As a reflection of investor confidence, the US News and World Report named the Philippines as the “Best Country to Invest In” in its 2018 Best Countries report, outranking Indonesia, Poland, Malaysia and Singapore. Moody’s and Standard & Poor’s upgraded our credit rating outlook from “stable” to “positive” in April 2018 due to improvements in policy- making while Fitch upgraded our Long-Term Foreign-Currency Issuer Default Rating from BBB-, the minimum investment grade, to BBB in December 2017, which it affirmed in July 2018.
One year ago today saw Tun Dr. Mahathir bin Mohamad reinstated as Prime Minister of Malaysia. The Malaysian government is implementing policies to drive economic growth and encouraging investors to look at the country with a renewed sense of confidence. Over the past twelve months, Malaysia has undergone a period of increased stability and economic growth through the government’s efforts to work more closely with regional partners, including Japan.
Singapore’s Ambassador to Japan Lui Tuck Yew shares some insights with Synergy Media Specialists on the current state Japan-Singapore relations.
Singapore and Japan have teamed up with initiatives such as the Japan Singapore Partnership Program for the 21st Century (JSPP 21) to facilitate ASEAN integration and provide technical cooperation to third countries. How has the Singapore-Japan relationship contributed thus far and are there any special plans in motion as 2020 approaches?
Vietnam’s unprecedented economic growth has captured the world’s attention Foreign direct investment (FDI) reached $19.1 billion in 2018 — a 9.1 percent increase compared with the previous year. With a stable political landscape, gross domestic product growth of 6.8 percent and strong export figures, investor confidence in the Southeast Asian country is stronger than ever. With $8.6 billion worth of FDI approvals in Vietnam last year, Japan is the largest investor in the country. Bilateral relationships between the two countries are also at an all-time high.
This year saw the International Monetary Fund rank Qatar as the world’s richest country based on gross domestic product per capita. According to the World Economic Forum’s Global Competitiveness Report 2017–2018, Qatar ranks as the 25th most competitive economy in the world and the country is continuing to develop its ties to Japan.
In 2008, during the reign of His Highness Sheikh Hamad bin Khalifa Al Thani, the Father Amir, the Qatar National Vision (QNV) 2030 was launched to lead Qatar into the future.
This year marks the 100th anniversary since the birth of Sheikh Zayed bin Sultan Al Nahyan, the revered former ruler of the United Arab Emirates. Year of Zayed celebrations are being held in recognition of Sheikh Zayed’s visionary nation-building achievements and strong values based on wisdom, respect, sustainability and human development, which have shaped the UAE and its citizens. Under Sheikh Zayed’s leadership, the UAE, with its diverse, cosmopolitan society, has become an international business and travel hub within the Middle East.
As Chair of this year’s 33rd Association of Southeast Asian Nations (ASEAN) Summit, Singapore is forging partnerships and creating a resilient and innovation-driven economic region. “We will continue to focus on an agenda aimed at fostering ASEAN unity and centrality through the theme ‘resilience’ and enhancing regional economic integration through ‘innovation,’” said Chee Wee Kiong, Permanent Secretary, Singapore Ministry of Foreign Affairs. “Japan and Singapore have over the years established cooperative ties...
President Tsai Ing-wen’s administration has placed high priority on transforming Taiwan’s economy.
The government aims to drive growth through five major advanced industries — green energy, smart machinery, biotechnology and pharmaceuticals, defense and the development of an Asian Silicon Valley.
The latter involves the development of solutions driven by the “internet of things” and artificial intelligence, and will support technology start-ups.
The Japanese government’s efforts to facilitate cultural exchanges with Hong Kong have resulted in programs offered to students interested in studying and immersing themselves in Japanese society.
The Japan Hong Kong Society helps to promote mutual understanding and friendship between Hong Kong and Japan through cultural cooperation.
Through strong leadership and the establishment of real economic drivers, the Philippines has transformed itself into a leading Southeast Asian investment destination.
Despite impressive economic growth, there are ‘growing pains’ for the country to address and infrastructure acceleration is high on the government’s ten point Socioeconomic Agenda.
Since Japan and Indonesia established bilateral relations in 1958, much has been achieved. Trust, investment and a spirit of partnership have enabled the relationship to grow beyond economic and political ties and encompass friendship and social responsibility. Over the last decade, Japan has become one of Indonesia’s top export destinations.
Japan and ASEAN, which celebrate 45 years of friendship and cooperation this year, have built up an excellent relationship over many years. Our economic ties have developed into a very close, mutually beneficial relationship, with more than 10,000 Japanese companies actively engaged in business in many different areas in the ASEAN region.
The city-state of Singapore has seen remarkable growth since being founded just over half a century ago. By upholding the best of Asian values, Singapore continues to lead the way in an increasingly globalized world. Many Southeast Asian countries are blessed with an abundance of natural resources.
Taiwan continues to impress global markets through its focus on innovation, technology and stability. An expanding economy, GDP is expected to grow at 2.27 per cent in 2018. The self-governing island nation seeks to secure its position as the most prominent of the ‘Four Asian Tigers’ -Taiwan, Hong Kong, Singapore and South Korea.
‘What we have decided today is only a small beginning of what we hope will be a long and continuous sequence of accomplishments of which we ourselves, those who will join us later and the generations to come, can be proud’. - Dr. Thanat Khoman.
India is the fastest growing economy in the world. According to a report released earlier this year by The World Bank, the country’s projected growth rate of 7.2 per cent for 2017-2018 is expected to increase to 7.7 percent in 2019-2020. To sustain this level of growth, the country must continue to attract foreign investment and India is committed to strengthening its ties with the ten Association of Southeast Asian Nations (ASEAN) member countries.