2point6billion.com discusses investment news and events from the emerging markets of Asia - including India, China and the ASEAN countries. It is produced by the Asian foreign direct business advisors at Dezan Shira & Associates from their offices across emerging Asia.
May 21 – The Myanmar government has brought forward the date of permitting foreign banks access to the country by 12 months, Nay Aye, one of the two deputy governors at the country’s central bank said on Friday. Banks from the ASEAN region will be allowed to set up operational branches by 2014, while banks from other countries will be able to establish joint ventures within the same time-frame, he was reported as saying. Continue reading
Op-Ed Commentary: Chris Devonshire-Ellis
May 18 – As the United States has just eased its financial sanctions against Myanmar, now seems an appropriate time to take a look at the actual situation on the ground there and the opportunities for foreign investment. Our practice, Dezan Shira & Associates, has a strong presence throughout Asia and with seventeen offices just between China and India alone, Myanmar – sandwiched right between these two Asian giants – seems an appropriate place to target. However, having visited the country and taken soundings, much remains to be done before Myanmar is even suitable for foreign investors to enter without either huge resources or strong doses of entrepreneurial commitment. It is not, as others have suggested, a destination that foreign investors should be running to. Such talk is hopelessly naive. Continue reading
Afghanistan Parliament Building, Kabul. Funded by India.
May 18 – With the U.S. pulling out of Afghanistan, India is poised to become the nation’s largest investor. When NATO withdraws troops by 2014, the Indian government is keen to take up the mantle of helping redevelop the country.
U.S. research has suggested some US$1 trillion of minerals and deposits exist in Afghanistan, with Indian investors looking to secure contracts to obtain mining and processing rights. India’s Geological Survey Department and the National Mineral Development Corporation are already involved with the country. Delhi is also hosting a Global Investors Afghanistan Conference in the Fall, among several that have started to be announced recently, including recent events that have taken place in Dubai and the Middle East. India already supplies helicopters to the Afghan military, and the Afghan police force has been undergoing training in camps in Hyderabad for some time. Continue reading
May 14 – The United Nations Economic and Social Survey of Asia and the Pacific (ESCAP) launched the 2012 edition of the Economic and Social Survey of Asia and the Pacific on May 10, the oldest and most comprehensive annual review of economic and social development in the region. The survey scales down the economic growth of the region to 6.5 percent in 2012, with China and India expanding their economy by 8.6 percent and 7.5 percent, respectively.
Similar to the statement made in the Asia-Pacific Regional Outlook by the IMF, ESCAP sees Asia as the world’s fastest growing region and an anchor for global economic stability. According to ESCAP, the growth rate of the region’s developing economies is projected to slow down to 6.5 percent in 2012 compared to 7 percent in 2011 and 8.9 percent in 2010. However, the slowdown is expected to lower the inflation rate in the region from 6.1 percent in 2011 to 4.8 percent in 2012. Continue reading
May 3 – The International Monetary Fund released its new Regional Economic Outlook for Asia-Pacific in April, projecting 6 percent regional growth in 2012 and 6.5 percent in 2013. However, by remaining the fastest growing region in the world, Asia-Pacific shares both the upside and downside risks of the global environment. The report cautions on potential challenges and provides possible solutions for Asian countries to gain momentum in economic growth over the course of 2012.
A slowing but promising Asian economy
Sluggish economic performances in the Eurozone and the United States are having a significant effect on the Asian market, since many countries in the region have export-oriented economies relying heavily on external demand.
However, there are signs of stabilization in the Asia Pacific region even while the global environment remains uncertain. Continue reading
May 2 – The latest issue of DPRK Business Monthly is now available as a complimentary PDF download on the Asia Briefing Bookstore. The regular magazine looks at current international, domestic, and peninsular affairs concerning North Korea while also offering commentary and tourism information on the country.
In recent international news, KCNA reported that a regular Rajin-Khassan cargo train service will run from October this year.
The railway project was highlighted in the historic DPRK-Russia Moscow Declaration, which was signed in August 2001, according to Kim Chang Sik, a department director of the DPRK Ministry of Railways. Continue reading
Apr. 25 – With roughly 14 million users now registered in the country, India has surpassed China as the second largest market for the business-focused social media networking site LinkedIn.
LinkedIn has seen its Indian user base grow by more than 300 percent over the three years it has had a marketing presence in the country to where it now only trails the United States, according to LinkedIn Chief Executive Jeff Weiner. Continue reading
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Dezan Shira & Associates provide a range of services for companies looking to undertake foreign direct investment into Asia, These include corporate establishment, accounting, tax, payroll, audit and due diligence. To learn more about the firm, please contact one of our specialists at china@dezshira.com, download our corporate brochure or visit at us www.dezshira.com
