September 2016

First and foremost, I would like to offer my sincerest condolences to our Thai members and the people of Thailand on the passing of King Bhumibol Adulyadej, Rama IX. He had a very special relationship with the United States, being born in Massachusetts and meeting with American Presidents from Eisenhower to Obama.  We recognize the important work he did throughout his life to improve the lives of his people and offer our thoughts and prayers to all who mourn his passing.

The Philippines has been in the news due to President Duterte’s controversial comments. Our Philippines team took a look at the economic background to his trip to Beijing. You can read their update here.

In the last two weeks, the Council held its annual business missions to Indonesia, ASEAN and Brunei.  Among others, we had a chance to meet with Indonesian President Jokowi, ASEAN Secretary General Le Luong Minh and Brunei’s Minister of Foreign Affairs and Trade II LIM Jock Seng.

During our meetings in Indonesia, President Jokowi reiterated his commitment to continuing his reform efforts, cutting red tape and licensing requirements.  His 14^th reform package focusing on e-commerce will be released soon.  Last week the World Bank announced that Indonesia had advanced 15 places in its Ease of Doing Business Global rankings.  

In November, we look forward to our annual business mission to Myanmar on November 15-17, which will engage the new NLD-led government on a large scale for the first time.  We are also pleased to announce our first ever business mission to the ASEAN Transport Ministers Meeting, November 17-19, and our annual Asia-Pacific Presidents’ Mission, which will visit Vietnam November 29-30.

On October 6, the Council held our annual gala dinner celebrating another year of vitality in the US-ASEAN business relationship. We were honored to be joined by U.S. Ambassador to Brunei Craig Allen and U.S. Ambassador to Vietnam Ted Osius.  Both Ambassadors also participated in our annual U.S. Ambassadors Tour, which visited Houston and Philadelphia. The National Security Council Senior Director for Asia, Daniel Kritenbrink, represented the Obama administration, and discussed the success the administration has had in strengthening the US-ASEAN relationship, including the newest effort, U.S.-ASEAN Connect.

This was, of course, the last gala dinner we would hold during the Obama Administration, and after November 8 the Council will be hard at work connecting with the incoming transition team to offer our support for the continuation of focus on ASEAN that the U.S. government has offered over the past eight years.  Marc Mealy is leading an effort to provide a white paper to the new Administration on key policy issues in Southeast Asia going forward.  For more information, please contact Marc Mealy at mmealy@usasean.org.

Highlights

Advocacy

• The Council is providing support to the Information Technology Industry Council (ITI) in preparation for an industry focused mission to Indonesia, Singapore and Vietnam later this year (late November- early December).  The purpose of the mission is to advocate for 21^st century best practice based approaches to formulating and implementing ICT related policies and regulations.  Areas of focus will be country-specific and will include the following: enabling cross border data flows, implementing TPP related e-commerce commitments, cyber-security, and recommendations from APEC’s Digital Trade work streams.  The delegation will look to engage a range of stakeholders in each country’s domestic ICT Innovation ecosystem. As both organizations have many of the same member companies, ITI and the Council want to ensure that the ongoing ICT related advocacy efforts in ASEAN are mutually reinforcing.
• The Council is continuing its work on a business mission to the 2016 ASEAN Transport Ministers Meeting in Manila, November 17-18.  The mission will consist of a dialogue with the ten ASEAN ministers and selected bilateral meetings with individual ministerial delegations.  Given the strategic importance of infrastructure development in ASEAN to support greater regional connectivity and cross border economic activity for the AEC, the Council views this mission as an excellent opportunity for members to advocate that ASEAN nations adopt world class government procurement principles in sync with U.S. Trade and Development Agency (TDA)’s Global Procurement Initiative (GPI) and project development best practices, such as the value of life cycle costs.  Interested members can contact Marc Mealy at mmealy@usasean.org and Sunita Kapoor at Skapoor@usasean.org

Relationship Building

Please save the date for the following Business Missions:

• November 15 – 17: Myanmar Business Mission
• November 17 – 18: Business Mission to the 22^nd ASEAN Transport Ministers Meeting | Manila, Philippines
• November 29 – December 2: Asia Pacific Presidents’ Mission to Vietnam

Promotion

On October 11, the Council held a briefing with the Health & Life Sciences Committee on the progress of the SEA Spirit Foundation, an initiative that aims to provide health and disaster response capability for ASEAN.  The SEA Spirit Foundation proposes to acquire and station a U.S. flagged hospital ship full-time in ASEAN.  The ship will serve as a teaching hospital to supplement ASEAN medical training and disaster relief assistance through education and exchange programs. Learn more here.

Intelligence

• Our Philippines team examined the purpose of President Duterte’s visit to Beijing, and concluded there was an overwhelming focus on economic ties. Please click here to read the full analysis.
• Our Myanmar team examined the new Investment Law, which will take effect this November. To access the draft version of the investment law, please click here.  To access the Council’s analysis of the law, please click here.

Regional Highlights

TPP

As a member of the TPP Business Coalition, the Council supported the APCAC TPP letter campaign to the U.S. Congress by helping to secure U.S. company signatures (logos) on the letter. A copy of the letter is here.

View the Council's latest TPP updates

Industry Highlights

Customs

Major Developments

• The General Department of Vietnam Customs recently released several policy changes involving Certificates of Origin, organizational structure, and customs clearance times.  Vietnam is aiming to simplify customs procedures to foster a more business-friendly environment. In July, the government issued a customs reform plan, which aims to modernize Vietnam Customs by 2020.
• The Philippine Bureau of Customs continues their consultations on the implementation of the Customs Modernization and Tariff Act.  Draft Customs Administrative Orders, the consultation schedule, and other information can be found on the BOC website here.

Looking Ahead

The Council recently concluded its inaugural workshop with the ASEAN Customs Procedures and Trade Facilitation Working Group (CPTFWG) on September 26 in Ho Chi Minh City, Vietnam. For more information, please contact Ian Saccomanno at isaccomanno@usasean.org.

View the Council's latest Customs updates

Defense & Security

Major Developments

• On October 7, Philippine Defense Secretary Delfin Lorenzana said that he had officially suspended joint patrols with the U.S. in the South China Sea. Additionally, Defense Secretary Lorenzana said he would also ask a small detachment of American troops providing counter-terrorism support on the southern island of Mindanao to end their mission, but clarified that would only happen after the Philippine military has the capability to carry out the operations by itself, which could take years. These developments signal a reduction in some areas of U.S.-Philippine defense cooperation since the election of President Rodrigo Duterte this past June.  The U.S. and Philippines conduct 28 drills annually, but there have only been two exercises involving the two countries’ navies in the South China Sea.
• The Philippines has also begun to shift away from the U.S. in regards to defense procurement. On September 13, President Duterte ordered Defense Secretary Lorenzana to seek military equipment from suppliers in China and Russia, in order to combat terrorism and drug trafficking. However, defense procurement from China and Russia could prove challenging for the Philippines. These challenges would include re-training a military already deeply accustomed to working with U.S. equipment and the potential inter-operability of the military using both American and Russian equipment. The two countries have become more intertwined militarily over the past few years, increasing the number of joint exercises and training under the Obama Administration’s shift of U.S. forces towards Asia.

View the Council's latest Defense & Security updates

Energy

Major Developments

• Indonesia’s Acting Minister of Energy and Mineral Resources, Luhut Binsar Pandjaitan, announced on October 4 that raw mineral exports would resume for a period of five years to give mining companies enough time to construct smelters that would enable the eventual export of processed minerals.  Under a 2014 government regulation, unprocessed copper, iron ore, iron sand, tin, manganese, lead, zinc, and zirconium exports were banned.  The government has yet to specify which raw minerals will be allowed to be exported, or if all the minerals covered by the 2014 regulation will be allowed.  The government aims to have the policy adjustment completed around the end of October.  More information on the announcement can be found here.
• On September 21, during the 34th ASEAN Ministers on Energy Meeting (AMEM) in Nay Pyi Taw, Malaysia, Thailand, and Laos signed a memorandum of understanding (MoU) to facilitate the implementation of multilateral cross-border power trade.  The Energy, Green Technology and Water Ministry of Malaysia said that the MoU would allow Malaysia to purchase up to 100MW of hydro power from Laos, which would be transmitted through Thailand by 2018.  This development is the first step towards the ASEAN Power Grid initiative.  More information on the MOU can be found here.

View the Council's latest Energy updates

Financial Services

Major Developments

• The government of Myanmar plans to open the country’s nascent insurance industry to foreign firms in early 2017.  At the same time, the government will remove restrictions on local firms, which have forced them to offer the same products at the same prices as that of Myama Insurance (a State owned enterprise).  The changes will be reflected in a wide-reaching liberalization roadmap that the government plans to submit to Parliament (Hluttaw) in December.  In addition to making the industry more competitive, these changes will bring in much needed capital and expertise from foreign firms.
• On September 23, Bank Negara Malaysia’s (BNM) Governor Datuk Muhammed Ibrahim delivered a keynote address at the inaugural Future of Finance Conference in Kuala Lumpur. The conference, hosted by BNM, gathered industry leaders to discuss opportunities for the future of Malaysia’s financial sector development.  In his address, Governor Muhammed discussed how he sees the financial industry changing, especially with the advent of digital finance, and how these changes can be harnessed to support inclusive development.
• On September 19, MyClear, a BNM subsidiary responsible for payment services, re-launched a revamped Real-time Gross Settlement and Debt Securities Depository System (RENTAS).  RENTAS will now partner with the Society for Worldwide Interbank Financial Telecommunication (SWIFT) and is adopting new global standards as part of a larger internationalization project. The new RENTAS is the result of a multi-year effort to modernize Malaysia’s financial market infrastructures, in order to support the settlement of wholesale payments and securities denominated in international currencies.

View the Council's latest Financial Services updates

Food & Agriculture

Major Developments

In September, German chemical and agricultural giant, Bayer, agreed to take over U.S. agribusiness, Monsanto, in a US$f66 billion deal.  This deal makes Bayer the world’s largest supplier of seeds and crop sprays.  After four months of negotiations, Bayer has agreed to pay US$128 per share of Monsanto’s stock and take on Monsanto’s debt.  The deal is still pending review by regulators and anti-trust investigators.  This deal follows a series of multiple massive takeovers occurring in the agriculture business industry throughout 2016, including ChemChina’s acquisition of Syngenta and the Dow Chemical and DuPont merger.

Advocacy

The Council concluded its annual business mission to the ASEAN Ministerial Meeting on Agriculture and Forestry (AMAF) earlier this month. The delegation, which included ADM, DuPont, Elanco, Monsanto and Syngenta, conducted two presentations for the Preparatory Senior Official Meetings and 38th AMAF meetings, before meeting on the sidelines of the AMAF with the heads of delegation from Cambodia, Indonesia, Myanmar, the Philippines, and Vietnam.

View the Council's latest Food & Agriculture updates

Health & Life Sciences

Major Developments

• On October 12, ASEAN health representatives and the World Health Organization (WHO) experts met in Manila, Philippines, for the 67^th session of the Regional Committee for the Western Pacific.  During the meeting, officials discussed the progress of public health priorities, including ways to control the spread of dengue.  Regional director for the WHO in the Western Pacific Region, Shin Young-soo, said their aim is to control the disease. A few countries in Southeast Asia have already approved the world’s first vaccine for dengue, Dengvaxia, developed by Sanofi Pasteur.  In April, Philippines became the first country in the world to roll out the vaccine but health officials are currently monitoring its efficacy. Elsewhere in Southeast Asia, the Health Sciences Authority in Singapore has approved the vaccine after a seven-month review, and it will be made commercially available in several months.  The vaccine has also been approved in Thailand and Indonesia.  Malaysia has yet to permit its use and is currently studying its effectiveness.  
• On October 11, the Council held a briefing with member companies on the progress of the SEA Spirit Foundation, an initiative that aims to provide health and disaster response capability for ASEAN.  The SEA Spirit Foundation proposes to acquire and station a U.S. flagged hospital ship full-time in ASEAN.  The ship will serve as a teaching hospital to supplement ASEAN medical training and disaster relief assistance through education and exchange programs.

View the Council's latest Health & Life Sciences updates

ICT

Major Developments

• Indonesia’s Ministry of Industry finalized Regulation No. 65/2016 on a local content formulation for the import of 4G/LTE devices.  The Council played an active role in advocating for numerous revisions to the initial draft of this regulation.  The final regulation may be found here (Bahasa |English). The regulation outlines three methods by which a 4G/LTE device company can meet the 30 percent local component rule, with a large weighting on hardware, software or investment.
• Vietnam’s Ministry of Information and Communications (MIC) finalized and signed Decree 108 regulating business conditions for cyber security services/products, available in Vietnamese here.  The Ministry of Defense (MOD) also signed Decree 58, regulation import/export of encryption products.  It is available in Vietnamese here.
• On September 16, Thailand replaced its Ministry of Information and Communications Technology with the Ministry of Digital Economy and Society (DE).  The DE Ministry will oversee computer crimes, internet content, telecom, broadcasting, electronic transactions with national security and data privacy.  The new ministry will set up two ministerial agencies – the National Digital Economy Committee and the Digital Economy Promotion Agency – to help develop a digital economy.  For more information on DE Ministry, see our recent updates here and here.

Advocacy

• The Council submitted letters to Vietnam’s MIC and MOD (here and here, respectively) offering recommendations for the regulation of encryption products and services under the Law on Network Information Security.  The letters propose that the government employ a “core function” test as a guiding principle to determine which products and services are covered.
• During the Council’s annual Indonesia Business Mission, held October 18-20 in Jakarta, the delegation met with ICT Minister Rudiantara to address a range of ICT regulatory issues.  Meeting notes will be circulated soon.

Looking Ahead

• The Council’s annual Myanmar Business Mission will take place November 15-17 in Yangon and Nay Pyi Taw.  We have proposed to meet with the Minister of Transport and Communications to discuss ICT development.  Click here to register, and email Matt Solomon at msolomon@usasean.org with any questions.
• The ASEAN Telecommunications Senior Officials Meeting (TELSOM) and Telecommunications and IT Ministers Meeting (TELMIN) will take place in Brunei Darussalam the week of November 22, 2016.  Following our successful engagement with TELSOM last year, the Council is again planning to lead a delegation to the meetings.  For more information, contact Kim Yaeger at kyaeger@usasean.org.

View the Council's latest ICT updates

Infrastructure

Major Developments

• Vietnam is planning to build a giant port in Da Nang at a projected cost of US$1.4 billion to meet increasing logistics demands.  According to the contractor, Tediport, the existing Tien Sa Port is unable to meet the increasing cargo demands and warehouse space, which currently facilitates 10.4 million tons per year.  The city is planning to increase its annual capacity to 12 million tons of cargo.  The project has been broken down into three phases.  The first phase of construction is expected to be completed by 2020, the second and third phases by 2030 and 2050, respectively.  The first component will cost US$459.38 million which include breakwater, fairways and technical infrastructure, and the second component will be budgeted at $1.02 billion which will be followed by harbors, traffic infrastructure and warehouse construction.  The Da Nang port development is expected to become an international gateway for passengers, containers, liquid and dry bulk cargo.  During Vietnamese President Trần Đại Quang’s visit to Singapore in August, Singaporean business leaders highlighted infrastructure services such as seaports and transportation as key areas of interest for investment, the bulk of which is in infrastructure, services and real estate.
• The Industrial and Commercial Bank of China (ICBC) is giving out SGD$10.2 billion to support infrastructure development initiatives by local companies in Singapore, as part of China’s One Belt, One Road (OBOR) initiative. The Singapore Business Federation (SBF) disclosed its signed agreement with ICBC to assist Singapore-based firms in seeking opportunities under OBOR and in the regional and global expansion of trade and investment. Given its strategic location in Asia, Singapore is well-positioned to be Asia’s infrastructure hub. “We hope this partnership will provide SBF member companies more contact with ICBC’s customers and partners, nurture more OBOR project opportunities and obtain solid financial support,” said Ho Meng Kit, SBF CEO. A memorandum of understanding between SBF and other agreements with Singapore Press Holdings, Singapore Exchange, Surbana Jurong and Sinochem International Corporation was signed at an inaugural forum on infrastructure financing and cooperation under the OBOR initiative held on Sept 19. Mr Liew Mun Leong, chairman of Surbana Jurong and Changi Airport Group said, "With this MOU, Surbana Jurong will partner ICBC to offer its global clientele a full suite of comprehensive financial and engineering expertise for major urban and infrastructure projects in the 'One Belt, One Road' region." In addition, improvement on infrastructure will mean greater regional connectivity in the form of an economic hub, a concept that ASEAN nations hope will materialize into tangible economic benefits in the form of better market access, trade benefits, increased productivity and more. To improve such projects, more effective institutional coordination as well as collaboration in both public and private sectors to effectively manage capital, see projects through and find innovative ways forward are necessary.

Looking Ahead

The Council is pleased to announce that it is now registering senior-level executives for an inaugural Business Mission to the 22nd ASEAN Transport Ministers Meeting (ATM) taking place Thursday-Friday, 17-18 November, 2016 in Manila, Philippines. This mission will be our first engagement with the ATM. The Council has been invited to host the ten ASEAN Ministers for Transport, Senior Transport Officials and ASEAN Secretary General, H.E. Le Luong Minh for a working luncheon on 17 November. In addition, we will also request individual bilateral meetings with the ministers from key priority countries such as Indonesia, Myanmar, Philippines, Thailand and Vietnam. Other activities on the agenda include a breakfast briefing by the United States Commercial Service, a networking session with the Philippines private sector infrastructure conglomerates and international multilateral institutions, and attendance at ATM’s official opening ceremony. The deadline for submission of registration and delegate names was Wednesday, 26 October, 2016. To register for the mission, please click here. Please contact Sunita Kapoor at skapoor@usasean.org or Jack Myint at jmyint@usasean.org with any questions.

View the Council's latest Infrastructure updates

Country Highlights

Brunei

Major Developments

The Council's 2016 Brunei Business Mission was held on October 24, 2016. Read the press release here. For more information, contact Kim Yaeger at kyaeger@usasean.org.

View the Council's latest Brunei updates

Cambodia

Major Developments

• On October 12 Chinese President Xi Jinping made his first official visit to Cambodia.  According to the Cambodian Prime Minister’s office, a total of 31 agreements were signed during the visit, most prominent of which were to expand trade between China and Cambodia from the current $4.4 billion to $5 billion in FY2017 and the canceling of $90 million debt that Cambodia owed China this past fiscal year.  President Xi also promised to encourage more Chinese people to visit Cambodia, setting a goal to raise tourism from the current 700,000 visitors to 2 million by 2020.
• Mr. Mondole Pokmey recently joined the Royal Embassy of Cambodia as the Special Assistant to the Ambassador.  Mr. Pokemy brings years of experience working in various roles at the Ministry of Economy and Finance in Phnom Penh and in the private sector in the United States; most recently as an economist at Wells Fargo Bank.  He will serve as the point person for all communication with the Ambassador, going forward, and can be reached at pmondole7@gmail.com.

View the Council's latest Cambodia updates

Indonesia

Major Developments

• The Honorable Joseph R. Donovan was confirmed by the Senate September 27 as U.S. Ambassador to Indonesia and will officially begin December 1. His bio is available here.
• On October 14, President Jokowi appointed Ignasius Jonan as Minister of Energy and Mineral Resources. Jonan previously served as Minister of Transportation before July's cabinet reshuffle.  The previous Minister, Arcandra Tahar, who was removed for holding dual citizenship, was appointed Deputy Minister.
• President Jokowi addressed his cabinet on October 11, stating immediate, sweeping and comprehensive legal reform is needed to restore the public's trust in the justice system.  He outlined three directives: ministries and government institutions should focus on quality regulations that do not overlap with one another; legal institutions should be reformed, including the Public Prosecutor's Office, the National Police Force, and the Ministry of Law and Human Rights; and innovative measures should be taken to prevent and address corruption, human rights violations, smuggling, forest and plantation degradation, and narcotics trafficking.

Advocacy

The Council held its 2016 Indonesia Business Mission from October 18-20.  The 26 companies attending the Mission met with President Jokowi, Coordinating Minister for Maritime Affairs Luhut Panjaitan, Minister of Finance Sri Mulyani, and many other senior government leaders.  A full mission report will be distributed in the coming days.  Please contact Ian Saccomanno at isaccomanno@usasean.org with any questions.

Looking Ahead

As a follow up to May's Human Capital Development Forum in Jakarta, Arizona State University and partners (USAID, World Bank, and Indonesian academics) are seeking support for a project similar to Vietnam’s HEEAP Alliance.  The program would support STEM education and workforce development in Indonesia.  A concept note for the project may be found here.

View the Council's latest Indonesia updates

Laos

Major Developments

On September 28 Rena Bitter was confirmed by the Senate to be the new U.S. Ambassador to Lao PDR. Her bio is available here. The Council hosted Ambassador-Designate Bitter for a welcome roundtable on October 17.  For more information, contact Kim Yaeger at kyaeger@usasean.org.

View the Council's latest Laos updates

Malaysia

Major Developments

Malaysia is on track to ratify the Trans-Pacific Partnership Agreement (TTP) before the end of next year.  The Malaysian government is working on amending 18 laws in order to meet the terms of the TPP, which the Chief Secretary to the Government of Malaysia described as a “done deal" that would not be renegotiated.

Advocacy

The Council is preparing a letter to Bank Negara Malaysia's (BNM) new Fintech Enabling Office (FTEG) to raise concerns about BNM's delayed IT Outsourcing Guidelines. The letter will be presented to FTEG as a follow-up to September's letter on their Sandbox Discussion Paper, arguing that limits on IT outsourcing risks hampering fintech development. The draft of the letter may be found here. Please contact Ian Saccomanno at isaccomanno@usasean.org for more information.

View the Council's latest Malaysia updates

Myanmar

Major Developments

• On October 7, President Obama signed an executive order to terminate the National Emergency Act towards Myanmar, thus lifting the remainder of economic sanctions, which have been in place since the late 1980s.  This is in recognition of Myanmar’s strides toward democracy, evidenced by the first democratic elections that took place last year in which the National League for Democracy, led by Daw Aung San Suu Kyi, won a swooping victory.  The lifting of sanctions saw the removal of the Specially Designated Nationals (SDN) List, the ban on jade and ruby trade and reporting requirements for U.S. businesses investing more than $5 million in Myanmar.  Additionally, the White House also reinstated preferential tariffs for Myanmar under the Generalized System of Preferences (GSP), which will grant Myanmar tax privileges on exports to the United States.. For more information, view the Council’s press release here. President Obama officially signed the executive order removing sanctions on October 7^th, which can be viewed here.
• State Counselor and Minister of Foreign Affairs of Myanmar Daw Aung San Suu Kyi, visited the United States for the first time since her party won a landmark election last year.  During her visit, she met with representatives from the U.S. business community at a gala dinner hosted in her honor by the Council and the U.S. Chamber of Commerce, where she addressed the significance of foreign direct investments (FDIs) for Myanmar and encouraged U.S. businesses to invest.  A video recording of her remarks can be viewed here.
• A draft of the Myanmar Investment Law, which combined the current Foreign Investment Law of 2015 and the Myanmar Citizens Investment Law of 2013 passed both Houses of Parliament (Hluttaw).  The law is expected to take effect sometime in November, after final approval from President U Htin Kyaw. To access the draft version of the investment law, please click here.  To access the Council’s analysis of the law, please click here.
• The government announced that Myanmar’s Insurance Market will be fully opened to foreign firms in 2017, although it is still unknown whether they will be required to form joint ventures with domestic firms.  This same policy has eliminated the current monopoly that the domestic market has on insurance prices, after which 20 foreign firms opened offices in the country, although they have not yet been able to begin work.

Looking Ahead

• Register NOW for the Council’s Annual Myanmar Business Mission, November 15-17.
• The Council will host a welcome lunch in Washington D.C. for new Myanmar Ambassador to the U.S. U Aung Lynn Monday, November 7. For more information, please contact Jack Myint at jmyint@usasean.org

View the Council's latest Myanmar updates

Philippines

Major Developments

• Our Philippines team examined the purpose of President Duterte’s visit to Beijing, and concluded there was an overwhelming focus on economic ties. Please click here to read the full analysis.
• A proposal from the Department of Agrarian Reform (DAR), to implement a two-year moratorium on the conversion of agricultural land for non-agricultural purposes, has drawn opposition within President Duterte's cabinet from his economic team, which said the moratorium could unnecessarily slow down infrastructure and housing construction.  This division comes at a time when Duterte’s economic team is trying to draw focus to the country’s strong economic fundamentals amid international concern over his anti-drug crackdown.  More on the proposed moratorium can be found here.
• The Bangko Sentral ng Philipinas (BSP) is again pursuing amendments to its charter to give itself more funds and expand its oversight powers.  Along with the Bankers Association of the Philippines (BAP), Chamber of Thrift Banks (CTB), and the Rural Banks Association of the Philippines, the BSP aired its proposed amendment to Republic Act 7653, also known as the New Central Bank Act, to the 17th National Congress of the Philippines on September 7. 

View the Council's latest Philippines updates

Singapore

Major Developments

• On October 10, Prime Minister Lee Hsien Loong announced a national cybersecurity strategy.  The strategy is intended to support implementation of the next stages of Singapore’s Smart Nation initiative and to bolster trust in the city-state’s position as a regional data hub.  The new cybersecurity strategy—which supersedes previously released national masterplans on cybersecurity has four pillars-  building resilient infrastructure, creating a safer cyberspace, developing a vibrant cybersecurity ecosystem, and strengthening international partnerships.  More information on the new national cybersecurity strategy can be found here.
• On September 23, Minister of State for Health Chee Hong Tat stated that the Ministry of Health (MOH) plans to develop a National Diabetes Database to help it tackle the chronic disease, the prevalence of which in Singapore is the second-highest among developed nations, according to the International Diabetes Federation (IDF).  By enhancing MOH’s ability to monitor and evaluate the efficacy of its policies and programs targeting diabetes, the Ministry hopes that the national database will reduce the disease’s prevalence and provide useful data on associated healthcare utilization in Singapore.  More information on the National Diabetes Database can be found here.

View the Council's latest Singapore updates

Thailand

Major Developments

• The US-ASEAN Business Council offers its sincere condolences to the people of Thailand upon the death of His Majesty King Bhumibol Adulyadej after a long illness.  His Majesty was 88 years old, and had served Thailand as its King since 1946.  He was the longest-serving monarch in the world, and the only monarch born in the United States.  Thailand is the United States’ oldest treaty ally in Asia, and under His Majesty’s reign, the bilateral relationship has grown into an important political, economic, and cultural partnership.  The link to the US-ASEAN Business Council's press release can be found here.
• According to Thailand’s Ministry of Finance (MOF)’s Head of the Revenue Department MOF is considering plans to toughen tax collection rules for internet and technology firms.  These plans would also pertain to mobile transfers and the internet payment sector.  In addition to changing existing regulations, Thailand also plans to add a working committee to find solutions on tax collection for technology firms operating in the country.  The Ministry hopes to adopt new solutions and amend outdated regulations.
• On September 21, at the 34th ASEAN Ministers on Energy Meeting (AMEM), Malaysia, Thailand, and Laos signed a memorandum of understanding (MoU) to facilitate the implementation of a multilateral cross-border power trade.  The Energy, Green Technology and Water Ministry of Malaysia said the MoU would allow Malaysia to purchase up to 100MW of hydro power from Laos, which would be transmitted through Thailand by 2018.

Looking Ahead

The Council’s upcoming SME workshop in Bangkok, Thailand will focus on online marketing and e-commerce tools. The exact time and venue are still to be determined.  Potential stakeholders include the Office of SME Promotion in Thailand and Thammasat Business School. Email Mario Masaya at mmasaya@usasean.org for more information.

View the Council's latest Thailand updates

Vietnam

Major Developments

Late last month, the Vietnamese Government announced that the ratification of the TPP will not be on the National Assembly’s agenda during its current session, which will run through mid-November. This means that the assembly cannot ratify the TPP until the following session in 2017, which would be several months after the U.S. Presidential election. This delay, however, does not diminish Vietnam’s will to ratify the treaty. 

Looking Ahead

Later this year starting on November 29, the Council will conduct its annual Asia Pacific Presidents’ Mission, this year taking its delegation to Vietnam. Interested members should contact Kathi Lunardi at klunardi@usasean.org.

View the Council's latest Vietnam updates