Information

1. China， Laos jointly promote the cause of socialism： Senior diplomat Wang Yi

Apr. 18， 2023 （CGTN） — The successful development of China and Laos is the success of the socialist cause as China and Laos are both socialist countries under the leadership of their respective communist parties， and share the same ideals， beliefs and pursuits， Wang Yi， director of the Office of the Foreign Affairs Commission of the CPC Central Committee， told Lao Deputy Prime Minister and Minister of Foreign Affairs Saleumxay Kommasith on April 18. Saleumxay said Laos is ready to strengthen cooperation with China in various fields， jointly build a high-quality Belt and Road， construct a Laos-China community with a shared future， and promote the development of the cause of socialism.

2. Chinas reopening to give big boost to Cambodias tourism， growth

Apr. 05， 2023 （Xinhua）— Chinas optimization of its anti-COVID-19 strategy and resumption of its outbound group tours earlier this year will give a big boost to Cambodias tourism and economy， the Asian Development Bank （ADB） said on April 4. Cambodias economy is forecast to grow 5.5 percent in 2023 and 6 percent in 2024 on a more robust tourism recovery and higher growth in the service sector， the lender said in its outlook report. The report also said service growth will continue to be driven by ongoing tourism recovery， saying that growth in services is forecast to accelerate to 7.3 percent in 2023 before easing to 6.8 percent in 2024.

3. 3rd China Intl Consumer Products Expo attracts enterprises of RCEP member countries

Apr. 13 2023 （China Daily）— The third China International Consumer Products Expo （CICPE） held in the southern province of Hainan has seen active participation from enterprises of the RCEP member countries， such as Japan， South Korea， Australia， and Thailand. The enterprises come from important consumer sectors like fragrances and flavors， cosmetics， food， and health products. By attending the expo， enterprises of RCEP member countries not only have the opportunity to enhance their brand image， but also to take advantage of the expos spillover effects and Hainans tax exemption policies to enter the vast Chinese consumer market.

4. Indonesias central bank holds its benchmark interest rate at 5.75 pct

Apr. 18， 2023 （Xinhua）— Bank Indonesia （BI） on April 18 decided to hold the benchmark interest rate unchanged at 5.75 percent after a two-day meeting of the Board of Governors. Bank Indonesia believes that the BI 7-Day Reverse Repo Rate （BI7DRRR） of 5.75 percent is sufficient to direct core inflation under control in the range of 2 to 4 percent in the remainder of 2023. The target is in sight as the country's inflation continues to decline. The inflation rate dropped to 4.97 percent year-on-year in March from 5.47 percent year-on-year in February. Governor of BI Perry Warjiyo said that this decision was part of the forward-looking monetary policy to secure the future fall in inflation.

5. Malaysias exports contract 1.4 pct in March

Apr. 19， 2023 （Xinhua）— Malaysias exports contracted 1.4 percent year on year to 129.71 billion ringgit （about 29.2 billion U.S. dollars） in March， official data showed on April 19. The Ministry of International Trade and Industry （MITI） said in a statement that the export of manufactured goods， which constituted 84 percent of total exports， saw a marginal decrease by 0.4 percent year on year， as a result of a lower export of electrical and electronic （E&E） products， rubber products and wood products. Trade for the month declined by 1.6 percent to 232.72 billion ringgit， with imports falling 1.8 percent to 103.01 billion ringgit.

6. China-Laos Railway opens up SE. Asia

Apr. 20， 2023 （China Daily）— The China-Laos Railway has seen a significant increase in freight transportation this year， becoming an important logistics corridor between China and Southeast Asia. The cross-border railway has operated for 502 days and during that time it handled 18.8 million metric tons of cargo， the railways operators China Railway Kunming Group and Laos-China Railway Company， said on April 19. The railways Chinese section has handled 14.6 million tons of cargo and Laos section has handled 4.21 million tons. Some 3.7 million tons have been cross-border cargo. Many Chinese cities have started operating cross-border trains along the China-Laos Railway and their products have been extended to countries in Southeast Asia such as Laos， Thailand and Singapore.

7. Thailands durian export to China facilitated by China-Laos Railway

Apr. 20， 2023 （Xinhua） — A “fruit train” carrying 23 containers of durian and mangosteen arrived in Kunming on April 20， as Thai exporters increasingly turn to the China-Laos Railway for quick access to the Chinese market. Currently， goods can reach Kunming in three days after being hauled by the China-Laos Railway from Thailand， where more mature durians will be exported. The more mature the durian， the better the taste. Fast and punctual railway transportation not only guarantees the quality of the durians but also reduces the companys operating costs. Railway transport can also be consolidated in a flexible manner， making it suitable for small and medium-sized enterprises （SMEs） in both Thailand and China.

8. Vietnam looks into measures to attract foreign investors as global minimum tax sets in

Apr. 20， 2023 （Xinhua） — Vietnam is finding ways to maintain the competitiveness of its investment environment amid concerns that the country would lose its edge as a tax-friendly place when global minimum corporate tax rules take effect， Vietnam News reported on April 20. More than 140 countries and territories have signed on to a cross-border tax plan which would allow governments to apply a top-up tax to the minimum of 15 percent on profits that a company has recorded in a foreign country with a lower tax rate. Vietnams corporate income tax is set at 20 percent but the government also offers various deductions， exceptions and tax breaks to lure foreign investors.