Indonesia’s Minimum Wage Rates for 2024 - ASEAN Briefing
Apr 4, 2024 · How is the minimum wage increase calculated? MOM 18/2022 stipulated a new formula for calculating the minimum wage increase. The calculation for the minimum wage took into account Indonesia’s economic growth, inflation, and the contribution of employees to economic growth.
China’s Investments in Indonesia: 2024 Outlook - ASEAN Briefing
Jun 5, 2024 · During their meeting in September 2023, Premier Li Qiang and President Widodo discussed several investments, with China pledging US$21.7 billion across various sectors, including transportation.
Singapore's Economic Outlook - ASEAN Briefing
Oct 21, 2024 · Thanks to decades of targeted policies and actions, Singapore has become one of Asia’s largest and most dynamic economies. The Southeast Asian country has a GDP of US$525.228 billion, a young workforce, and over a million foreign talents working in the rapidly expanding working class.
Indonesia's Employment Regulation: Contracts, Wages, Compliance
Nov 7, 2024 · The hourly wage is calculated by dividing the monthly wage by 173 (the standard number of working hours per month). The calculation of the overtime payment is also categorized by the day of the overtime: working days, weekends, or public holidays.
Why BYD and GAC Aion are Investing in Indonesia's EV Market
Dec 19, 2024 · Indonesia’s nickel-related export revenue surged from US$6 billion in 2013 to nearly US$30 billion in 2022, driven by higher-value-added products such as stainless steel and battery materials.
Thailand’s Global Income Tax Overhaul: Implications for Residents …
Dec 16, 2024 · Thailand is set to overhaul its tax system by 2025, proposing taxation of residents’ worldwide income and introducing a 15 percent global minimum corporate tax for multinationals, aligning with international standards. These changes aim to broaden the tax base but may impact foreign investment and compliance costs.
China Trade with Thailand: Key Dynamics - ASEAN Briefing
Nov 12, 2024 · China became Thailand’s largest foreign investor in 2023, signaling the deepening economic ties between the two nations. This shift reflects not only China’s economic significance to Thailand but also Thailand’s strategic position in Asia as a …
Philippines Passes CREATE MORE Act - ASEAN Briefing
May 24, 2024 · On March 18, 2024, the Philippines House of Representatives passed a Bill amending the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act following the third reading. The amendment (), which has been called the CREATE MORE bill, makes key amendments and enhancements to the tax regime introduced in the CREATE Act to clear up inconsistencies and ambiguities, and importantly, to ...
Strategies for ASEAN Amid Global Trade Shifts - ASEAN Briefing
Nov 20, 2024 · ASEAN is at a sensitive juncture as it faces the economic and geopolitical implications of a second Donald Trump presidency. Through strategic adaptation and regional cooperation, Southeast Asian markets can turn potential adversities into catalysts for growth, ensuring that the region not only withstands but thrives amid short-term global uncertainties and prepares for long-term resilience.
Navigating Indonesia’s New Halal Certification Rules - ASEAN …
Oct 29, 2024 · GR 42/2024 introduces several new provisions and amends existing ones under GR 39/2021, including but not limited to the extension of the halal certification deadline for food and beverage products and ingredients, as well as products resulting from slaughter and slaughtering services, adjustments to the validity period of halal certificates, recognition of foreign halal certifications, and ...