Philippines Investment Outlook, Hiring Managers in Vietnam – China Outbound

December 21, 2018 Posted by China Briefing Written by Dezan Shira & Associates Reading Time: 2 minutes

Our weekly round up of other news affecting foreign investors throughout Asia.

The Philippines’ Investment Outlook for 2019

At the end of 2017, the Philippines registered the highest rate of foreign direct investment (FDI) progress in ASEAN.

FDI continued to grow by 42 percent in the first half of 2018 due to increasing investor confidence driven by the country’s sound macroeconomic fundamentals and growth prospects.

GST Update: Back-Office Support Services to be Taxed in India

Multinational and Indian companies that provide offshore support services to foreign companies are now liable to pay 18 percent goods and services tax (GST) on their services.

In its latest order, India’s Authority of Advance Ruling (AAR) clarified that back-office support services will not qualify as exports, but as ‘intermediary services’, that are taxable under the Integrated Good and Services Tax (IGST) Act, 2017.

ODI Advisory

RUSSIA BRIEFING

Moscow to Expand its Own Payments Systems

Moscow will expand its own payments systems as Visa and Mastercard are expected to fall out of Russian use due to ongoing trade sanctions imposed by the US.

The Mir payment system was introduced in 2015 after clients of various Russian banks were unable to use Visa and Mastercard.

SILK ROAD BRIEFING

Belt Road Nations High on Bloomberg Emerging Markets 2018 Performance

Multiple Belt and Road (BRI) nations have featured in the top 20 emerging market economies, according to Bloomberg’s 2018 rankings.

Russia finished in second place, just behind Malaysia, and ahead of China in third. Other Asian countries, such as Philippines, Thailand, Indonesia, and India also all featured in high positions.

The rankings were based upon metrics ranging from growth prospects to the state of the current account, sovereign credit ratings, and stock and bond valuations.

VIETNAM BRIEFING

Hiring Mid-Level Managers in Vietnam

Investors in Vietnam are often surprised to learn that their biggest hiring challenge comes during the selection process for mid-level management.

Mid-level managers in Vietnam play a crucial role in functions such as staffing, dispute resolution, and employee retention.

Foreign companies need to be equipped to manage hiring challenges to reduce turnover costs, and this includes assessing employee preferences and cultural factors.

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China Briefing is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia and maintains offices in China, Hong Kong, Indonesia, Singapore, Russia, and Vietnam. Please contact info@dezshira.com or visit our website at www.dezshira.com.