Stories about books and articles. Thoughts on Asia, South Korea and Southeast Asia in particular
Friday, December 29, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(44)
Wednesday, December 27, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(43)
Friday, December 22, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(42)
Wednesday, December 20, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(41)
Monday, December 18, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(40)
Friday, December 15, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(39)
Wednesday, December 13, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(38)
Monday, December 11, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(37)
Friday, December 8, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(36)
Wednesday, December 6, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(35)
Comparative Study on the Perception and Response of Singapore and Indonesia
In 2007 Indonesia introduced a new investment law aimed at making Indonesia more attractive to foreign investors. Indonesia is one of the few countries in the ASEAN that has promulgated a competition law and has established an independent agency in charge of competition policy – the Commission for the Supervision of Business Competition.
Larger firms tend to have better knowledge about the existing FTAs and, in general, are more optimistic than smaller ones. This is true also with regard to the AEC.
Monday, December 4, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(34)
Friday, December 1, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(33)
Comparative Study on the Perception and Response of Singapore and Indonesia
To its credit the Indonesian Government has taken the necessary steps to incorporate its commitments to the AEC into the country's national economic development programs.
With regard to its commitments to the AEC, there is, unfortunately, no simple way to verify the degree of the Indonesian Government's compliance. Ever since Indonesia initiated trade liberalization in the mid-1980s, it has significantly reduced tariff rates, more or less across the board.
Wednesday, November 29, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(32)
Thursday, November 23, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(31)
Sunday, November 19, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(30)
Wednesday, November 15, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(29)
Comparative Study on the Perception and Response of Singapore and Indonesia
While it fully supports efforts taken to accelerate internal integration towards AEC 2015, the ASEAN needs to deepen its engagement with key trading partners in parallel.
It is significant that SMEs tend to be in the more optimistic category in relation to regional integration. SME leaders in Singapore have urged fellow companies to expand within the region and to seriously consider investing in ASEAN neighbors for the many benefits that an integrated ASEAN economic community can bring.
Monday, November 13, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(28)
Comparative Study on the Perception and Response of Singapore and Indonesia
Singapore believes that a strong and competitive ASEAN is important in the face of growing challenges posed, not just to the Southeast Asian economy, but the global economy.
Thus, while Singapore acknowledges that some problems are faced by the ASEAN countries in implementing the AEC Blueprint, there is an urgent need to persevere in order for the region to remain competitive and relevant to the global economy.
Thursday, November 9, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(27)
Comparative Study on the Perception and Response of Singapore and Indonesia
According to the papers by Juliana Giam (p. 280-281.) and Ong Keng Yong (p. 132-133.), Singapore's major perception of and response to the formation of the AEC can be summarized as below:
Singapore remains committed and continues to work closely with the other ASEAN countries to achieve the goals of the AEC as set out in the AEC blueprint. According to the latest AEC Scorecard, Singapore has registered more than 93 percent implementation of the requirements in the AEC Blueprint for the period 2008 to 2009.
Tuesday, November 7, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(26)
Friday, November 3, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(25)
Comparative Study on the Perception and Response of Singapore and Indonesia
In other words, the perception of and response to the formation of the AEC in Singapore and Indonesia are intensively discovered in the papers. Accordingly, perspectives of Singapore and Indonesia can be drawn out respectively.
The 4 papers are 'Deadline 2015: Assessing Indonesia's Progress towards the AEC' by Hadi Soesastro and Raymond Atje, 'Role of the Singapore Private Sector in ASEAN Economic Integration' by Juliana Giam, ASEAN Economic Integration: Perspectives from Singapore' by Ong Keng Yong and 'Perspective of the Indonesian Business Sector on the Regional Integration Process' by Widdi Mugijayani and Pratiwi Kartika.
Wednesday, November 1, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(24)
Monday, October 30, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(23)
Thursday, October 26, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(22)
Comparative Study on the Perception and Response of Singapore and Indonesia
Founded as an electrical supplies and water pipe fitter in 1960, WIKA in Indonesia has been transformed into a holding company in construction, engineering procurement construction and investment, with 10 subsidiaries. WIKA has moved into distinct sectors, among them industry, infrastructure and building, energy and industrial plant construction, realty and property, as well as investment.
After successfully participating in the development of infrastructure and construction projects in Indonesia, WIKA is expecting to expand in ASEAN and beyond. WIKA has expanded into Sarawak in Malaysia and East Timor. As a state owned company, WIKA is a keen supporter of the AEC.
Monday, October 23, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(21)
Friday, October 20, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(20)
Wednesday, October 18, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(19)
Monday, October 16, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(18)
Friday, October 13, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(17)
Comparative Study on the Perception and Response of Singapore and Indonesia
For example, in spite of the recent economic boost, CLMV countries (Cambodia, Laos, Myanmar and Vietnam) are estimated to possess only around 5% share of the overall ASEAN GDP (Growth Domestic Product).
In this regard, this paper primarily concentrates on two countries. They are Singapore and Indonesia in the maritime Southeast Asia. The two countries shouldn't be thought lightly of in any economic point of view in the region.
Wednesday, October 11, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(16)
Friday, October 6, 2023
Advent of the Era of the AEC and Its Impact on Singapore and Indonesia(15)
Comparative Study on the Perception and Response of Singapore and Indonesia
The goals of the AEC go with the interrelated four pillars upon which the AEC Blueprint is based. They are a single market and production base, a highly competitive economic region, a region of equitable economic development and a region fully integrated into the global economy.
The graph below explains key milestones of the AEC and four pillars of the AEC. And a step further from the inauguration of the AEC, AEC Blueprint 2025 guiding the strategic direction of the regional economic integration for the next 10 years was additionally adopted at the 27th ASEAN Summit in November 2015.