Tuesday, March 4, 2008

8 million jobs in Vietnam by 2010

The deputy minister Dam Huu Dac, Molisa’s announced the plans of generating eight million new jobs by the year 2010. It was part of a National Target Programmer on Job Generation. Workers are expected to increase each year from 1.5 to 1.6 million new jobs which have a total of 49.5 million expected to be employed by 2010. The ministry promised to complete a national information system on job availability and modernize 30 to 40 job-target centers. They are also planning to raise the rate of exported labor to between 40,000 and 50,000 by 2010. An increase of 65 percent over a five-year period.

Proposed tax exemption package in Thailand

The Thai government took a major step yesterday (March 4) to uplift the economy by approving a 42 billion baht of 1.32 billion US dollar tax-exemption package that will leave money both in corporate and individual pockets. In a months time, the government of Thailand will back it up with a longer-term economic- stimulus package targeting at benefiting people living in rural areas. The 42-billion baht tax savings approved by the Cabinet yesterday will be distributed to the firms listed in the Stock Exchange of Thailand (SET) and the Market for Alternative Investment (MAI), the property market, salaried workers and both small and medium-sized enterprises (SME’s). Newly listed firms and Initial public offerings (IPOs) can also benefit from the package if they apply for listing over the next 12 months.

Because of the lower taxes, corporate earnings will definitely improve. There will also be a reduction in the transaction and mortgage-registration fees for land, houses, townhouses, office buildings and condominiums to 0.01 percent. According to the stock broker's report, earnings of the listed companies would have a projected rise 14 percent to 59 percent if they can receive an estimated tax savings of 4.3 percent on revenue.

Monday, February 18, 2008

Expanding Business Operation in Asia

Port Klang Free Zone (PKFZ) in Port Klang Malaysia, is one of the industrial park in South East Asia. It represents an ideal investment for companies that aspire to expand their business operation across South East Asia or the whole of Asia. Considered to be Asia’s free zone, PKFZ is an integrated 1000 acre Free Commercial and Industrial Zone located adjacent to the port in Port Klang, Malaysia’s national gateway and the region’s transshipment. This trade zone provides facilities for international cargo distribution and consolidation center.

Sunday, February 17, 2008

Exploring Asia

Asia is the world's largest and most populous continent. It covers 8.6% of the Earth's total surface area (or 29.4% of its land area) and, with almost 4 billion people, it contains more than 60% of the world's current human population. Asia has the third largest nominal GDP of all continents, after North America and Europe. As of 2007, the largest national economy within Asia, in terms of gross domestic product (GDP), is that of China followed by that of India and that of Japan. However, in nominal (exchange value) terms, they rank as follows: Japan, China, India, South Korea, Saudi Arabia, Taiwan, Indonesia. Asia is the largest continent in the world by a considerable margin, and it is rich in natural resources, such as petroleum and forests. Manufacturing in Asia has traditionally been strongest in East and Southeast Asia, particularly in mainland China, Taiwan, Japan, South Korea and Singapore. Japan and South Korea continue to dominate in the area of multinational corporations, but increasingly mainland China, Taiwan, and India are making significant inroads. Many companies from Europe, North America, and Japan have operations in Asia's developing countries to take advantage of its abundant supply of cheap labor and relatively developed infrastructure.