Import & Export in Thailand (2023): Trade Policies & Regulation
Trade Policy Overview of Thailand in 2023 In 2022, Thailand’s merchandise exports reached a sum of US$287 billion, a growth from US$272 billion in the previous year. The merchandise imports for the same year were US$303.2 billion, leading to trade deficit. In addition, the deficit in services widened to US$22.1 billion in 2022, a slight […]
Import & Export in Indonesia (2023): Trade Policies & Regulation
Trade Policy Overview of Indonesia in 2023 Indonesia’s merchandise exports hit US$292 billion in 2022, a rise from the US$231.5 billion in 2021 and almost doubling the figure in 2020. The merchandise imports were valued at US$237.5 billion in 2022, resulting in a US$54.5 billion trade surplus. The services balance remained in deficit, decreasing to […]
Import & Export in Japan (2023): Trade Policies & Regulation
Trade Policy Overview of Japan in 2023 Japan’s economy is highly dependent on foreign trade. Merchandise exports from Japan stood at US$746.9 billion in 2022, down a bit from US$756 billion in 2021. Merchandise imports, on the other hand, amounted to US$897.2 billion in 2022, a significant rise from US$769 billion in 2021. The service […]
Import & Export in Taiwan (2023): Trade Policies & Regulation
Trade Policy Overview of Taiwan in 2023 Foreign trade plays a pivotal role in Taiwan’s economy, a fact underscored by the increase in its merchandise exports and imports. Taiwan’s merchandise exports amounted to US$ 479 billion in 2022, rising from US$ 454 billion in 2021. Meanwhile merchandise imports hit US$ 428 billion, generating a trade […]
Import & Export in Singapore (2023): Trade Policies & Regulation
Trade Policy Overview of Singapore in 2023 Singapore, traditionally a significant transshipment point for South-east Asia, ranks amongst the globe’s busiest container ports. Its role as a hub reflects the city-state’s limited natural resources and its heavy reliance on external trade. This characteristic is further underscored by Singapore’s high trade to GDP ratio, which is […]
Import & Export in Malaysia (2023): Trade Policies & Regulation
Trade Overview of Malaysia in 2023 Malaysia experienced a significant increase in merchandise exports in 2022, with the total value reaching US$352.5 billion, a significant leap from the US$234.8 billion recorded in 2020 and US$299.4 in 2021. In the same vein, merchandise imports also increased to US$294.4 billion in 2022, resulting in a trade surplus […]
Import & Export in India (2023): Trade Policies & Regulation
Trade Overview of India in 2023 In 2022, merchandise exports from India amounted to US$453.5, showing a significant increase from the pre-pandemic level of US$324.3 billion in 2019. Meanwhile, merchandise imports stood at US$732.4 bilion, leading to a trade deficit of US$278 billion, a widening gap when comparing to pre-pandemic level of US$ 162 billion. […]
Import & Export in Australia (2023): Trade Policies & Regulation
Trade Overview of Australia in 2023 The Australian government has consistently championed foreign trade and the dismantling of trade barriers, especially those that affect agricultural products. It recognizes that the Australian economy heavily leans on mineral resources and hence promotes international trade for economic stability and growth. The government has placed a significant emphasis on […]
Import & Export in Vietnam (2023): Trade Policies & Regulation
Trade Overview of Vietnam in 2023 According to the General Statistics Office, in 2022 Vietnam’s merchandise exports stood at US$371.3 billion, witnessing a significant increase from the previous year’s US$336 billion. The progression exhibited by the country in terms of exports showcases the robustness of the Vietnamese export market and highlights its growth potential. Merchandise […]
Investing in Brazil (2023): Gov Incentives & Economic Zones
Brazil’s Investment Incentives: Opportunities in 2023 Fiscal incentives, a favored tool of development and industrial policies, have benefited specific regions or industries in Brazil. However, recent austerity measures led to significant cutbacks in government programs. The administration of President Jair Bolsonaro, who took office in 2019, indicated it might further reduce incentives, especially through future […]
Investing in Turkey (2023): Gov Incentives & Economic Zones
Turkey’s Investment Incentives: Opportunities in 2023 Historically, Turkey has been gradually harmonizing its incentive system with that of the European Union’s Customs Union agreement, a process initiated in 1995. The government, in 2012, introduced a new investment-incentives scheme (NIS) with the dual aim of augmenting domestic production of intermediate goods and spreading industrial development more […]
Investing in Mexico (2023): Gov Incentives & Economic Zones
Mexico’s Investment Incentives: Opportunities in 2023 In order to attract private investment to the economy, the federal government of Mexico implements incentive programs. However, these programs no longer provide direct tax breaks as a result of a 2007 reform. This reform was driven by strained public finances and the structural weaknesses of a narrow tax […]
Investing in Pakistan (2023): Gov Incentives & Economic Zones
Pakistan’s Investment Incentives: Opportunities in 2023 The Pakistani government offers several investment incentives to companies, one of which is the provision of an initial depreciation allowance. This applies at 25% of the cost of assets that are wholly and exclusively used for the first time in Pakistan during the year. Notably, this includes second-hand machinery […]
Investing in Japan (2023): Gov Incentives & Economic Zones
Japan’s Investment Incentives: Opportunities in 2023 Foreign and local investors are equally eligible for incentives offered by both central and local governments in Japan. These incentives typically come in the form of tax breaks, grants, and loan assistance. The Development Bank of Japan plays a key role in this process, providing extensive financing assistance to […]
Investing in Taiwan (2023): Gov Incentives & Economic Zones
Taiwan’s Investment Incentives: Opportunities in 2023 Taiwan’s main document for industrial incentives, the Statute for Industrial Innovation (SII), was first issued in 2010. As the primary policy for industrial progression, the SII was due to lapse at the end of 2019. However, amendments made by the legislature extended significant tax incentives outlined in the SII […]
Investing in Singapore (2023): Gov Incentives & Economic Zones
Singapore’s Investment Incentives: Opportunities in 2023 Singapore’s government is actively dedicated to industrial growth, providing a host of investment incentives such as tax holidays, concessions, accelerated depreciation schemes, preferable loan conditions, equity participation, and high-quality industrial estates. This reflects Singapore’s commitment to attract international businesses to set up operations. As it primarily operates as a […]
Investing in Malaysia (2023): Gov Incentives & Economic Zones
Malaysia’s Investment Incentives: Opportunities in 2023 Malaysia provides a variety of appealing incentives for businesses looking to initiate new projects or grow their existing ones. These incentives are backed by several legislations such as the Customs Act of 1967, Income Tax Act of 1967, Sales Tax Act of 2018, Service Tax Act of 2018, Excise […]
Investing in the Philippines (2023): Gov Incentives & Economic Zones
Philippines’ Investment Incentives: Opportunities in 2023 The Philippines, as part of the ASEAN, boasts a complex investment incentive scheme that stands out among its regional peers. These incentives are largely shaped by the country’s legal framework, specifically the Omnibus Investments Code (Executive Order 226/1987 along with its subsequent amendments). This legal framework has been instrumental […]
Investing in Indonesia – 2023: Industrial Incentives & Zones
Indonesia’s Investment Incentives: Opportunities in 2023 Presidential Regulation (PR) 10/2021 enumerates 245 priority industries in Schedule 1. These sectors include “Pioneer Industries”, export-oriented manufacturing, capital-intensive enterprises, national infrastructure projects, digital economy, labor-intensive industries, and research and development activities, which are eligible for income tax holidays or so-called tax relief. The Ministry of Finance (MoF) Regulation No. 130/2020 sets […]
Investing in Thailand – 2023: Industrial Incentives & Zones
Thailand’s Investment Incentives: Opportunities in 2023 The country is known for its investment-friendly environment, through the 1977 Investment Promotion Act ( Investment Promotion Act ), the 2017 National Competitive Enhancement Act for Targeted Industries Act and the 2018 Eastern Economic Corridor Act ( EEC, Legislation such as the Eastern Economic Corridor Act provides a wide range of incentives. In Thailand, these measures are […]
Investing in Korea – 2023: Industrial Incentives & Zones
South Korea’s Investment Incentives: Opportunities in 2023 With South Korea signing the BEPS MLI (Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting) in 2017, its tax reform in 2019 also brought about a 180-degree change in incentives related to foreign direct investment. Change. The reform eliminated most incentives, including a 100% income […]
Investing in Vietnam – 2023: Industrial Incentives & Zones
Vietnam’s Investment Incentives: Opportunities in 2023 No.Law No. 32/2013/QH13 significantly changes and simplifies Vietnam’s investment incentive system, providing incentives for new investment or expansion projects in regions and specific industries facing socio-economic challenges. The reform amends the Corporate Income Tax Law ( 14/2008/QH12 ) and provides tax incentives for large-scale manufacturing projects that meet certain criteria. All local and foreign-invested […]
Investing in Australia – 2023: Industrial Incentives & Zones
Australia’s Investment Incentives: Opportunities in 2023 The Australian Federal Government provides incentives to investors in certain circumstances. These incentives are awarded based on a set of published eligibility criteria that require the investment to provide a significant net economic Australia. Grants and incentives are generally available to foreign companies operating in Australia and subject to […]
Investing in India – 2023: Industrial Incentives & Zones
India’s Investment Incentives: Opportunities in 2023 Like most developing countries, India’s investment incentives mainly focus on guiding investment flows to key development industries, stimulating economically backward regions, and promoting export growth. The federal government of India currently offers a number of incentive schemes, including corporate tax and non-tax incentives for the establishment of new industries; […]
