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Newsflash ASEAN

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Latest news on law, tax and business in ASEAN.
 

 

 

 

 

 

 

 

 

 Editorial

Welcome to the Q3/2021 edition of our ASEAN Newsflash.

 

In recent months, the pandemic situation in various South East Asian states deteriorated remarkably, which led to vast lockdown measures and tightened immigration restrictions. The latter affected several of our clients, e.g. with regard to engineers or other staff required on-site for EPC projects, which should currently be planned with a broad time horizon.
 
As national tracing strategies turned out ineffective in recent times, vaccination schemes have now been rolled out in all countries of the region; some, however, appear to develop rather sluggish due to a comparably late participation in the Covax initiative or to insufficient vaccine supply arrangements.

 

In this context it seems a positive mid-term perspective that German biotech company BioNTech, who developed the Covid-19 vaccine Comirnaty together with American pharmaceutical firm Pfizer, plans to establish its Regional Headquarters for South East Asia in Singapore. An mRNA manufacturing facility is also planned to be set up here, being anticipated to be operational by 2023. The facility shall support global supply of mRNA-based vaccines and therapeutics, and provide a rapid response capability for South East Asia against potential future pandemic threats.

 

Next to the constantly adjusted immigration and quarantine regulations for travelers, several countries in the region further maintain or develop tax facilities or exemptions for companies and individuals to address the economic impact of the pandemic.

 

We continue to closely monitor the situation and discuss some actual developments in this issue.

 

Sincerely yours,

Markus Schlueter

ASEAN Desk

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Markus Schlüter

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

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