S Jaishankar Expresses Concerns Over Situation In South China Sea

In an address at the 15th East Asia Summit (EAS), External Affairs Minister S Jaishankar also talked about the Indo-Pacific and noted the growing interest in the region as an integrated and organic maritime space with 10-nation ASEAN at its centre.

All IndiaPress Trust of IndiaUpdated: November 15, 2020 5:30 pm ISTby TaboolaSponsored LinksSponsoredPeople in An Phu Tan Are Choosing to Donate Meals Like This (Akshaya Patra)Cuộc chiến Thương mại Mới. Đi trước thị trường. Mở tài khoản ngay hôm nay. (IC Markets)

S Jaishankar Expresses Concerns Over Situation In South China Sea

India expressed concern over “actions and incidents” that “erode” trust in the South China Sea.

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Asia-Pacific leaders voice concern over S. China Sea amid tensions

PUBLISHED : 15 NOV 2020 AT 05:43

WRITER: KYODO NEWS , BANGKOK POST

Vietnam's Communist Party General Secretary and President Nguyen Phu Trong (centre) walks past flags of the Asean member countries before opening the 37th Asean in Hanoi on Thursday. It was followed by other related meetings, including the East Asia Summit on Saturday. (Reuters photo)

Vietnam’s Communist Party General Secretary and President Nguyen Phu Trong (centre) walks past flags of the Asean member countries before opening the 37th Asean in Hanoi on Thursday. It was followed by other related meetings, including the East Asia Summit on Saturday. (Reuters photo)

Asia-Pacific leaders voiced concern over the situation in the resource-rich South China Sea at a regional summit on Saturday, a Japanese government official said, as security tensions between the United States and China have shown no sign of easing.

Tiếp tục đọc “Asia-Pacific leaders voice concern over S. China Sea amid tensions”

Chinese Long-Range Ballistic Missiles Struck Moving Ship In South China Sea: Report

The test could represent the first full demonstration of a real Chinese long-range anti-ship ballistic missile capability.

BYJOSEPH TREVITHICKNOVEMBER 16, 2020

At least some of the ballistic missiles that China’s People’s Liberation Army fired into the South China Sea during an exercise earlier this year, which you can read about more in the War Zone‘s initial story on those drills, reportedly hit a moving target ship. If true, this would be the country’s first known demonstration of an actual long-range anti-ship ballistic missile capability, which could significantly change the operational calculus for any potential opponent, including the United States, in the disputed maritime region and elsewhere in the Pacific.

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Vietnam prosperity ranking jumps 12 places

By Nguyen Quy   November 17, 2020 | 07:58 am GMT+7 vnexpressVietnam prosperity ranking jumps 12 placesWomen practice aerobics to beats coming off a smartphone at a Covid-19 quarantine camp in Lao Cai Province, northern Vietnam, February 17, 2020. Photo by VnExpress/Giang Huy.

Vietnam has moved up 12 places to 73rd out of 167 economies in a global prosperity ranking, ahead of several Asian peers.

With an overall score of 58.3 points, Vietnam ranked 13th out of 29 economies in the Asia-Pacific region, according to the Prosperity Index 2020 published Monday by London-based think tank Legatum Institute.

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Turning an eagle eye on Vietnam’s attraction for the ‘eagles’

By Le Thi Ly   November 17, 2020 | 07:59 am GMT+7 vnexpress

TĐH: Dear readers, for the sake of Vietnamese workers, please kindly promote this article far and wide. Thank you very much.

I am not an expert. Most certainly, I am not an economist. I just speak from the experience of being an ordinary, unskilled worker.
Le Thi Ly
Le Thi Ly

Until a few years ago, as college students, my friend and I typically spent summer vacations as factory workers to earn some money and help parents pay our tuition fees.

Honestly, those three months felt like three centuries.

Tiếp tục đọc “Turning an eagle eye on Vietnam’s attraction for the ‘eagles’”

Lowering taxes to attract FDI is a ‘race to the bottom’: experts

TĐH: There are many intangible benefits from foreign direct investments (FDI) – employment and jobs for the local population, increased education, increased professional skills, better law enforcement and legal process, better working and living conditions in general for the locality… Not just taxes. Tax is a small part of the benefit package. If we need to lower/exempt taxes to compete, then let’s do that to compete. If the entire gang of Asia or Southeast Asia countries agree not to use taxes to compete, then that is “an agreement not to compete,” in a national scene that would constitute a violation of antitrust (anti-competition) law, harmful to consumers and to the economy. The economic principle should not be different in the international scene. (But of course, we need to compete both in business environment and in financial benefits such as taxation and land lease).

By Dat Nguyen, Quynh Trang   November 16, 2020 | 08:07 am GMT+7 vietnamnetLowering taxes to attract FDI is a ‘race to the bottom’: expertsWorkers seen in a foreign-invested air conditioner manufacturing plant in the northern province of Hung Yen in December 2019. Photo by VnExpress/Vien Thong.

Competing for foreign investment with tax incentives will end up hitting governments’ revenues and be a lose-lose situation for all ASEAN members, experts warn.

The average corporate income tax rate in Southeast Asia has fallen from 25.1 percent in 2010 to 21.7 percent this year, showing that countries are competing with one another in a “race to the bottom” by offering aggressive tax incentives to foreign multinationals, a recent report by Oxfam, a global organization working on poverty alleviation, and its partners said.

Tiếp tục đọc “Lowering taxes to attract FDI is a ‘race to the bottom’: experts”

Triple amendments strike sparks in M&A

17/11/2020    06:15 GMT+7 vietnamnet

Mergers and acquisitions in Vietnam are forecast to change from the beginning of next year, when three amended laws will come into effect at the same time.

 Deputy Director of the Central Institute of Economic Management Phan Duc Hieu, spoke with VIR’s Khanh An about impact of the laws on enterprises, investment, and securities on the M&A market.

Deputy Director of the Central Institute of Economic Management Phan Duc Hieu.

How do you estimate the impact of the amended laws on enterprises, investment, and securities on capital contributions and share purchases activities? 

Tiếp tục đọc “Triple amendments strike sparks in M&A”

Wind power: Ministry wants to extend FIT policy

17/11/2020    07:00 GMT+7 vietnamnet

Following a proposal by 10 provinces, the Ministry of Investment and Trade (MOIT) wants to extend the deadline for FIT (Feed in Tariff) application because many wind power projects cannot become operational prior to the given date.

MOIT is consulting with relevant ministries and branches on its draft report to the Prime Minister on solutions to settle the problems of wind power projects.

Wind power: Ministry wants to extend FIT policy

On September 10, 2018, the Prime Minister released Decision 39 on wind power prices (not including VAT). EVN buys electricity from in-land wind power projects at VND1,927 per kwh (8.5 US cent), while the price of VND2.223 per kwn (9.8 cent) is applied to offshore wind power projects.

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Japan and Australia seek to align on defence as China’s regional influence grows

Japanese PM Suga speaks to the media during a press conference in Jakarta

FILE PHOTO: Japanese Prime Minister Yoshihide Suga speaks to the media during a press conference in Jakarta, Indonesia, Oct 21, 2020. (Photo: Dita Alangkara/Pool via REUTERS)

16 Nov 2020 03:31PM CNA

TOKYO: Japanese Prime Minister Yoshihide Suga and his Australian counterpart, Scott Morrison, may agree a historic defence pact on Tuesday (Nov 17) that will closely align two key US allies in Asia as a counter to China’s growing influence in the region.

Tiếp tục đọc “Japan and Australia seek to align on defence as China’s regional influence grows”

Taiwan talks up trans-Pacific trade pact after exclusion from RCEP

An audience waves Taiwanese flags during the National Day celebrations in Taipei
People wave Taiwanese flags during the National Day celebrations in Taipei, Taiwan, on Oct 10, 2018. (Photo: Reuters/Tyrone Siu)

16 Nov 2020 12:03PM(Updated: 16 Nov 2020 12:10PM) CNA

TAIPEI: Trade-dependent Taiwan has made “relatively” good progress towards joining the revamped version of the Trans-Pacific Partnership, but it is awaiting clearer rules on membership, the island’s chief trade negotiator said on Monday (Nov 16).

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Kissinger Warns Biden of U.S.-China Catastrophe on Scale of WWI

Peter Martin November 16, 2020, 9:38 PM GMT+7 Bloomberg

  •  World could slide into catastrophe like World War I: Kissinger
  •  Says Biden, Xi should agree not to resort to military conflict

Former U.S. Secretary of State Henry Kissinger said the incoming Biden administration should move quickly to restore lines of communication with China that frayed during the Trump years or risk a crisis that could escalate into military conflict.

“Unless there is some basis for some cooperative action, the world will slide into a catastrophe comparable to World War I,” Kissinger said during the opening session of the Bloomberg New Economy Forum. He said military technologies available today would make such a crisis “even more difficult to control” than those of earlier eras.

“America and China are now drifting increasingly toward confrontation, and they’re conducting their diplomacy in a confrontational way,” the 97-year-old Kissinger said in an interview with Bloomberg News Editor-in-Chief John Micklethwait. “The danger is that some crisis will occur that will go beyond rhetoric into actual military conflict.”

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Too little, too late? Britain introduces rules to protect tech firms from overseas takeovers

TECH

PUBLISHED FRI, NOV 13 202010:19 AM EST UPDATED FRI, NOV 13 202012:10 PM ESTSam Shead@SAM_L_SHEAD CNBC

KEY POINTS

  • The U.K. government has rolled out new rules to protect Britain’s innovative companies from being snapped up by other nations.
  • But is it too little, too late? Arm was sold to Japan’s SoftBank in 2016 and DeepMind was sold to Google in 2014.
  • Even though DeepMind and Arm are no longer British in some people’s eyes, there are a number of other fast-growing tech companies that very much are.
Britain's Prime Minister Boris Johnson giving a statement in Downing Street in central London on April 27, 2020 after returning to work following more than three weeks off after being hospitalized with the Covid-19 illness.

Britain’s Prime Minister Boris Johnson giving a statement in Downing Street in central London on April 27, 2020 after returning to work following more than three weeks off after being hospitalized with the Covid-19 illness.DANIEL LEAL-OLIVAS

LONDON – The U.K. government introduced new rules this week that are designed to protect Britain’s best and brightest companies from being gobbled up by other, potentially hostile, nations.

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Government formally approves Long Thanh international airport

vietnamnet 16/11/2020    15:48 GMT+7

Deputy Prime Minister Trinh Dinh Dung has approved the first phase of the Long Thanh International Airport in the southern province of Dong Nai.

A rendering of the proposed Long Thanh International Airport in the southern province of Dong Nai. – Photo courtesy of Airports Corporation of Vietnam 

The project has four component projects such as headquarters of State management agencies, flight management services, essential airport facilities, and other works.

Major works such as airport buildings, the aircraft apron, passenger terminals, and cargo terminals will be built by the Airport Corporation of Vietnam (ACV), which operates 21 airports across the country.

ACV has to raise funding for the construction.

The first phase of the airport, expected to cost more than US$4.6 billion, is projected to be completed by 2025.

The investment was approved by the National Assembly in 2017, which also issued a resolution on compensation and resettlement of and support for affected individuals and organisations.

Prime Minister Nguyen Xuan Phuc urged Dong Nai Province authorities to hand over the required lands in October so that construction of the airport could begin early next year.

He also set a deadline for assessing cleared land for compensation purposes by the end of this month.

The Ministry of Transport should work closely with the province to promptly resolve all challenges to ensure the project remains on schedule, he said.

The airport work requires more than 5,000ha of land and more than 364ha elsewhere to build two resettlement sites.

Around 4,800 households and 26 organisations are expected to be relocated to make way for it. 

Spread over a total area of more than 5,580ha, the airport will straddle six communes in Long Thanh District. It is expected to cost VNĐ336.63 trillion ($14.47 billion), with the construction divided into three phases. 

In the first phase one runway with a length of 4,000m, taxiways, an apron, and a passenger terminal with other auxiliary works involving a total floor area of ​​373,000 sq.m will be built to serve 25 million passengers and 1.2 million tonnes of cargo each year. 

The airport is expected to have four runways, four passenger terminals and other auxiliary works to ensure a capacity of 100 million passengers and 5 million tonnes of cargo a year by 2040. 

Tan Son Nhat International Airport in HCM City, the country’s largest, has been seriously overloaded for years, both in the air and on the ground.

The Ministry of Transport said Long Thanh International Airport is a key national project that would have a significant impact on the southern key economic region.  VNS

Long Thanh Airport: investment rate high, ACV may lack money

The Ministry of Finance (MOF) has warned about problems with the Long Thanh International Airport project, ….

Long Thanh Airport project awaits disbursement of funds

The government’s report to the National Assembly on the implementation of the Long Thanh International ….

Asia forms world’s biggest trade bloc, a China-backed group excluding U.S.

REUTERS HANOI, NOVEMBER 15, 2020 12:20 IST UPDATED: NOVEMBER 15, 2020 12:20

The Hindu

Vietnam’s Prime Minister Nguyen Xuan Phuc (L) sits next to Minister of Industry and Trade Tran Tuan Anh as they watch a screen showing Chinese Minister of Commerce Zhong Shan (R) signing next to Chinese Premier Li Keqiang during the virtual signing ceremony of the Regional Comprehensive Economic Partnership (RCEP) Agreement during the 37th ASEAN Summit in Hanoi, Vietnam November 15, 2020.   | Photo Credit: Reuters

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South China Sea: will Joe Biden take a more cautious approach in the disputed waters?

Laura Zhou

Laura Zhou in Beijing

Published: 6:00pm, 14 Nov, 2020 SCMP

A Sea Hawk helicopter lifts off from the American aircraft carrier USS Ronald Reagan during an exercise in the South China Sea in July. Photo: Reuters

A Sea Hawk helicopter lifts off from the American aircraft carrier USS Ronald Reagan during an exercise in the South China Sea in July. Photo: Reuters

The United States is expected to take a more contained approach to the South China Sea under Joe Biden, but the disputed waters will remain a potential hotspot in the relationship between Beijing and Washington, observers say.“I think he [Biden] will take a different approach to [US President Donald] Trump,” said Wu Shicun, head of the National Institute of South China Sea Studies, which advises the government.“He is likely to pay more attention to the South China Sea but his policies will be more balanced and more contained.”

One possible change is a reduction in the number of freedom of navigation operations conducted by the US Navy in the sea, Wu said.https://www.youtube.com/embed/BcMR2ZCcheI

The patrols have been a regular feature of US military operations since Barack Obama was in the White House but became more frequent under Trump, who gave more flexibility to the Pentagon to plan its naval patrol schedules in the contested waters.ADVERTISING

American forces have conducted eight freedom of navigation operations this year, the same number as in 2019, but up from six in 2018 and four in each of the previous three years. The US says the manoeuvres are necessary to maintain balance in the region, but Beijing regards them as provocative and has condemned them.

“The US military operations in the South China Sea have affected Sino-US relations and increased tensions,” Wu said.

US aircraft carriers and their strike groups take part in a drill in the South China Sea in July. Photo: EPA-EFE

US aircraft carriers and their strike groups take part in a drill in the South China Sea in July. Photo: EPA-EFELe Hong Hiep, a fellow at the ISEAS-Yusof Ishak Institute in Singapore, said the people Biden chose to fill key defence positions would affect Washington’s relationship with Beijing in the South China Sea, but whoever they were, the tensions were unlikely to go away any time soon.

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Among the front-runners for the post of defence secretary is Michele Flournoy, who served as undersecretary of defence for policy under Obama and is known for advocating a tough stance on China.

“The South China Sea has become an important battleground for US-China strategic competition, where the US can mobilise countries in the region against Beijing, using China’s excessive territorial claims as the rallying call,” Le said.

“As such, under the Biden administration, the US and its allies are likely to continue to maintain or even strengthen their involvement in the South China Sea.”https://www.youtube.com/embed/8eqtl0ym1p8

Meanwhile, Beijing has been stepping up its engagement with its Southeast Asian neighbours.At a video meeting with the Association of Southeast Asian Nations on Thursday, Chinese Premier Li Keqiang said boosting relations with the 10-member bloc was one of Beijing’s priorities.He also called for the negotiations of a code of conduct for the South China Sea to be expedited. In 2018, Li proposed a three-year timeline to create such a code. A second reading of the negotiating draft began in January but the process was halted by the Covid-19 pandemic.

China drafts law to expand coastguard’s powers over islands and foreign vessels6 Nov 2020

Wu said that Washington’s policy to reject most of Beijing’s territorial claims in the South China Sea, the political turmoil in Malaysia, and possible leadership changes in Vietnam and the Philippines over the next two years would complicate the negotiation process.

Le said that despite those hurdles, Beijing was keen to finalise the code.“[A] deepening US-China rivalry may encourage China to accelerate the negotiations,” he said.

“On the other hand, it may also prompt Washington to back nations to resist some of China’s key demands, such as excluding countries from outside the region from conducting military exercises or marine economic activities in the South China Sea.”