast Asia for Russia, acting as a gateway to the broader ASEAN region. It's notable for being second in the region in economic strength. Recognizing this, Russia inaugurated a consulate in Phuket in July 2023, underscoring its keen interest in bolstering trade relations with the country, which is also popular with Russian tourists, some of whom establish small businesses. Find out more: https://ow.ly/KvWk50QcLOM #ASEANBriefing #Russia #Thailand #Trade #Investment

The Philippines Enters Islamic Financing Sukuk Bond Market In a groundbreaking move, the Philippines has officially declared its entrance into the Islamic finance market. The Philippines Bureau of Treasury (BTr) disclosed plans for a benchmark-sized Sukuk offering denominated in US dollars with a 5.5-year tenure. Manila will issue a US$1 billion Sukuk bond in a national first as it targets Middle East financing. Learn more: https://ow.ly/7lxC50QciqQ #ASEANBriefing #Philippines #IslamicFinancing #Sukuk #SukukBond #BondMarket

Russia and Cambodia: The 2023 / 24 Trade and Investment Dynamics Cambodia is an important ally for Russia, as a member of ASEAN. Part of Russia’s 2023 Foreign Policy Concept is specifically aimed at developing ties with ASEAN, and Cambodia is part of this. Despite Cambodia’s relatively minor market potential – the country has a population of just 16.5 million (just 20% higher than Moscow) – Cambodia is competitive in a variety of manufacturing sectors and is beginning to attract foreign investment from businesses previously based in neighbouring Vietnam. More details: https://ow.ly/UR9f50QbPmX #ASEANBriefing #Russia #Cambodia #Trade #Investment

Russia and Brunei: The 2023/24 Trade and Investment Dynamics Brunei and Russia interact within various international and regional organizations. Their cooperation in forums like the United Nations, ASEAN, and APEC is significant. In these forums, both countries have found common ground on issues like economic development, counter-terrorism, and regional security, as well as bilateral trade. Trade turnover between the two countries, although relatively minor, has been increasing, albeit with some bumps along the way. More details: https://ow.ly/PNCa50QbnGK #ASEANBriefing #Russia #Brunei #Trade #Investment

Vietnam - Hong Kong Opportunities As Bilateral Trade Expands Nguyễn Văn Quân, chairman of Vietnam’s Institute for Economics and Trade Development (IETD) said there remains vast potential for cooperation between Vietnam and Hong Kong in numerous trade sectors including investment, services, finance, and logistics. He said that bilateral trade between Vietnam and Hong Kong was increasing at a rate of over 10% per annum. Vietnam exported goods worth US$10 billion to Hong Kong last year and imported commodities worth US$1.78 billion from Hong Kong, up 19.8% year-on-year. Learn more: https://ow.ly/JOj450QaALM #ASEANbriefing #Vietnam #HongKong #BilateralTrade

Saudi Arabia, India and Indonesia Set To Be 2024’s Fastest Growing Global Economies Saudi Arabia will be among the world’s fastest growing economies in 2024, according to a report published by credit ratings agency Moody’s this week, with the Kingdom’s GDP growth forecast to expand by 4.6% next year. This means that the Gulf’s biggest economy will be among the three top fastest growing countries in the world next year, with only India and Indonesia set to expand faster. These two latter nations are respectively expected to grow at 6.2% and 5% each next year. Learn more: https://ow.ly/K7zx50Q9guS #ASEANBriefing #SaudiArabia #India #Indonesia #GlobalEconomy