Newsflash ASEAN

PrintMailRate-it

Latest news on law, tax and business in ASEAN.
 

 

 

 

 

 

 

 

 

 Editorial

Welcome to the Q4/2022 edition of our ASEAN Newsflash.

 

In this quarter, we have seen Southeast Asia in the spotlight of several high-level business summits. On 12 November, at the ASEAN-U.S. summit in Phnom Penh, President Joe Biden underscored the US partnership with ASEAN countries as the heart of his administration’s Indo-Pacific strategy, seeking to counter China’s growing influence ahead of his meeting with Chinese President Xi Jinping prior to the 17th G20 Heads of State and Government Summit in Bali. 
  
One day later, at a press conference held during his visit in Vietnam, German Chancellor Olaf Scholz stated that, as a consequence from geopolitical tensions and respective cluster risks, German companies should expand sales markets, supply chains, raw material sources and production sites to reduce economic dependency on individual countries or suppliers. In this regard ASEAN countries were clearly pointed out as regional options for economic diversification.
   
Another day later, at the 17th Asia-Pacific Conference of German Business (APK) in Singapore, Mr Scholz stated that Germany is keen on strengthening its economic ties with Southeast Asia, adding that “deepening cooperation is crucial, because we all feel that the geopolitical ground beneath our feet is shifting”. On the sidelines of the APK, German Vice Chancellor and Federal Minister for Economic Affairs and Climate Action, Robert Habeck, and the Minister-in-charge of Trade Relations of the Republic of Singapore, S. Iswaran, agreed on an inter-ministerial "Germany-Singapore Framework for Sustainability and Innovation" forming the basis for a regular and structured exchange on foreign economic policy issues. 
  
At the conference, Mr Habeck repeated the need for diversification. He emphasized that this would not be the same as decoupling from China, but rather means searching for new partners. In conclusion, the relevance of ASEAN as destination for foreign direct investment has boldly been stressed. Herewith we take our usual deeper look into actual developments which appear relevant for investors in this soaring region.  

We wish you a Joyful Festive Season ahead! 

Sincerely yours,

Markus Schlueter

ASEAN Desk

Contact

Contact Person Picture

Jürgen Baur

Partner

+66 2 0263 258

Send inquiry

Contact Person Picture

Markus Schlüter

Partner

+49 221 9499 093 42
+49 221 9499 099 00

Send inquiry

 How we can help

Deutschland Weltweit Search Menu