Japanese companies shift focus on Southeast Asia: JETRO
More and more Japanese firms are expanding business in Southeast Asia and scaling down operations in China due to its escalating tensions with the US, according to the Japan External Trade Organization (JETRO).
Workers of Japan's Foster Electronics Limited Company in Bac Ninh (Source: VNA)
Tokyo (VNA) – More and more Japanese firms are expanding business inSoutheast Asia and scaling down operations in China due to its escalatingtensions with the US, according to the Japan External Trade Organization(JETRO).
The organization’s new trade and investment report quotedits survey conducted late last year as saying that 41 percent of Japanesecompanies are considering expanding operations in Vietnam in the next threeyears or so, up 5.5 percentage points from a year earlier, and 36.3 percent ofrespondents had given a similar answer for Thailand, up 1.5 percentage points.
Meanwhile, 48.1 percent said they would boost business inChina, down 7.3 percentage points.
According to the report, since 2018, an intensifiedconfrontation between the US and China has pushed up Japanese companies'investment in the Association of Southeast Asian Nations (ASEAN).
The gap between the amount of Japanese investment into ASEANand China increased to 20.4 billion JPY (191 million USD) in 2019 from 10.2billion JPY in 2017.
The COVID-19 pandemic has significantly reduced Japaneseinvestment in the Asian market, as well.
In the first five months of 2020, Japanese investment in ASEANdropped by 35.5 percent./.
Vietnam's efforts to improve its international trade policy by monitoring world trends have been highly praised by foreign companies, Executive Vice President of the Japan External Trade Organization (JETRO) Hironobu Kitagawa has said.
Two Japanese firms - renewable energy producer Aura Green Energy Co. and solar panel system provider WWB Corp - have teamed up to launch a hybrid power generation business combining biomass and solar energy in Cambodia in 2021, aiming to help secure stable power supply.
Japanese companies operating in Indonesia will stick to their future investment plans, despite declines in sales and production due to the COVID-19 pandemic, a survey conducted by the Japan External Trade Organization (JETRO) has shown.
The Japanese Government plans to promote a platform to member countries of the Association of Southeast Asian Nations (ASEAN) for digitalizing all trade-related documents, Kyodo News cited sources close to the matter as reporting on August 5.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
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The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
Workers of Japan's Foster Electronics Limited Company in Bac Ninh (Source: VNA) 
