Southeast Asia

Short Code
AC
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
4,800,000,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Vietnam's shift from a centrally planned economy to a market economy has transformed it into a lower-middle-income country. Vietnam’s economy continues to show fundamental strength, supported by robust domestic demand and export-oriented manufacturing. Vietnam is now one of the most dynamic and fastest-growing emerging markets globally. In 2018, a continued stellar expansion in manufacturing output, propelled by buoyant export demand for electronics and supported by robust FDI inflows, primarily fuelled solid growth. 2018's robust growth is expected to spill over into 2019 and 2020, thanks to healthy private consumption supported by strong private credit growth and rising incomes. The industrial sector also continues to expand at a stellar pace, supported by strong FDI inflows. Vietnam's 2011-2020 Socio-Economic Development Strategy – a 10-year strategy – highlights the need for structural reforms, environmental sustainability, social equity and macroeconomic stability. The Socio-Economic Development Plan for 2016-2020, approved in April 2016, looks to accelerate reforms.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

September 2016
India announced half a billion dollars' worth of credit for Vietnam towards defence spending.

 

July 2018
Doosan Heavy Industries & Construction started the construction of a 1.33GW thermal power project in Vietnam. The project, known as Nghi Son 2, involves construction of two 665MW thermal power generation plants in Thanh Hóa. Construction is scheduled to be completed by July 2022.

 

August 2018
Thai firm Siam Cement Group Public Company Limited had signed loan agreements worth more than USD3.2 billion with six financial institutions for the Long Son Petrochemicals' complex in Vietnam. The project, which would require an investment of around USD5.4 billion, would be located in Bà Ria-Vung Tàu Province. Commercial operations are expected to begin in 2023.

 

October 2018
The Communist Party of Vietnam, Vietnam's ruling Communist Party, agreed to nominate General Secretary Nguyen Phu Trong as president. This took place almost two weeks after the death of former-president Tran Dai Quang on September 21, 2018.

 

December 2018
Construction was scheduled to start on Hà Noi's mega smart city in Vietnam in December, subject to timely approvals and land availability. The 2.72sq km Nhat Tân-Noi Bài project is estimated to cost USD4.2 billion and works are scheduled to be completed in 2030.

 

January 2019
In 2018, the Vietnamese government passed several new and amended laws which come into effect in 2019. The laws primarily focus on wages, environmental projects, the food industry, rural development, cybersecurity and administrative procedures.

 

October 2019
Sumitomo Corporation and BRG Group formed a 50-50 joint venture to build a USD4.2 billion smart city in Hanoi. The five-phase project would come up on a 2.72sq km area in the northern district of Dong Anh. Overall, the project will have 7,000 residential units, hospitals, schools, disaster prevention facilities, security systems and commercial facilities. Construction will start in 2020 with the project due for completion in 2028.

 

November 2019
The government of Vietnam sanctioned Dung Quat 1 and 3 combined cycle gas turbine plants in Quang Ngai province. The power facilities would have a capacity of 750MW each. The Dung Quat 1 plant is planned to begin construction in January 2021 and first light to be produced in December 2023. Construction of the Dung Quat 3 is due to start in January 2022 with operations slated to commence in December 2024. The two facilities will use gas from Blue Whale gas field in South China Sea.

Sources: BBC Country Profile – Timeline, Fitch Solutions, VN Express

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
Nil
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

The Philippines has one of the most dynamic economies in the East Asia and the Pacific region. With increasing urbanisation, a growing middle income class, and a large and young population, the Philippines' economic dynamism is rooted in strong consumer demand supported by improving real incomes and robust remittances. Business activities are buoyant with notable performance in the services sector (including business process outsourcing), real estate, and finance and insurance industries.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

June 2016
Rodrigo Duterte was elected president and announced a hard-line crackdown on drugs. He also suggested that he might pivot from the United States to Mainland China.

May 2017
Martial law was imposed on the island of Mindanao after fighting erupts between security forces and Islamic State-linked militants.

May 2018
Barangay elections were held on May 14, 2018.

May 2019
The 2019 Philippine general election was held on May 13, 2019. The winners took office on June 30, 2019, midway through President Rodrigo Duterte's six-year term. The election saw 12 seats in the House of Representatives, as well as all seats at the senate, provincial, city and municipality level contested.

September 2019
In September 2019, Philippines reformed the corporate tax system through the Corporate Income Tax (CIT) and Incentives Rationalization Act (CITIRA), which will reduce CIT from 30% to 20% over a 10 year period as well as introduce specific tax incentives for capital expenditure and labour up-skilling.

Sources: BBC Country Profile – Timeline, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
Nil
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Laos is one of the fastest-growing economies in East Asia and the Pacific, underpinned by improving access to electricity, education and roads, and the implementation of structural reforms aimed at improving the business environment. However, it still lags behind its regional peers. That said, the country’s economic performance will cool somewhat over the medium term as the recent accumulation of public debt places increased pressure on its growth potential. The government is seeking to maintain macroeconomic stability by taking steps to improve domestic revenue collection, control expenditure and strengthen public debt management.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

April 2016
At its five-year congress, the National Assembly appointed Bounnhang Vorachith as president and leader of the ruling Lao People's Revolutionary Party (LPRP), succeeding Choummaly Sayasone who, served as the ruling party's general secretary and president of Laos from 2006 to 2016.

 

September 2016
Former United States President Barack Obama became the first sitting United States president to visit Laos. The United States committed USD90 million dollars over three years to help clear unexploded bombs that the United States dropped on Laos during the Vietnam War.

 

December 2016
The governments of Laos and Mainland China announced the joint construction of a high speed rail line between Mainland China and Thailand to link Laos with the transport hubs in these countries.

 

July 2018
The collapse of a dam in July triggered a pause in the approvals of new hydropower projects and an official review of all existing ones in the country.

 

August 2018
A consultation process (scheduled to last six months) began for the proposed 770MW Pak Lay hydropower project on the Mekong mainstream in Laos. The consultation involved two regional stakeholder forums and a field visit to the Pak Lay project. The power plant was estimated to require a USD2.13 billion investment. Construction is likely to begin in 2022.

 

August 2018
Mainland China Southern Power Grid Co signed a memorandum of understanding with the Government of Laos to carry out a feasibility study to explore the possibilities of developing a national power grid in Laos.

 

December 2018
The Chinese government approved a special fund at the 4th Mekong-Lancang Cooperation Foreign Ministers’ Meeting. The fund would enable Mekong countries to carry out 138 projects, with Laos receiving about USD4.5 million to implement 21 projects.

 

June 2019
New 500kV and 230kV transmission lines would be installed in the capital city, Vientiane, as a joint project between Électricité du Laos and Mainland China Electric Power Equipment and Technology, an affiliate of State Grid Corporation. The project would provide a sustainable supply of electricity for the development of the capital city.

 

June 2019
Mainland China and Thailand announced that it has banned the direct and indirect import of pigs, wild boars and related products from Laos due to the first African swine fever outbreak reported by the country in June.

 

July 2019
Souliyapon Intertrade Co has selected Mainland China Machinery Engineering Co (CMEC) to serve as the general contractor for a 230MWp solar photovoltaic (PV) project in Laos' Borikhamxay Province. Under the USD345 million contract, CMEC will be responsible for the power plant's design, supply, civil engineering, construction, installation, commissioning and other works. The deal is subject to certain conditions. The construction of the facility is expected to be completed over a period of two years.

 

September 2019
Tropical storm Podul and tropical depression Kajiki caused flooding in Laos' southern provinces, which caused more than 580,000 people to be displaced and damaged infrastructure and crops in the region.

 

Sources: BBC Country Profile – Timeline, Mekong River Commission, Vientiane Times, Asia News, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
71,600,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Malaysia is one of the most open markets in the world. Its economy is well diversified and has successfully weathered the impact of external shocks. This has been bolstered by strong macroeconomic management, with low and stable inflation and on-track fiscal consolidation. The financial system remains well-functioning and regulated, boasting a well-capitalised banking system and deep capital markets. An increasingly challenging external environment will reduce opportunities for export-led growth in the short term. However, domestic demand is expected to continue to anchor economic growth, supported by continued income growth and a stable labour market. In the longer term, growth will be driven by rising productivity levels.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

April 2015
The lower house of parliament passed an anti-terrorism bill that allows suspects to be held indefinitely without trial and toughens penalties for sedition.

 

December 2016
Sultan Muhammad V was sworn in as the new king, succeeding Sultan Abdul Halim Mu'adzam Shah.

 

May 2018
An alliance of opposition parties, led by Mahathir Mohamad, won the general election and Mahathir became the prime minister.

 

January 2019
Sultan Abdullah of Pahang was sworn in, succeeding Sultan Muhammad V.

 

July 2019
The Ministry of Transport in Malaysia sanctioned the 29.9km Komtar-Bayan Lepas Light Rail Transit (LRT) project with 30 conditions, after reviewing a detailed project study submitted to the ministry by Penang Economic Planning Unit. The conditions included a Detailed Environmental Impact Assessment for the project and the Penang South Reclamation, a social impact assessment, a heritage impact assessment and traffic impact assessment. The MYR8.4 billion (over USD2 billion) project was part of the MYR46 billion (almost USD11.2 billion) Penang Transport Masterplan.

 

September 2019
Vsolar Group's wholly-owned Solar Interactive had entered a collaboration and alliance agreement with Genbayu Gemilang for the construction of a solar energy generation facility in Negeri Sembilan, Malaysia. The photovoltaic (PV) facility, with an installed capacity of up to 90MW, would be built on a nearly 1.2sq km site owned by Genbayu at Setul in Seremban.

 

Sources: BBC Country Profile – Timeline, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
528,000,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Indonesia is a sovereign archipelago in Southeast Asia and the fourth most populous country after Mainland China, India, and the United States. It has maintained political stability and is one of Asia Pacific's most vibrant middle-income economies. The country's economic planning follows a 20-year development plan (2005 to 2025). It is segmented into five-year medium-term plans called the Rencana Pembangunan Jangka Menengah Nasional, each with different development priorities. The current medium-term development plan – the third phase of the long-term plan – runs from 2015 to 2020. It focuses on infrastructure development and social assistance programmes related to education and healthcare, among other areas. To strengthen the country's economic growth, the government continues to pursue trade agreements with various countries and economic blocs. Indonesia also continues to carry out policy reforms intended to cut red tape and make it easier to conduct business in order to improve the investment climate of the country.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

June 2018
Regional and local elections were held on June 27, 2018 to elect 17 governors, 39 mayors and 115 regents across the country. The elections included gubernatorial elections for Indonesia's four most populous provinces: West Java, East Java, Central Java and North Sumatra.

 

September 2018
A major earthquake and tsunami killed more than 2,000 people on the island of Sulawesi, around the city of Palu.

 

December 2018
The eruption of the Anak Krakatau caused another tsunami, killing more than 420 people and displacing an additional 40,000.

 

April 2019
Parliamentary and presidential elections were held. It was the first time in the country's history that the president, the vice president, members of the People's Representative Council (DPR), members of the People's Consultative Assembly and members of local legislative bodies were elected on the same day. Both candidates, Joko 'Jokowi' Widodo and Prabowo Subianto, promoted a mix of business-friendly, populist and protectionist policies.

 

May 2019
On May 21, 2019, the General Elections Commission declared Joko Widodo victorious in the presidential election, with more than 55% of the vote. Widodo's Indonesian Democratic Party of Struggle finished first in the DPR election, with 19.33% votes, followed by Prabowo's Gerindra with 12.57% and Golkar Party with 12.31% votes.

 

August 2019
The government revealed Borneo as the proposed site for the new capital of the country. Indonesia was seeking to move its capital away from the flood prone city of Jakarta, parts of which had permanently sunk in water due to constant flooding. The new capital was estimated to cost upwards of USD33 billion to build and an Indonesian unit of the management consulting company McKinsey had been appointed to do feasibility studies including exact funding needs and transportation linkages with nearby cities.

 

October 2019
PT Borneo Alumina Indonesia selected a consortium led by Black & Veatch to manage the development of an alumina refinery in West Kalimantan. The facility would feature 1 million tonnes per annum smelter-grade alumina refinery, a coal gasification plant and a coal-fired power plant. Black & Veatch was responsible for design review, equipment inspection, and to provide power and coal gasification subject matter proficiency.

 

Sources: BBC Country Profile – Timeline, The Strait Times, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
Nil
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Myanmar is a low-middle income country, and the economy is supported by abundant natural resources and commodities. Its largest export is natural gas, which provides an important revenue stream. Myanmar is currently in a democratic transition – the government has launched new economic policies, finalised new health and education sector strategies, and adopted new priorities – such as nutrition and rural development. However, there remain some challenges to achieving sustainable and inclusive income growth as well as maintaining stability in the restive regions of the country.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

November 2015
The Opposition National League for Democracy – led by Aung San Suu Kyi – won enough seats in parliament to form a government.

April 2017
Myanmar held scheduled by-elections to fill 19 parliamentary seats.

March 2018
President Htin Kyaw resigned on health grounds and was replaced by Win Myint, a fellow Suu Kyi loyalist.

October 2018
The Japan International Cooperation Agency signed a grant agreement with the government of Myanmar, providing a grant of up to JPY6.03 billion (USD52.96 million) for upgrading Mandalay Port. The project is aimed at developing the port by constructing berthing facilities and a terminal, as well as the mechanisation of cargo handling facilities. The Ministry of Transport and Communications will execute the project.

August 2019
Korea Land and Housing Corporation (LH) signed a memorandum of understanding (MoU) for setting up a joint venture (JV) with the Urban and Housing Development Department and Global Sae-A Co for the construction of an industrial complex in Naypyitaw, Myanmar. Dubbed Korea Myanmar Industrial Complex, the project would be built over 2.24sq km in Nyaungnapin. To be implemented by the JV, the project would entail an investment of KRW130 billion (USD107.4 million). LH and the Myanmar government would hold a 40% interest each in the JV, while the remaining 20% would be held by Global Sae-A. The order for the project design is likely to be placed by the end of 2019, with construction likely to start in 2020.

November 2019
Groundbreaking of Toyota Myanmar Co took place on its new plant at the Thilawa Special Economic Zone in Yangon, Myanmar. The USD52.6 million manufacturing facility will manufacture 2,500 Toyota Hilux pickup trucks annually using the semi knock-down method. The facility is expected to be commissioned in August 2020, with production to start from February 2021.

November 2020
General elections will be held.

Sources: BBC Country Profile – Timeline, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
147,900,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Myanmar is a low-middle income country, and the economy is supported by abundant natural resources and commodities. Its largest export is natural gas, which provides an important revenue stream. Myanmar is currently in a democratic transition – the government has launched new economic policies, finalised new health and education sector strategies, and adopted new priorities – such as nutrition and rural development. However, there remain some challenges to achieving sustainable and inclusive income growth as well as maintaining stability in the restive regions of the country.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

November 2015
The Opposition National League for Democracy – led by Aung San Suu Kyi – won enough seats in parliament to form a government.

April 2017
Myanmar held scheduled by-elections to fill 19 parliamentary seats.

March 2018
President Htin Kyaw resigned on health grounds and was replaced by Win Myint, a fellow Suu Kyi loyalist.

October 2018
The Japan International Cooperation Agency signed a grant agreement with the government of Myanmar, providing a grant of up to JPY6.03 billion (USD52.96 million) for upgrading Mandalay Port. The project is aimed at developing the port by constructing berthing facilities and a terminal, as well as the mechanisation of cargo handling facilities. The Ministry of Transport and Communications will execute the project.

August 2019
Korea Land and Housing Corporation (LH) signed a memorandum of understanding (MoU) for setting up a joint venture (JV) with the Urban and Housing Development Department and Global Sae-A Co for the construction of an industrial complex in Naypyitaw, Myanmar. Dubbed Korea Myanmar Industrial Complex, the project would be built over 2.24sq km in Nyaungnapin. To be implemented by the JV, the project would entail an investment of KRW130 billion (USD107.4 million). LH and the Myanmar government would hold a 40% interest each in the JV, while the remaining 20% would be held by Global Sae-A. The order for the project design is likely to be placed by the end of 2019, with construction likely to start in 2020.

November 2019
Groundbreaking of Toyota Myanmar Co took place on its new plant at the Thilawa Special Economic Zone in Yangon, Myanmar. The USD52.6 million manufacturing facility will manufacture 2,500 Toyota Hilux pickup trucks annually using the semi knock-down method. The facility is expected to be commissioned in August 2020, with production to start from February 2021.

November 2020
General elections will be held.

Sources: BBC Country Profile – Timeline, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
987,900,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Laos is one of the fastest-growing economies in East Asia and the Pacific, underpinned by improving access to electricity, education and roads, and the implementation of structural reforms aimed at improving the business environment. However, it still lags behind its regional peers. That said, the country’s economic performance will cool somewhat over the medium term as the recent accumulation of public debt places increased pressure on its growth potential. The government is seeking to maintain macroeconomic stability by taking steps to improve domestic revenue collection, control expenditure and strengthen public debt management.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

April 2016
At its five-year congress, the National Assembly appointed Bounnhang Vorachith as president and leader of the ruling Lao People's Revolutionary Party (LPRP), succeeding Choummaly Sayasone who, served as the ruling party's general secretary and president of Laos from 2006 to 2016.

 

September 2016
Former United States President Barack Obama became the first sitting United States president to visit Laos. The United States committed USD90 million dollars over three years to help clear unexploded bombs that the United States dropped on Laos during the Vietnam War.

 

December 2016
The governments of Laos and Mainland China announced the joint construction of a high speed rail line between Mainland China and Thailand to link Laos with the transport hubs in these countries.

 

July 2018
The collapse of a dam in July triggered a pause in the approvals of new hydropower projects and an official review of all existing ones in the country.

 

August 2018
A consultation process (scheduled to last six months) began for the proposed 770MW Pak Lay hydropower project on the Mekong mainstream in Laos. The consultation involved two regional stakeholder forums and a field visit to the Pak Lay project. The power plant was estimated to require a USD2.13 billion investment. Construction is likely to begin in 2022.

 

August 2018
Mainland China Southern Power Grid Co signed a memorandum of understanding with the Government of Laos to carry out a feasibility study to explore the possibilities of developing a national power grid in Laos.

 

December 2018
The Chinese government approved a special fund at the 4th Mekong-Lancang Cooperation Foreign Ministers’ Meeting. The fund would enable Mekong countries to carry out 138 projects, with Laos receiving about USD4.5 million to implement 21 projects.

 

June 2019
New 500kV and 230kV transmission lines would be installed in the capital city, Vientiane, as a joint project between Électricité du Laos and Mainland China Electric Power Equipment and Technology, an affiliate of State Grid Corporation. The project would provide a sustainable supply of electricity for the development of the capital city.

 

June 2019
Mainland China and Thailand announced that it has banned the direct and indirect import of pigs, wild boars and related products from Laos due to the first African swine fever outbreak reported by the country in June.

 

July 2019
Souliyapon Intertrade Co has selected Mainland China Machinery Engineering Co (CMEC) to serve as the general contractor for a 230MWp solar photovoltaic (PV) project in Laos' Borikhamxay Province. Under the USD345 million contract, CMEC will be responsible for the power plant's design, supply, civil engineering, construction, installation, commissioning and other works. The deal is subject to certain conditions. The construction of the facility is expected to be completed over a period of two years.

 

September 2019
Tropical storm Podul and tropical depression Kajiki caused flooding in Laos' southern provinces, which caused more than 580,000 people to be displaced and damaged infrastructure and crops in the region.

 

Sources: BBC Country Profile – Timeline, Mekong River Commission, Vientiane Times, Asia News, Fitch Solutions

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Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
Nil
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Laos is one of the fastest-growing economies in East Asia and the Pacific, underpinned by improving access to electricity, education and roads, and the implementation of structural reforms aimed at improving the business environment. However, it still lags behind its regional peers. That said, the country’s economic performance will cool somewhat over the medium term as the recent accumulation of public debt places increased pressure on its growth potential. The government is seeking to maintain macroeconomic stability by taking steps to improve domestic revenue collection, control expenditure and strengthen public debt management.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

April 2016
At its five-year congress, the National Assembly appointed Bounnhang Vorachith as president and leader of the ruling Lao People's Revolutionary Party (LPRP), succeeding Choummaly Sayasone who, served as the ruling party's general secretary and president of Laos from 2006 to 2016.

 

September 2016
Former United States President Barack Obama became the first sitting United States president to visit Laos. The United States committed USD90 million dollars over three years to help clear unexploded bombs that the United States dropped on Laos during the Vietnam War.

 

December 2016
The governments of Laos and Mainland China announced the joint construction of a high speed rail line between Mainland China and Thailand to link Laos with the transport hubs in these countries.

 

July 2018
The collapse of a dam in July triggered a pause in the approvals of new hydropower projects and an official review of all existing ones in the country.

 

August 2018
A consultation process (scheduled to last six months) began for the proposed 770MW Pak Lay hydropower project on the Mekong mainstream in Laos. The consultation involved two regional stakeholder forums and a field visit to the Pak Lay project. The power plant was estimated to require a USD2.13 billion investment. Construction is likely to begin in 2022.

 

August 2018
Mainland China Southern Power Grid Co signed a memorandum of understanding with the Government of Laos to carry out a feasibility study to explore the possibilities of developing a national power grid in Laos.

 

December 2018
The Chinese government approved a special fund at the 4th Mekong-Lancang Cooperation Foreign Ministers’ Meeting. The fund would enable Mekong countries to carry out 138 projects, with Laos receiving about USD4.5 million to implement 21 projects.

 

June 2019
New 500kV and 230kV transmission lines would be installed in the capital city, Vientiane, as a joint project between Électricité du Laos and Mainland China Electric Power Equipment and Technology, an affiliate of State Grid Corporation. The project would provide a sustainable supply of electricity for the development of the capital city.

 

June 2019
Mainland China and Thailand announced that it has banned the direct and indirect import of pigs, wild boars and related products from Laos due to the first African swine fever outbreak reported by the country in June.

 

July 2019
Souliyapon Intertrade Co has selected Mainland China Machinery Engineering Co (CMEC) to serve as the general contractor for a 230MWp solar photovoltaic (PV) project in Laos' Borikhamxay Province. Under the USD345 million contract, CMEC will be responsible for the power plant's design, supply, civil engineering, construction, installation, commissioning and other works. The deal is subject to certain conditions. The construction of the facility is expected to be completed over a period of two years.

 

September 2019
Tropical storm Podul and tropical depression Kajiki caused flooding in Laos' southern provinces, which caused more than 580,000 people to be displaced and damaged infrastructure and crops in the region.

 

Sources: BBC Country Profile – Timeline, Mekong River Commission, Vientiane Times, Asia News, Fitch Solutions

Has been added to favorites Has been removed from favorites

Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure
Project Stage
Nil
Financing Model
Nil
Total Project Value(USD)
Nil
Capital Required(USD)
104,170,000
About this project
Region(s)
Project Sector(s)
Format of Cooperation(s)
About this project

Overview

Malaysia is one of the most open markets in the world. Its economy is well diversified and has successfully weathered the impact of external shocks. This has been bolstered by strong macroeconomic management, with low and stable inflation and on-track fiscal consolidation. The financial system remains well-functioning and regulated, boasting a well-capitalised banking system and deep capital markets. An increasingly challenging external environment will reduce opportunities for export-led growth in the short term. However, domestic demand is expected to continue to anchor economic growth, supported by continued income growth and a stable labour market. In the longer term, growth will be driven by rising productivity levels.

Sources: World Bank, Fitch Solutions

 

Major Economic/Political Events and Upcoming Elections

April 2015
The lower house of parliament passed an anti-terrorism bill that allows suspects to be held indefinitely without trial and toughens penalties for sedition.

 

December 2016
Sultan Muhammad V was sworn in as the new king, succeeding Sultan Abdul Halim Mu'adzam Shah.

 

May 2018
An alliance of opposition parties, led by Mahathir Mohamad, won the general election and Mahathir became the prime minister.

 

January 2019
Sultan Abdullah of Pahang was sworn in, succeeding Sultan Muhammad V.

 

July 2019
The Ministry of Transport in Malaysia sanctioned the 29.9km Komtar-Bayan Lepas Light Rail Transit (LRT) project with 30 conditions, after reviewing a detailed project study submitted to the ministry by Penang Economic Planning Unit. The conditions included a Detailed Environmental Impact Assessment for the project and the Penang South Reclamation, a social impact assessment, a heritage impact assessment and traffic impact assessment. The MYR8.4 billion (over USD2 billion) project was part of the MYR46 billion (almost USD11.2 billion) Penang Transport Masterplan.

 

September 2019
Vsolar Group's wholly-owned Solar Interactive had entered a collaboration and alliance agreement with Genbayu Gemilang for the construction of a solar energy generation facility in Negeri Sembilan, Malaysia. The photovoltaic (PV) facility, with an installed capacity of up to 90MW, would be built on a nearly 1.2sq km site owned by Genbayu at Setul in Seremban.

 

Sources: BBC Country Profile – Timeline, Fitch Solutions

Has been added to favorites Has been removed from favorites

Disclaimer

  1. The information submitted will not be independently verified by the Hong Kong Trade Development Council (HKTDC). HKTDC does not take responsibility for such information and endorse the accuracy, adequacy, completeness, timeliness, reasonableness or any other aspects of the information submitted.
  2. To the fullest extent permitted by law, HKTDC shall not be liable for any and all liability arising out of including without limitation any inaccuracies, incompleteness, errors in, or omissions from, the information submitted nor any representations or misrepresentations contained therein. In no event will HKTDC be liable for any claim, or any direct, indirect, special, incidental or consequential damages, losses or expenses asserted by any third party due to or arising from or in connection with any use or reliance of such information on the Belt and Road Portal website even if they are made or should be aware of the same.
  3. HKTDC may, in their sole discretion and at any time, without prior notice to you and without cause, remove, delete, delist, make or adopt any changes, modifications or amendments to, or correct any error or omission to any information contained in and data linked to your profile on the Belt and Road Portal website and Belt and Road Portal-related publications. HKTDC shall not be liable for any loss of data, removal of information, or for any claim, or any direct, indirect, special, incidental, or consequential damages of any kind (including lost profits) resulting from the removal of your profile or other content of the profile from the Belt and Road Portal website and Belt and Road Portal-related publications.
  4. In the event of any inconsistency between the English and Chinese versions, the English version shall prevail.
Who can help you in this project?
Acuris
NFC Touch Limited
Fujitsu Business Technologies Asia Pacific Limited
Cherrypicks
BEGHELLI ASIA PACIFIC LTD
Arwin Technology Limited
Actywell Digital Limited
Joy Aether Limited
More on this...
Mainland China / Southeast Asia
Transport and Logistics
Southeast Asia / Mainland China
Transport and Logistics
Southeast Asia / Mainland China
Infrastructure
Southeast Asia / Mainland China
Infrastructure
Mainland China / Southeast Asia
Infrastructure