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DOING BUSINESS IN SINGAPORE & SOUTHEAST ASIA

CROSSROADS DOING BUSINESS IN SINGAPORE & SOUTHEAST ASIA


WHY STRENGTHENING COMMUNITIES SHOULD BE A BANK’S BUSINESS.

By 2060, the U.S. population is projected to grow by 90 million. How can we create thriving urban communities for all these people? Developer Jonathan Rose has a vision: Rejuvenate neighborhoods by building affordable, green housing close to jobs, schools, healthcare and mass transit. With financing from Citi, Jonathan is helping to revitalize cities across the country. For over 200 years, Citi’s job has been to believe in people and to help make their ideas a reality.

www.citibank.com.sg/progress

Citibank full disclaimers, terms and conditions apply to individual products and banking services. ©2017 Citibank. Citi, Citi and Arc Design and other marks used herein are service marks of Citigroup Inc. or its affiliates, used and registered throughout the world. Citibank Singapore Limited Co. Reg. No. 200309485K Printed on 02/2017

Your Home At Great World


CONTENTS 09 Message from the U.S. ChargĂŠ

120 Doing Business in Brunei Darussalam

d’Affaires, a.i.

11

Message from the AmCham Chairman

134 Doing Business in Cambodia

12

U.S. Commercial Service in Singapore

138 Doing Business in Indonesia

125 Doing Business in Burma

144 Doing Business in Laos 18

Doing Business in Singapore

150 Doing Business in Malaysia

21

Political Environment

158 Doing Business in the Philippines

23 Selling U.S. Products and Services

167 Doing Business in Thailand

33

174 Doing Business in Vietnam

Leading Sectors for U.S. Exports and Investments

62 Customs, Regulations and Standards

182 U.S. Ports and States Represented in

78 Investment Climate Statement

Singapore

107 Trade and Project Financing

183 American Community Organizations

110 Business Travel

in Singapore

184 U.S. Commercial Service

Offices in the Asia-Pacific Region

191 U.S. Department of Commerce:

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U.S. Commercial Service Export Assistance Center Directory


ADVOCACY | INSIGHTS | CONNECTIONS

EDITORS: Morgan Hughes, Chia Swee Hoon, Dustin Watson, and Hazyln Aidzil DESIGN: Rica Ang PUBLISHED BY: The American Chamber of Commerce in Singapore 1 Scotts Road, Shaw Centre, #23-03 Singapore 228208 Tel: +65 6597-5730 Fax: +65 6732-5917 www.amcham.org.sg

THE AMERICAN CHAMBER OF COMMERCE IN SINGAPORE

American Embassy U.S. Commercial Service 27 Napier Road Singapore 258508 Tel: +65 6476-9037 Fax: +65 6476-9080 http://export.gov/singapore

AMCHAM IS THE LARGEST FOREIGN BUSINESS CHAMBER IN SINGAPORE, REPRESENTING 700 LEADING CORPORATIONS TO PROVIDE BUSINESS CRITICAL INSIGHTS, SUSTAINED POLICY ADVOCACY, AND OPPORTUNITIES TO CONNECT WITH BUSINESS AND GOVERNMENT LEADERS.

MEMBERS

5,000

AmCham is the largest foreign chamber in Singapore with 700 member companies covering MNCs and SMEs.

COMMITTEES

13

Facilitating knowledge sharing through business insights, discussion of current industry trends, & advocacy.

EVENTS YEARLY

250+

Hosting Singapore and American government officials, senior business leaders, and industry experts.

To find out more about our membership contact us at joinus@amcham.org.sg or visit www.amcham.org.sg. Follow us on @AmChamSG #AmChamSG

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www.amcham.org.sg

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SINGAPORE AMERICAN SCHOOL

ASPIRE. ACHIEVE. SOAR.

U.S. CHARGÉ D’AFFAIRES, A.I.'S MESSAGE

The U.S. Embassy in Singapore and the American Chamber of Commerce in Singapore (AmCham Singapore) are pleased to announce the 2018 edition of Crossroads: Doing Business in Singapore and Southeast Asia. As a comprehensive guide to conducting business in Singapore and the broader Association of Southeast Asian Nations (ASEAN) region, Crossroads provides key insights into the opportunities and challenges that American business leaders may encounter when spearheading their firm’s ASEAN operations. This guide offers an overview of the business environments of Singapore and the other ASEAN markets and identifies top prospects for U.S. exports. It also lists important U.S. Government contacts to support regional expansion efforts. The result of an annual collaboration between the U.S. Embassy and the American Chamber of Commerce in Singapore, Crossroads reflects the longstanding relationship between our two institutions and our two countries.   Singapore continues to be one of the United States’ largest trading partners and home to the largest stock of U.S. foreign direct investment in the entire Asia-Pacific region. The two countries enjoy a thriving commercial partnership, as underscored by U.S. investment in Singapore more than doubling over the past five years. Singapore also consistently ranks among the top 10 in

Six high schoolers. A year of planning, research, and collaboration. Surprise challenges and setbacks along the way. Singapore’s first experiment is launched to the International Space Station to study the effects of microgravity on mutations in bacteria. Immersed in a culture of unlimited possibilities, students at Singapore American School apply their interests to the inquiry process to lay the foundation for a lifetime of engaged, personalized learning. Our students know that if it’s important, it’s worth working for. They also know they have the tools they need to conquer new frontiers and change the world around them.

JOIN THE SAS FAMILY AT WWW.SAS.EDU.SG/ADMISSIONS Singapore American School CPE Registration Number: 196400340R Registration Period: 22 June 2017 to 21 June 2023 Accredited by the Western Association of Schools and Colleges

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the world for government transparency and intellectual property protection, making it an ideal regional launch pad for U.S. companies to enter Asia.   Commemorating the 50th anniversary of ASEAN and the 40th anniversary of the U.S.ASEAN Dialogue Partnership, the year 2017 has reaffirmed the high value that the United States places on its deep and multi-faceted relationship with ASEAN. The organization has made monumental strides in promoting its three pillars of social, political and economic security in its 10-member nations. The development of the ASEAN Economic Community promises to further encourage the free flow of trade, investment and labor within the region. More than 4,200 U.S. companies now operate in Singapore alone, indicating that both the American government and industry are united in our desire to deepen our commercial, cultural and people-topeople ties.   We hope that you find this year’s edition of Crossroads an insightful guide for doing business in Singapore and the region. I encourage you to make full use of our Embassy and our Commercial Service to help you succeed in Singapore and Southeast Asia.

Stephanie Syptak-Ramnath

Chargé d’Affaires, a.i., U.S. Embassy Singapore

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We believe in practicing holistic learning

AMCHAM CHAIRMAN’S MESSAGE

that develops students’

As one of the world’s fastest growing regions, Southeast Asia offers attractive opportunities for American businesses. The ten member countries of the Association of Southeast Asian Nations (ASEAN) comprise the seventh-largest economy in the world and are predicted to rank as the world’s fourth-largest economy by 2050. Trade and investment opportunities in ASEAN are being bolstered by robust GDP growth averaging 5% each year since 2000, harmonization of regional regulatory environments and a rising consumer class. As an American headquarters and regional operating hub for Asia, and a robust economy in its own right, Singapore is well-placed to promote businesses aiming to expand in Asia.   Welcome to the 2018 edition of Crossroads: Doing Business in Singapore and Southeast Asia. The American Chamber of Commerce in Singapore (AmCham Singapore) has partnered with the U.S. Embassy in Singapore to present you with this indispensable guide to doing business in Singapore and across the region. This publication offers unique insights into the region’s business environment, key U.S. and regional contacts and attractive investment strategies. We hope that this year’s edition continues to be of the utmost usefulness to the success and growth of your business.

academic outcomes, nurtures core human

values and builds real life skills - every day in every classroom.

OPEN HOUSE

Tuesday and Saturday

Choose GEMS World Academy (Singapore) - Globally experienced and passionate teachers - Comprehensive sporting and arts programme - Active parent engagement opportunities - Integrated i-STEAM and EduTech programme - Three programme (PYP, MYP, DP) IB World School - Cambridge IGCSE programme - Part of the international GEMS Education group of schools - Low student-teacher ratio

For Admissions Enquiries:

+65 6808 7300

Visit www.gwa.edu.sg/open-house

MEMBER

 With Southeast Asia continuing to develop rapidly, Crossroads functions as a crucial guide to keep you abreast of the latest trends, opportunities, and challenges in the region. Issues ranging from intellectual property rights, corporate social responsibility, business culture and overall trade and investment climates are covered, on a country-by-country basis. Key insights are also provided on the individual bilateral relationships between the U.S. and each of the ten ASEAN countries to ensure that American businesses are best prepared to take advantages of the significant commercial opportunities in Southeast Asia.    As we move forward from the 50th anniversary of ASEAN and the 40th anniversary of the U.S.-ASEAN dialogue in 2017, AmCham Singapore looks forward to encouraging deeper and ever more prosperous relations between U.S. businesses and ASEAN. AmCham aims to support you in your efforts to engage in Southeast Asia’s exciting commercial opportunities. Our team stands ready to help by providing actionable insights, effective advocacy and meaningful connections so that you can grow your business in Singapore and across the region.

Dwight Hutchins

Chairman of the AmCham Board of Governors Asia Pacific Managing Director, Strategy Consulting, Accenture

Cert no.: EDU-2-2082 Validity: 27/07/2016 - 26/07/2020

2 Yishun Street 42, Singapore 768039

+65 6808 7321 CPE Registration Number: 200803726H. Registrationinfo@gwa.edu.sg Period: 19 Marchwww.gwa.edu.sg 2017 to 18 March 2021.

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U.S. COMMERCIAL SERVICE SINGAPORE This section provides important contact information on CS Singapore personnel, lists a few of the many commercial and industrial sectors covered by CS Singapore’s Commercial Specialists and describes the major export promotion programs available to U.S. companies. THE U.S. COMMERCIAL SERVICE (CS) • Promotes trade and investment, and ensures fair trade at home and abroad through the rigorous eforcement of U.S. trade laws and agreements. • Creates opportunities for U.S. firms by providing focused export assistance and market research, and fostering level playing fields for American business around the world. • Directs efforts to promote the United States as the leading destination for foreign investment.

MS. CHIA SWEE HOON

MS. LUANNE THESEIRA-O’HARA

Senior Commercial Specialist

Commercial Specialist

Information Technology, Telecommunications, Banking & Insurance, Media/Content/ Entertainment/Broadcasting, Franchising

Medical Devices, Pharmaceuticals, Biomedical Sciences, Laboratory & Scientific Equipment, Cosmetics and Nutritional Supplements, Consumer Goods

Trade Shows ConnecTechAsia June 26-28, 2018 http://www.connectechasia.com

MR. NG HAW CHENG

Trade Shows International Dental Exhibition and Meeting 2018 (IDEM) April 13-15, 2018 https://www.idem-singapore.com/

Commercial Specialist Aviation, Environment Control Equipment, Water, ACE, Building Products & Supplies, Safety & Security

Trade Shows Singapore Air Show 2018 February 6-11, 2018 https://www.singaporeairshow.com/trade Singapore International Water Week July 8-12, 2018 https://www.siww.com.sg/

MR. CHAN YIU KEI Commercial Specialist Oil & Gas, Tourism, Manufacturing

Trade Shows

CS Singapore offers a wide variety of programs and activities to help American companies prosper in the Association of Southeast Asian Nations (ASEAN).

ITB Asia October 17-19, 2018 http://www.itb-asia.com/ OSEA 2018 December 4-6, 2018 http://www.osea-asia.com/

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SELECTUSA PROGRAM MR. ONG ZHI XIANG (ZAC) Commercial Assistant Singapore Mailing Address American Embassy Commercial Service 27 Napier Road Singapore 258508 Tel: (65) 6476-9037 Fax: (65) 6476-9080 Email address: office.singapore@trade.gov Website: www.export.gov/singapore

AMY VICKERY Desk officer for Singapore, Indonesia, and Myanmar International Trade Administration U.S. Department of Commerce 1400 Constitution Ave., NW Washington, DC 20230 E-mail: Amy.Vickery@trade.gov

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U.S. COMMERCIAL SERVICE SINGAPORE

U.S. COMMERCIAL SERVICE SINGAPORE

Inauguration of U.S. Pavilion @ ITB Asia

CS SINGAPORE PRODUCTS AND SERVICES

Trade Information Center at 1-800-USATRADE, or visit www.export.gov.

The U.S. Commercial Service offers customized solutions to help your business enter and succeed in markets worldwide. Our global network of trade specialists will work oneon-one with you through every step of the exporting process, helping you to: • Target the best markets with our world class research • Promote your products and service to qualified buyers • Meet the best distributors and agents for your products and service • Meet the best distributors and agents for your products and service • Overome potential challenges or trade barriers.

  U.S. exporters seeking general export information/assistance or country specific commercial information should consult with their nearest Export Assistance Center or contact the U.S. Department of Commerce’s

»»GOLD KEY SERVICE (GKS) The GKS includes: appointments with pre-screened firms interested in client’s product(s)/ service(s) or in joint venture; use of conference room for one-on-one meetings; market counseling by Commercial Specialist; a Guide for U.S. exporters; relevant market research; hotel reservations at embassy rate; car rental arrangements as needed; escort for out-of-office calls as available.

partners. Researched and prepared by our Commercial Specialists, ICPs enable U.S. small and medium-sized businesses to more effectively evaluate overseas companies. You will get detailed answers to your questions about the specific overseas companies in which you are interested - credit rating, profit and loss numbers, key officers, and our opinion on the overall viability of the firm in its market.

»»INTERNATIONAL COMPANY PROFILE

» INITIAL MARKET CHECK (IMC) The IMC offers a quick and brief assessment of how a specific product will sell in the country. This service helps U.S. businesses get a preliminary overview of the market, providing rationale for their market entry decision. Commercial Specialists or Assistants

(ICP) Initiate and manage your international business relationships with confidence. Have the U.S. Commercial Service generate a customized ICP on your potential business

CLIENT FACILITATION SERVICES »»CUSTOMIZED MARKET

RESEARCH (CMR) Use a CMR to access the international market intelligence you need to make informed business decisions regarding exporting. Our incountry experts help U.S. businesses develop a clear picture of the export prospects for specific products in any given market. You will get customized market research reports that address your particular questions regarding: overall marketability of your products and services; market trends and size; customary distribution and promotion practices; market entry requirements; regulations, product stan¬dards and registration; key competitors; potential agents, distributors or strategic partners; and more.

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U.S. Pavilion @ CommunicAsia

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U.S. COMMERCIAL SERVICE SINGAPORE

U.S. COMMERCIAL SERVICE SINGAPORE

develop a customized scope of services including individual meetings with government representatives and firms identified by the EDO, briefings, events, and other activities to support its visit.

U.S. Commercial Service staff @ OSEA

will get in touch with industry contacts to receive feedback on the market conditions with regards to a particular product and include their findings in the report

» INTERNATIONAL PARTNER SEARCH (IPS)

implement a customized market expansion program for the client. This program will be implemented according to a defined scope of work that includes specific deliverables agreed upon between the U.S. client and the U.S. Commercial Service.

The IPS provides a report on qualified overseas agents, distributors, manufacturers, representatives, joint venture partners, licensees, franchisees, or strategic partners who have examined a U.S. company’s materials and expressed an interest in partnering with the company.

» SINGLE COMPANY PROMOTION (SCP) Via our SCP service, we will assist a U.S. company or its local representative to organize a promotional event in Singapore which could include seminars, luncheons, cocktail receptions, etc. The service is tailored to the specific needs of the U.S. company.

»»PLATINUM KEY SERVICE (PKS) The PKS provides sustained marketing support by the U.S. Commercial Service in Singapore for U.S. firms. A Commercial Specialist will be assigned as a “dedicated account executive” to develop and

» SINGLE LOCATION PROMOTION (SLP) SLP events are a fee-based service to develop specific activities for U.S. economic development organizations (EDOs) to help promote a U.S. region as an investment destination. At the EDO’s request, we can

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»»SELECTUSA The SelectUSA program aims to attract investment and increase employment in the United States. Recognizing that the competitiveness and job-generating ability of a nation is determined by its desirability as a place for businesses to operate, SelectUSA was created at the federal level to showcase the United States as the world’s premier business location and to provide easy access to federal-level programs and services related to business investment. SelectUSA is designed to complement the activities of our states - the primary drivers of economic development in the United States.

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SINGAPORE BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND VIETNAM

MARKET OPPORTUNITIES

• English speaking population

U.S. exporters will find a promising market for the following industry sectors in Singapore: semiconductors, oil and gas, aircraft and

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• Construction of Singapore Changi Airport Terminal 4 and Terminal 5 and a third runway;

VIETNAM

• Strong intellectual property protection

• Other infrastructure projects include the Woodlands General Hospital and the existing Tan Tock Seng Hospital. These are scheduled to progressively come on stream between 2020 and 2036;

THAILAND

• Favorable tax codes

• A new 300-bed hospital for infectious disease will be built and is expected to be ready by 2018 while a new US$135 million National Heart Center building is currently being built at the Singapore General Hospital and scheduled for completion in 2020;

PHILIPPIINES

• Lack of corruption

• Over the medium term, five new public hospitals and up to twelve more polyclinics will be built by 2030 and there are plans to build new and replacement nursing homes to bring the total to 25 by 2020;

MALAYSIA

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• Major distribution and logistics hub and gateway to the ASEAN region

• Major redevelopment of Singapore’s   oldest and largest hospital is set to take place from 2025 to 2035;

LAOS

Singapore is an important partner of the United States with a bilateral gold standard Free Trade Agreement (FTA) signed in 2003 and implemented January 1, 2004 - the first U.S. FTA signed in Asia. In 2016, Singapore was the United States’ 13th largest export market and 19th largest trading partner. The U.S. exported more to Singapore (US$26.87 billion) than to many other economies with significantly larger populations, including Taiwan, Australia, India, Italy, and Malaysia. In 2016, the U.S. ran its sixth largest goods trade surplus of US $9.07 billion with Singapore.   Singapore’s gross domestic product grew 2.0% in 2016 and the official growth forecast for 2017 is 1.0% to 3.0%. The United States was Singapore’s third largest source of imports while China retained its top position

followed by Malaysia, U.S., Taiwan, Japan, South Korea, Indonesia, Germany, France, and Saudi Arabia.   The World Bank ranked Singapore the second easiest place to do business in the world. Five reasons U.S. companies should consider exporting to Singapore are:

• US$580 million blueprint to grow the clean energy industry in Singapore;

INDONESIA

MARKET OVERVIEW

• US$150 million Very Large Floating Structure (VLFS) tender for petrochemical storage is postponed to 2018 due to the downturn in the oil and gas sector;

CAMBODIA

SINGAPORE

• US$500 million second Liquid National Gas (LNG) terminal is being finalized;

BURMA

DOING BUSINESS IN

parts, medical devices, telecommunication equipment, computer hardware, software and peripherals, environmental control equipment, industrial automation, laboratory and scientific equipment, and education.   The following are major infrastructure projects, significant government procuremens and business opportunities in Singapore:

BRUNEI

BRUNEI

MARKET CHALLENGES Singapore is generally a free port as more than 99% of all imports enter Singapore duty-free. For social and/or environmental. reasons, it levies high excise taxes on distilled spirits and wine, tobacco products, motor vehicles, and gasoline.   U.S. companies face technical import barriers for beef, pork and poultry products, and service barriers include restrictions on satellite dishes, foreign newspapers, pay television, legal services, banking, and healthcare procedural transparency.   Details on the barriers can be found in the USTR 2017 National Trade Estimate Report on Foreign Trade Barriers available online at https://ustr.gov/about-us/policy-offices/pressoffice/reports-and-publications/2017/2017national-trade-estimate.   Competing with global suppliers remains a key challenge for American companies. With the ongoing restructuring of Singapore’s economy, U.S. companies doing business in the country can expect increased operating costs and continued tightening availability of foreign labor. The next 50 years will present new challenges to Singapore in the form of a greying workforce, maturing economy, growing influence of social media, and increasing competition from other trade agreements and ASEAN partners. To counter the challenges, the Singapore Government’s Committee on the Future Economy has identified strategies to meet the challenges and the full report can be found at https:// www.gov.sg/~/media/cfe/downloads/cfe%20 report.pdf?la=en.

SINGAPORE

SINGAPORE


SINGAPORE

SINGAPORE

POLITICAL ENVIRONMENT U.S.-SINGAPORE RELATIONS

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VIETNAM

INDONESIA LAOS THAILAND

The U.S.-Singapore Free Trade Agreement entered into force January 1, 2004. Since then, bilateral goods trade has increased over 40%, reaching US$44.7 billion in 2016. The United States is Singapore’s largest foreign investor, with U.S. investments reaching

THAILAND

VIETNAM

BILATERAL ECONOMIC RELATIONS

PHILIPPINES

The Export Control and Related Border Security (EXBS) Program has partnered with Singapore since 2003 to help develop Singapore’s capacity to regulate the trade and transfer of dual-use goods, equipment, and technologies that can be diverted to illicit weapons programs, and to help establish related border enforcement measures. EXBS assistance for Singapore in 2016 totaled US$250,000.

MALAYSIA

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U.S. ASSISTANCE TO SINGAPORE

LAOS

MALAYSIA

MARKET ENTRY STRATEGY Many U.S. exporters successfully use agents or distributors to serve the Singapore and other Southeast Asia markets while over 4,200 U.S. firms have set up operations in the country. Singapore firms are aggressive when it comes to representing new products and usually respond enthusiastically to new opportunities.   Price, quality, and service are the three main factors for Singapore buyers. U.S. exporters should be aware that competition is strong and buyers expect good after-sales service. Selling techniques vary according to the industry and product and are comparable to the techniques used in most other sophisticated markets. It is also important for U.S. firms to visit their representatives in Singapore and maintain close contact with them.

INDONESIA

PHILIPPINES

• Smart Nation Initiatives.

a strong basis for strategic cooperation between the two countries. In 2012, the United States and Singapore held the first annual Strategic Partnership Dialogue, which introduced new mechanisms, including the Third Country Training Program (TCTP), a joint technical assistance program that draws on expertise to help ASEAN nations build capacity across sectors such as cyber, trade, labor, environment, and intellectual property. Over the past five years, the U.S. Department of State and Singapore’s Ministry of Foreign Affairs have held 30 TCTP workshops that trained over 1,000 ASEAN government officials.

CAMBODIA

CAMBODIA

• Singapore Government ICT tenders of more than US$1.9 billion;

The United States recognized Singapore’s independence from Malaysia in 1965 and has had formal diplomatic relations with the country since 1966. The August 2016 State Visit by Prime Minister Lee Hsien Loong to Washington, D.C. highlighted 50 years of strong bilateral relations and acknowledged our shared interest in continued cooperation across economic, political, security, and people-to-people sectors.   The U.S.-Singapore economic relationship is founded on our bilateral Free Trade Agreement (FTA) – signed in 2003 and implemented beginning January 1, 2004. Despite Singapore’s small size and a population of only 5.5 million people, in 2016 Singapore ranked as the United States’ 19th largest trading partner and 13th largest export market. There are more than 30,000 Americans living in Singapore. Approximately 4,200 U.S. companies operate in the country, many of which use Singapore as their regional headquarters. Many Singaporeans also visit and study in the United States. Each year, the U.S. Government sponsors visitors under the International Visitor Program, provides Fulbright scholarships to enable selected American and Singaporean academics and students to teach or conduct research, and sponsors programs to introduce American policies, values, and culture to Singaporean audiences.   Our engagement with Singapore also includes collaboration on a regional and global scale. Singapore’s support for regional cooperation compliments U.S. policy, forming

BURMA

BURMA

More information about Singapore is available on the Singapore Country Page http://www.state.gov/p/eap/ci/sn/ and from other Department of State publications and other sources listed at the end of this fact sheet.

• Advanced water technology and infrastructure in areas such as filtering and purifying machinery and apparatus, technologies involving wastewater recycling and treatment, and desalination technologies;

BRUNEI

BRUNEI

• US$2.6 billion Phase 3 and 4 port expansion at Pasir Panjang Terminal;

SINGAPORE

DOING BUSINESS IN SINGAPORE


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA

Singapore and the United States belong to a number of the same international organizations, including the United Nations, Asia-Pacific Economic Cooperation (APEC) forum, Association of Southeast Asian Nations (ASEAN) Regional Forum, International Monetary Fund, World Bank, and World Trade Organization.

BILATERAL REPRESENTATION

International Religious Freedom Reports http://www.state.gov/j/drl/irf/rpt/index.htm Trafficking in Persons Reports http://www.state.gov/j/tip/rls/tiprpt/index.htm\ Narcotics Control Reports http://www.state.gov/j/inl/rls/nrcrpt/index.htm Investment Climate Statements http://www.state.gov/e/eb/rls/othr/ics/index. htm Office of the U.S. Trade Representative Countries Page https://ustr.gov/countries-regions

Many American exporters use agents or distributors to serve the Singapore market and other markets in Southeast Asia. Finding prospective partners usually presents no problem as Singapore firms are aggressive when it comes to representing new products and typically respond enthusiastically to new opportunities. Most American companies that use the U.S. Commercial Service (CS) Singapore matchmaking and promotion services in Singapore find several interested agents or distributors. Because of the relatively small size of the Singapore market, potential partners often ask to cover regional territories. With a strong history of trade, Singaporean companies are particularly successful in taking products to the region. CS Singapore offers a wide range of programs and has an excellent record of success in introducing U.S. firms to the market. A list of services offered by CS Singapore can be obtained from our website at www.export. gov/singapore.

Export.gov International Offices Page http://export.gov/worldwide_us/index.asp Library of Congress Country Studies http://lcweb2.loc.gov/frd/cs/ Travel Information https://travel.state.gov/content/travel/en.html

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Image courtesy of the Singapore Tourism Board

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VIETNAM

CIA World Factbook Singapore Page https://www.cia.gov/library/publications/theworld-factbook/geos/sn.html

THAILAND

Department of State Key Officers List http://www.state.gov/documents/ organization/111812.pdf

»»REPRESENTATIVE OFFICE

Setting up a Representative Office in Singapore can be a good way for American firms to explore business opportunities in Singapore or the region. ROs in banking and insurance need to register with the Monetary Authority of Singapore (MAS) and meet the guidelines or requirements laid out by the MAS. ROs in all other industries need to register with International Enterprise (IE) Singapore.   ROs can only carry out market research, conduct feasibility studies or work as a liaison on behalf of the parent company. ROs may not conduct business directly or on behalf of the parent company. ROs cannot ship, transship, or store goods in Singapore.

PHILIPPINES

U.S. Census Bureau Foreign Trade Statistics http://www.census.gov/foreign-trade/balance/ index.html

Department of State Singapore Country Page http://www.state.gov/p/eap/ci/sn/

ESTABLISHING AN OFFICE American firms wishing to establish a presence in Singapore have several straightforward options to do so. They can establish a Representative Office (RO), register as a Branch of the parent, or incorporate as a Singapore company. General information on establishing an office can be found at https:// www.acra.gov.sg/Start_Ups.   If an American company wishes to carry on operations in Singapore, it should register a branch office or incorporate a local company with the Accounting and Corporate Regulatory Authority (ACRA) – http://www. acra.gov.sg. ACRA publishes an excellent guide that takes the first time registrant through the process of establishing a branch office or incorporating in Singapore.

MALAYSIA

The Chargé d’Affaires, ad interim is Stephanie Syptak-Ramnath; other principal embassy officials are listed in the Department’s Key Officers List.   Singapore maintains an embassy http://www. mfa.gov.sg/washington/ in the United States at 3501 International Place NW, Washington, DC 20008 tel. +1 (202) 537-3100. More information about Singapore is available from the Department of State and other sources, some of which are listed here:

Human Rights Reports http://www.state.gov/j/drl/rls/hrrpt/

USING AN AGENT TO SELL U.S. PRODUCTS AND SERVICES

LAOS

LAOS

History of U.S. Relations With Singapore http://history.state.gov/countries

INDONESIA

MALAYSIA

U.S.-Asia Pacific Comprehensive Energy Partnership https://www.state.gov/e/enr/c56576.htm

SELLING U.S. PRODUCTS & SERVICES

CAMBODIA

PHILIPPINES

SINGAPORE’S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

U.S. Embassy https://sg.usembassy.gov/

BURMA

THAILAND

US$243.7 billion in 2015. Singapore is a Visa Waiver Program country, which allows its citizens to travel visa-free to the United States for certain business or tourism purposes for stays of 90 days or less.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

POLITICAL ENVIRONMENT


MALAYSIA PHILIPPINES

FRANCHISING

DIRECT MARKETING

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VIETNAM

The direct marketing industry in Singapore began in the early 1990s and now includes direct mail, telemarketing, television sales, mail order, call centers, fulfillment, and eCommerce firms. The Direct Marketing Association of Singapore represents both

THAILAND

Singapore is home to a wide variety of franchise concepts. Foreign franchises are well received and the United States is by far the largest supplier of foreign franchises in the country. There are American franchises in practically every industry. McDonald’s, Burger King, KFC, Wing Zone, Krispy Kreme, Subway, Starbucks, Ben and Jerry’s, Gymboree, New Horizons, Mister Minit, Avis, Toys R Us, Comfort Keepers, Contours Express, and

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS

SELLING TO THE GOVERNMENT Many governments finance public works projects through borrowing from the Multilateral Development Banks. Please refer to the “Project Financing” Section in “Trade and Project Financing” for more information

LAOS

American firms can also register a soleproprietorship, partnership, limited liability partnership, or incorporate a company in Singapore. For a sole proprietorship the process takes about one day, while more complex business entities can take up to six weeks and require lawyers and accountants to assist with incorporation documents. A point to bear in mind is that registration/ incorporation of a company does not automatically mean that expatriate staff can be assigned to Singapore. Foreign staff must obtain employment passes from the Singapore Ministry of Manpower.

JOINT VENTURES/LICENSING Foreign investors are not required to enter into joint ventures or cede management control to local interests. In Singapore, local and foreign investors are subject to the same basic laws. Apart from regulatory requirements in some sectors, the government screens investment proposals only to determine eligibility for various incentive regimes. Singapore places no restrictions on reinvestment or repatriation of earnings or capital.   Licensing is also a viable alternative in Singapore. With one of the strongest IPR protection schemes in Asia, a welldeveloped legal framework and an advanced manufacturing base, Singapore is an attractive location for American licensors.

INDONESIA

MALAYSIA

»»ESTABLISHING A SINGAPORE BUSINESS

users and service providers. The direct marketing industry is well supported by service companies including: Singapore Post, Singapore Telecom Call Center, Teledirect, TNT International Mail, Ogilvy One and MMS Consultancy, among many others. The Singapore government also actively supports the industry by assisting companies (through financial incentives) in using direct marketing for their trading activities through its Direct Marketing Program.   The Direct Selling Association of Singapore (DSAS), a self-regulatory body, was established in 1976. It provides a forum for all direct-selling companies in Singapore to discuss problems of common concern and to codify a high standard of business practices throughout the industry. The DSAS has adopted a Code of Conduct by which member-companies in the Association must abide by in every aspect of business. Through the Code of Conduct, DSAS aims to further inculcate the spirit and practice of ethical direct-selling within its member-companies, setting examples for others to follow.

CAMBODIA

PHILIPPINES

»»BRANCH OFFICE

For Branch Offices, the Companies Act requires a foreign company to appoint two local agents in Singapore to act on behalf of the company. The agents must be ordinarily resident in Singapore i.e. a Singaporean Citizen, a Singapore Permanent Resident, or a person who has been issued an EntrePass/ Approval-In-Principle letter/Dependent Pass.

many others have operations in Singapore.   Although the market is saturated, Singaporeans continue to seek out fresh franchise concepts to introduce into the country. The success of selling a franchise in Singapore is based on a number of factors including brand name, up-front costs and royalties, the concept’s uniqueness, and the flexibility of the franchise agreement. U.S. franchisors should note that real estate in Singapore is prohibitively expensive and getting a good location is a challenge, especially for those in the retail and F&B business.   With its strategic location and welldeveloped infrastructure, Singapore serves as the regional showcase and distribution center for U.S. franchisors wishing to enter Asia markets. There have been instances where visitors from the region saw a franchise concept in Singapore and were interested in bringing it back to their own countries. In 2016, Singapore attracted over 16.4 million visitors from around the world. The country’s multi-ethnic society also makes it an ideal location for foreign franchisors to test their concepts and use the reaction to gauge the acceptance of their franchise in Asia. There are also opportunities for U.S. franchisors to work with Singapore companies to access markets in nearby countries. Singapore investors may buy franchise licenses for additional markets in the Southeast Asian region and not for Singapore alone.

BURMA

THAILAND

American firms can either work through an agent or distributor to do so or establish their own commercial presence.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

SELLING U.S. PRODUCTS & SERVICES

Image courtesy of the Singapore Tourism Board

- 25 -


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS

Changi Airport is served by more than 100 airlines flying to some 380 cities in about 80 countries and territories worldwide. Among these, over 20 airlines operate more than 300 weekly scheduled freighter flights linking Singapore to about 52 cities in 18 countries. As one of the world’s busiest airports for air cargo, Changi Airport handles over 1.97 million tons annually, with transshipment volume accounting for almost half of the throughput.

90%

Cargo available within 3.5 hours of passenger aircraft arrival

90%

Cargo available within 5.5 hours of freighter aircraft arrival

90%

Cargo cleared by customs within 13 minutes

90%

»»CURRENT MARKET TRENDS

SELLING FACTORS AND TECHNIQUES Price, quality and service are the main selling factors in Singapore. Prospective exporters to Singapore should be aware that competition is strong and that buyers expect good after-sales service. Selling techniques vary according to the industry or the product involved, but they are comparable to the techniques used in any other sophisticated market.

ECOMMERCE »»OVERVIEW

Singapore’s eCommerce market is growing fast. Online shopping in Singapore tripled from S$1.1 billion in 2010 to S$3.5 billion in 2014, and forecasted to grow to as much as S$46.3 billion in 2020. The eCommerce ecosystem in the country has grown significantly as key digital marketplaces such as Qoo10 have set up regional operations in Singapore to manage their growth in Southeast Asia. The Singapore government envisioned the country to be a hub for consumer-centric innovation where companies understand and know their consumers online. It actively supports companies in leveraging IT to develop and expand their businesses.

»»DOMESTIC ECOMMERCE (B2C)

»»CROSS-BORDER ECOMMERCE

According to Forrester Research, 60% of Singapore’s eCommerce sales come from cross-border orders, a significant percentage compared to countries like Malaysia (40%), Japan (18%), and South Korea (25%). The Financial Study Association of Amsterdam also highlighted Singapore’s suitability as an

- 27 -

VIETNAM

Singapore’s eCommerce market is growing fast helped by its pervasive, ultra‐high speed, and trusted ICT infrastructure, tech savvy population, and the government’s dedication in embracing the digital economy and achieving its goal of becoming a Smart Nation. The World Bank ranked Singapore as the second easiest place to do business in the world. It is English speaking, has rule of law, strong IP protection, and an advanced infrastructure network. There is excellent opportunity for U.S. companies to participate in the growing Singapore eCommerce market given its sophisticated, international customer base and one of the highest disposable incomes in Asia. Situated

A favorite pastime of Singaporeans is shopping and online shopping is especially popular with young adults and higher income households. A study by Visa showed that 26% of Singaporeans shop online at least once a week – the highest in Southeast Asia. Those in the 25 to 44 age group most frequently shop online in Singapore.

THAILAND

- 26 -

Cargo documents available within 4 hours of freighter aircraft arrival

PHILIPPINES

  At Changi Airport, stringent standards are set to ensure that ground handlers deliver world class services to the cargo agents and the shippers while cargo clearance through the Customs checkpoints remains seamless and efficient.

90%

MALAYSIA

Image courtesy of the Singapore Tourism Board

Cargo documents available within 2 hours of passenger aircraft arrival

LAOS

MALAYSIA

EXPRESS DELIVERY

at the crossroads of international shipping and air routes, Singapore is a center for transportation and communication in the region, making it an ideal gateway into Asia Pacific’s eCommerce market.

Target

INDONESIA

PHILIPPINES

Singapore’s distribution and sales channels are simple, direct and open to the participation of foreign firms established in Singapore. Because of Singapore’s role as a regional hub, most local distributors will also have knowledge of regional distribution rules and regulations. Most consumer goods are imported by stocking distributors who resell to retailers. Some goods are imported directly for sale in the importer’s own retail outlets.

Performance Standards

CAMBODIA

THAILAND

DISTRIBUTION AND SALES CHANNELS

BURMA

at http://2016.export.gov/advocacy/eg_ main_022753.asp.   Singapore is a signatory to the WTO Agreement on Government Procurement. The U.S.-Singapore FTA (USSFTA) provides increased access for U.S. firms to Singapore’s central government procurement. The USSFTA contains specific conduct guarantees to ensure that Singapore Government Linked Companies (GLCs) will operate on a commercial and non-discriminatory basis towards U.S. firms. GLCs with substantial revenues or assets are also subject to enhanced transparency requirements under the USSFTA. In accordance with its USSFTA commitments, Singapore enacted the Competition Act in 2004 and established the Competition Commission of Singapore in January 2005. The Act contains provisions on anti-competitive agreements, decisions, and practices; abuse of dominance; enforcement and appeals process; and mergers and acquisitions.   U.S. firms generally find Singapore to be a receptive, open and lucrative market. The Singaporean government procurement system is considered by many American firms to be fair and transparent. Procurement recommendations are made at the technical level and then forwarded to management for concurrence. Bidders should work closely with the project manager to determine the relative importance of decision criteria such as technical capability and price. Bidders must meet the specifications set out in the tender. Post mortem hearings or meetings for losing bidders are not required or common. Government procurement regulations are contained in Instruction Manual 3, available from the Ministry of Finance. The Singapore Government also advertises its tenders on its website at https://www.gebiz.gov.sg/.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

SELLING U.S. PRODUCTS & SERVICES


SINGAPORE

eCommerce test-bed, as the high share of cross-border trade offers businesses unique insights into Asia Pacific’s online shopping behavior.

CAMBODIA INDONESIA LAOS

»»POPULAR ECOMMERCE SITES

Besides Amazon, E-bay, and Apple, other popular eCommerce sites visited by Singaporeans include Taobao, Qoo10, Lazada, Zalora, Carousell, Redmart, Reebonz, HipVan, and Honestbee.

»»ONLINE PAYMENT

Singapore has the most mature eCommerce payment infrastructures in Southeast Asia. A survey by Payvision showed that most domestic eCommerce sales are paid by credit cards and bank transfers. Cash on delivery is not as commonly used in Singapore as in other countries in Southeast Asia. For crossborder purchases, Singapore’s preferred payment methods are credit cards and PayPal.

»»MOBILE ECOMMERCE

Smartphones are ubiquitous in the country as Singaporeans use them to listen to music,

»»SOCIAL MEDIA

Singaporeans are among the most active social media users in the world. They use Facebook, YouTube, Google, Linkedin, Instagram, Twitter, Tumblr, and Pinterest as well as messaging apps such as WhatsApp. The country has one of the most developed ICT infrastructures in the world with a nationwide super high-speed fiber optic broadband network. According to the Infocomm Media Development Authority (IMDA), 86% of Singaporean households are connected to the internet. In December 2016, Singapore’s mobile penetration reached 149.8% with 3.4 million 3G subscriptions and 4.8 million 4G subscriptions. Singapore is a leading early adopter market for tablet ownership, with household penetration estimated at 54% at the end of 2014. The high adoption rate for mobile devices will drive mobile eCommerce, with 55% of online shoppers choosing to do their shopping via their mobile device,

- 29 -

VIETNAM

VIETNAM

»»MAJOR BUYING HOLIDAYS

Black Fridays, Christmas, Chinese New Year, and Google Online Festivals drive online purchases in Singapore.

THAILAND

Computers Misuse Act http://statutes.agc.gov.sg/aol/search/display/view. w3p;page=0;query=DocId%3A8a3534de991c-4e0e-88c5-4ffa712e72af%20%20Status%3Ain force%20Depth%3A0;rec=0

Personal Data Protection Act http://statutes.agc.gov.sg/aol/search/display/view. w3p;query=DocId%3Aea8b8b45-51b8-48cf-83bf81d01478e50b%20Depth%3A0%20Status%3Ainforce;rec=0

PHILIPPINES

- 28 -

Misrepresentation Act http://statutes.agc.gov.sg/aol/search/display/ view.w3p;query=Status%3Acurinforce%20 Type%3Aact,sl%20Content%3A%22Misrepresentation%22%20Content%3A%22Act%22;rec=0;resUrl=http%3A%2F%2Fstatutes.agc.gov. sg%2Faol%2Fsearch%2Fsummary%2Fresults. w3p%3Bquery%3DStatus%253Acurinforce%2520Type%253Aact,sl%2520Content%253A%2522Misrepresentation%2522%2520Content%253A%2522Act%2522;whole=no

»»DIGITAL MARKETING

Some effective online promotions on eCommerce sites include discounts of 15%, buy one get one free, and/or free delivery.

MALAYSIA

There are many local fulfilment centers in Singapore and some such as Singapore Post provides a full service end-to-end managed eCommerce solution. Situated at the crossroads of international shipping and air routes, Singapore is a center for transportation and communication in Southeast Asia. With more than 100 airlines serving some 380 cities, Singapore’s Changi Airport has established itself as a major aviation hub in the Asia Pacific region. Singapore is also a leading international maritime center, home to more than 120 international shipping groups. The World Bank’s Logistics Performance Index ranked Singapore Asia’s top performer when it comes to global freight forwarding and express carriers. Its well-developed logistics and infrastructure network has attracted major international logistics companies such as FedEx, UPS and DHL to locate major hubs in Singapore.

Sale of Goods Act http://statutes.agc.gov.sg/aol/search/display/ view.w3p;query=Status%3Acurinforce%20 Type%3Aact,sl%20Content%3A%22sale%22%20 Content%3A%22of%22%20Content%3A%22Goods%22%20Content%3A%22Act%22;rec=0;resUrl=http%3A%2F%2Fstatutes.agc.gov. sg%2Faol%2Fsearch%2Fsummary%2Fresults. w3p%3Bquery%3DStatus%253Acurinforce%2520Type%253Aact,sl%2520Content%253A%2522sale%2522%2520Content%253A%2522of%2522 %2520Content%253A%2522Goods%2522%2520Content%253A%2522Act%2522;whole=no)

Trade Marks Act http://statutes.agc.gov.sg/aol/search/display/view. w3p;page=0;query=DocId%3A%22eda8ae51-90954ada-b5e4-0407c03ca714%22%20Status%3Ainforce%20Depth%3A0;rec=0

LAOS

MALAYSIA

»»ECOMMERCE SERVICES

Electronic Transactions Act http://statutes.agc.gov.sg/aol/search/display/view.w3p;query=CapAct%3A88%20 Type%3Auact,areved;rec=0;resUrl=http%3A%2F%2Fstatutes.agc.gov.sg%2Faol%2Fsearch%2Fsummary%2Fresults.w3p%3Bquery%3DCapAct%253A88%2520Type%253Auact,areved

INDONESIA

PHILIPPINES

The Singapore government has strengthened statutes and regulations to boost consumer confidence in eCommerce. U.S. firms interested in doing business in Singapore should be aware of the following regulations and laws:

connect with friends, find restaurants, get the latest news, and shop online. Mobile commerce shows a stronger growth than the overall eCommerce market. Young Singaporean customers (between 18 and 29 years old) are driving this trend; almost three quarters of them use their mobile devices for online shopping. Mobile usage is expected to continue to grow strongly.

Copyright Act http://statutes.agc.gov.sg/aol/search/display/ view.w3p;query=Status%3Acurinforce%20 Type%3Aact,sl%20Content%3A%22Copyright%22%20Content%3A%22Act%22;rec=0;resUrl=http%3A%2F%2Fstatutes.agc.gov. sg%2Faol%2Fsearch%2Fsummary%2Fresults.w3p%3Bquery%3DStatus%253Acurinforce%2520Type%253Aact,sl%2520Content%253A%2522Copyright%2522%2520Content%253A%2522Act%2522;whole=no

CAMBODIA

THAILAND

PROPERTY RIGHTS

BURMA

BURMA

»»B2B ECOMMERCE

B2B eCommerce transactions have been growing in Singapore and there is a trend of more companies using the country as a base to reach overseas customers in neighboring countries. The Singapore government actively supports eCommerce with various initiatives to help businesses establish strategies locally and abroad while helping them increase sales and productivity.

»»ECOMMERCE INTELLECTUAL

BRUNEI

BRUNEI

SINGAPORE

SINGAPORE

SELLING U.S. PRODUCTS & SERVICES


SINGAPORE BRUNEI BURMA LAOS MALAYSIA PHILIPPINES THAILAND VIETNAM

• Helps companies build competitiveness and resilience through capacity building initiatives and services

American Chamber of Commerce in Singapore http://www.amcham.org.sg/: The American Chamber of Commerce in Singapore (AmCham) is the leading international business association in Singapore, with over 5,000 members representing more than 700 companies. American companies’ direct investment in Singapore exceeds US$243.7 billion.

- 31 -

VIETNAM

Legal Services: A list of service providers can be found at The Law Society of Singapore website: http://www.lawsociety. org.sg/forPublic/FindaLawFirmLawyer/ FindaLawFirm.aspx   Accounting and Tax Services: A list of service providers can be found at the Institute

• Represents the business community in bilateral, regional, and multilateral fora for the purpose of promoting trade expansion and business networking in Singapore and abroad

THAILAND

- 30 -

LOCAL PROFESSIONAL SERVICES

• Acts as a bridge between the business community and government in Singapore to create and enhance an environment conductive to business.

PHILIPPINES

In any foreign market companies should consider several general principles for effective management of their intellectual property. For background on these principles please link to our article on Protecting Intellectual Property https://www.export. gov/article?id=Protecting-IntellectualProperty and also Corruption https://www. export.gov/article?id=Corruption.   Singapore has signed a number of major IPR treaties, such as the Paris Convention for the Protection of Industrial Property, the World Intellectual Property Organization (WIPO) copyright treaty, the Berne Convention

DUE DILIGENCE Entities wanting to carry out business in Singapore must register with the Accounting and Corporate Regulatory Authority (ACRA). The U.S. Commercial Service Singapore offers the International Company Profile http://www.export.gov/ singapore/ser vicesforu.s.companies/ internationalcompanyprofile/index.asp service to American firms wishing to check the bona fides of existing or potential partners. Alternately, U.S. firms can run a check on Singapore companies by accessing the ACRA database via www.acra.gov.sg. Other credit agencies include Infocredit D&B http://www.dnb.com.sg/bureau.html.

Singapore Business Federation http://www.sbf.org.sg: The Singapore Business Federation (SBF) is the apex business chamber that champions the interests of the Singapore business community in trade, investment, and industrial relations. It represents 21,500 companies, as well as key local and foreign business chambers, that contribute significantly to the Singapore economy. As the apex business chamber, SBF presents a strong collective voice that:

MALAYSIA

PROTECTING INTELLECTUAL PROPERTY

Name: Ms. Kitisri Sukhapinda, Regional IP Attaché for Southeast Asia, U.S. Patent and Trademark Office Address: U.S. Embassy Bangkok, Room 302, GPF Witthayu Tower A, 93/1 Wireless Road, Bangkok 10330, Thailand Telephone: (662) 205-5913 E-mail: Kitisri.Sukhapinda@trade.gov

PRINCIPAL BUSINESS ASSOCIATIONS

LAOS

equipment purchases until the vendor has Image courtesy of the Singapore Tourism Board

Good sales and customer support are vital in Singapore. The market is so price competitive that client-focused sales support or customer service can make a big difference. Singapore distributors respond well to training on new products, and if properly supported by the U.S. manufacturer will do a good job cultivating old customers and developing new ones.

IP CONTACT IN SOUTHEAST ASIAN REGION

of Singapore Chartered Accountants website: http://iscadirectory.isca.org.sg/

INDONESIA

PRICING Pricing is very competitive. Major department stores and retail chains offer fixed-price merchandise, while the smaller shops expect buyers to bargain. Hard bargaining is common in the commercial and industrial sectors as well, where buyers usually want a discount, and vendors inflate their initial offers accordingly. Credit terms of 30-60-90 days are common. Buyers will often retain 10% of the sales price for major electronic

SALES SERVICE/CUSTOMER SUPPORT

for Literary and Artistic Works, the Madrid System for the International Registration of Marks, and the Patent Cooperation Treaty.

CAMBODIA

There are many specialized trade magazines in Singapore and scores of trade fairs that can be used to promote U.S. goods and services. The major English-language daily newspapers are The Straits Times and The Business Times. They are available at http://www.straitstimes. com and http://www.businesstimes.com. sg. The major Chinese daily is Lianhe Zaobao http://www.zaobao.com. Leads for local advertising and promotional service agencies can be found at http://www.yellowpages. com.sg. Major trade fair organizers include UBM-SES http://www.sesallworld.com/, Reed Exhibition Services http://www.reedexpo. com.sg/, Experia Events http://www. experiaevents.com, and Koelnmesse http:// www.koelnmesse.com.sg.

installed the machine, and it is performing according to specifications.  Typical Product Pricing Structures: Depending on the type of product, importer mark-ups range from 20-40%, while retail mark-ups are often more than 100%. Industrial goods are brought in by stocking distributors, who add on at least 20% before sale to end-users, or by agents whose commissions generally run about 7-10%. These mark-ups are approximate, and will vary widely, depending on the product and the contractual relationship in question.

BURMA

CAMBODIA

TRADE PROMOTION AND ADVERTISING

BRUNEI

INDONESIA

SINGAPORE

SINGAPORE

SELLING U.S. PRODUCTS & SERVICES


WEB RESOURCES

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS

»»LEADING SUB-SECTORS

There are increasing opportunities for Electronics Manufacturing Services (EMS) companies to pursue in various areas such as medical devices and aerospace. Many of the world’s top EMS companies such as Flextronics, Solectron, and Venture are located in Singapore, which is becoming an attractive base of high value-added production activities. Another electronic component technology that is being developed is the Organic Light Emitting Diode (OLED), which is gradually replacing

2015

2016

Total Local Production

25,929

24,225

24,655

24,200

Total Exports

95,711

90,571

87,233

86,900

Total Imports

66,025

88,573

63,728

67,600

Imports from the U.S.

4,241

3,735

4,238

4,700

Total Market Size

-3,756

-3,926

1,150

4,900

Exchange Rates

1.27

1.38

1.38

1.40

- 32 -

- 33 -

VIETNAM

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

2017 (estimated)

THAILAND

2014

PHILIPPINES

http://www.buyusa.gov/singapore http://singapore.usembassy.gov/legal_information.html http://www.enterpriseone.gov.sg http://www.gov.sg http://www.gebiz.gov.sg http://statutes.agc.gov.sg http://www.ida.gov.sg http://www.sg http://www.straitstimes.com.sg http://www.businesstimes.com.sg http://www.zaobao.com http://www.yellowpages.com.sg

Singapore-based electronics manufacturers account for 11% global market share for semiconductor wafer foundry output and 25% global market share for printers. The world’s top three wafer foundry companies, top three sub-contract assembly-and-test companies, and top four fabless IC design companies all have facilities in Singapore. Electronic components for these plants are imported and integrated into products such as mobile phones, digital cameras, hand-held tablets, music players, game consoles, and televisions, which are then mainly exported. According to news articles, the electronics semiconductor sector has been a driving force of the overall manufacturing sector in the first quarter of 2017.   Singapore’s manufacturing sector has emerged as a regional economic powerhouse, contributing at least 20% to the Gross Domestic Product (GDP). A large component of this sector – electronics semiconductors – has attracted substantial foreign investments as well as value-added

output and employment, contributing more than 25% of the manufacturing output. Despite the global economic uncertainty, cost pressures and regional competition, the fall in global oil prices, coupled with local structural shifts towards higher-value production and services, Singapore continues to be a world-class semiconductor hub. It is still the location of choice for multi-national corporations (MNC) to enter new markets, launch products, processes, applications, and technology.

MALAYSIA

MALAYSIA

The business limitations are confined primarily to the professional services such as the legal, accounting and tax services, and engineering and architectural services. Details can be found in the “Investment Climate Statement” section.

»»OVERVIEW

LAOS

PHILIPPINES

LIMITATIONS ON SELLING U.S. PRODUCTS AND SERVICES

SEMICONDUCTORS

INDONESIA

THAILAND

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS

CAMBODIA

http://www.sesallworld.com http://www.reedexpo.com.sg http://www.experiaevents.com http://www.koelnmesse.com.sg http://www.acra.gov.sg http://www.icdnb.com.sg http://www.StopFakes.gov http://www.icpas.org.sg http://www.lawsociety.org.sg/forPublic/FindaLawFirmLawyer/FindaLawFirm.aspx http://iscadirectory.isca.org.sg/ http://statutes.agc.gov.sg/aol/search/display/ view.w3p;query=DocId%3A294c715e-89c848c4-8e14-58b9ea4f1c29%20Depth%3A0%20 Status%3Ainforce;rec=0

BURMA

Its mission is to promote the interests of AmCham members in Singapore and the region by providing insights, advocacy and connections through its programing and publications. AmCham represents its members at the highest levels of government in Singapore and Washington, and advocates on policy issues concerning them.   Its formation was to foster a more comprehensive organization and representation of the business community’s interests in Singapore and abroad. As a “Business Voice and Value Creator”, SBF is committed to advocating key issues that impact the Singapore business community, helping enterprises develop capabilities and venture overseas.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

SELLING U.S. PRODUCTS & SERVICES


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

Singapore Semiconductor Industry Association http://www.ssia.org.sg/

• Supply of equipment such as boring or sinking machinery for upstream and downstream oil and gas, shipbuilding, marine, mechanical and electrical

Association of Electronic Industries in Singapore http://www.aeis.org.sg/

2014

»»OPPORTUNITIES

Singapore is often listed as the leading oil trading hub in Asia (third in the world after New York and London) and amongst the world’s top five oil refining centers. It has a refining capacity of nearly double its rate of petroleum products consumption. It is also a world leader in the construction of exploration and production platforms and FPSOs conversions as well as for jack-up rigs.   Engineering, procurement, and construction of the US$700 million LNG terminal was awarded in late 2009 to a Korean consortium led by Samsung. The first phase was completed in 2013 with the arrival of the first shipment of LNG from Qatar. Future

2015

2016

2017 (estimated)

Total Local Production

85,280

50,061

43,938

58,000

U.S. Commercial Service, Singapore

Total Exports

93,378

60,386

52,483

58,000

Contact: Mr. CHAN Y K, Commercial Specialist Email: Yiukei.Chan@trade.gov

Total Imports

130,417

77,734

60,827

77,300

4,773

5,659

1,809

2,200

Total Market Size

122,319

66,959

72,149

77,300

Exchange Rates

1.27

1.38

1.38

1.40

Imports from the U.S.

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VIETNAM

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

THAILAND

THAILAND

Industry Organizations

»»LEADING SUB-SECTORS

Singapore offers many opportunities for American companies including:

• Supply of tubular products such as casings, tubing, carbon steel line pipes, drill pipes, heavy wall pipes, drill collars, drill stem accessories, and mechanical alloy steel tubes used on derricks

PHILIPPINES

- 34 -

Singapore Economic Development Board https://www.edb.gov.sg

tation such as drilling information systems, drilling monitors, mud logging units, mud monitoring systems, torque gauges, pressure gauges, weight indicators, deadline anchors, valves/actuators, performance testing, and design control systems

MALAYSIA

VIETNAM

Singapore Government Offices

The precision engineering industry, which supports the EMS companies, is an important sector of the Singapore economy. Through the supply of components, tooling, and equipment, this industry provides integral support to the manufacturing sector. Emerging global trends such as rapid urbanization, energy conservation, and ageing populations poses new problems for the Singapore market, which in turn allows for new opportunities for the electronics industry in Singapore. There are four new growth areas that have been identified; they are namely green electronics, bio-electronics, plastic electronics and security. By 2020, the contribution to electronics output from these new growth areas is expected to triple to 30%

• Oilfield equipment that includes instrume

LAOS

Semicon Southeast Asia April 2018 http://www.semiconsea.org/

»»OVERVIEW

Singapore has become one of the most important shipping centers in Asia and is one of the world’s top five oil trading and refining hubs. In addition, Singapore is one of the market leaders for floating production, storage and offloading (FPSOs) conversions and offshore jack-up rigs. Underground caverns for oil storage and a liquid natural gas (LNG) terminal are also being expanded in phases to enhance Singapore’s position as the premier regional center for the oil and gas industry. In view of the significant decrease in oil prices, the growth and imports are expected to be much less promising over the next 6-12 months due to a decrease in oil and gas exploration. However, as the regional hub for Southeast Asia and its friendly business environment, there will be opportunities for U.S. exporters in Singapore especially when the oil and gas industry improves globally.

INDONESIA

»»OPPORTUNITIES

Trade Shows

construction, oxidation additives, and various control systems

CAMBODIA

»»WEB RESOURCES

OIL AND GAS

BURMA

of the electronics output.   The Government of Singapore still expects to greatly expand manufacturing output by 2020 and is aiming to reach a total manufacturing output of US$200 billion and total manufacturing value-added of US$50 billion. More than 20,000 jobs are expected to be created in the manufacturing and the service sectors in the coming years as a result. Hewlett Packard and Texas Instruments which have extensive electronics expertise, have invested nearly US$10 billion combined. Singapore is also a leading manufacturer of enterprise hard disk drives with companies such as Seagate and Hitachi. Over the past few years, the country accounted for half of the world’s enterprise hard disk drives.

BRUNEI

LCD panels.  Leading the growth will be new technology products such as 3D printers, Ultra-High Definition televisions, connected thermostats, unmanned systems (unmanned aerial vehicles, unmanned vehicles, and home robots), internet protocol cameras and wearables such as health and fitness devices and smartwatches. Smart phones, which are driving social media usage in Asia, are also on the increase. These products are expected to double, growing more than 100% year-overyear in recent years.   The wearable device revolution is a key category to watch in the coming years. It is projected that overall wearable unit sales will reach 30 million units and generate in excess of US$5 billion in annual revenue over the next few years. Health and fitness devices are expected to lead unit sales among all wearables with a projected 20 million units. The revenue is expected to surpass US$1.8 billion.

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE

Singapore Government Offices Singapore Economic Development Board

BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

AIRCRAFT AND PARTS »»OVERVIEW

»»LEADING SUB-SECTORS

9,896

9,800

Total Imports

11.857

12,882

12,506

12,700

Imports from the U.S.

7,131

8,744

6,957

7,100

Total Market Size

11,224

12,462

12,614

13,400

Exchange Rates

1.27

1.38

1.38

1.40

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

companies, Singapore has garnered a quarter of the Asian MRO market. Singapore has become the leading aviation hub in AsiaPacific today, contributing over a quarter of the region’s Maintenance, Repair and Overhaul (MRO) output. Leading players such as ST Aerospace and Goodrich carry out comprehensive nose-to-tail MRO services from airframe maintenance to engine overhaul to aircraft modifications and conversion. Singapore is also a center for regional parts distribution and warehousing.   The boom in low-cost travel and a growing web of open-skies agreements are expected to power long-term growth for Asian airlines in the years ahead. As an aerospace hub in the Asia Pacific, Singapore is most definitely going to reap the benefits of this upturn.    In addition to supplying to all aspects of the MRO business, Singapore will see new growth opportunities in the areas of business aviation, regional training, and asset management.

Airport will be expanded to a capacity of 135 million passengers per year by around 2025. A third runway will also be built to handle larger passenger aircraft and is slated to be operational by the early 2020s.   To support the long-term growth of the logistics and aerospace industries, an industrial zone will also be developed, for airfreight and air express operators as well as MRO activities. These developments will offer great opportunities for U.S. businesses to supply the aerospace sector in Singapore.

»»WEB RESOURCES

»»OPPORTUNITIES

Demand for commercial and business aviation is expected to grow, fueled by Singapore’s growth as a global city and the exponential travel trends in the Asia Pacific region. With Terminal 4 due for operation in early 2018 and Terminal 5 in the 2020s, Changi

Trade Shows Singapore Air Show 2018 February 6-11, 2018 http://www.singaporeairshow.com/trade/

Singapore Government Offices Singapore Economic Development Board https://www.edb.gov.sg Civil Aviation Authority of Singapore https://www.caas.gov.sg Defense Science and Technology Agency https://www.dsta.gov.sg/ Changi Airport Group http://www.changiairport.com/corporate.html

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VIETNAM

Singapore’s Maintenance, Repair and Overhaul (MRO) industry is robust. Backed by a large pool of over 100 aerospace

10,004

9,683

THAILAND

Singapore ranks second in our list of top markets for U.S. aircraft parts exports due to the country’s status as a major aircraft maintenance hub. Singapore’s favorable customs regime and its location in a rapidly growing regional aviation market have attracted many firms from the United States and Europe to set up subsidiaries in Singapore. Singaporean maintenance firms such as ST Aerospace and SIA Engineering Company are major global players in their own right. While the growth of aircraft fleets in other Asian countries (like China) and the high cost of doing business in Singapore may challenge Singapore’s dominance in the future, today it remains a solid means of entry to the Southeast Asia market.

9,263

9,054

PHILIPPINES

THAILAND

Contact: Mr. CHAN Y K, Commercial Specialist Email: Yiukei.Chan@trade.gov

8,421

Total Exports

MALAYSIA

OSEA 2018 December 4-6, 2018 http://www.osea-asia.com/

U.S. Commercial Service, Singapore Contact

10,500

Total Local Production

LAOS

Trade Shows

Spring Singapore https://www.iesingapore.gov.sg/

2017 (estimated)

INDONESIA

expansion work (including a second LNG terminal which has been proposed), costing more than US$500 million, is already being planned as Singapore aims to be a future hub for natural gas trading and transshipment in Asia. Once all phases are completed by 2017, the first terminal will be able to handle nine million metric tons per year.   The construction of Very Large Floating Structures (VLFS) for storage of oil and petroleum products is also being explored since land is scarce. Feasibility studies are underway to determine the impact of sea currents and met-ocean conditions according to recent press reports. To be economical, the minimum storage capacity of a VLFS would be 300,000 cubic meters or equivalent to that of a very large crude carrier. It is estimated that it would cost US$150 million or more – the decision to move forward with the issue of a tender (engineering, procurement, and construction) has been postponed till 2018 due to the downturn in the oil & gas sector, but actual construction will commence in 2019-20 at the earliest.

2016

CAMBODIA

PHILIPPINES

Image courtesy of the U.S. Commercial Service Singapore

2015

BURMA

International Enterprise Singapore (IE Singapore) https://www.spring.gov.sg

2014

BRUNEI

(SEDB) https://www.edb.gov.sg

»»WEB RESOURCES

VIETNAM

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

Total Local Production

10,455

Total Exports

19,730

10,395

10,683

10,800

19,739

20,307

Total Imports

19,900

11,723

11,000

12,181

11,200

Imports from the U.S.

4,114

3,317

3,582

3,600

Total Market Size

2,448

1,656

2,557

2,100

Exchange Rates

1.27

1.38

1.38

1.40

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

VIETNAM

VIETNAM

2017 (estimated)

THAILAND

2016

PHILIPPINES

2015

MALAYSIA

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2014

LAOS

»»OVERVIEW A 2016 report published by Lancet medical journal places Singapore in the top ranks for global healthcare, along with Iceland and Sweden. According to the World Health Organization (WHO), Singapore’s healthcare system ranks sixth globally and offers the fourth best healthcare infrastructure in the world. It spends 4% of GDP on healthcare and provides universal coverage for Singaporeans with multiple layers of care. In 2014, a Bloomberg report ranked Singapore first for most efficient healthcare system out of 51 countries while the Economist Intelligence Unit (EIU) ranked Singapore second in the world for best healthcare outcomes. Among its ASEAN peers, Singapore spends the most annually in healthcare

INDONESIA

MEDICAL DEVICES

CAMBODIA

Contact: Mr. NG Haw Cheng, Commercial Specialist Email: Hawcheng.Ng@trade.gov

the continued focus the Singapore government has to grow and enhance the healthcare delivery sector and the positive perceptions associated with American brands in the medical devices and healthcare sector. As regional economies start to enjoy higher economic growth and improvements in healthcare standards and delivery, transshipments through Singapore are expected to rise. A continued increase in exports after 2017 is anticipated. At present, more than 60% of products imported into Singapore are subsequently re-exported.   Medical devices are regulated under the Health Products Act and Health Products (Medical Devices) regulations. Singapore’s Health Sciences Authority (HSA) oversees the system of statutory control aimed to safeguard the quality, safety and efficacy of medical devices available in Singapore. Almost all medical devices are regulated. Class A medical devices supplied in a non-sterile state are exempted, however, Class A sterile, Class B, C, and D medical devices are subject to product registration requirements. Classification rules are adopted from the guidance developed by the Global Harmonization Task Force (GHTF).   ASEAN has been developing a uniform

BURMA

on a per capita basis. It also serves as the healthcare and medical hub of the region and offers Asia’s best healthcare system. The Joint Commission International (JCI) has accredited 22 Singapore hospitals and healthcare facilities. Each year, Singapore draws over 350,000 patients with its high-quality healthcare. According to the International Healthcare Research Centre (IHRC)’s latest study in 2014, Singapore ranked fourth out of 25 countries worldwide in the medical tourism rankings.  Prominent international healthcare and research organizations such as the American Association for Cancer Research, Duke University, Healthcare Information and Management Systems Society, and Joint Commission International have established a presence in Singapore. The research institutes work with scientists here to accelerate drug discovery and develop therapies for unmet healthcare needs.   The government is very committed to Singapore’s healthcare needs and the long term plan is to raise GDP spending

U.S. Commercial Service, Singapore

on healthcare to 8%, up from 4% currently. The Health Ministry’s 2017 budget is $7.4 billion and the government’s projected healthcare spending is expected to rise to $9.6 billion per year by 2020. Singapore has strong fundamentals in healthcare excellence, providing strong infrastructure and universal health coverage. This emphasis on quality care has enabled the country to achieve high life expectancies, fourth in the world, and the lowest infant mortality in the world. Its challenge is that it has one of the fastest aging populations in Asia, which will translate to a greater demand for specialized elderly care amid rising costs.   In 2016, imports of medical equipment and supplies to Singapore increased by 10% over the previous two years. This augurs well for the healthcare sector with the increased spending associated with the establishment of new hospitals and healthcare facilities. U.S. imports of medical equipment and supplies accounted for 30% of market share in 2016 and registered an increase of 8% over the previous year.   Based on available trade figures for 2016 and 2017 to date, U.S. exports of medical equipment to Singapore are expected to increase in 2017. This reflects

BRUNEI

Image courtesy of the Singapore Air Show

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS

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SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

PHILIPPINES THAILAND

THAILAND

MALAYSIA VIETNAM

VIETNAM

LAOS

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INDONESIA

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»»OPPORTUNITIES

Broadly speaking, the opportunities are in personal health management, health screening, disease management, preventive care products, access to homecare resources and support, health IT solutions, data sharing, and advanced technologies that would enable seamless and integrated healthcare. Innovative solutions that offer relative value are sought.   According to Frost and Sullivan, Asia Pacific’s healthcare market is estimated to contribute close to 33% of the global healthcare market and estimated to be valued at $521 billion, with trends in the

medical device industry in Asia mainly centered on imaging, cardiovascular, and healthcare IT. A key driver for the Southeast Asian region is the impending liberalization of the services sector this year under the ASEAN agreement. A 2012 study by Deloitte Centre for Health Solutions indicates that Southeast Asia has the highest private health expenditure of any region in the world, at 63.1% of total health expenditures. This has led to increased private-public sector collaboration in Singapore, Malaysia, and Thailand.   Singapore is renowned for its role as a healthcare hub for the region, treating patients from neighboring Malaysia, Brunei, Indonesia, Thailand, Philippines, and more recently, from the Americas, Europe, and the Asia Pacific.   Government hospitals account for 80% of allhospital beds in Singapore while the private sector accounts for 20%. Under Healthcare 2020, over 4,000 new public hospital and community hospital beds will be added by 2020. Currently, there were an estimated 12,000 hospital beds, equal to a rate of 2.2 beds per thousand people. Three quarters or 9,700 will come from the public sector with the private sector accounting for the rest.   Demand for medical equipment comes from public and private hospitals and clinics. The Health Ministry is the largest consumer, accounting for nearly 70% of local demand. All public and the majority of private sector hospitals are Joint Commission International (JCI) accredited. Parkway Healthcare, the largest private sector healthcare provider in Singapore, is also a significant buyer of medical equipment. More than 80% of local demand is met through imports and there is a premium placed on American-made

CAMBODIA

Image courtesy of the Singapore Tourism Board

research. Another US$10.6 million has been set aside for the development of new clinical services. The aim is to augment Singapore’s medical capabilities in the public healthcare system and position Singapore as the premier regional medical services hub. U.S. exporters who are able to provide cutting-edge technology, laboratory and testing equipment, and services for the healthcare and research communities, will find Singapore a lucrative market.   The elderly, categorized as those over 65 years, currently represents 10.7% of the total population, higher than all the other ASEAN countries. Within the next twenty years, Singapore will experience what is known as ‘hyper-aging.’ Over a quarter of the population will be 65 years and older by 2030. As such, more facilities for the elderly, such as nursing homes and rehabilitation centers, need to be built. The demand for services such as geriatric medicine and rehabilitation medicine are expected to rise as is demand for homecare services. U.S. firms specializing in elder-care products and services will find a robust and growing market in Singapore.

BURMA

»»LEADING SUB-SECTORS

The Singapore government is very committed to Singapore’s healthcare needs and has committed a budget of US$7.4 billion. There will be three shifts in the Health Ministry and these are: Beyond Healthcare to Health; Beyond Hospital to Community; Beyond Quality to Value.   Statistics have shown a rise in the incidence of diabetes in Singapore where approximately 8% of the population is diabetic. The Ministry of Health is looking to arrest this and will dedicate resources to combat it. There are currently more than

400,000 diabetics, costing Singapore over US$740 million yearly. This is expected to rise to US$1.8 billion if the trend is not arrested. A holistic approach encompassing regular health screenings, lifestyle changes, and exercise will be adopted. Opportunities therefore exist for U.S. suppliers of health and wellness products.   The mandate of the Health Ministry is to deliver affordable healthcare, ensuring good medical outcomes, reducing illness and promoting good health and ensuring that the country is resilient against communicable disease threats and civil emergencies. Five years ago, the government announced a US$5.6 billion budget that addressed infrastructure concerns in the short and long term as well as healthcare provision and subsidies for the poor. The three key areas of focus are healthcare infrastructure, healthcare delivery, and managing the associated costs and issues related to an aging population. This budget also includes larger subsidies for surgical implants, the treatment and management of chronic diseases, as well as funding programs to promote healthy lifestyle and active-aging programs. As a result, U.S. exporters of medical devices, preventive and health screening products, and disease management solutions would be able to benefit.   The Singapore government also remains committed to ensuring that the national healthcare system keeps pace with global medical advancements. To keep up with advances in biomedical science and encourage the development of new clinical treatments for Singaporeans, the Ministry of Health, in partnership with A*STAR (Agency for Science, Technology and Research), and several other governmental bodies, will invest US$53 million in clinical and translational

BRUNEI

system for registering and assessing medical devices across the ten member countries. Various ASEAN economies have started adoption of the ASEAN Medical Device Directive (AMDD). This requires ASEAN countries to adopt uniform classification criteria for medical devices. This bodes well for U.S. medical device manufacturers as they will be able to easily access a common medical device market with a market size of more than 600 million people. Adherence to the basic principles of the AMDD in ASEAN will likely only take place in late 2017 or in the next few years.

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS

MOH Holdings (MOHH) http://www.mohh.com.sg/

Health Promotion Board (HPB) https://www.hpb.gov.sg/

APACMed Asia Pacific Medtech Forum 2017 November 7-8, 2017 https://medtechforum.asia/web/teaser

Integrated Health Information System (IHiS) https://www.ihis.com.sg

Agency for Integrated Care (AIC) https://www.aic.sg/

August 29-31, 2018 http://www.medicalfair-asia.com/

Singapore Economic Development Board (SEDB) https://www.edb.gov.sg

MEDLAB Asia Pacific 2018 April 3-5, 2018 http://www.medlabasia.com/ International Dental Exhibition and Meeting 2018 (IDEM) April 13-15, 2018 http://www.idem-singapore.com/ Medical Fair Asia 2018 April 3-5, 2018 http://www.asiahealthexhibition.com/ MEDLAB Asia Pacific 2018 April 3-5, 2018 http://www.medlabasia.com/ International Dental Exhibition and Meeting 2018 (IDEM) April 13-15, 2018 http://www.idem-singapore.com/

U.S. Commercial Service, Singapore Contact: Ms. Luanne Theseira, Commercial Specialist Email: Luanne.Theseira@trade.gov

MOH Holdings (MOHH) http://www.mohh.com.sg/ Integrated Health Information System (IHiS) https://www.ihis.com.sg Health Sciences Authority (HSA) http://www.hsa.gov.sg Health Promotion Board (HPB) https://www.hpb.gov.sg/ Agency for Integrated Care (AIC) https://www.aic.sg/ Singapore Economic Development Board (SEDB) https://www.edb.gov.sg Phar-East 2018 March 1-2, 2018 http://www.terrapinn.com/exhibition/ phar-east/index.stm

THAILAND

Medical Fair Asia 2018 August 29-31, 2018 http://www.medicalfair-asia.com/

Singapore Government Offices Singapore Ministry of Health (MOH) https://www.moh.gov.sg

PHILIPPINES

Image courtesy of the Singapore Tourism Board

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VIETNAM

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Asia Health 2018 April 3-5, 2018 http://www.asiahealthexhibition.com/

MALAYSIA

MALAYSIA

Trade Shows

»»WEB RESOURCES

LAOS

PHILIPPINES

Health Sciences Authority (HSA) http://www.hsa.gov.sg

INDONESIA

THAILAND

Asia Health 2018

CAMBODIA

Singapore Government Offices Singapore Ministry of Health (MOH) https://www.moh.gov.sg

to progressively come on stream between 2020 and 2036.

BURMA

products will find Singapore a good market place.  Singapore will invest in primary care infrastructure such as polyclinics and community health centers. Digital technologies that support the healthcare sector are another area of investment. Singapore’s Ng Teng Fong Hospital, a public tertiary hospital, obtained the coveted HIMSS EMRAM Stage 7 in late 2016, the highest EMRAM level, barely a year after its opening. The National Electronic Health Record (NEHR) project, launched eight years ago, valued at US$144 million is close to becoming a reality with each citizen having his or her own electronic medical record.   Between now and 2025, parts of the Singapore General Hospital, to be renamed the Outram Campus and Community Hospital, will expand with major redevelopment of Singapore’s oldest and largest hospital set to take place from 2025 to 2035. Over the medium term, five new public hospitals and up to twelve more polyclinics will be built by 2030 to ensure that Singapore has adequate healthcare coverage. There are also plans to build new and replacement nursing homes to bring the total to 25 by 2020. Given that the world is facing infectious disease threats due to more global travel and increased connectivity, a new 300-bed hospital for infectious disease is expected to be built by 2018. In addition, a new 12-story, US$135 million National Heart Center building, three times larger than the size of the existing one, is currently being built at the Singapore General Hospital and is scheduled for completion in 2020. Other infrastructure projects include the Woodlands General Hospital and the existing Tan Tock Seng Hospital. These are scheduled

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

DOING BUSINESS IN SINGAPORE


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

2014

2015

Key Websites https://www.imda.gov.sg/ https://www.tech.gov.sg/ http://www.sitf.org.sg/ http://www.atis.org.sg/ https://www.export.gov/Market-Intelligence

U.S. Commercial Service, Singapore Contact: Ms. CHIA Swee Hoon, Commercial Specialist Email: SweeHoon.Chia@trade.gov

2016

2017 (estimated)

1,946

2,288

2,292

1,800

Total Local Production

10,446

10,028

8,590

7,600

Total Exports

10,076

11,613

11,451

10,500

Total Exports

19,034

18,115

16,327

14,800

Total Imports

10,079

9,591

9,470

9,400

Total Imports

12,053

11,456

10,468

10,600

832

666

664

710

Imports from the U.S.

3,464

3,369

2,730

3,400

Total Market Size

1,949

267

311

760

Total Market Size

1.27

1.38

1.38

1.40

Exchange Rates

1.27

1.38

1.38

1.40

Exchange Rates

1.27

1.38

1.38

1.40

Imports from the U.S.

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

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VIETNAM

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

THAILAND

Total Local Production

PHILIPPINES

2017 (estimated)

ConnecTechAsia June 26-28, 2018 http://www.connectechasia.com/

MALAYSIA

2016

Trade Shows

LAOS

2015

»»WEB RESOURCES

INDONESIA

Singapore is a major entrepôt and serves as a major distribution center for companies interested in selling to the region. In 2016, over 96% of telecommunications products imported into Singapore were re-exported for third country consumption. Best prospects for the Singapore market are next generation solutions for broadband, 4G, IPTV, VoIP, Internet of Things (IoT), and Smart Nation Initiatives.

companies interested in participating in Singapore’s ICT projects should review the following websites: https://www.tech.gov. sg/Programmes-Partnerships.

CAMBODIA

2014

»»LEADING SUB-SECTORS

OPPORTUNITIES In December 2016, TPG Telecom Pte Ltd made the winning bid in the New Entrant Spectrum Auction, and was allocated 60 MHz of spectrum. This comprised 20 MHz in the 900 MHz spectrum band and 40 MHz in the 2.3 GHz spectrum for the provision of 4G and International Mobile Telecommunications Advanced services. The new operator is expected to roll out its services in 2018 and this presents U.S. companies a good opportunity to supply their equipment and solutions. In addition, current operators are also seeking new technology as they seek to offer advanced services to their customers, including IoT products such as smart home and telecare applications to the mass market.   Singapore is implementing some of the ideas articulated in its Infocomm and Media 2025 Master Plan, e.g., it is developing a Smart Nation Platform and Heterogeneous Network that will form the infrastructural foundation for Smart Nation, delivering connectivity to “Everyone, Everything, Everywhere, All the Time.” More information on the Master Plan can be found at https:// www.imda.gov.sg/ The Singapore government seeks to partner ICT companies to develop innovative services and solutions to achieve their vision of a smart and connected nation. U.S.

BURMA

THAILAND

»»OVERVIEW

Singapore remains one of the world’s most technologically advanced telecommunications markets, according to BMI. In January 2017, the Singapore wireless population broadband penetration rate was 198.2% while the household residential wired broadband penetration rate was 97.6%. Mobile penetration reached 149.8% and the mobile operators have closed their 2G networks effective April 1, 2017. Telecom statistics can be found at: https:// www.imda.gov.sg/industry-development/ facts-and-figures/telecommunications/ statistics-on-telecom-services   Telecommunications and Internet facilities in Singapore are state-of-the-art, providing high-quality communications with the rest of the world. 3G services were rolled out in 2005, 4G in 2011, and mobile operators introduced 4G+ and LTE-A in 2014. Singapore currently has three main mobile telephony operators, 17 mobile virtual network operators (MVNOs), and 82 Internet Services Providers in Singapore. However, Australian TPG Telecom won the fourth national mobile operator license last year and is expected to roll out its services nationwide in 2018. The U.S. and Singapore have a Mutual Recognition Arrangement (MRA) on telecom

equipment certification, and a list of the recognized U.S. testing and certification agencies can be found at: https://www. imda.gov.sg/regulations-licensing-andconsultations/international-roles/testinglaboratories-and-certification-bodiesrecognised-by-imda   Besides a nationwide broadband network infrastructure, Singapore is well connected by multiple satellite and submarine cable systems with more than 498 terabits per second (Tbps) of potential capacity supporting international and regional telecoms connectivity. It has more than 10.5 terabits per second (Tbps) of international Internet bandwidth connectivity to economies such as the U.S., China, Japan, India, as well as some countries in Europe and ASEAN.

BRUNEI

VIETNAM

TELECOMMUNICATION

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA CAMBODIA MALAYSIA PHILIPPINES THAILAND

2015

Cloud Expo Asia October 11-12, 2017 October 10-11, 2018 http://www.cloudexpoasia.com/ Cloud Security Expo October 11-12, 2017 October 10-11, 2018 http://www.cloudsecurityexpo.com/

2016

2017 (estimated)

Total Local Production

1,946

2,288

2,292

1,800

Total Exports

10,076

11,613

11,451

10,500

Total Imports

10,079

9,591

9,470

9,400

832

666

664

710

Total Market Size

1,949

267

311

760

Exchange Rates

1.27

1.38

1.38

1.40

Imports from the U.S.

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VIETNAM

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

THAILAND

VIETNAM

2014

RSA Conference 2017 July 26-28, 2017 http://www.rsaconference.com/events/ap17

PHILIPPINES

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Trade Shows

MALAYSIA

   Singapore has developed a 10-year Infocomm and Media 2025 Master Plan

»»OPPORTUNITIES

According to BMI, Singapore is an advanced and high-value enterprise market where software and services spending are expected to drive continued growth in total IT spending over the medium term. Singapore also benefits from its regional hub status. BMI forecasts 2017 sales of computer hardware in Singapore to amount to US$1.45 billion and software to reach US$2.14 billion.   The Singapore government announced that it will be spending more than US$1.7 billion on ICT tenders in addition to the US$200 million on ICT projects in the healthcare sector. U.S. companies interested in doing business with the Singapore

LAOS

Image courtesy of the Singapore Tourism Board

»»WEB RESOURCES

INDONESIA

government should register with GeBIZ http://www.gebiz.gov.sg, the Singapore government’s one-stop e-procurement portal where public sector invitations for quotations and tenders are posted. Both local and foreign suppliers are able to search for government procurement opportunities, download tender documents, and submit their bids online. U.S. companies interested in partnering with the government should also review the website: https://www.tech. gov.sg/Programmes-Partnerships

CAMBODIA

»»LEADING SUB-SECTORS

Best prospects include government projects, cyber security, business analytics, data centers, cloud computing, internet of things, artificial intelligence, and other smart nation solutions in mobility, health, education, and fintech.   According to the 2016 Top Markets Report Health IT Country Case Study by USDOC ITA, Singapore was ranked the 5th market for Health IT exports. Singapore continues to be a solid Health IT market, particularly among Asian countries. The city-state recently announced plans to expand its National Electronic Health Record system, first developed in 2010 and in existence since 2011. It is expected to procure an estimated US$200 million in ICT projects in the healthcare sector in FY 2017. Over the next five years, the Ministry of Health (MOH) expects to increase its procurement of IT services and technologies by at least 25%. The Integrated Health Information Systems

(IHiS), the technology arm for MOH plans to invest in co-creating disease prevention and management programs, home diagnostic toolsets, and assistive robots.   Singapore is expected to have a sharp increase in its over-60 population over the next 15 years. Besides high expected growth in the over-60 population, Singapore’s compact geography, highly urbanized society, high per-capita income and widespread use of mobile phones and Internet are other factors that support strong Health IT usage. More information can be found at: http://trade. gov/topmarkets/health-it.asp

BURMA

INDONESIA

»»OVERVIEW

Singapore is one the most wired country in the world connected by a network of fiber optics. The 2016 World Economic Forum Global Information Technology Report ranked Singapore as the most networkready country in the world to leverage ICT for increased competitiveness and well-being. According to latest available government statistics, computer usage amongst all businesses in Singapore is 90% and broadband adoption rate increased to 95% for those companies with 10 or more employees. More than 97% of Singapore homes have broadband access and households showed trends of switching to using Internet-enabled mobile phones and other Internet-enabled devices such as Smart TVs to access the Internet. More information can be found at https://www. imda.gov.sg/industry-development/factsand-figures/.  

that charts the directions the country will take to stay at the forefront of innovation and achieve its vision of becoming a Smart Nation. To unify and speed up the roll out of its smart nation initiatives, the Singapore government has made a series of organizational restructurings, and formed the Smart Nation and Digital Government Group (SNDGG) under the Prime Minister’s Office on May 1, 2017. It is an executive agency comprising staff from the Digital Government Directorate of the Ministry of Finance (MOF), the Government Technology Policy Department in the Ministry of Communications and Information (MCI), and the Smart Nation Program Office (SNPO) and the Government Technology Agency (GovTech).

BRUNEI

LAOS

COMPUTERS

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


Singapore Fintech Festival November 13-17, 2017 http://www.fintechfestival.sg/

IOT Show Asia 2018 April 1-2, 2018 http://www.internetofthingsasia.com/

SINGAPORE BRUNEI BURMA PHILIPPINES THAILAND

Contact: Ms. CHIA Swee Hoon, Commercial Specialist Email: SweeHoon.Chia@trade.gov

»»LEADING SUB-SECTORS

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2,520

2,700

5,439

5,244

5,400

Total Imports

4,662

4,439

4,698

4,700

958

795

768

800

Total Market Size

2,075

1,977

1,975

2,000

Exchange Rates

1.27

1.38

1.38

1.40

Imports from the U.S.

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

Singapore Government Offices

highly sophisticated as the country aims for water independence. Areas of particular interest include filtering and purifying machinery and apparatus, technologies involving wastewater recycling and treatment, and desalination technologies.

Ministry of the Environment and Water Resources https://www.mewr.gov.sg/ National Environment Agency https://www.nea.gov.sg/

»»OPPORTUNITIES

In addition to the environment control equipment, demand for advanced water technology and infrastructure in Singapore also presents commercial opportunities for U.S water technology providers. According to the Public Utilities Board, the agency has plans to increase the country’s desalination and NEWater capacities enough to meet up to 50% of freshwater demand by 2060.

»»WEB RESOURCES

Public Utilities Board https://www.pub.gov.sg/ Energy Market Authority https://www.ema.gov.sg

INDUSTRIAL AUTOMATION »»OVERVIEW

As the regional powerhouse for advanced manufacturing technologies (close to 90,000 are employed in this sector who contribute slightly more than 10% of Singapore’s total manufacturing output) such as industrial automation, Singapore provides an excellent opportunity for U.S. manufacturing companies to enter the ASEAN region. Manufacturing represents a significant component of Singapore’s GDP -- 20% according to Singapore’s Economic Development Board (EDB).   Precision sensors / instrumentation, micro-electrical machining systems

Trade Shows BEX Asia September 12-14, 2017 http://www.bex-asia.com/ Singapore International Energy Week October 23-27, 2017 http://www.siew.sg/ Singapore International Water Week July 8-12, 2018 http://www.siww.com.sg/

- 49 -

VIETNAM

Singapore has invested heavily in research and technology over the last four decades and has become a center of excellence in water resource management. The result is a thriving industry with more than 180 international and local companies active in the market. The water technologies market has been, and will continue to be, large and

2,977

5,999

THAILAND

VIETNAM

U.S. Commercial Service, Singapore

3,412

Total Exports

PHILIPPINES

Key Websites https://www.imda.gov.sg/ https://www.tech.gov.sg/ http://www.sitf.org.sg/ https://www.export.gov/Market-Intelligence

Total Local Production

MALAYSIA

MALAYSIA

June 26-28, 2018 http://www.enterpriseit-asia.com/

2017 (estimated)

LAOS

Enterprise IT

2016

INDONESIA

Seamless 2018 May 3-4, 2018 http://www.terrapinn.com/exhibition/seamless/

Singapore enjoys one of the cleanest urban environments in Asia, including clean air for much of the year. During the summer months, however, slash-and-burn agriculture in Indonesia typically blankets Singapore in thick smog known as “transboundary haze”. The resultant hazardous levels of air pollution have caused notable economic losses in the form of medical expenses, employment absences, and business closures each year. The matter is addressed by the ASEAN Agreement on Transboundary Haze Pollution.    One key focus of air pollution mitigation efforts in the country has been on emissions from the transportation sector. Singapore has adopted Euro 5 standards for new diesel vehicles and will move to Euro 6 for all new gasoline vehicles on January 1, 2018.   In its Nationally Determined Contribution under the December 2015 Paris Climate Agreement, Singapore committed to reduce its emissions intensity by 36% from 2005 levels by 2030 and to peak its emissions around 2030. Singapore has had success in reducing its carbon emissions by switching most of its energy production to natural gas. As of 2014, over 95% of the country’s power was generated by natural gas fired plants.

2015

CAMBODIA

CAMBODIA

Data Centre World October 11-12, 2017 October 10-11, 2018 http://www.datacentreworldasia.com/

»»OVERVIEW

2014

BURMA

INDONESIA

October 10-11, 2018 http://www.smartiotsingapore.com/

ENVIRONMENTAL TECHNOLOGIES (POL)

BRUNEI

LAOS

Smart IoT October 11-12, 2017

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI LAOS MALAYSIA

»»OPPORTUNITIES

 Singapore’s precision engineering activities began some 50 years ago

- 50 -

Trade Shows Asian Robotics Expo November 22-23, 2017 http://robots-expo.com/ Manufacturing Solutions Expo 2017 October 25-27, 2017 http://www.ms-expo.com/ Inside 3D Printing February 2018 http://inside3dprinting.com/

Singapore Industrial Automation Association http://www.siaa.org/ Singapore Manufacturing Federation http://www.smfederation.org.sg/

U.S. Commercial Service, Singapore Contact: Ms. CHAN Y K, Commercial Specialist Email: Yiukei.Chan@trade.gov

LABORATORY AND SCIENTIFIC EQUIPMENT »»OVERVIEW

Singapore will sustain R and D spending at about 1% of GDP. The Research Innovation Enterprise (RIE) 2020 Plan aims to support and translate research into solutions that address national challenges, build up innovation and technology adoption in companies, and drive economic growth. Under the RIE plan over the next four years to 2020, the Singapore government will invest US$13 billion in RandD and innovation activities. This represents an increase of 18% over the previous five-year plan, and signals

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VIETNAM

INDUSTRIAL ROBOTS In 2015, Singapore was the 8th largest

»»WEB RESOURCES

Industry Organizations

THAILAND

ELECTRICAL RELAYS AND INDUSTRIAL CONTROLS In 2015, Singapore was the 7th largest market for this sub-sector, which totaled US$114 million but it has been on the decrease though it is expected to increase again with key infrastructure projects in the transportation sector commencing.

Manufacturing is a key engine of the Singapore economy where precision engineering is the crucial enabler for industries as diverse as aerospace, electronics, chemicals, logistics, pharmaceutical, telecommunications, and offshore engineering. According to the Singapore Government, it is the essential ingredient in the fabrication of the smallest semiconductor chips, to the most cutting-edge of medical devices, and the largest oil and gas drill bits.

Singapore Institute of Manufacturing Technology https://www.a-star.edu.sg/simtech/

PHILIPPINES

PHILIPPINES

ELECTRIC MOTORS AND ACTUATORS In 2015, Singapore was the 9th largest recipient for this sub-sector, which totaled US$118 million but it has been on the decrease due to the current slump in the oil and gas sector. This sector uses a great deal of electric and pneumatic actuators, and it will be another 1-2 years before there is a pick-up again.

Singapore Economic Development Board (SEDB) https://www.edb.gov.sg

MALAYSIA

THAILAND

SENSORS AND INSTRUMENTS In 2015, Singapore was the 5th largest recipient of U.S.-made sensors and instruments, including process control equipment for level metering, which totaled US$90 million in exports. This subsector is expected to do well over the next 1-2 years.

Singapore Government Offices

LAOS

VIETNAM

Singapore ranks highly in the exports of U.S. industrial automation technologies and products. It is expected that exports to Singapore will grow at a slightly faster pace over the next 1-2 years due to the improving economy. From 2009 – 2015, U.S. exports in this sector grew at an average annual rate of 11% and as such, the best prospects are for the following:

http://www.mta-asia.com/

INDONESIA

INDONESIA

CAMBODIA

»»LEADING SUB-SECTORS

MTA 2019 April 2019

CAMBODIA

MATERIAL HANDLING In 2015, Singapore was the 15th largest recipient of U.S.-made material handling equipment including conveyors and elevating apparatuses, which totaled US$16 million in exports. Due to economic slowdown in various Asian countries, there will not be much growth in this subsector over the next 1-2 years.

and there are now around 2,500 companies, ranging from small and medium enterprises (SMEs) to large multinational corporations (MNCs) who provide contract manufacturing services and system integration of automation and robotic solutions. In view of manpower shortages and to increase productivity, these companies are being encouraged to adopt and make use of industrial automation as well as advance manufacturing technologies.   Automation is also seen to be spreading to other industries such as retail, services, and healthcare especially with the convergence of key technologies such as wireless sensors, cloud computing, big data and analytics, as well as an aging population. As such, the Singapore Government has various incentives for companies to upgrade the skills of their workers so as to meet technology advancements in the fields of precision motion, electromechanical modules, and robotics.

BURMA

BURMA

recipient of U.S.-made products such as replacement parts and end-of-arm tooling, which totaled US$13 million in exports. It is expected that there will be strong competition from Japan and Europe.

BRUNEI

(MEMS), smart manufacturing, internet of things and 3D printing which all make use of industrial automation technologies will be critical components of Singapore’s long-term economic growth. In 2014, the U.S. held 19.1% of Singapore’s market share for automation equipment making it the largest partner that year. This was even larger than China or Japan.

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

13,963

14,424

13,900

Total Exports

23,997

23,575

25,192

23,800

Total Imports

17,502

16,449

19,541

17,800

Imports from the U.S.

5,089

4,692

5,446

4,600

Total Market Size

8,711

9,435

8,773

7,800

Exchange Rates

1.27

1.38

1.38

1.40

$US millions (total market size = (total local production + imports) - exports) Data Sources: Singapore Government Trade Statistics

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»»WEB RESOURCES

- 53 -

Trade Shows Phar-East 2018 March 1-2, 2018 http://www.terrapinn.com/exhibition/phareast/index.stm

VIETNAM

VIETNAM

15,206

THAILAND

Total Local Production

PHILIPPINES

2017 (estimated)

MALAYSIA

2016

LAOS

2015

INDONESIA

2014

»»OPPORTUNITIES

Looking ahead, the Singapore government has budgeted US$13 billion in continued support of research, innovation, and enterprise activities till 2020. This year, 2017, marks the first year of this new RIE 2020 plan for science and technology research.   A significant amount is dedicated to developing the advanced manufacturing sector and there is continued support of the existing biomedical RandD infrastructure, integrating multi-disciplinary research and translating basic science into tangible

outcomes.   Considerable resources are being poured into six key research areas, specifically molecular, cellular, and developmental biology, cancer genetics, stem cells and regenerative medicines, immunology and infectious disease, metabolic medicine, and biomedical engineering. Many global companies and Asian enterprises have significant operations in Singapore, including eight of the world’s top ten pharmaceutical companies, all of the top ten medical technology companies, as well as several global skincare and personal care companies. U.S. firms include GE Healthcare, Johnson and Johnson, Amgen, Merck, Baxter, BD, and Procter and Gamble.   Recognizing that Asia is home to half of the world’s population, Singapore is betting on clean technologies as a strategic economic growth area. To achieve this, Singapore has allocated approximately US$580 million to develop five key areas for clean technologies. These are research and development, manpower development, grooming Singapore-based enterprises, branding Singapore’s clean technology industry internationally, and developing a vibrant cleantech eco-system. There are more than 70 water companies present in Singapore and these include U.S. firms such as GE Water and Black and Veach.

CAMBODIA

»»LEADING SUB-SECTORS

Demand for laboratory and scientific equipment comes from industry clusters such as the biomedical sciences, clean technologies (which encompasses environmental and water technologies), electronics, microelectronics, aerospace, petrochemicals, specialty chemicals, marine and offshore engineering, interactive and digital media, data storage, and institutional R and D laboratories. Several of these key

and leading sub-sectors have also attracted substantial new investment.   In the area of biomedical sciences, more than 7,000 researchers carry out research and development for more than 50 companies, universities and private and public sector research institutes. More than US$1.23 billion is spent on biomedical RandD annually. The global medical technology industry is projected to exceed US$300 billion by the end of the year with a significant contribution to this expansion coming from the AsiaPacific market.  The Singapore Agency for Science, Technology and Research (A*STAR) will also establish two model factories by the end of 2017 at the A*STAR’s Advanced Remanufacturing and Technology Center and the Singapore Institute of Manufacturing Technology. These factories aim to encourage collaboration and development of innovative solutions for companies and stakeholders. Manufacturing remains a key pillar of Singapore’s economy making up 20% of GDP. More than 60 A*STAR research scientists and engineers have been seconded to local companies to help support and grow this sector.

BURMA

correspondingly, total imports in 2016 also increased by 18%. However, based on available data, U.S. imports are projected to decrease in 2017. Purchasing cycles for such equipment is between 5-10 years, and as the industry replaces equipment, demand is expected to remain constant.   As Singapore is a transshipment hub, more than 60% of imports are re-exported.   The U.S. is considered a leader in the field of scientific and laboratory instrumentation and there is a strong preference for American manufactured products. With Singapore’s keen focus across a broad spectrum of industries, such as advanced manufacturing, precision engineering, chemicals, and biomedical sciences, exports of American laboratory and scientific equipment is expected to remain strong.

BRUNEI

a strong commitment to R and D and the RIE ecosystem. The four areas of focus are Advanced Manufacturing and Engineering, Health and Biomedical Sciences, Services and the Digital Economy, and Urban Solutions and Sustainability.  These seek to deepen Singapore’s technological capabilities and competitiveness in manufacturing and engineering, advance human health and wellness, leverage the country’s digital capabilities and more. Under RIE2020, there will be an additional US$1.8 billion for “white space” which refers to emerging research, innovation, and enterprise activities. Developing deep RandD capabilities continues to remain a key priority.   In 2000, when Singapore began its push into the biomedical sciences, the medical technology industry was worth US$1.2 billion. Since then, Singapore’s biomedical sciences sector has grown into a sizeable stable of almost 300 companies and businesses. This includes over 30 global medical technology companies that have set up commercialscale manufacturing plants in Singapore.   The United States continues to dominate in the area of laboratory and scientific equipment and accounts for approximately 24% of total imports. Imports from the U.S. increased by 15% in 2016 and

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA

LEADING SUB-SECTORS

»»OVERVIEW

http://www.medlabasia.com/ OSEA/ OGMtech 2018 December 4-7, 2018 http://www.osea-asia.com/

Singapore Government Offices A*STAR (Agency for Science, Technology and Research) https://www.a-star.edu.sg/

U.S. Commercial Service, Singapore

• Cybersecurity • Media and Animation • Hospitality and Tourism • Sports Science and Medicine

MALAYSIA PHILIPPINES

2012

2013

2014

2015

2016

2017

2,875

3,109

3,253

3,038

3,117

2,846

2,580

% increase / decrease from previous year

2.2

8.1

4.6

-6.6

2.6

-8.7

-9.3

4,654

4,994

5,092

4,784

4,856

4,439

4,000

-0.5

7.3

2.0

-6.0

1.5

-8.6

-9.9

Total visas issued including foreign students % increase / decrease from previous year

- 54 -

Education USA Study Fairs https://educationusa.state.gov/centers/ educationusa-singapore-advising-center

- 55 -

Linden U.S. University Fairs http://www.lindentours.com/ AEO Student Recruitment Fairs http://www.aeotour.com

VIETNAM

VIETNAM

Data Sources: U.S. Embassy – Consular Office

U.S. University Fairs

THAILAND

Number of visas issued to Singaporeans

OPPORTUNITIES The Singapore education system is well known for its quality, resulting in a strong demand from students in the region to study here. U.S universities, in addition to recruiting full-time students (both local and overseas) to study in the United States, may want to consider offering their external degree and executive education programs in Singapore to Singaporeans as well as international executives working in the region. However, simply having proper recognition and/or accreditation in the foreign institution’s own

PHILIPPINES

THAILAND

2011

»»WEB RESOURCES

MALAYSIA

• Business Analytics and Digital Economy

LAOS

LAOS

Contact: Ms. Luanne Theseira, Commercial Specialist Email: Luanne.Theseira@trade.gov

INDONESIA

Singapore Economic Development Board (SEDB) https://www.edb.gov.sg http://www.smfederation.org.sg/

country is only a starting point for approval for a foreign institution seeking to offer programs or courses in Singapore.  In addition to meeting Singapore’s standards, “national ranking” appears to be a key criterion for approval. The Council for Private Education was set up to regulate this new Private Education Bill which was passed in November 2009, and as of 2015, they have completed the evaluation of all existing private education institutions (PEIs) and foreign degree programs that are offered in Singapore. According to industry sources, the number of PEIs has been reduced to a quarter of what it used to be.   U.S. universities and colleges should also consider the large number of foreign students studying at the high school and polytechnic levels in Singapore especially since 50,000 foreign students (mainly from Malaysia, Indonesia, Thailand, Vietnam, China, India, and South Korea) study in Singapore. These foreign students would have passed the necessary background checks and also have a reasonably good command of English after studying in Singapore.

CAMBODIA

Singapore is home to the top two universities in Asia: The National University of Singapore is the top university in Asia while Nanyang Technological University is second according to Quacquarelli Symonds' (QS) 2015 annual ranking of Asian universities. The OECD’s Program for International Student Assessment ranks Singapore’s public schools as among the best globally. Singapore emphasizes, supports, and values higher education as well as human resource development and skills upgrading. Many government agencies and private sector companies also offer full scholarships for top students to pursue their undergraduate and graduate studies in foreign universities such as Australia, the United Kingdom, and the United States. An increasing number of adult workers are also encouraged to upgrade their skills to be more knowledgeable in a globalized and digital economy.

There are currently close to 5,000 Singaporeans (excluding exchange students) pursuing tertiary education in the U.S.; twothirds are undergraduates and a third are graduate students.   U.S. universities and colleges will find a receptive market in Singapore, provided they are willing to invest in long-term branding and marketing with accredited programs in disciplines that offer strong career growth and high income potential. Apart from the traditional disciplines such as engineering and life sciences, the following degree courses are becoming increasingly important and are expected to see increased demand from Singaporean and third-country students studying in Singapore.

BURMA

CAMBODIA

EDUCATION

MEDLAB Asia Pacific 2018 April 3-5, 2018

BRUNEI

INDONESIA

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE

Singapore Government Offices

BRUNEI LAOS

INDONESIA

CAMBODIA

BURMA

2017 (estimated) 174.9

182.5

157.3

173.1

Total Exports

8.3

7.5

7.1

6.95

Total Imports

10,911

9,840

9,357

9,200

Imports from the U.S.

965.3

864.9

831.5

843.6

Total Market Size

11,085

9,989

9,523

9,300

Exchange Rates

1.27

1.38

1.38

1.40

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VIETNAM

Data Sources: Global Trade Atlas, AVA

FRESH VEGETABLES Despite strong competition from neighboring countries with their lower labor and transportation costs, prospects for U.S. fresh vegetables are still attractive due to solid demand for U.S. products and ongoing health trend.   U.S. products tend to gravitate toward the premium market, where quality is more of

THAILAND

THAILAND

2016

PHILIPPINES

2015

MALAYSIA

2014

LAOS

MALAYSIA

»»OVERVIEW

INDONESIA

DAIRY PRODUCTS In general, prospects are bright for U.S. dairy product sales to Singapore due to steady economic conditions, middle class expansion, dietary pattern shifts, growing food manufacturing industry, and healthier lifestyles, which acknowledge dairy products’ role in health and nutrition. Albeit a decrease in sales across-the-board, the United States was still mostly the fourth largest supplier of dairy products in 2016 while Australia and New Zealand are strong competitors.   Some dairy products tend to perform better than others. According to Euromonitor, cheese registered retail value growth of 3% in 2016, slightly lower than the review period average due to increasing category maturity. Essentially, there are two distinct consumer bases for cheese/cheese products: those who

As a small country, Singapore has limited agricultural land and domestic food production. Agriculture contributes less than 1% of the country’s GDP per capita and 1.3% of labor force by occupation in 2016. Singapore produces mainly leafy vegetables and beansprouts, all for local consumption. With a total landmass of 1,465 hectares (3,620 acres), its six Agro-technology parks, comprising of 200+ farms, produce a diverse range of products including livestock, eggs, vegetables, fruits, orchids, and aquarium fish and food. Singapore is a major exporter of some 500 ornamental fish species, and cut orchids that are exported to more than 30 countries including the United States, Japan,

Total Local Production

VIETNAM

»»LEADING SUB-SECTORS

AGRICULTURE BEST PROSPECT SECTORS

FRESH FRUIT The U.S. continued to dominate the fresh fruit market in 2016 due to price competitiveness, quality, and promotional support provided by U.S. suppliers, brand recognition, and supply reliability. Despite a decrease of 2.17% compared to 2015, the U.S. still registered a healthy US$83 million in sales of fresh fruit last year. In addition, Singapore’s highly developed cold chain distribution system helps U.S. fruit prospects. The top U.S. fresh fruit from 2012 to last year were grapes, oranges, strawberries, and apples. The U.S. faces strong competition from China, Malaysia, Australia, and South Africa.   Local consumers, in general, highly regard U.S. fresh fruit quality. Higher income also creates more demand for certain premium air-flown fruit such as strawberries, plums, and avocados. Local consumers are receptive to U.S. fresh fruit promotional programs and attractive packaging, and educational materials. U.S. exporters have excellent opportunities in the main retail channels of supermarkets, hypermarkets, and convenience stores. The fresh fruit market is competitive, with extremely price-sensitive retailers and consumers.

CAMBODIA

PHILIPPINES

Contact: CHAN Y K, Commercial Specialist Email: Yiukei.Chan@trade.gov

international hotel chains and restaurants; and international brands dominate the sector - including popular U.S. brands.

BURMA

U.S. Commercial Service, Singapore

Ministry of Education https://www.moe.gov.sg/

trade up to more expensive unprocessed cheese for healthy and quality reasons; and those who remain price sensitive. Because customers’ interests in cheese continue to grow, the retail value growth sales of cheese is expected to remain robust.   Fortified/functional milk products characterized new product launches in 2016. These launches reflected increasing consumer demand for healthier and valueadded products. They also indicated a strong trend toward making drinking milk products more “premium” as a growth strategy in a mature product category. For example, Fonterra brand added a black sesame flavor to its Anlene brand; Nestle introduced Milo Nutri G- which combines Milo with whole grains; and regional brand FandN launched a reformulated version of its Magnolia Plus Oats. Milk products are considered dietary staples and thus the products’ retail value growth are expected to remain stable.   Yoghurt products are considered both nutritious and healthy, but they are increasingly in the mature product category. However, with the on-going trend of eating healthy, as long as companies keep focusing on new flavor development and better fortification, this would likely help to retain and reinvigorate consumer interest in yoghurt products.   Breakfast cereal continued to do well in 2016. In April last year, Singapore’s Health Promotion Board launched a campaign to support increased consumption of whole grains, including breakfast cereal, in an attempt to reduce the risk of diabetes among Singaporeans. The campaign helped to raise the overall profile of whole grains across food categories, and has had a positive impact on sales of breakfast cereal. Cereal is also a common breakfast item for most

BRUNEI

Greece, and Canada.   Due to its limited agricultural land and resources, Singapore is almost entirely dependent upon imports for all of its food requirements. There are no import tariffs or excise taxes for all food and beverages, except for alcoholic beverages and tobacco products. A Goods and Services Tax (GST) of 7% is levied for all goods and services at the point of distribution.

Council for Private Education https://www.cpe.gov.sg/

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


PHILIPPINES

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

MALAYSIA THAILAND

THAILAND

LAOS VIETNAM

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INDONESIA

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PORK According to USDA’s Livestock and Poultry: World Markets and Trade, U.S. pork production is forecast up nearly 5% in 2017 as producers increase supplies in anticipation of strong domestic demand and higher exports. Exports are forecast up to 8% at 2.6 million tons. Lower prices are expected to boost shipments to foreign markets too. The projected increase in U.S. production in 2017 is attributed to several factors: increased producers’ profits and lower feed prices (as a result of record harvest of soybeans and corn in 2016 that have spurred hog production to increase globally); U.S. packers’ added capacity; and strong demand from China.   In Singapore, U.S. pork/pork products and offal faced strong competition in 2016 from Brazil, Australia, Netherlands, China, and Spain. While U.S. pork’s sales went down in 2016 by more than 51% at US$14 million, the long terms prospects in Singapore are relatively good as pork is a major protein food staple for the majority of the population, and good prospects in high-end outlets for U.S. pork where consumers pay premium price

CAMBODIA

SNACKS The snack sector in Singapore is dominated by products from Malaysia and international brands manufactured in ASEAN and China.

There is high competition for retail shelf space especially among chocolate producers. However, there is still room for growth for U.S. products; in particular they have strong brand recognition. In 2016, the U.S. was the third largest supplier at $37 million; and the top U.S. selling snacks were bread, pastry, cake (one category), potatoes, and nuts.   The demand for sweet and savory snacks is expected to remain robust in years to come, due to Singaporeans’ rising disposable incomes, increasingly busy lifestyles, and growing tendency of Singaporeans to snack. New launches and promotional marketing activities also help to sustain demand, including new brands, product types, and flavor variants. There is also a growing demand for higher quality and more expensive snack products. The increasing popularity of social media generates demand for snacks.   According to Euromonitor, packaged food manufacturers (including snack producers) were tapping into the ongoing health and wellness trend as a key focus area in 2016.

BURMA

a factor. Top U.S. selling fresh vegetables in 2016 were potatoes, asparagus, celery, and lettuce. While there is price sensitivity on more expensive products such asparagus, purchases for asparagus actually increased by 4.05% for the 2016/2015 period.   Singapore’s vibrant and dynamic food service sector has led to rapid growth in imported temperate climate vegetables. Key supermarket chains also offer imported vegetables from the United States.   Rising tourism in recent years and the large number of expatriates living in Singapore have led to the increased demand for imported vegetables. Imported vegetables should continue to grow by 6% during the next five years. According to Euromonitor, the Asia Pacific region accounted for nearly 81% of the global vegetable consumption (2015 figure).

WINE According to Euromonitor, wine is predicted to record a 5% total volume Compound Annual Growth Rate (CAGR) over the forecast period, generating 15 million liters (3.9 million gallons) in sales in 2020. Wine sales have been growing steadily in the last few years due to increased demand and broadness of the market. Consumers in Singapore enjoy various types of wines. The increasing number of “specialty” wine shops also reflects growing demand.   France dominates the wine market by more than 69%, followed by Australia, Italy, the United Kingdom, and the United States. While it is growing, the U.S. market share in the overall market is still quite low (it was number five in the global import ranking in 2016) due to Singaporeans’ lack of familiarity and awareness of U.S. wines. U.S. wines have greatest potential in the mid-tier range as French wines dominate the premium market with their broad range of products and high profile promotions; and Australian wines dominate the retail market with their broad range of products from mass market to premium, and have strong distribution channels. According to Euromonitor, Pernod Ricard led wine with 9% of total volume sales given its brand strength; and consumers can easily find Jacob’s Creek in foodservice and retail channels in Singapore.   Singaporeans are generally well educated

when it comes to drinking wine and tend to follow global trends. Their emphasis on matching wine and food has prompted them to try wines from different countries. Also, the younger generation tends to experience wine drinking from an early age at social gatherings. Thus, retail sales of wine are expected to record positive and stable growth.   U.S. wines have good quality recognition, and the growing premium dining sector, and growing number of wine shops ensure potential for U.S. wine sales. Singapore also serves as an important transshipment point for sales to neighboring countries.

BRUNEI

With the increasing pervasiveness of the Healthier Choice Symbol on products, manufacturers were taking advantage of enhanced fortification and more specific health claims as a key marketing strategy in gaining value share for their products and this trend dominated new product developments in the industry last year.

Image courtesy of the Singapore Tourism Board

VIETNAM

SINGAPORE

SINGAPORE

LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS

Singapore Manufacturing Federation (SMF) http://www.smfederation.org.sg/ Singapore Business Federation http://www.sbf.org.sg/ Singapore Fruits & Vegetables Importers & Exporters Association (SFVA) http://www.singaporefva.com/ Singapore Chefs Association (SCA) http://www.singaporechefs.com/

MALAYSIA

Restaurant Association of Singapore (RSA) http://ras.org.sg/ Singapore Hotel Association (SHA) https://www.sha.org.sg/

PHILIPPINES

U.S. Department of Agriculture (USDA) https://www.usda.gov/

THAILAND VIETNAM

- 60 -

Agri-Food and Veterinary Authority of Singapore (AVA) https://www.ava.gov.sg/

LAOS

MALAYSIA

»»WEB RESOURCES

INDONESIA

PHILIPPINES

Contact: Ms. Ira Sugita, Agricultural Specialist Email: Ira.Sugita@fas.usda.gov Contact: Ms. Alice Kwek, Agricultural Marketing Specialist Email: alice.kwek@fas.usda.gov

CAMBODIA

Due to scarce agricultural land and resources, Singapore imports nearly 90% of its food products from abroad and this, in turn, generates a vibrant and diverse retail foods market, with an assorted range of food products, from basic to high-end organic foods. U.S. products have gained traction in recent years, but competition is fierce. The United States was the fourth largest supplier at US$872 million in 2016 and with a market share of 8%, behind Malaysia, Indonesia, China, and Australia at number five. The U.S. is a major exporter of fresh fruits, dairy products, breakfast cereals, meat products, snack foods, and pet food.  Growth in consumer spending for consumer goods and food and beverages is expected to stay strong in 2014-18, at an average increase of 5% in local currency terms. According to the Singapore Department of Statistics and Research, as of December 2016, retail sales of supermarkets have grown by 1.2% month-on-month and 0.8% year-on-year. Despite the weaker global economic climate and increased competition from online grocers, experts expect strong sales at supermarkets over the next few years due to the effective marketing strategies adopted by leading supermarket chains; higher prices for goods; more willingness to spend on quality; more people choosing to dine at home; and a rising interest in cooking due to popularity of cooking shows on television and social media.   Singapore is at the crossroads of major air and sea routes in the Asia Pacific region and serves as a hub and major transshipment center for much of the Southeast Asian region and Indian subcontinent. Singapore’s

U.S. Department of Agricuture, Singapore

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»»Opportunities

important role in regional trade is demonstrated by the fact that re-exports comprise 45-50% of total exports. The country’s strategic location also contributes to Singapore’s position as a regional food showcase and headquarters for many major food and agricultural multinationals.

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for higher quality food products.

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LEADING SECTORS FOR U.S. EXPORTS & INVESTMENTS

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All medical devices and medicinal products, prescription and over-thecounter pharmaceuticals imported or sold in Singapore are required to be licensed by the Health Sciences Authority. The onus of applying for a product license rests with the license holder, i.e., a locally registered company that is responsible for the safety, quality, and efficacy of the product. If U.S. companies have concerns regarding product licensing, they should contact the Health Sciences Authority http://www.hsa.gov. sg or ask a potential distributor to submit samples to the Health Sciences Authority.

»»Anti-dumping and Countervailing Opportunities

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Singapore adheres to the WTO and GATT and provisions for anti-dumping, and countervailing duties are covered under Chapter 65B of the Countervailing and AntiDumping Duties Act. http://statutes.agc.gov. sg Singapore is part of an informal group of fifteen participating countries known as

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»»Medical and Medicinal Products

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Licensing requirements are mandatory for importers and their procedures are fairly straightforward. The details can be found on AVA website: https://www.ava.gov.sg/ explore-by-sections/food/bringing-foodinto-singapore-and-exporting/commercialfood-imports

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Singapore is a signatory to the WTO Agreement on Government Procurement. The U.S.-Singapore FTA provides increased access for U.S. firms to Singapore’s central government procurement. U.S. firms generally find Singapore to be a receptive, open, and lucrative market. The Singaporean government procurement system is considered by many American firms to be fair and transparent. However, some U.S. and local firms have expressed concerns that government-owned and government-linked companies (GLCs) may receive preferential treatment in the government procurement process. Singapore denies that it gives any preferences to GLCs or that GLCs give preferences to other GLCs. Procurement recommendations are made at the technical level and then forwarded to management for concurrence. Bidders should work closely with the project manager to determine the relative importance of decision criteria such as technical capability and price. Bidders must meet the specifications set out in the tender. Post mortem hearings or meetings for losing bidders are not required or common. Government procurement regulations are

»»Food Products

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»»Restrictions on Selling to the Government of the Country

IMPORT LICENSING REQUIREMENTS

CAMBODIA

Singapore maintains one of the most liberal trading regimes in the world, but U.S. companies face several trade barriers. Singapore maintains a tiered motorcycle operator licensing system based on engine displacement, which, along with a road tax based on engine size, adversely affects U.S. exports of large motorcycles. Singapore also restricts the import and sale of nonmedicinal chewing gum. For social and/or environmental reasons, it levies high excise taxes on distilled spirits and wine, tobacco products, and motor vehicles.   Services barriers include sectors such as pay TV, audiovisual and media services, licensing of online news websites, legal services, banking, and cloud computing services for financial institutions. Details can be found in the USTR Report on Foreign Trade Barriers that is available online at https://ustr. gov/sites/default/files/files/reports/2017/ NTE/2017%20NTE.pdf   While Singapore’s Agri-Food and Veterinary Authority (AVA) follows OIE and Codex guidelines, AVA can be overly strict and risk averse; and this has generated several ongoing trade barriers issues- mostly SPS with the United States. AVA requires health certification for a wide range of uncooked meats and shellfish; food inspectors regularly pull samples off the shelves of retail stores for laboratory testing of preservative and additives; and all meat imports are visually inspected and subjected to regular testing for salmonella / other micro bacteria. Regarding

Pathogen Reduction Treatments (PRT), AVA now allows nine instead of eight out of the 41 antimicrobial washes currently allowed in the United States.   As for U.S. pork and pork products, AVA requires U.S. fresh and chilled pork products to be tested for trichinae even though Trichinella spiralis in U.S. commercial swine rarely shows up as U.S. pork producers practice stringent biosecurity protocols. The Trichinella testing is both expensive and time consuming, and thus creates a barrier to international trade. AVA also imposes strict shelf life requirements on chilled, frozen, and processed meat and poultry products that limit the time after slaughter/ manufacture that a product must enter Singapore.  The USDA and AVA had concluded discussions on U.S. beef that allows for a greater market access and range of U.S. beef products to Singapore. As of June 2015, these include bone-in, fillets and a diverse variety of processed beef products. Prior to this, Singapore restricted U.S. beef to only boneless beef from cattle less than 30 months of age. The U.S. was officially categorized by the World Organization for Animal Health (OIE) as negligible risk for BSE in 2013. For beef offal and processed products, added requirements and some restrictions still apply; and thus, establishments are required to register and send pre-approval documentation to AVA first prior to export. After the recent successful discussion between APHIS and AVA, the temporary bans of U.S. poultry due to HPAI outbreaks

contained in Instruction Manual 3, available from the Ministry of Finance. The Singapore Government also advertises its tenders on its website at https://www.gebiz.gov.sg/.

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TRADE BARRIERS

have been scoped down from state to county level; and for LPAI outbreaks, the bans have been reduced from county level to 10 km radius around the affected premises.   There are no restrictions on foreign ownership of business in Singapore, except for national security reasons and in particular areas such as air transportation, public utilities, newspaper publishing, and shipping. Singapore is an open economy and encourages trade and investment into the country.

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“Friends of Anti-Dumping Negotiations” (FANs) who believe that the existing AntiDumping Agreement should be improved to counter, what they see as an abuse of the way anti-dumping measures can be applied.

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Labels are required on imported food, drugs,

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LABELING/MARKING REQUIREMENTS

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The import of trade samples that is below US$275 is not subject to payment of duty and/or GST. In addition, no permit is required for their import. Bona fide trade samples (excluding liquors and tobacco) may be imported for the following purposes: solely for the purpose of soliciting orders for goods to be supplied from abroad; for demonstration in Singapore to enable manufacturers in Singapore to produce such articles to fulfill orders from abroad or by a manufacturer for the purpose of copying; and for testing or experimenting before producing such articles in Singapore. More information can be found at https://www.customs.gov. sg/businesses/importing-goods/importprocedures/importing-trade-samples

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55 Newton Road Revenue House Singapore 307987 Tel: +65 1800 356 8633 (General Helpline) Fax: +65 6351 3553 Website: https://www.iras.gov.sg

»»Bona Fide Trade Samples

MALAYSIA

Inland Revenue Authority of Singapore Comptroller of Goods and Service Tax

Companies must make an inward declaration for all goods imported into Singapore. All imports require an import permit although this is largely a statistical requirement for most goods. Details can be found at https://www.customs.gov.sg/businesses/ importing-goods/import-procedures/ types-of-import-permits

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Quarantine measures are not a major issue for plant/vegetable producers. As long as the producers follow the Control of Plants rules –i.e. their vegetables and fruit do not contain any prohibited pesticide; or level of pesticide exceeding the prescribed levels specified in the Ninth Schedule of the Food Regulations/ recommended by Joint FAO/WHO Codex Alimentarius Commission, they are free to market their products in Singapore. For more information and help with trade barriers, please contact:

IMPORT REQUIREMENTS AND DOCUMENTATION

liquors, paints and solvents and must specify the country of origin.  A food label should contain core information such as the prescribed food name, list of ingredients, mandatory warning, advisory statements or allergens declarations, net weight or volume, date mark, nutritional information panel, instructions for use or storage, country of origin, the name and address of the business and manufacturer and importer. Repackaged foods must be labeled to show (in English) the appropriate designation of food content printed in capital letters at least 1/16 inch; whether foods are compounded, mixed or blended; the minimum quantity stated in metric net weight or measure; the name and address of the manufacturer or seller; and the country of origin. Illustrations must accurately describe the true nature or origin of the food. Foods having defined standards must be labeled to conform to those standards and be free from added foreign substances. Packages of food described as “enriched”, “fortified”, “vitaminized” or in any other way that implies that the article contains added vitamins or minerals must show the quantity of vitamins or minerals added per metric unit. More information can be found at: https:// www.ava.gov.sg/explore-by-sections/ food/labelling-packaging-information/ labelling-guidelines-for-food-importersmanufacturers.  There are two levels of labeling requirements for medicinal products. Administrative labeling requirements are not statutory requirements and are specified in the Health Sciences Authority’s Guidance on Medicinal Product Registration in Singapore. Compliance is checked during the product registration process, prior to granting of marketing approval. For legal labeling

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»»Any Quarantine Measures for Agricultural Products

IMPORT TARIFF Singapore is generally a free port and an open economy. More than 99% of all imports into Singapore enter the country duty-free. For social and/or environmental reasons, Singapore levies high excise taxes on distilled spirits and wine, tobacco products, motor vehicles and petroleum products.   Singapore levies a 7% Goods and Services Tax (GST). For dutiable goods, the taxable value for GST is calculated based on the CIF (Cost, Insurance, and Freight) value, plus all duties and other charges. In the case of non-dutiable goods, GST will be based on the CIF value plus any commission and other incidental charges whether or not shown on the invoice. If the goods are dutiable, the GST will be collected simultaneously with the duties. Special provisions pertain to goods stored in licensed warehouses and free trade zones. See https://www.iras.gov.sg and https:// www.customs.gov.sg/ for more information.

55 Newton Road #10-01 Revenue House Singapore 307987 Tel: +65 6355 2000 Fax: +65 6250 8663 Website: https://www.customs.gov.sg/

CAMBODIA

Products banned in Singapore include what the local authorities term “emerging tobacco products” and these include smokeless cigarettes and dissolvable tobacco or nicotine. This is seen as a pre-emptive measure to protect public health. For food products, product bans are usually related to Avian Influenza (AI) outbreaks or poisonous substances/toxins found in products. While the AI outbreaks are mostly SPS in nature, however the negative effects have largely been mitigated by the scoping down of bans for Highly Pathogen Avian Influenza (HPAI) and Low Pathogen Avian Influenza (LPAI) outbreaks. Other product bans are usually a result of very rare contaminations/outbreaks; and they are typically one-off incidents such as the listeria incident affecting apples.

Email: ECCommunications@trade.gov Website: http://trade.gov/enforcement/

Singapore Customs

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»»Product Bans

International Trade Administration Enforement and Compliance (202) 482-0063

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U.S. EXPORT CONTROLS The United States imposes export controls to protect national security interests and promote foreign policy objectives. The United States also participates in various multilateral export control regimes to prevent the proliferation of weapons of mass destruction and prevent destabilizing accumulations of conventional weapons and related material. The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) administers U.S. laws, regulations and policies governing the export and reexport of commodities, software, and technology (collectively “items”) falling under the jurisdiction of the Export Administration Regulations (EAR). The primary goal of BIS is to advance national security, foreign policy, and economic objectives by ensuring an effective export control and treaty compliance system and promoting continued U.S. strategic

technology leadership. BIS also enforces anti-boycott laws and coordinates with U.S. agencies and other countries on export control, nonproliferation and strategic trade issues.   BIS is responsible for implementing and enforcing the EAR, which regulate the export and reexport of items with chiefly commercial uses that can also be used in conventional arms, weapons of mass destruction, terrorist activities, or human rights abuses; and less sensitive military items; including “production” and “development” technology.   BIS’s Export Administration reviews license applications for exports, reexports and deemed exports (technology transfers to foreign nationals in the United States) subject to the EAR. Through its Office of Exporter Services, Export Administration also provides information on BIS programs, conducts seminars on complying with the EAR, provides guidance on licensing requirements and procedures, and presents an annual Update Conference on Export Controls and Policy as an outreach program to industry. EA’s Office of Technology Evaluation analyzes U.S. export data on items subject to the EAR, BIS license application data, and global trade information to assess data trends. OTE’s data portal provides excerpts from statistical reports, along with data sets to enable the public to perform analyses of exports and licensing on its own https://www.bis.doc. gov/data-portal   U.S. exporters should consult the EAR for information on how export license requirements may apply to the sale of their goods. If necessary, a commodity classification request may be submitted in order to obtain BIS assistance in determining how an item is controlled (i.e., the item’s classification) and the applicable licensing

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as manufacturers, installers, suppliers and repairers of weighing and measuring instruments may apply to be designated by SPRING to handle the verification of weighing and measuring instruments for trade use. More information on the ACCURACY Label can be obtained from: www.spring.gov.sg/ wmo.   Telecommunication equipment imported for use in Singapore is subject to “Type Approval” by the Infocomm Development Authority of Singapore. More information can be obtained from: https://www.tech. gov.sg/IDA.html.   For the construction industry, the Building and Construction Authority uses the Construction Quality Assessment System (CONQUAS) to objectively rate building works. Details are available at: https://www. bca.gov.sg/.

CAMBODIA

or the packaging. The “SAFETY Mark” is unique and traceable to the registrant and the registered models. More information on the registration for the SAFETY Mark can be obtained from: https://www.spring.gov.sg/ Building-Trust/Raising-Confidence/Pages/ raising-confidence-overview.aspx.   As the Safety Authority, SPRING also administers the Consumer Protection (Consumer Goods Safety Requirements) Regulations (CGSR) to enhance the safety of general consumer goods in the household. Such consumer goods include toys, children’s products, apparel and furniture. These regulations bring the safety of Singapore’s consumer goods in line with internationally accepted standards. There is no approval needed from the Safety Authority. The authority carries out regular market surveillance to protect consumers against unsafe consumer goods. More information on CGSR can be obtained from: www.spring. gov.sg/CGSR.   The “ACCURACY Label” covers weighing and measuring instruments intended for trade use. In Singapore, all weighing and measuring instruments used for trade purposes (like price computing scales in supermarkets, baggage weighing machines at airports and seaports as well as fuel dispensers at petrol stations) are regulated under the Singapore Weights and Measures Act and Regulations. Before an ACCURACY Label can be affixed on the instrument, it will first need to be pattern registered with SPRING. Thereafter, every individual weighing or measuring instrument will need to be verified fit for trade use and affixed with a tamper-proof seal and the ACCURACY Label by SPRING-appointed Authorised Verifiers (AVs).   Competent private sector bodies such

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requirements, these are stipulated in the legislation related to medicinal products regulation in Singapore and are subject to the Health Sciences Authority’s surveillance program. The labeling requirements include the name of the active ingredient, quantitative particulars, product license number and name and address of the dealer. More information may be obtained at http://www.hsa.gov.sg/content/dam/ HSA/HPRG/Useful_I nformation_for_ Applicants/Legislation/MEDICINES%20 (LABELLING)%20REGULATIONS.pdf   Labeling and advertising legislation also applies to the sale of vitamins and dietary supplements. Generally, labeling laws require that: 1) the composition of the products is disclosed in English, 2) labels/packaging materials not contain any references to diseases/conditions as specified in the schedule to the Medicines (Advertisement and Sale) Act http://statutes.agc.gov.sg/ aol/home.w3p; and 3) the advertising/ sale promotion of the product in the public media be approved by the Health Sciences Authority.   As the national Safety Authority for 45 categories of Controlled Goods as well as the Weights and Measures Authority, SPRING administers two marks, namely, the SAFETY Mark and the ACCURACY Label.   The “SAFETY Mark” is intended for selected electrical and electronic products as well as gas appliances which are sold to consumers for use in Singapore households. The “SAFETY Mark” helps consumers to identify registered Controlled Goods. All registered Controlled Goods must be tested to specific international and national safety standards and certified safe by designated product certification bodies. The products are individually marked with the “SAFETY Mark” either on the product

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CUSTOMS, REGULATIONS & STANDARDS


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Tel: (949) 660-0144 Fax: (949) 660-9347

TEMPORARY ENTRY

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A foreign exhibitor may import exhibition goods into Singapore using an ATA carnet. When the exhibitor arrives in Singapore, the carnet must be produced together with the goods to Customs at the entry point for verification and endorsement. When goods covered by a carnet are taken out of Singapore, the foreign exhibitor must produce the carnet together with the goods to Customs at the exit point for verification and endorsement. GST will be recovered from the carnet holder on any item that is unaccounted for. For more information on Temporary Importation for Exhibition, Auction and Fairs or Temporary Import Scheme, please contact the following or visit https://www.customs.gov.sg/businesses/ impor ting-goods/temporar y-impor tscheme

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TEMPORARY ADMISSION (ATA) CARNET

PHILIPPINES

Goods may be temporarily imported under the Temporary Import Scheme for a period of six months and for purposes such as repairs, testing and stage performances, auctions, displays, exhibitions or other similar events without the payment of duty and/or GST. A banker’s guarantee is required under the Temporary Import Scheme. The temporary imports are covered by a Customs Inward Permit or a Carnet. Goods temporarily imported must be re-exported within the prescribed period using a Customs Outward permit. GST has to be paid if the goods

»»ADMISSION TEMPORAIRE

MALAYSIA

Further information on export controls is available at: http://www.bis.doc.gov/ licensing/exportingbasics.htm   BIS has developed a list of “red flags,” or warning signs, intended to discover possible violations of the EAR. These are posted at: https://www.bis.doc.gov/index.php/ compliance-a-training/export-managementa-compliance/elements-of-an-effectiveemcp/23-compliance-a-training/51-redflag-indicators   Also, BIS has “Know Your Customer” guidance at: https://www.bis.doc.gov/ index.php/compliance-a-training/exportmanagement-a-compliance/elementsof-an-effective-emcp/23-compliance-atraining/47-know-your-customer-guidance   BIS provides a variety of training sessions to U.S. exporters throughout the year. These sessions range from one to two day seminars and focus on the basics of exporting as well as more advanced topics. A list of upcoming seminars can be found at: https://www.bis. doc.gov/index.php/compliance-a-training/

are not subsequently re-exported. The procedures governing such importation can be found at https://www.customs.gov.sg/ businesses/importing-goods/temporaryimport-scheme.

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Western Regional Office

Image courtesy of the U.S. Commercial Service Singapore

Special import licenses are required for certain goods, including strategic items, hazardous chemicals, radioactive materials, films and videos, video games, arms and ammunition, agricultural biotechnology products, food derived from agricultural biotechnology products, medical devices, prescription drugs, over-the-counter drugs, vitamins with very high dosages of certain nutrients, and cosmetics and skin care products. The import of items such as lighters in the shape of pistols or revolvers, firecrackers, handcuffs, shell casings, and silencers is prohibited.   Generally, the import of goods that the government determines as posing a threat to health, security, safety and social decency is controlled. A full list of prohibited products and controlled goods and their corresponding controlling agencies can be obtained from the Singapore Customs website at https://www. customs.gov.sg/businesses/importinggoods/controlled-and-prohibited-goodsfor-import and https://www.customs.gov.sg/ individuals/going-through-customs/arrival/ prohibited-and-controlled-goods.  Companies must make an outward declaration to export or re-export goods out of Singapore. Selected items are subjected to controls on exports of goods from Singapore. Items such as rubber, timber, granite, satellite dishes and receivers, and chlorofluorocarbons are subjected to export control and licensing. Items under export control must be endorsed or licensed by the appropriate government agencies before they can be exported. More information may be obtained at https://www.customs. gov.sg/businesses/expor ting-goods/ controlled-and-prohibited-goods-forexport.

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Tel: (202) 482-4811 Fax: (202) 482-3322

PROHIBITED AND RESTRICTED IMPORTS

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Washington, D.C.

current-seminar-schedule   The EAR does not control all goods, services, and technologies. Other U.S. Government agencies regulate more specialized exports. For example, the U.S. Department of State’s Directorate of Defense Trade Controls has authority over defense articles and services. A list of other agencies involved in export control can be found on the BIS Web site https://www.bis.doc. gov/index.php/about-bis/resource-links or in Supplement No. 3 to Part 730 of the EAR, which is available on the Government Printing Office Web site at: https://www.bis. doc.gov/index.php/regulations/exportadministration-regulations-ear A list that consolidates eleven export screening lists of the Departments of Commerce, State and the Treasury into a single search as an aid to industry in conducting electronic screens of potential parties to regulated transactions is available here: • http://apps.export.gov/csl-search#cslsearch • https://www.export.govarticle? id=Consolidated-Screening-List

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policy. Exporters may also request a written advisory opinion from BIS about application of the EAR to a specific situation. Information on commodity classifications, advisory opinions, and export licenses can be obtained through the BIS website at www. bis.doc.gov or by contacting the Office of Exporter Services at the following numbers:

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»»OVERVIEW

As the national quality and standards (QandS) body, SPRING Singapore develops and promotes a robust and internationallyrecognized QandS ecosystem in Singapore. This ecosystem enables enterprises to become more efficient, productive and globally competitive. This ecosystem will be a key pillar of Singapore’s future economy helping to transform industries, support emerging areas, enable internationalization and promote good jobs and skills.   To facilitate trade with Singapore’s trading partners, SPRING had signed bilateral and multilateral Memoranda of Understanding (MOUs) and Mutual Recognition Arrangements (MRAs) with a number of agencies and governments around the world.   SPRING currently participates in a number of international or regional fora such as the Pacific Area Standards Congress (PASC), Asia Pacific Economic Cooperation SubCommittee on Standards and Conformance (APEC SCSC), ASEAN Consultative Committee on Standards and Quality (ACCSQ), and Pacific Accreditation Cooperation (PAC). Currently SPRING is not a member of any regional standards developing body.   SPRING also administers the SPRING Business Excellence (BE) Initiative which helps organizations enhance their management systems and processes to improve performance. By adopting the internationally benchmarked BE framework, organizations achieve key certification milestones and can

»»STANDARDS

The Singapore Standardisation Programme is administered by SPRING to develop and promote Singapore Standards and International Standards which are important to Singapore. It establishes and publishes Singapore Standards by announcement in the Government Gazette http://www. egazette.com.sg/welcome/aspx. SPRING is Singapore’s member body of the International Organization for Standardization (ISO) and also a member body of the International Electro technical Commission (IEC) through the Singapore National Committee of the IEC.  SPRING facilitates the participation of industry in standards development work through the industry-led Singapore Standards Council. To strengthen its linkages with industry, the Council comprises standards partners or experts from the private and public sectors. The Standards Council approves the publication and withdrawal of Singapore Standards (SSs) and Technical References (TRs). It also oversees Singapore’s participation in the development or monitoring of ISO and IEC international standards that are important to Singapore. It currently has 10 Standards Committees (SCs) to lead the development and promotion of standards in various industries or technical fields such as biomedical, building and construction, chemical, electrical and electronic, food, services and management systems. Under the various Standards Committees (SCs), Technical Committees (TCs) and Working Groups (WGs) are established to undertake the preparation and promotion of standards. More information can be obtained at: http://www.spring.gov. sg/standards.

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STANDARDS FOR TRADE

also vie for the prestigious BE awards.

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traders, freight forwarders and others. https://www.customs.gov.sg/businesses/ resources/directories-of-service-providers/ licensed-premises-for-zero-gst-goods

INDONESIA

Singapore has three Free Trade Zone (FTZ) authorities, namely PSA Corporation Ltd, Jurong Port Pte Ltd and the Changi Airport Group (Singapore) Pte Ltd. The nine FTZs are Brani Terminal, Keppel Distripark, Pasir Panjang Wharves and Terminal, Sembawang Wharves, Tanjong Pagar Terminal, Keppel Terminal, Jurong Port, Changi Airport Group and the Changi Airport Cargo Terminal Complex. They provide a wide range of facilities and services for storage and reexport of dutiable and controlled goods. Goods can be stored within the zones without any customs documentation until they are released in the market and they can also be processed and re-exported with minimum customs formalities. More information can be found at http://www. customs.gov.sg/.   GST is suspended for imported goods deposited in a FTZ and will only be payable upon removal from the FTZ for local consumption. GST is not payable on supply made in FTZ if the goods supplied are meant for transshipment or re-export.    The FTZs at the port facilitate entrepot trade and promote the handling of transshipment cargo. They offer free 72-hour storage for import/export of conventional and containerized cargo and 140-day free storage for transshipment/re-export cargo.   There are many warehouse space options available in Singapore. Some of the more popular ones are located close to the port and within easy reach of the airport and the Jurong industrial hub. These include the Tanjong Pagar, Alexandra and Pasir Panjang distriparks which are home to many established multinationals. The distriparks, in varying designs and sizes cater to Central Distribution Center operators, manufacturers,

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CUSTOMS REGULATIONS In Singapore, valuation for customs purposes is based on the Customs Valuation Code (CVC). The primary basis for customs value is the transaction value of the imported goods when sold for export to Singapore. Where goods are dutiable, ad valorem or specific rates may be applied. An ad valorem rate, which is most commonly applied, is a percentage of the Customs value of the imported goods. A specific rate is a specified amount per unit of weight of other quantity.   Cost, insurance, freight, handling charges and all other charges incidental to the sale and delivery of the goods are taken into account when the duty is assessed. Exporters are required to ensure that the declared values of goods have not been undervalued or the Customs and Excise Department will increase the values declared. Severe penalties may be imposed on traders attempting to evade duty.

»»Free Trade Zone/Warehouses

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  The Strategic Trade Scheme (STS) is an enhanced permit regime that seeks to promote effective internal export control compliance and provide legitimate traders with greater facilitation in permit declarations involving transactions of strategic goods for non-WMD (Weapons of Mass Destruction) related end-use. The STS comprises 3 tiers whereby the level of facilitation and flexibility accorded to a company will be contingent upon the quality of their internal export control compliance program. More information may be obtained at https://www.customs.gov.sg/~/media/ cus/files/business/strategic%20goods%20 control/2016-02-04%20sts%20handbook. pdf?la=en.

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»»TESTING, INSPECTION AND CERTIFICATION

Ms. CHANG Kwei Fern, Director, Accreditation Division Email: sac@spring.gov.sg Mr. CHEONG Tak Leong, Director, Standards Division Email: standards@spring.gov.sg

»»NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY’S (NIST) NOTIFY U.S. SERVICE

Mr. Jack TENG, Director, Consumer Protection, Weights and Measures Division Email: safety@spring.gov.sg

Singapore, as member of the World Trade Organization (WTO) is required under the Agreement on Technical Barriers to Trade (TBT Agreement) to notify to the WTO all proposed technical regulations that could affect trade with other members. You can track Singapore’s notification in Notify U.S. a free, web-based e-mail subscription service managed by Commerce’s National Institute for Standards and Technology that offers an opportunity to review and comment on proposed foreign technical regulations that can affect your access to international markets. Register online at Internet URL: https://tsapps.nist.gov/NotifyUS/Data/ Index/Index.cfm

Mr. Patrick LIM, Director, Business and Service Excellence Division Email: be@spring.gov.sg Standards contact at Commercial Service, Singapore Mr. CHAN Y K, Commercial Specialist Email: Yiukei.Chan@trade.gov

TRADE AGREEMENTS As a nation with a small domestic market that depends on imports for food, energy, and industrial raw materials, Singapore places the highest priority on the multilateral trading system embodied by the World Trade Organization (WTO). As a member of the WTO, Singapore believes that the WTO can

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Technical regulations are developed by the relevant government bodies regulating the particular sector or area. For example, for medical devices this would the Health Sciences Authority www.hsa.gov.sg and for the building and construction sector this would be the Building and Construction Authority https://www.bca.gov.sg. U.S. companies are advised to approach these agencies to participate in the consultation process in the development of technical regulations. A list of these agencies can be found on www.sgdi.gov.sg.

THAILAND

 In addition, SPRING had appointed SAC as the Good Laboratory Practice (GLP) Compliance Monitoring Authority in Singapore. In January 2010, Singapore became a Mutual Acceptance of Data (MAD) adherent member of the Organization for Economic Cooperation and Development (OECD). This means that GLP studies conducted in Singapore for the health and safety assessment of chemicals will be accepted in more than 30 OECD and nonOECD member countries.   Singapore operates a MRA on telecom equipment certification with the U.S. The MRA provides for direct entry of telecommunications into either market without the need for additional testing and certification. Under the Asian Pacific Economic Cooperation (APEC) Telecommunications MRA implemented between the U.S. and Singapore, products can be tested and certified in the United States for conformance with Singapore’s technical requirements. A list of the recognized U.S. testing and certification agencies can be found at: https://www.imda.gov.sg/ regulations-licensing-and-consultations/

SPRING Singapore 2 Fusionopolis Way #15-01 Innovis Singapore 138634 Tel: (65) 6278 6666 Fax: (65) 6250 1096 Website: https://www.spring.gov.sg

PHILIPPINES

• Asia Pacific Laboratory Accreditation Cooperation (APLAC) MRA for testing, calibration, medical (ISO 15189), inspection and proficiency testing providers

• International Laboratory Accreditation Cooperation (ILAC) MRA for testing, calibration, medical (ISO 15189) and inspection.

»»PUBLICATION OF TECHNICAL REGULATION

MALAYSIA

Singapore Accreditation Council (SAC) is the national authority for the independent accreditation of conformity assessment bodies in Singapore operating under SPRING Singapore, a statutory board of the Ministry of Trade and Industry. SAC is the signatory member for ILAC and IAF. The test certificates from foreign laboratories are accepted if they are endorsed, i.e. they bear the ILAC mark as well as the accreditation body mark of the originating country.   With reference to the Consumer Protection (Safety Requirements) Registration Scheme, U.S.’s UL International is already operating in Singapore, and test products to comply with Singapore’s regulatory requirements. U.S. testing laboratories are encouraged to be accredited to ISO/IEC 17025 for testing and ISO/IEC 17065 for product certification to meet various regulatory requirements.  The SAC had signed a number of accreditation related multilateral mutual recognition arrangements (MRAs/MLAs). These include:

Inland Revenue Authority of Singapore Comptroller of Goods and Service Tax

LAOS

MALAYSIA

• International Accreditation Forum (IAF) MLA for quality management system certification, product certification and food safety management system certification

»»CONTACT INFORMATION

INDONESIA

PHILIPPINES

environmental management system, product certification, food safety management system certification and energy management system

international-roles/testing-laboratoriesand-certification-bodies-recognised-byimda.

CAMBODIA

THAILAND

• Pacific Accreditation Cooperation (PAC) MLA for quality management system certification,

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  Where possible, SPRING promotes the use of international standards. SSs are developed when there are no suitable international standards. SPRING will also adopt standards developed by regional organizations such as CEN, standards developed by national standards bodies such as BSI and standards developed by other standards development organizations such as ASTM if relevant.

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CUSTOMS, REGULATIONS & STANDARDS


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Agency for Science, Technology and Research (A*STAR) https://www.a-star.edu.sg/

THAILAND

Agri-Food and Veterinary Authority of Singapore (AVA) https://www.ava.gov.sg/

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Accounting and Corporate Regulatory Authority (ACRA) https://www.acra.gov.sg

MALAYSIA

»»WEB RESOURCES

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university law degrees are recognized for purposes of admission to practice law in Singapore. Under the USSFTA, Singapore recognizes law degrees from Harvard University, Columbia University, New York University, and the University of Michigan. Singapore will admit to the Singapore professional bar a citizen or permanentresident law school graduate of those designated universities who are ranked among the top 70% of their graduating class or have obtained lower-second class honors (under the British system). More information on the structure of Singapore’s legal service can be found at https://www.lsc.gov.sg and https://www.mlaw.gov.sg.  Engineering and Architectural Services: Engineering and architectural firms can be 100% foreign-owned. Engineers and architects are required to register with the Professional Engineers Board https://www. peb.gov.sg and the Architects Board https:// www.boa.gov.sg, respectively, to practice in Singapore. All applicants (both local and foreign) must have at least four years of practical experience in engineering or architectural works, and pass written and oral examinations set by the respective Board.

INDONESIA

Legal Services: The Legal Services Regulatory Authority (LSRA) under the Ministry of Law oversees the regulation, licensing, and compliance of all law practice entities and the registration of foreign lawyers in Singapore.

Image courtesy of the U.S. Commercial Service

  Accounting and Tax Service: The major international accounting firms operate in Singapore. Registration as a public accountant is required for appointment as an auditor of financial statements in Singapore, although registration as a public accountant is not required to provide other accountancy services, such as accounting, tax, and corporate advisory work. All entities that provide public accountancy services must be under the control and management of partner(s) who are public accountants residing in Singapore. If the firm has two partners, at least one must be a public accountant. If the firm has more than two partners, two-thirds of the partners must be public accountants residing in Singapore. Only public accountants who are members of the Institute of Singapore Chartered Accountants (ISCA) of Singapore and registered with Accounting and Corporate Regulatory Authority may practice in Singapore. More information can be found at ACRA website: https://www. acra.gov.sg/components/wireframes/ howToGuidesChapters.aspx?pageid=1492.

CAMBODIA

LICENSING REQUIREMENTS FOR PROFESSIONAL SERVICES

Legal firms with a licensed Foreign Law Practice (FLP) may offer the full range of legal services in foreign law and international law, but cannot practice Singapore Law, except in the context of international commercial arbitration. To practice Singapore law, Foreign Law Practices require either a Qualifying Foreign Law Practice (QFLP) license, a Joint Law Venture (JLV) with a Singapore Law Practice (SLP), or a Formal Law Alliance (FLA) with a SLP. The vast majority of Singapore’s 130 foreign law firms operate FLPs, while QFLPs, JLVs and FLAs each number in the single digits.   The QFLP licenses allow Foreign Law Practices (FLPs) to practice in permitted areas of Singapore law, which excludes constitutional and administrative law, conveyancing, criminal law, family law, succession law, and trust law. As of March 2017, there are nine QFLPs in Singapore, including five U.S. firms.   A Joint Law Venture is a collaboration between a Foreign Law Practice and Singapore Law Practice, which may be constituted as a partnership or company. The Director of Legal Services in the Legal Services Regulatory Authority (LSRA) will consider all the relevant circumstances including the proposed structure and its overall suitability to achieve the objectives for which Joint law Ventures are permitted to be established. Currently, there are two U.S. law firms with Joint Law Ventures in Singapore. U.S. and foreign attorneys are allowed to represent parties in arbitration without the need for a Singapore attorney to be present. There is no clear indication on the percentage of shares that each JLV partner may hold in the JLV.   With the exception of law degrees from a handful of designated U.S., British, Australian, and New Zealand universities, no foreign

BURMA

provide a stable framework for developing sound multilateral rules that ensure that goods and services can flow freely with minimum impediment. The primary objective of Singapore’s trade policy is to guard its trading interest by ensuring a free and open international trading environment.   In tandem with its support of the WTO, Singapore advocates that trade efforts are undertaken in the regional context such as APEC (Asia Pacific Economic Cooperation), ASEM (Asia-Europe Meeting) and ASEAN (Association of Southeast Asian Nations) as well as bilateral Free Trade Agreements (FTAs) to accelerate the momentum of trade liberalization and strengthen the multilateral trading system. It has actively pursued a number of legally binding arrangements with trading partners. ASEAN is preparing a roadmap for an ASEAN Economic Community by 2020 that aims to create a single enlarged market of 600 million people.  Singapore has concluded FTAs with the United States, ASEAN, Australia, New Zealand, Hashemite Kingdom of Jordan, China, India, Japan, South Korea, Costa Rica, Panama, Peru, Chile, and New Zealand under the Trans-Pacific SEP (Strategic Economic Partnership) Agreement. FTA negotiations are ongoing with Canada, Mexico, Pakistan and the Ukraine.   For more information, please visit https:// www.iesingapore.gov.sg/ and http://www. fta.gov.sg.

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International Enterprise Singapore (IE Singapore) https://www.iesingapore.gov.sg/

Building and Construction Authority of Singapore https://www.bca.gov.sg/ Civil Aviation Authority of Singapore (CAAS) http://www.caas.gov.sg Consumer Association of Singapore (CASE) https://www.case.org.sg/ Consumer Protection (Safety Requirements) Registration Scheme https://www.spring.gov.sg/Building-Trust/ Raising-Confidence/Consumer-ProductSafety/CPS-Scheme/Documents/CPS_ InfoBooklet.pdf

Monetary Authority of Singapore (MAS) http://www.mas.gov.sg/

Intellectual Property Office of Singapore (IPOS) https://www.ipos.gov.sg/

National Environment Agency (NEA) http://www.nea.gov.sg/

International Revenue Authority of Singapore (IRAS) https://www.iras.gov.sg

National Institute of Standards and Technology (NIST) https://www.nist.gov/

Information Technology Standards Committee https://itsc.org.sg/

Professional Engineers Board https://www.peb.gov.sg/

List of the recognized U.S. testing and certification agencies https://www.imda.gov.sg/~/media/imda/ files/regulation%20licensing%20and%20

Enterprise One https://www.smeportal.sg Hotel Licensing Board (HLB) www.hlb.gov.sg

Ministry of Education https://www.moe.gov.sg/ Ministry of Environment and Water Resources http://www.mewr.gov.sg/

Health Sciences Authority http://www.hsa.gov.sg

Ministry of Finance http://www.mof.gov.sg/

Institute of Certified Public Accountants http://isca.org.sg/

Ministry of Health https://www.moh.gov.sg

Spring Singapore (Singapore Productivity and Innovation for Growth) https://www.spring.gov.sg https://www.ava.gov.sg/

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Ministry of Defence https://www.mindef.gov.sg/

Singapore Standards eShop https://www.singaporestandardseshop.sg

THAILAND

Energy Market Authority (EMA) https://www.ema.gov.sg

Singapore Customs https://www.customs.gov.sg/

PHILIPPINES

consultations/international%20roles/ testing%20lab%20and%20certification%20 bodies/rtl_usa_dup.pdf?la=en

Singapore Accreditation Centre https://www.sac-accreditation.gov.sg

MALAYSIA

Economic Development Board Singapore (EDB Singapore) https://www.edb.gov.sg

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Ministry of Trade and Industry https://www.mti.gov.sg

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https://www.tech.gov.sg/IDA.html Board of Architects http://www.boa.gov.sg/

INDONESIA

MALAYSIA

Ministry of Law https://www.mlaw.gov.sg

CAMBODIA

PHILIPPINES

Infocomm Development Authority of Singapore (IDA Singapore)

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ASEAN http://asean.org/

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SINGAPORE

INVESTMENT CLIMATE STATEMENT

CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND VIETNAM

http://www.bea.gov/ international/factsheet/

World Bank GNI per capita

2015

US$52,090

http://data.worldbank.org/ indicator/NY.GNP.PCAP.CD

Global Innovation Index

2016

6 of 128

globalinnovationindex.org/ content/page/data-analysis

TI Corruption Perceptions Index

2016

7 of 141

http://www.transparency.org/ research/cpi/overview

World Bank’s Doing Business Report “Ease of Doing Business”

2017

2 of 190

doingbusiness.org/rankings

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VIETNAM

US$228,666

THAILAND

2015

PHILIPPINES

U.S. FDI in partner country ($M USD, stock positions)

MALAYSIA

Website Address

Singapore maintains a heavily tradedependent economy. It is characterized by an open investment regime, with some restrictions in the financial services, professional services, and media sectors. The World Bank’s Doing Business 2017 report ranked Singapore as the world’s secondeasiest country in which to do business after New Zealand. The 2016-2017 Global Competitiveness Report ranks Singapore as the second-most competitive economy globally. The 2004 U.S.-Singapore Free Trade Agreement (USSFTA) expanded U.S. market access in goods, services, investment, and government procurement, enhanced intellectual property protection, and provided for cooperation in promoting labor rights and the environment.

LAOS

Index or Rank

»»POLICIES TOWARD FOREIGN DIRECT INVESTMENT

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Year

OPENNESS TO AND RESTRICTIONS UPON FOREIGN INVESTMENT

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Measure

is also reflected in the decision of many multinational and foreign firms to choose Singapore as their headquarters for the Asia-Pacific region. The U.S.-Singapore Free Trade Agreement (USSFTA), which came into force on January 1, 2004, expanded U.S. market access in goods, services, investment, and government procurement, enhanced intellectual property protection, and provided for cooperation in promoting labor rights and environmental protections. U.S. direct investment in Singapore in 2015 reached US$228.7 billion, primarily in nonbank holding companies, manufacturing (especially computers and electronic products), and finance and insurance – an increase of 10.5% from the previous year.   Singapore continues to strengthen its anti-money laundering/counter-terrorism financing regulatory framework, and established an anti-money laundering unit within the Monetary Authority of Singapore in November 2016. Singapore is also in the process of implementing Organisation for Economic Co-operation and Development

  The Government of Singapore (GOS) is strongly committed to maintaining a free market, but it also takes a leadership role in actively planning Singapore’s economic development, including through an extensive network of government-linked corporations (GLCs). As of February 2016, the top four Singapore-listed GLCs accounted for about 13.7% of total capitalization of the national stock exchange, the Singapore Exchange (SGX). Some observers have criticized the dominant role of GLCs in the domestic economy, arguing that it has displaced or suppressed private sector entrepreneurship and investment.   Singapore’s legal framework and public policies are generally favorable toward foreign investors. Foreign investors are not required to enter into joint ventures or cede management control to local interests, and local and foreign investors are subject to the same basic laws. Apart from regulatory requirements in some sectors detailed below in this section, the government screens investment proposals with the purpose of determining eligibility for various incentive regimes. Singapore places no restrictions on reinvestment or repatriation of earnings or capital. The judicial system, which includes international arbitration and mediation centers and a commercial court, upholds the sanctity of contracts, and decisions are transparent and effectively enforced.  Exceptions to Singapore’s general openness to foreign investment exist in telecommunications, broadcasting, the domestic news media, financial services, legal and accounting services, ports and airports, and property ownership. Under Singapore law, Articles of Incorporation may include shareholding limits that restrict ownership in corporations by foreign persons.

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EXECUTIVE SUMMARY Singapore maintains an open, heavily tradedependent economy, characterized by a predominantly open investment regime, with strong government commitment to maintaining a free market and playing an active management role in Singapore’s economic development. In identifying attractive features of Singapore’s business and investment climate, U.S. companies cite transparency and lack of corruption, business-friendly laws and regulations, tax structure, customs facilitation, and well-developed infrastructure. The World Bank’s 2017 Doing Business report ranked Singapore as the world’s second-easiest country in which to do business. The Global Competitiveness Report 2016-2017 by the World Economic Forum ranked Singapore as the second-most competitive economy globally. Singapore typically ranks as the least corrupt country in Asia and one of the least corrupt in the world, and actively enforces its robust anti-corruption laws. The country’s high ranking in various international indicies

(OECD) standards to counter tax evasion, aligning its tax system with OECD Base Erosion and Profit Shifting project guidelines, and implementing disclosure requirements in line with Common Reporting Standards on automatic exchange of information from January 2017.   In recent years, the government has tightened policies restricting the number of foreign workers in favor of employment of Singaporean nationals. The Ministry of Manpower introduced measures in 2016 to put companies on a watch list and suspend work pass privileges for firms found not to have a “healthy Singaporean core.” As of March 2017, approximately 250 companies have been placed on the watch list.

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MALAYSIA

THAILAND

»»PAY TELEVISION

MediaCorp TV is the only free-to-air TV broadcaster; the government via Temasek owns 100% of it. Pay-TV providers StarHub Cable Vision (SCV) and SingNet are whollyowned subsidiaries of StarHub and SingTel, respectively. Free-to-air radio broadcasters are mainly government-owned, with MediaCorp Radio Singapore being the largest operator. BBC World Services is the only foreign free-to-air radio broadcaster in Singapore.   To rectify the high degree of content fragmentation in the local pay-TV market, and to shift the focus of competition from an exclusivity-centric strategy to other aspects such as service differentiation and competitive packaging, the MDA implemented cross-carriage measures in 2011 requiring pay TV companies designated by MDA to be Receiving Qualified Licensees (RQL) – currently SingTel and StarHub - to cross carry content subject to exclusive carriage provisions. Correspondingly,

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profile case in 2016, the government charged and sentenced to 10 months imprisonment a foreign operator of an online media news site for sedition on the grounds of generating illwill and hostility.   MCI announced in January 2017 that the Broadcasting Act, which covers licensing, ownership, and content regulation, of broadcasting companies, services, facilities and equipment, will be reviewed in 2017. MCI indicated that the review will focus on content regulation of overseas content providers to ensure that content is in line with community values and that ratings on streaming sites are in line with Singapore norms. GOS has pledged to consult businesses and the public on any proposed changes.

INDONESIA

»»MEDIA

The local free-to-air broadcasting, cable, and newspaper sectors are effectively closed to foreign firms. Section 44 of the Broadcasting Act restricts foreign equity ownership of companies broadcasting to the Singapore domestic market to 49% or less, although the Act does allow for exceptions. Individuals cannot hold more than 5% of the ordinary shares issued by a broadcasting company without the government’s prior approval. The

Newspaper and Printing Presses Act restricts equity ownership (local or foreign) to 5% per shareholder and requires that directors be Singapore citizens. Newspaper companies must issue two classes of shares, ordinary and management, with the latter available only to Singapore citizens or corporations approved by the government. Holders of management shares have an effective veto over selected board decisions.  Singapore comprehensively regulates content across all major media outlets. The government also controls the distribution, importation and sale of any foreign newspaper, having curtailed or banned the circulation of some foreign publications. Singapore’s leaders have also brought defamation suits against foreign publishers. Such suits have resulted in the foreign publishers issuing apologies and paying damages. Seventeen publications remain prohibited under the Undesirable Publications Act, which restricts the import, sale and circulation of publications that the Government considers contrary to public interest. Examples include pornographic magazines and publications by banned religious groups.   Singaporeans generally face few restrictions on the internet. However, IMDA has blocked various websites containing objectionable material, such as pornography and racist and religious hatred sites. Online news websites which report regularly on Singapore and have a significant reach are individually licensed, which requires these sites to submit a bond of US$40,000 (S$50,000) and to adhere to new requirements to remove prohibited content within 24 hours of notification from IMDA. Some view this regulation as a way to censor online critics of the government. In a high-

CAMBODIA

additional frequency bands, many of which were previously used for 2G services, which will be shut down in Singapore in April 2017. GOS will use the auction proceeds to assist infocomm media companies to go digital and for workforce training.   Citing the convergence of the information and communication technology (ICT) and media sectors, combined with a desire to expand the reach of the digital economy to more people, the Infocomm Development Authority of Singapore (IDA) and the Media Development Authority of Singapore (MDA) were restructured to become the Info-communications Media Development Authority (IMDA) and the Government Technology Organization (GTO) in November 2016. IMDA will conduct industry regulation and promotion activities for the infocommunication and media sectors, while GTO will be the tech agency to implement government digital initiatives. In March 2017, it was announced that GTO will be placed under a new division in the Prime Minister’s Office, the Smart Nation and Digital Government Office (SNDGO).   IMDA conducts public consultations on major policy reviews and provides decisions and grounds on policy changes to companies concerned.

BURMA

Since 2000, the implementation of the Telecoms Competition Code has allowed foreign and domestic companies seeking to provide facilities-based (fixed line or mobile) or services-based (local, international, and callback) telecommunications services to apply for licenses to operate and deploy telecommunication systems and services. Singapore Telecommunications (SingTel) - a GLC which is currently 51% owned by Temasek Holdings (Temasek), a state-owned holding company with the Singapore Minister for Finance as its sole shareholder - faces competition in all market segments. However, its main competitors, M1 and StarHub, are also GLCs. In December 2016, Australian telco TPG Telecom became the first foreign-based mobile network operator and non-GLC to be awarded spectrum rights to provide nationwide mobile coverage. As of February 2017, Singapore has 65 facilities-based (group) and 257 servicesbased (individual) operators. Since 2007, SingTel has been exempted from dominant licensee obligations for the residential and commercial portions of the retail international telephone services. SingTel is also exempted from dominant licensee obligations for wholesale international telephone services, international managed data, international IP transit, leased satellite bandwidth, terrestrial international private leased circuit, and backhaul services.   In April 2017, Singapore held a General Spectrum Auction for mobile airwaves, the largest such auction in 16 years, to allocate additional blocks of spectrum to accommodate increasing demand for mobile data services. Telcos Singtel, Starhub, M1, and TPG paid a combined total of US$1.1 billion (S$1.6 billion) in this heavily-bid auction for

BRUNEI

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»»TELECOMMUNICATIONS

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

PHILIPPINES THAILAND

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LAOS

access to the local ATM network. As noted above, U.S. banks are not subject to quotas on service locations under the terms of the USSFTA. Holders of credit cards issued locally by foreign banks or other financial institutions sometimes cannot access their accounts through the local ATM networks. They are also unable to access their accounts for cash withdrawals, transfers or bill payments at ATMs operated by banks other than those operated by their own bank or at foreign banks’ shared ATM network. Nevertheless, full-service foreign banks have made significant inroads in other retail banking areas, with substantial market share in products like credit cards and personal and housing loans.  In February 2017, MAS announced upcoming regulatory changes under the Finance Companies Act to enhance finance companies’ role in small and medium enterprise (SME) financing. This includes relaxation of business restrictions on payment and banking services, easing of loan limits, and liberalization of shareholding policy. MAS will liberalize its existing policy of not allowing a foreign takeover of a finance company. This will accord finance companies greater flexibility to explore strategic partnerships and innovative business models that can strengthen their SME financing business, including with foreign partners. MAS is prepared to consider an application for a merger or acquisition, if the prospective merger partner or acquirer commits to maintaining SME financing as a core business of the finance company. In addition, the merger partner or acquirer must be able to demonstrate expertise in SME financing and present proposals to enhance the finance company’s SME lending activities with new technologies, methodologies or business

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of local banks and finance companies, the approval of controllers of local banks ensures that this control rests with individuals or groups whose interests are aligned with the long term interests of the Singapore economy and Singapore’s national interests. Of the 29 full service licenses granted to foreign banks, four have gone to U.S. banks. U.S. financial institutions enjoy phased-in benefits under the USSFTA. Since 2006, U.S.-licensed full service banks that are also QFBs have been able to operate at an unlimited number of locations (branches or off-premises ATMs) versus 25 for non-U.S. full service foreign banks with QFB status. U.S. and foreign fullservice banks with QFB status can freely relocate existing branches and share ATMs among themselves. They can also provide electronic funds transfer and point-of-sale debit services, and accept services related to Singapore’s compulsory pension fund. In 2007, Singapore lifted the quota on new licenses for U.S. wholesale banks.  Locally and non-locally incorporated subsidiaries of U.S. full-service banks with QFB status can apply for access to local ATM networks. However, no U.S. bank has come to a commercial agreement to gain such access. Despite liberalization, U.S. and other foreign banks in the domestic retail banking sector still face barriers. Under the enhanced QFB program launched in 2012, MAS will require QFBs it deems systemically significant to incorporate locally. If those locally incorporated entities are deemed “significantly rooted” in Singapore, with a majority of Singaporean or permanent resident members, Singapore may grant approval for an additional 25 places of business, of which up to 10 may be branches. Local retail banks do not face similar constraints on customer service locations or

CAMBODIA

»»BANKING

The Monetary Authority of Singapore (MAS) regulates all banking activities as provided for under the Banking Act. Singapore maintains legal distinctions between foreign and local banks, and the type of license (i.e., full service, wholesale, and offshore) held by foreign commercial banks. As of March 2017, 29 foreign full service licensees, 57 wholesale licensees, and 37 offshore licensees operated in Singapore. An additional 32 merchant banks are licensed to conduct corporate finance, investment banking and other feebased activities. Offshore and wholesale banks are not allowed to operate Singapore Dollar (SGD) retail banking activities. Full banks may provide the whole range of banking business, but are subject to restrictions on the number of places of business, ATMs and ATM networks. Additional “Qualifying Full Bank” (QFB) licenses may be granted to a subset of full banks, which provides greater branching privileges and greater access to the retail market than other full banks. As of March 2017, there are 8

banks operating QFB licenses.   Except in retail banking, Singapore laws do not distinguish operationally between foreign and domestic banks. However, all banks in Singapore are required to maintain a Domestic Banking Unit (DBU) and an Asian Currency Unit (ACU), separating international and domestic banking operations from each other. Transactions in Singapore dollars can be booked only in the DBU whereas transactions in foreign currency are typically booked in the ACU. The ACU is an accounting unit, which the banks use to book all their foreign currency transactions conducted in the Asian Dollar Market (ADM). This enables additional prudential requirements to be imposed on bank’s domestic businesses in Singapore, while at the same time, avoiding undue restrictions on the offshore activities of banks. In September 2015, MAS concluded a consultation round which proposed for the removal of the requirement for two distinct accounting units as well as changes in the associated regulatory framework. No formal policy announcements following the recommendations have been made.  The government initiated a banking liberalization program in 1999 to ease restrictions on foreign banks and has supplemented this with phased-in provisions under the USSFTA, including removal of a 40% ceiling on foreign ownership of local banks and a 20% aggregate foreign shareholding limit on finance companies. The Minister in charge of the Monetary Authority of Singapore must approve the merger or takeover of a local bank or financial holding company, as well as the acquisition of voting shares in such institutions above specific thresholds of 5%, 12% or 20% of shareholdings. Although the GOS has lifted the formal ceilings on foreign ownership

BURMA

Supplying Qualified Licensees (SQLs) with an exclusive contract for a channel are required to share that content with other pay TV companies. Content providers consider the measures an unnecessary interference in a competitive market that would deny content holders the ability to negotiate freely in the marketplace, and an interference with their ability to manage and protect their intellectual property. More common content is now available across the different pay-TV platforms, and the operators are beginning to differentiate themselves by originating their own content, offering subscribed content online via PCs and tablet computers, and delivering content via fiber networks.

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INVESTMENT CLIMATE STATEMENT


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PHILIPPINES

Foreign and local entities may readily establish, operate, and dispose of their own enterprises in Singapore, and there is no overarching screening process for foreign investment. A foreigner who wants to set up a company in Singapore is required to appoint a locally resident director. The foreigner can continue to reside outside Singapore. Foreigners who wish to incorporate a company and be present in Singapore to manage its operations are strongly advised to seek approval from the Ministry of Manpower (MOM) before registration. Except for representative offices (where foreign firms maintain a local representative but do not conduct commercial transactions in Singapore), there are no restrictions on carrying out remunerative activities. GOS maintains close and continuous engagement with investors through the Economic Development Board (EDB), which includes specialized offices within four clusters (consumer, engineering, enterprise, and new businesses) across multiple sectors. EDB is the lead investment promotion agency that facilitates foreign investment into Singapore https://www.edb.gov.sg, assists companies in setting up business in Singapore, and provides incentives including grants,

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»»ENERGY

Singapore completed efforts to liberalize its gas market with the amendment of the Gas Act and implementation of a Gas Network Code in 2008, which were designed to give gas retailers and importers direct access to the onshore gas pipeline infrastructure. However, key parts of the local gas market, such as town gas retailing, domestic gas pipelines and access to offshore gas

»»LIMITS ON FOREIGN CONTROL AND RIGHT TO PRIVATE OWNERSHIP AND ESTABLISHMENT

LAOS

Engineering and architectural firms can be 100% foreign-owned. Engineers and

»»ACCOUNTING AND TAX SERVICES

The major international accounting firms operate in Singapore. Registration as a public accountant is required for appointment as an auditor of financial statements in Singapore, although registration as a public accountant is not required to provide other accountancy services, such as accounting, tax and corporate advisory work. All entities that provide public accountancy services must be under the control and management of partner(s) who are public accountants residing in Singapore. If the firm has two partners, at least one must be a public accountant. If the firm has more than two partners, two-thirds of the partners must be public accountants residing in Singapore. Only public accountants who are members of the Institute of Singapore Chartered Accountants (ISCA) of Singapore and registered with Accounting and Corporate Regulatory Authority may practice in Singapore.

pipelines, remain controlled by incumbent Singaporean firms. Singapore has sought to grow its supply of Liquefied Natural Gas (LNG), and BG Singapore Gas Marketing Pte Ltd (acquired by Royal Dutch Shell in February 2016) was appointed in 2008 as the first aggregator with an exclusive franchise to import LNG to be sold in its re-gasified form in Singapore.

INDONESIA

»»ENGINEERING AND ARCHITECTURAL SERVICES

architects are required to register with the Professional Engineers Board and the Architects Board, respectively, to practice in Singapore. All applicants (both local and foreign) must have at least four years of practical experience in engineering or architectural works, and pass written and oral examination set by the respective Board.

CAMBODIA

»»LEGAL SERVICES

The Legal Services Regulatory Authority (LSRA) under the Ministry of Law oversees the regulation, licensing, and compliance of all law practice entities and the registration of foreign lawyers in Singapore. Legal firms with a licensed Foreign Law Practice (FLP) may offer the full range of legal services in foreign law and international law, but cannot practice Singapore Law, except in the context of international commercial arbitration. To practice Singapore law, Foreign Law Practices require either a Qualifying Foreign Law Practice (QFLP) license, a Joint Law Venture (JLV) with a Singapore Law Practice (SLP), or a Formal Law Alliance (FLA) with a SLP. The vast majority of Singapore’s 130 foreign law firms operate FLPs, while QFLPs, JLVs and FLAs each number in the single digits.   The QFLP licenses allow Foreign Law Practices (FLPs) to practice in permitted areas of Singapore law, which excludes constitutional and administrative law,

conveyancing, criminal law, family law, succession law, and trust law. As of March 2017, there are nine QFLPs in Singapore, including five U.S. firms.   A Joint Law Venture is a collaboration between a Foreign Law Practice and Singapore Law Practice, which may be constituted as a partnership or company. The Director of Legal Services in the Legal Services Regulatory Authority (LSRA) will consider all the relevant circumstances including the proposed structure and its overall suitability to achieve the objectives for which Joint law Ventures are permitted to be established. Currently, there are two U.S. law firms with Joint Law Ventures in Singapore. U.S. and foreign attorneys are allowed to represent parties in arbitration without the need for a Singapore attorney to be present. There is no clear indication on the percentage of shares that each JLV partner may hold in the JLV.   With the exception of law degrees from a handful of designated U.S., British, Australian, and New Zealand universities, no foreign university law degrees are recognized for purposes of admission to practice law in Singapore. Under the USSFTA, Singapore recognizes law degrees from Harvard University, Columbia University, New York University, and the University of Michigan. Singapore will admit to the Singapore professional bar- a citizen or permanentresident law school graduates of those designated universities who are ranked among the top 70 percent of their graduating class or have obtained lower-second class honors (under the British system).

BURMA

models.   There are two MAS-recognized consumer credit bureaus in Singapore, Credit Bureau (Singapore) Pte Ltd and DP Credit Bureau Pte Ltd.   Singapore has no trading restrictions onforeign-owned stockbrokers. There is no cap on the aggregate investment by foreigners regarding the paid-up capital of dealers that are members of the SGX. Direct registration of foreign mutual funds is allowed, provided MAS approves the prospectus and the fund. The USSFTA has relaxed conditions that foreign asset managers must meet in order to offer products under the government-managed compulsory pension fund (Central Provident Fund Investment Scheme).

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INVESTMENT CLIMATE STATEMENT


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SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

THAILAND

»»FOREIGN EXCHANGE

The USSFTA commits Singapore to the free

»»SOVEREIGN WEALTH FUNDS

Singapore’s reserves are managed by three entities. GIC Private Limited (GIC) is the sovereign wealth fund in Singapore that manages GOS’ substantial investments, fiscal, and foreign reserves, with the stated objective to achieve long-term returns and preserve the international purchasing power of the reserves. Temasek is a holding company wholly-owned by the Singapore Minister for Finance. The MAS, as the central bank of Singapore, manages the Official Foreign

PHILIPPINES

Foreign Exchange and Remittances

»»REMITTANCE POLICIES

There are no time or amount limitations on remittances. No significant changes to investment remittance was implemented or announced over the past year.

MALAYSIA

CONVERSION AND TRANSFER POLICIES

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»»OUTWARD INVESTMENT Singapore places no restrictions on domestic investors investing abroad. The host government promotes outward investment through International Enterprise (IE) Singapore, a statutory board under the Ministry of Trade and Industry. It provides market information, business contacts, and financial assistance and grants for internationalizing companies. While it has a global reach and runs overseas centers in major cities across the world, a large share of its overseas centers are located in major trading and investment partners and regional markets like China, India and the nine other countries in the Association of Southeast Asian Nations (ASEAN) region.

transfer of capital, unimpeded by regulatory restrictions. Singapore places no restrictions on reinvestment or repatriation of earnings and capital, and maintains no significant restrictions on remittances, foreign exchange transactions, and capital movements.   Singapore’s monetary policy has been centered on the management of the exchange rate since 1981, with the primary objective of promoting medium term price stability as a sound basis for sustainable economic growth. There are three main features of the exchange rate system in Singapore. MAS operates a managed float regime for the Singapore dollar with the trade-weighted exchange rate allowed to fluctuate within a policy band. The Singapore dollar is managed against a basket of currencies of its major trading partners. The exchange rate policy band is periodically reviewed to ensure that it remains consistent with the underlying fundamentals of the economy.

INDONESIA

Singapore underwent a trade policy review with the World Trade Organization (WTO) in July 2016. No major policy recommendations were raised. This is its only investment policy review in the past three years. Additional

»»BUSINESS FACILITATION Singapore’s online business registration process is clear and efficient, and allows foreign companies to register. All businesses must be registered with the Accounting and Corporate Regulatory Authority (ACRA) through the website https://www.acra.gov. sg/home/, including any individual, firm or corporation that carries out business for a foreign company. Applications are typically processed immediately after the application fee is paid, but may take between 14 days to 2 months if the application needs to be referred to another agency for approval or review. The process of establishing a foreign-owned limited liability company (LLC) in Singapore is among the fastest of the countries surveyed by IAB and the fastest among IAB countries in the East Asia and the Pacific region. A step-by-step guide to registering a business or company in Singapore is provided at the SME Portal (formerly known as the EnterpriseOne Portal): https://www. smeportal.sg/. Additional information on registering a branch of a foreign company is available through the Singapore’s EDB.   Foreign companies may lease or buy privately or publicly held land in Singapore, though there are some restrictions on foreign ownership of property. Foreign companies are free to open and maintain bank accounts in foreign currency. There is no minimum paid-in capital requirement, but at least one subscriber share must be issued for valid consideration at incorporation.   The International Arbitration Act (IAA) regulates international arbitration in Singapore. Domestic arbitration is regulated by the Arbitration Act (AA). The IAA is heavily

based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law, although with a few significant differences. Arbitration agreements must be in writing, and oral agreements and arbitration agreements that can be inferred through conduct are not enforceable. The Singapore International Arbitration Centre is the major arbitral institution and its increasing caseload reflects Singapore’s policy of encouraging the use of alternative modes of dispute resolution, including arbitration. On average, it takes around eight weeks to enforce an arbitration award rendered in Singapore, from filing an application to a writ of execution attaching assets (assuming there is no appeal), and seven weeks for a foreign award.

CAMBODIA

»»OTHER INVESTMENT POLICY REVIEWS

information on the review is available on the WTO website https://www.wto.org/english/ tratop_e/tpr_e/tp443_e.htm.

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allowances, awards, tax exemptions, and reduced tax rates for investments in certain sectors or categories https://www.edb.gov. sg/content/edb/en/why-singapore/readyto-invest/incentives-for-businesses.html.   There are no general, economy-wide limits on foreign ownership or control. All businesses in Singapore must be registered with the Accounting and Corporate Regulatory Authority. Foreign investors can operate their businesses in one of the following forms: sole proprietorship, limited partnership, limited liability partnership, incorporated company, foreign company branch or representative office. Stricter disclosure requirements were passed in March 2017 which require foreign companies registered in Singapore to maintain public registers of their members, while locally incorporated and foreign companies will be required to maintain registers of controllers (individuals or legal entities with more than 25% interest or control of the company), aimed at preventing money laundering.  Exceptions to Singapore’s general openness to foreign investment exist in telecommunications, broadcasting, the domestic news media, financial services, legal services, public accounting services, ports and airports, and property ownership. Under Singapore law, Articles of Incorporation may include shareholding limits that restrict ownership in corporations by foreign persons.

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INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

DISPUTE SETTLEMENT »»ICSID CONVENTION AND NEW YORK CONVENTION

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VIETNAM

Singapore is party to the Convention on the Settlement of Investment Disputes (ICSID convention) and the convention on the Recognition and Enforcement of Foreign Arbitration Awards (1958 New York Convention). Singapore passed an Arbitration (International Investment

»»BANKRUPTCY REGULATIONS Singapore has bankruptcy laws, with both debtors and creditors able to file a bankruptcy claim. Singapore is ranked number 29th of 190 countries globally for resolving insolvency in the World Bank’s 2016 Doing Business index. While Singapore performed well in rankings for recovery rate, time and cost of proceedings, it did not score highly in the creditor participation sub-index. In particular, the insolvency framework does not require approval by the creditors for sale of substantial assets of the debtor or approval by the creditors for selection or appointment of the insolvency representative. Amendments to the Companies Act passed in March 2017 include additional disclosure requirements by debtors, while increasing debtor protections and cram-down provisions that will allow a

THAILAND

Singapore acceded to the New York Convention of 1958 on August 21, 1986, and subsequently re-enacted most of its provisions in Part III of the IAA. By acceding to this Convention, Singapore is bound to recognize awards made in any other country which is a signatory to the Convention. Singapore is a member of the Commonwealth of Nations and, under the Reciprocal Enforcement of Commonwealth Judgments Act (RECJA), recognizes judgments made in the United Kingdom, as well as jurisdictions that are part of the Commonwealth and which Singapore has reciprocal arrangements with for the recognition and enforcement of judgments. The Act lists the countries with which such arrangements exist, and of the 54 countries that are members of the Commonwealth, nine have been listed. http://www.lawgazette.com.sg/2001-8/ Aug01-focus4.htm   Singapore has had no investment disputes with U.S. persons or other foreign investors in the past 10 years which have proceeded to litigation. Any disputes settled by arbitration/ mediation would remain confidential. There have been no claims made by U.S. investors under the USSFTA. There is no history of extrajudicial action against foreign investors.

PHILIPPINES

Singapore has not expropriated foreign owned property and has no laws that force foreign investors to transfer ownership to local interests. Singapore has signed investment promotion and protection agreements with a wide range of countries. These agreements mutually protect nationals or companies of either country against war and non-commercial risks of expropriation and nationalization for an initial period of 15 years and continue thereafter unless otherwise terminated. The USSFTA contains strong investor protection provisions relating to expropriation of private property and the need to follow due process; provisions are in place for an owner to receive compensation based on fair market value. No significant disputes are pending.

MALAYSIA

»»INVESTOR-STATE DISPUTE SETTLEMENT

LAOS

EXPROPRIATION AND COMPENSATION

International Commercial Arbitration and Foreign Courts Alternative dispute resolution (ADR) institutions include the Singapore International Arbitration Centre (SIAC), Singapore Mediation Centre (SMC), Maxwell Chambers, Asia’s first integrated dispute resolution complex, and the Singapore Chamber of Maritime Arbitration. Singapore’s extensive arbitration centers have contributed to its development as a regional hub for alternative disputes mechanisms. Arbitral awards in Singapore, for either domestic or international arbitration, are legally binding and enforceable in Singapore domestic courts, as well as in jurisdictions which have ratified the 1958 New York Convention. Domestic arbitration is governed by the Arbitration Act (AA). The AA is also primarily based on the UNCITRAL Model Law.

INDONESIA

Disputes) Act to implement the ICSID in 1968. The New York Convention is enacted into Singapore law in the IA Act and is annexed to the IA Act as the Second Schedule. This allows the enforcement of arbitral awards from the other signatories to the New York Convention. http://www.lexology.com/ library/detail.aspx?g=3f833e8e-722a-4fca8393-f35e59ed1440

CAMBODIA

for good practices in SWF. Singapore is a member of the IMF International Working Group of Sovereign Wealth Funds.   Other investing entities of government funds include EDB Investments Pte Ltd, Singapore’s Housing Development Board, and other government statutory boards with funding decisions driven by goals emanating from the central government.

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Reserves, and a significant proportion of its portfolio is invested in liquid financial market instruments.   GIC does not publish the size of the funds under management, but some industry observers estimate its managed assets exceed US$300 billion. GIC does not invest domestically, but manages Singapore’s international investments, which are generally passive (non-controlling) investments in publicly-traded entities. The United States is its top investment destination, accounting for 34% of GIC’s portfolio as of March 2016, while Asia exJapan accounts for 20%, the Eurozone 12%, Japan 11% and UK 7%. Investments in the United States are diversified and include industrial and commercial properties, student housing, power transmission companies, and financial, retail and business services. Although not required by law, GIC has published an annual report since 2008.   Temasek began as a holding company for Singapore’s state-owned enterprises, now GLCs, but has since branched to other asset classes, and often holds significant stake in companies. As of March 2016, Temasek’s portfolio value reached US$242 billion, and its asset exposure to Singapore was 29%; 40% in the rest of Asia, and 10% in North America. Temasek’s stated goal is to deliver sustainable value to its shareholder, the Singapore government, over the long term. Temasek formerly focused on managing industries to promote economic development, but has since shifted its emphasis to commercial objectives. Temasek has published an annual report since 2004, but only provides consolidated financial statements, which aggregate all of Temasek’s subsidiaries into a single financial report. GIC and Temasek follow the Santiago Principles

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»»REAL PROPERTY

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THAILAND

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PHILIPPINES

Property rights and interests are enforced in Singapore. Residents have access to mortgages and liens, with reliable recording of properties. In the 2017 World Bank Doing Business Report, Singapore ranks second in the world in enforcing contracts and 19th in registering property.   Foreigners are not allowed to purchase public housing (HDB) in Singapore, and prior approval from the Singapore Land Authority is required to purchase landed residential property and vacant residential land. Foreigners are allowed to purchase private sector housing (condominiums or any unit within a building) without the need to obtain prior approval, however they are not allowed to acquire all the apartments within a building or all the units in an approved condominium apartment without prior approval.

»»INTELLECTUAL PROPERTY RIGHTS Singapore has developed one of the stronger intellectual property rights (IPR) regimes in Asia and has brought its IPR laws in line with international standards. However, some concerns remain in certain areas such as business software piracy, online piracy, and enforcement.   The USSFTA ensures that government agencies will not grant approval to patentviolating products, but Singapore does allow parallel imports. Under the amended Patents Act, the patent owner has the right to bring an action to stop an importer of “grey market goods” from importing the patent owner’s patented product if the product has not previously been sold or distributed in Singapore.   The USSFTA ensures protection of test data and trade secrets submitted to the government for product approval purposes. Disclosure of such information is prohibited for a period of five years for pharmaceuticals and ten years for agricultural chemicals. Singapore has no specific legislation concerning trade secrets. Instead, it protects

MALAYSIA

»»INVESTMENT INCENTIVES The GOS offers numerous investment incentives across various sectors for which

RIGHT TO PRIVATE OWNERSHIP AND ESTABLISHMENT

PROTECTION OF PROPERTY RIGHTS

LAOS

Performance requirements are applied uniformly and systematically to both domestic and foreign investors. Singapore has no forced localization policy requiring domestic content in goods or technology. The government does not require investors to purchase from local sources or specify a percentage of output for export. There are no rules forcing the transfer of technology. There are no requirements for foreign IT providers to turn over source code and/or provide access to encryption.  Singapore does not have a data localization policy. The industry regulator is IMDA, a statutory board under the Ministry of Communications and Information (MCI). Personal data is protected under the Personal Data Protection Act (PDPA) of 2014, covering electronic and non-electronic data, and includes provisions that requires companies to ensure that the recipient of data transferred to another country is legally bound by “enforceable obligations” to provide to the transferred personal data a standard of protection that is at least comparable to the protection under the Act.

investors’ commercially valuable proprietary information under common law by the Law of Confidence. U.S. industry has expressed concern that this provision is inadequate.   Singapore is a member of the WTO and a party to the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS). It is a signatory to other international copyright agreements, including the Paris Convention, the Berne Convention, the Patent Cooperation Treaty, the Madrid Protocol, and the Budapest Treaty. The World Intellectual Property Organization (WIPO) Secretariat opened offices in Singapore in 2005 http://www.wipo.int/about-wipo/ en/offices/singapore/. Amendments to the Trademark Act, which took effect in January 2007, fulfill Singapore’s obligations in WIPO’s revised Treaty on the Law of Trademarks.   Singapore ranked 8th in the world in the international IP index conducted by the U.S. Chamber of Commerce’s International IP Index. The index noted that Singapore’s key strengths included an advanced national IP framework, life sciences IP rights, a patent enforcement legal framework that is adequate and generally applied, and copyright framework strengthened in the past several years.  Singapore does not publicly report statistics on seizures of counterfeit goods, and does not score highly on seizure data availability in the U.S. Chamber of Commerce global counterfeiting report, with “no” to all four data transparency questions. It ranked 7th out of 17 countries surveyed in Asia in the European Chamber of Commerce’s 2016 Illicit Trade index, due to low ratings for free trade zone governance and government cooperation with stakeholders in countering illicit goods trade. Singapore is not listed in the U.S. Trade Representative’s (USTR) Special

INDONESIA

MALAYSIA

»»PERFORMANCE AND DATA LOCALIZATION REQUIREMENTS

  There are no restrictions on foreign ownership of industrial and commercial real estate. In December 2011, the GOS enacted an additional effective 10% tax, or Additional Buyer’s Stamp Duty (ABSD), on foreigners who purchase homes in Singapore. In January 2013, the GOS further raised the ABSD to 15%; however, U.S. citizens are accorded national treatment under the FTA, meaning only second and subsequent purchases of residential property will be subject to 7 and 10% ABSD, the same as Singaporean citizens.

CAMBODIA

PHILIPPINES

PERFORMANCE REQUIREMENTS AND INVESTMENT INCENTIVES

foreign investors are eligible. A number of broad-based tax incentives, such as the Automation Support Package, Pioneer Incentive Scheme, Development and Expansion Incentive, and the Investment Allowance Incentive are also available to manufacturing industries. Singapore provides research funding under the Research Innovation Enterprise plan. Singapore’s EDB sponsors a Research Incentive Scheme for Companies (RISC) to award government grants to develop research and development capabilities in strategic areas of technology. The scheme targets businesses registered in Singapore, including foreign firms, and encourage companies to set up research and development centers in Singapore.

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THAILAND

scheme to be approved by the court even if a class of creditors oppose the scheme, provided the dissenting class of creditors are not unfairly prejudiced by the scheme. Bankruptcy is not criminalized in Singapore.

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INVESTMENT CLIMATE STATEMENT


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Singapore’s legal system has its roots in English common law and practice, and is enforced by courts of law. The current judicial process is procedurally competent, fair and

PHILIPPINES

»»LEGAL SYSTEM AND JUDICIAL INDEPENDENCE

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

MALAYSIA

Singapore is part of ASEAN, which is working towards the 2025 ASEAN Economic Community (AEC) blueprint aimed at achieving a single market and production base, with a free flow of goods, services, and investment within the region. While ASEAN is

LAOS

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»»INTERNATIONAL REGULATORY CONSIDERATION

working towards regulatory harmonization, no regional regulatory systems are planned or in place, and agreements and regulations are enacted through national regulatory systems.   WTO’s 2016 trade policy review notes that Singapore’s guiding principle for standardization is to align national standards with international standards, and is an elected member of the ISO and IEC Councils. Singapore encourages the direct use of international standards whenever possible. Singapore Standards (SS) are developed when there is no appropriate international standard equivalent, or when there is a need to customize standards to meet domestic requirements. As at end-2015, Singapore had a stock of 553 SS, about 40% of which were references to international standards. SPRING Singapore, the Agri-Food and Veterinary Authority and the Ministry of Trade and Industry are the three national enquiry points under the TBT Agreement. There are no known reports of omissions in reporting to TBT.   A non-exhaustive list of major international norms and standards referenced or incorporated into the country’ regulatory systems include Base Erosion and Profit Shifting (BEPs) project, Common Reporting Standards (CRS), Basel III, EU Dual-Use Export Control Regulation, 27 International Labor Organization (ILO) conventions on labor rights and governance, UN conventions, and WTO Agreements.

INDONESIA

The government establishes clear rules that foster competition and the U.S.-Singapore FTA enhances transparency by requiring regulatory authorities to consult with interested parties before issuing regulations, and to provide advance notice and comment periods for proposed rules, as well as to publish all regulations. Singapore’s legal, regulatory, and accounting systems are transparent and consistent with international norms.   Notices of proposed legislation to be considered by Parliament are published, including the text of the laws, the dates of the readings, and whether or not the laws eventually pass. The government has established a centralized Internet portal www. reach.gov.sg to solicit feedback on selected draft legislation and regulations, a process that is being used with increasing frequency. There is no stipulated consultative period, but public consultations typically last for four weeks, with results usually consolidated and published on relevant websites. As noted in the “Openness to Foreign Investment” section, some U.S. companies, in particular, in the telecommunications and media sectors, are concerned about the government’s lack of transparency in its regulatory and rulemaking process. These mechanisms also apply to investment laws and regulations.   The Parliament of Singapore website publishes a database of all bills introduced, read and passed in Parliament in chronological order, from 2006. The contents are the actual draft texts of the proposed legislation/

regulatory bodies’ wide discretion to modify regulations and impose new conditions, but in practice agencies use this positively to adapt incentives or other services on a case-by-case basis to meet the needs of foreign as well as domestic companies. Acts of Parliament also confer certain powers on a Minister or other similar persons or authorities to make rules or regulations in order to put the Act into practice, and are known as subsidiary legislation. Singapore’s legal and accounting procedures are transparent and consistent with international norms, and they rank highly in international comparisons http://worldjusticeproject.org/rule-of-lawindex. Singapore’s prescribed accounting standards (Financial Reporting Standards or FRS) are aligned with those of the International Accounting Standards Board. Companies can deviate from these standards when required to present a true and fair set of financial statements. Singaporeincorporated, publicly-listed companies can use certain alternative standards such as International Accounting Standards (IAS) or the U.S. Generally Accepted Accounting Principles (U.S. GAAP) if they are listed on foreign stock exchanges that require these standards. They do not need to reconcile their accounts with FRS. All other Singaporeincorporated companies must use FRS unless the Accounting and Corporate Regulatory Authority exempts them.

CAMBODIA

PHILIPPINES

TRANSPARENCY OF THE REGULATORY SYSTEM

legislative amendments. However, there is no centralized online location where key regulatory actions are published. Regulatory actions are published separately on websites of Statutory Boards https://www.parliament. gov.sg/publications/bills-introduced.   Industry self-regulation occurs in several areas, including advertising and in corporate governance. Advertising Standards Authority of Singapore (ASAS) https://asas.org.sg/, an advisory council under the Consumers Association of Singapore, administers the Singapore Code of Advertising Practice, which focuses on ensuring that advertisements are legal, decent and truthful. Singapore has a private sector-led Council on Corporate Disclosure and Governance to implement the country’s Code of Corporate Governance. Compliance with the Code is not mandatory but listed companies are required under the Singapore Exchange Listing Rules to disclose their corporate governance practices and give explanations for deviations from the Code in their annual reports. The stock exchange, SGX, plays the role of a self-regulatory organization (SRO) in listings, market surveillance, and member supervision to uphold the integrity of the market and ensure participants’ adherence to trading and clearing rules. There have been no reports of discriminatory practices aimed at foreign investors.   Rule-making authority is vested in the Parliament to pass laws that determine the regulatory scope, purpose, rights and powers of the regulator and the legal framework for the industry. Regulatory authority is vested in Government Statutory Boards, which are organizations that have been given autonomy to perform an operational function by legal statutes passed as Acts in parliament, and report to a specific Ministry. Local laws give

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301 report, or the notorious market report. http://illicittradeindex.eiu.com/ECC%20 Illicit%20trade%20paper%20V9_Oct12.pdf

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SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

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»»MONEY AND BANKING SYSTEM

Singapore’s banking system is sound and well-regulated by the Monetary Authority of Singapore (MAS), and it serves as a financial hub for the region. Banks have a very high domestic penetration rate, and according to World Bank Financial Inclusion indicators, 96.4% of persons held a financial account

MALAYSIA

The Competition Commission of Singapore (CCS) is a statutory board under the Ministry of Trade and Industry and is tasked to administer and enforce the Competition Act. The Act contains provisions on anticompetitive agreements, decisions, and practices; abuse of dominance; enforcement and appeals process; and mergers and acquisitions. The Competition Act was enacted in 2004 in accordance with the U.SSingapore FTA commitments, which contains specific conduct guarantees to ensure that Singapore’s government-linked corporations (GLCs) will operate on a commercial and non-discriminatory basis towards U.S. firms. GLCs with substantial revenues or assets are also subject to enhanced transparency requirements under the FTA.

The government takes a favorable stance towards foreign portfolio investment, fixed asset investments in particular. While it welcomes capital market investments, the government has introduced macroprudential policies aimed at reducing foreign speculative inflows in the real estate sector since 2009. The government promotes Singapore’s position as an asset and wealth management center, and asset under management grew 9% to US$1.8 trillion (S$2.6 trillion) in 2015 – the latest year for which data are available.   GOS facilitates the free flow of financial resources into product and factor markets, and the SGX is Singapore’s stock market. An effective regulatory system exists to encourage and facilitate portfolio investment. Credit is allocated on market terms and foreign investors can access credit, U.S. dollars, Singapore dollars (SGD), and other foreign currencies on the local market. The private sector has access to a variety of credit instruments through banks operating in Singapore. The government respects IMF Article VIII by refraining from restrictions on payments and transfers for current international transactions.

LAOS

»»COMPETITION AND ANTI-TRUST LAWS

»»CAPITAL MARKETS AND PORTFOLIO INVESTMENT

in 2014 (latest year available). According to a 2014 McKinsey Asia Personal Financial Services Survey, the average number of banking products held by the customer is 5.72, while 94% of respondents used internet banking via PC or smartphone. Local Singapore banks are relatively small by regional standards, but are reasonably profitable and have stronger capital levels and credit ratings than many of their peers in the region. Banks are statutorily prohibited from engaging in non-financial business. Banks can hold 10% or less in non-financial companies as an “equity portfolio investment.” As of 2016Q4, the non-performing loans ratio (NPL ratio) of the three local banks averaged 1.4%, up from the NPL ratio of 1.1 in 2015Q4. The World Bank records Singapore’s banking sector overall NPL ratio at 1.068 in 2016.   Foreign banks require licenses to operate in the country. The tiered licenses, for Merchant, Offshore, Wholesale, Full Banks and Qualifying Full Banks (QFBs) subject banks to further prudential safeguards in return for offering a greater range of services. Only Full Banks and QFBs can operate Singapore dollar retail banking activities, but are subject to restrictions on the number of places of business, ATMs and ATM networks. U.S. financial institutions enjoy phasedin benefits under the USSFTA. Since 2006, U.S.-licensed full service banks that are also QFBs have been able to operate at an unlimited number of locations (branches or off-premises ATMs) versus 25 for non-U.S. full service foreign banks with QFB status.   Under the OECD Common Reporting Standards (CRS) which has been in effect since January 2017, Singapore-based Financial Institutions (SGFIs) – depository institutions such as banks, specified insurance companies, investment entities and custodial

INDONESIA

Singapore strives to promote an efficient, business-friendly regulatory environment. Tax, labor, banking and finance, industrial health and safety, arbitration, wage and training rules and regulations are formulated and reviewed with the interests of both foreign investors and local enterprises in mind. Starting in 2005, a Rules Review Panel, comprising senior civil servants, began overseeing a review of all rules and regulations; this process will be repeated every five years. A Pro-Enterprise Panel of high-level public sector and private sector representatives examines feedback from businesses on regulatory issues and provides recommendations to the government.   Major legislative amendments over the past year include amendments to the Companies Act and Limited Liability Partnerships Act, which went with effect in March 2017, aimed at improving transparency, reducing the regulatory burdens of business, and improving debt restructuring processes in Singapore. The Judicial Management

EFFICIENT CAPITAL MARKETS AND PORTFOLIO INVESTMENT

CAMBODIA

»»LAWS AND REGULATIONS ON FOREIGN DIRECT INVESTMENT

(bankruptcy proceedings) process has been tweaked to allow companies to apply for judicial management when the company is unlikely to pay its debts; the Court will be given an overriding power to grant a judicial management order even if a secured creditor objects, and additional rescue financing provisions will be included.   The Monetary Authority of Singapore (MAS) has also tightened enforcement of money laundering provisions. It set up an anti-money laundering unit in November 2016, and has stepped up enforcement and pressed unprecedented jail terms on private bankers associated with the 1Malaysia Development Bhd (1MDB) case. MAS also fined several banks for lapses in internal controls, and ordered the closure of Falcon Bank and BSI bank, which were closely associated with the transactions.

BURMA

reliable. In the 2016 Rule of Law Index by World Justice Project, it is ranked overall ninth in the world, ranked first on order and security and regulatory enforcement, second in absence of corruption, fourth on civil and criminal justice, 20th on constraints on government powers, 24th on open government, and 36th on fundamental rights. Singapore’s legal procedures are ranked second in the world in World Bank’s 2016 Ease of Doing Business contract enforcement sub-index measuring speed, cost, and quality of judicial processes. The judicial system remains independent of the executive branch and the executive does not interfere in judiciary matters.

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THAILAND VIETNAM

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PHILIPPINES

The awareness and implementation of corporate social responsibility (CSR) in Singapore has been increasing since the formation of the Singapore Compact for Corporate Social Responsibility, which was set up to provide a forum for collaboration, support, and information sharing on good CSR practices. In June 2015, the society rebranded itself as the Global Compact Network Singapore (GCNS) under the United Nations Global Compact (UNGC) network, with the goals of encouraging companies to adopt sustainability principles related to human and labor rights, environmental

MALAYSIA

RESPONSIBLE BUSINESS CONDUCT

LAOS

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»»PRIVATIZATION PROGRAM

The government has ongoing plans to privatize several GLCs, though the government is likely to retain controlling stakes in strategically important sectors, including telecommunications, media, public transportation, defense, port, gas, electricity grid, and airport operations. The Energy Market Authority (EMA) plans to fully open up the electricity retail market to competition by the second half of 2018, extending the liberalization of the retail market from commercial and industrial consumers with an average monthly electricity consumption of at least 2,000 kWh to households and smaller businesses. The bidding process for retail electricity markets has not been announced. SingTel will also divest ownership of NetLink Trust, which owns the infrastructure of the all-fiber national broadband network (NBN), by April 2018. Divestment is planned to be conducted by Initial Public Offering (IPO), which will be non-discriminatory and transparent. Foreign investors will be able to participate in these privatization programs.

INDONESIA

Singapore has an extensive network of government-linked corporations (GLC) that are fully or partially owned by Temasek Holdings, a holding company with the Singapore Minister for Finance as its sole shareholder. Singapore GLCs play a substantial role in Singapore’s domestic economy, especially in strategically important

  GLCs operate on a commercial basis and compete on a generally equal basis with private businesses, both local and foreign. Singapore officials highlight that the government does not interfere with the operations of GLCs or grant them special privileges, preferential treatment or hidden subsidies, asserting that GLCs are subject to the same regulatory regime and discipline of the market as private sector companies. Observers, however, have been critical of cases where GLCs have entered into new lines of business or where government agencies have “corporatized” certain government functions, in both circumstances entering into competition with already-existing private businesses. Some private sector companies have said they encountered unfair business practices and opaque bidding processes that appeared to favor incumbent, governmentlinked firms. In addition, they note that the GLC’s institutional relationships with the government give them natural advantages in terms of access to cheaper funding and opportunities to shape the economic policy agenda in ways that benefit their companies.   The USSFTA contains specific conduct guarantees to ensure that GLCs will operate on a commercial and non-discriminatory basis towards U.S. firms. GLCs with substantial revenues or assets are also subject to enhanced transparency requirements under the USSFTA. In accordance with its USSFTA commitments, Singapore enacted the Competition Act in 2004 and established the Competition Commission of Singapore in January 2005. The Act contains provisions on anti-competitive agreements, decisions, and practices; abuse of dominance; enforcement and appeals process; and mergers and acquisitions.

CAMBODIA

COMPETITION FROM STATE-OWNED ENTERPRISES

sectors including telecommunications, media, public transportation, defense, port, gas, electricity grid, and airport operations. In addition, the GLCs are also present in many other sectors of the economy, including banking, subway, airline, consumer/ lifestyle, commodities trading, oil and gas engineering, postal services, infrastructure, and real estate. Consolidated figures of total assets, net income, and numbers employed in state-owned enterprises (SOEs) are not publicly available, but Temasek’s domestic asset ownership stake in SOEs is estimated at USD $70 billion. There is no published list of SOEs.  Temasek’s annual report notes that its portfolio companies are guided and managed by their respective boards and management, and Temasek does not direct their business decisions or operations. However, as a substantial shareholder, corporate governance within GLCs typically are guided or influenced by policies developed by Temasek. There are differences in corporate governance disclosures and practices across the GLCs, and GLC boards are allowed to determine their own governance practices, with Temasek advisors occasionally meeting with the companies to make recommendations. GLC board seats are not specifically allocated to government officials, although it “leverages on its networks to suggest qualified individuals for consideration by the respective boards”, and leaders formerly from the armed forces or civil service are often represented on boards and fill senior management positions. Temasek exercises its shareholder rights to influence the strategic directions of its companies but does not get involved in the day-to-day business and commercial decisions of its firms and subsidiaries.

BURMA

institutions – are required to establish the tax residency status of all their account holders, collect and retain CRS information for all non-Singapore tax residents in the case of new accounts and report to tax authorities the financial account information of account holders who are tax residents of jurisdictions with which Singapore has a Competent Authority Agreement (CAA) to exchange the information.   U.S. financial regulations do not restrict foreign banks’ ability to hold accounts for U.S. citizens. Anecdotal evidence suggests, however, that U.S. citizens may be constrained in their ability to open bank accounts at some institutions, as some Americans have been turned away by banks reportedly, or required to meet a higher deposit threshold, as a result of the additional reporting requirements associated with the U.S. Foreign Account Tax Compliance Act (FATCA) and other U.S. financial regulations. U.S. Embassy Singapore routinely encounters U.S. citizens with complaints about not being allowed to open accounts. There have also been cases of U.S. citizens with existing accounts who have been asked by their banks to close them. U.S. Citizens are encouraged to alert the nearest U.S. Embassy of any practices they encounter with regard to the provision of financial services.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


THAILAND

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

PHILIPPINES

Corrupt Practices Investigation Bureau 2 Lengkok Bahru, Singapore 159047 +65 6270 0141 CPIB_Website_Email@cpib.gov.sg

MALAYSIA VIETNAM

Image courtesy of the U.S. Commercial Service Singapore

Resources to Report Corruption Contact at government agency responsible for comabing correuption:

LAOS

POLITICAL VIOLENCE Singapore’s political environment is stable and there is no history of incidents involving politically motivated damage to foreign investments in Singapore. The ruling People’s Action Party (PAP) has dominated Singapore’s parliamentary government since 1959, and currently controls 83 of the 89 regularly contested parliamentary seats. Singapore opposition parties, which currently hold six regularly contested parliamentary seats and three additional seats reserved to the opposition by the constitution, do not usually espouse views that are radically different from the mainstream of Singapore political opinion.

CORRUPTION Singapore actively enforces its strong anticorruption laws and corruption is not cited as a concern for foreign investors. Transparency International’s 2016 Corruption Perception index ranks Singapore 7th of 176 countries globally, the highest ranking for an Asian country. The Prevention of Corruption Act (PCA), and the Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act provide the legal basis for government action by the Corrupt Practices Investigation Bureau (CPIB), which is the only agency authorized under the PCA to investigate corruption offences and other related offences. These laws cover acts of corruption both within Singapore as well as those committed by Singaporeans abroad. When cases of corruption are uncovered, whether in the public or private sector, the government deals with them firmly, swiftly, and publicly. The anti-corruption laws extend to family members of officials, and to political parties. The CPIB is effective and non-discriminatory, and Singapore is generally perceived to be one of the least corrupt countries in Asia and the world, and corruption is not identified as an obstacle to FDI in Singapore. Singapore is a signatory to the UN Anticorruption Convention, but not the OECD Anti-Bribery Convention.

INDONESIA

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and give explanations for deviations from the Code in their annual reports. http://www. singaporelaw.sg/sglaw/laws-of-singapore/ commercial-law/chapter-16   There are independent NGOs promoting and monitoring RBC. Those monitoring or advocating around RBC are generally able to do their work freely within most areas of RBC. However, labor unions are tightly controlled and legal rights to strike are granted with restrictions under the Trade Disputes Act.   Singapore has no oil, gas, or mineral resources and is not a member of the Extractive Industries Transparency Initiative (EITI). A small sector processes and rare minerals, and complies with responsible supply chains and conflict mineral principles. Under the new AML/CFT framework introduced in 2014, it is a requirement for Corporate Service Providers to develop and implement internal policies, procedures and controls to comply with Financial Action Task Force (FATF) recommendations on combating of money laundering and terrorism financing.

CAMBODIA

in particular (due to the latter’s exemption from the Employment Act which stipulates the rights of workers), remains an area of advocacy by civil society groups. The government has taken incremental steps to improve the channels of redress and enforcement of workers’ rights; however, key concerns about legislative protections remain unaddressed for domestic migrant workers. The government generally encourages businesses to comply with international standards. However, there are no specific mentions of the host government encouraging adherence to the OECD Due Diligence Guidance, or supply chain due diligence measures.   Companies in Singapore are principally governed by the Companies Act. Key areas of corporate governance covered under the act include separation of ownership from management, fiduciary duties of directors, shareholder remedies, and capital maintenance rules. Limited liability partnerships are governed by the Limited Liability Partnership Act. Certain provisions in other statutes such as the Securities and Futures Act are also relevant to companies. Singapore has a private sector-led Council on Corporate Disclosure and Governance to implement the country’s Code of Corporate Governance. Compliance with the Code is not mandatory but listed companies are required under the Singapore Exchange Listing Rules to disclose their corporate governance practices

BURMA

conservation, and anti-corruption. GCNS facilitates exchanges, conducts research, and provides training in Singapore to build capacity in areas including sustainability reporting, supply chain management, ISO 26000, measuring and reporting carbon emissions.   The SGX implemented a requirement in June 2011 that listed companies report on their sustainable business practices. The Singapore Environmental Council (SEC) developed a green labeling scheme which endorses environmentally-friendly products, numbering over 3,000 from 27 countries. The Association of Banks in Singapore (ABS) issued guidelines to banks in Singapore in October 2015 encouraging them to adopt sustainable lending practices, including the integration of environmental, social and governance (ESG) principles into their lending and business practices. While voluntary, the move marks the first time Singapore’s financial sector has been asked to play a significant role in sustainable development.   Singapore has not developed a National Action Plan on business and human rights, but supports and promotes responsible business practices and encourages foreign and local enterprises to follow generally accepted CSR principles. The government does not explicitly factor responsible business conduct (RBC) policies into its procurement decisions.   The host government effectively and fairly enforces domestic laws with regard to human rights, labor rights, consumer protection, environmental protections, and other laws/ regulations intended to protect individuals from adverse business impacts. The private sector’s impact on migrant workers and their rights, and domestic migrant workers

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT

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THAILAND VIETNAM

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PHILIPPINES

LABOR As of December 2016, Singapore’s labor market totaled 3.67 million workers; this includes about 1.39 million foreigners of which about 85% are unskilled or semiskilled workers. The labor market continues to be tight, with unemployment at 2.2% in 2016. Local labor laws allow for relatively free hiring and firing practices. Either party can terminate employment by giving the other party the required notice. The Ministry of Manpower (MOM) must approve

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

MALAYSIA

Under the 1966 Investment Guarantee Agreement with Singapore, the Overseas Private Investment Corporation (OPIC) offers insurance to U.S. investors in Singapore against currency inconvertibility, expropriation, and losses arising from war. Singapore became a member of the Multilateral Investment Guarantee Agency (MIGA) in 1998. OPIC does not currently have any ongoing projects in Singapore.

LAOS

PHILIPPINES

OPIC AND OTHER INVESTMENT INSURANCE PROGRAMS

employment of foreigners. Since 2011 the Government has introduced policy measures to support productivity increases coupled with reduced dependence on foreign labor. The MOM has started tightening foreign labor approvals, resulting in many businesses in Singapore voicing discontent at not being able to access sufficient labor.   According to a 2016 JP Morgan-Singapore Management University report https://socsc. smu.edu.sg/news/2016/nov/01/managingskills-challenges-asean-5, Singapore faces shortages of specialized labor skills in the information and communication technology (ICT) industry. It will require a further 15,000 workers, particularly in the areas of cyber security, data analytics and development and network infrastructure in 2017. Lower-level software-engineering and programming workers are also in short supply.   SkillsFuture is a government initiative managed by SkillsFuture Singapore (SSG), a statutory board under the Ministry of Education, designed to provide all Singaporeans with the enhanced opportunities and capacity building. SSG also administers the Singapore Workforce Skills Qualifications (WSQ), a national credential system that trains, develops, assesses and certifies skills and competencies for the workforce.   The government regulates the inflow of foreign workers through the Foreign Worker Levy (FWL) and the Dependency Ratio Ceiling (DRC). The DRC is the maximum permitted ratio of foreign workers to the total workforce that a company is allowed to hire, and serves as a quota on the hiring of foreign workers. The DRC varies across sectors. Employers of work permit holders are required to pay a monthly FWL to the government. The FWL varies according to the skills, qualifications

INDONESIA

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with which Singapore has a Competent Authority Agreement (CAA) to exchange the information. This will facilitate the automatic exchange of information between Singapore and CAA partners on account numbers, account holder details, account balances on reportable accounts, as well as details of interest, earnings, and proceeds from asset disposals on custodian accounts. As of March 15, 2017, Singapore has concluded 20 bilateral CAAs, but is not a signatory to the Multilateral Competent Authority Agreement http://www.oecd.org/tax/transparency/ technical-assistance/aeoi/whatisthemultilateralcompetentauthorityagreement.htm

CAMBODIA

Singapore has 35 bilateral investment treaties (BIT) currently in force. These agreements mutually protect nationals or companies of either economy against war and noncommercial risks of expropriation and nationalization. It has signed an additional eight BITs which have yet to be implemented.   Singapore has 12 bilateral and 9 regional free trade agreements (FTA) currently in force. Singapore has signed free trade/ economic cooperation agreements that include investment chapters with Australia, China, the European Free Trade Association (Switzerland, Norway, Lichtenstein, and Iceland), India, Japan, New Zealand, Panama, Peru, South Korea, Costa Rica, the United States, and Chinese Taipei. Singapore also has agreements with Jordan and the Gulf Cooperation Council (comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates), but these agreements do not contain investment chapters. Singapore is a member of ASEAN and the ASEAN Free Trade Area, which has in force FTAs with Australia and New Zealand, China, India, South Korea, and a Comprehensive Economic Partnership Agreement with Japan. Singapore also has a Trans-Pacific Strategic Economic Partnership Agreement with Brunei, Chile, and New Zealand.   Singapore has completed negotiations with the European Union and Turkey and is negotiating FTAs with Canada, Mexico, Pakistan, Ukraine, and Sri Lanka. ASEAN is currently negotiating FTA extensions with India and Japan to cover services and investments, as well as the Regional Comprehensive Economic Partnership (RCEP), which includes ASEAN members plus Australia, China, India, Japan, New Zealand,

and South Korea.   Singapore has signed Avoidance of Double Taxation Agreements with 82 countries, but not with the United States. U.S. financial regulations do not restrict foreign banks’ ability to hold accounts for U.S. citizens. Anecdotal evidence suggests, however, that U.S. citizens may be constrained in their ability to open bank accounts at some institutions, as some Americans have been turned away by banks, or required to meet a higher deposit threshold, reportedly as a result of the additional reporting requirements associated with the U.S. Foreign Account Tax Compliance Act (FATCA) and other U.S. financial regulations. U.S. Embassy Singapore routinely encounters U.S. citizens with complaints about difficulty in opening accounts or not being allowed to open accounts. There have also been cases of U.S. citizens with existing accounts who have been asked by their banks to close them. U.S. citizens are encouraged to alert the nearest U.S. Embassy of any practices they encounter with regard to the provision of financial services. No other tax disputes have been reported.   Recent major changes to the tax regime include the implementation of OECD’s Common Reporting Standards (CRS), as well as updates to tax incentives and regimes in line with Base Erosion and Profit Shifting minimum standards. Under the CRS, which has been in effect since January 1, 2017, Singapore-based Financial Institutions are required to establish the tax residency status of all their account holders, collect and retain CRS information for all nonSingapore tax residents in the case of new accounts, and report to tax authorities the financial account information of account holders who are tax residents of jurisdictions

BURMA

THAILAND

BILATERAL INVESTMENT AGREEMENTS

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

PHILIPPINES THAILAND

THAILAND

MALAYSIA VIETNAM

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LAOS

including mediation for labor disputes. Salary-related disputes which are not resolved by mediation are covered by the newly formed Employment Claims Tribunals under the State Courts. Disputing parties may also submit their case to the tripartite Industrial Arbitration Court, composed of employee and management representatives and chaired by a judge. In some situations the law provides for compulsory arbitration. The court must certify collective agreements before they go into effect. The court may refuse certification at its discretion on the ground of public interest.   The legal framework in Singapore provides for some restrictions in the registration of trade unions, labor union autonomy and administration, the right to strike, who may serve as union officers or employees, and collective bargaining. Under the Trade Union Act (TUA), every trade union must register with the Registrar of Trade Unions, which has broad discretion to grant, deny, or cancel union registration. The TUA limits the objectives for which unions can spend their funds, including for contributions to a political party or for political purposes and allows the Registrar to inspect accounts and funds “at any reasonable time”. Legal rights to strike are granted with restrictions under the Trade Disputes Act. Strikes cannot be conducted for any reason apart from a dispute in the trade or industry in which the strikers are employed, and it is illegal to conduct a strike if it is “designed or calculated to coerce the Government either directly or by inflicting hardship on the community.” Workers in “essential services” are required to give 14 days’ notice to an employer before conducting a strike. Although workers, other than those employed in the three essential services of water, gas and electricity, may

INDONESIA

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  Labor laws are not waived in order to attract or retain investment in Singapore. There are no additional or different labor law provisions in free trade zones.   Collective bargaining is a normal part of labor-management relations in all sectors. About 28.9% of the workforce is unionized. Almost all unions are affiliated with the National Trades Union Congress (NTUC), an umbrella organization with close relationship with the PAP ruling party and the government. The current NTUC Secretary General is also a Minister in the Prime Minister’s Office. Given that nearly all unions are NTUC affiliates, the NTUC has almost exclusive authority to exercise collective bargaining power on behalf of employees. Union members may not reject collective agreements negotiated between their union representatives and an employer. Although transfers and layoffs are excluded from the scope of collective bargaining, employers consult with unions on both problems, and the Tripartite Panel on Retrenched Workers issues guidelines calling for early notification to unions of layoffs. Data on coverage of collective bargaining agreements is not publicly available. The Industrial Relations Act (IRA) regulates collective bargaining. The Industrial Arbitration Courts must certify any collective bargaining agreement before it is deemed in effect and can deny certification on public interest grounds. Additionally, the IRA restricts the scope of issues over which workers may bargain, excluding bargaining on hiring, transfer, promotion, dismissal, or reinstatement of workers.   Most labor disagreements are resolved through conciliation and mediation by MOM. From April 2017, the Tripartite Alliance for Dispute Management under MOM will provide advisory and mediation services,

CAMBODIA

before being posted to Singapore. ICT would still be required to meet all EP criteria, but the requirement for an advertisement in the jobs data bank would be waived. In April 2016, MoM, outlined measures to refine the work pass applications process, looking not only at the qualifications of individuals, but of companies. Companies found not to have a “healthy Singaporean core”; demonstrated commitment to developing a Singaporean core, and not found to be “relevant” to Singapore’s economy and society, will be labeled “triple weak” and put on a watch list. Companies unable to demonstrate progress may have work pass privileges suspended. As of March 2017, approximately 250 companies have been put on the watch list.   The Employment Act covers all employees under a contract of service, and under the act, employees who have served the company for at least two years are eligible for retrenchment benefits, and the amount of compensation depends on the contract of service or what is agreed collectively. Employers have to abide by notice periods in the employment contract before termination, and stipulated minimum guidelines in the absence of a notice period previously agreed upon, or provide salary in lieu of notice. Dismissal on grounds of wrongful conduct by the employee is differentiated from retrenchments in the labor laws, and is exempted from the above requirements. Employers must notify MOM of retrenchments within five working days after they notify the affected employees to enable the relevant agencies to help affected employees find alternative employment and/or identify relevant training to enhance employability. Singapore does not provide unemployment benefits, but provides training and job matching services to retrenched workers.

BURMA

and experience of their employees at the time of recruitment https://www.rikvin. com/services/singapore-business-support/ recruitment/. The FWL is set on a sector-bysector basis and is subject to annual revisions. FWLs have progressively increased for most sectors since 2012.   MOM requires employers to consider Singaporeans before hiring skilled professional foreigners. The Fair Consideration Framework (FCF), implemented in August 2014, affects employers who apply for Employment Passes (EP), the work pass for foreign professionals working in professional, manager and executive (PME) posts. Companies have noted inconsistent and increasingly burdensome documentation requirements and excessive qualification criteria to approve EP applications. Under the rules, firms making new EP applications must first advertise the job vacancy in a new jobs bank administered by Workforce Singapore (WSG) for at least 14 days. The jobs bank will be free for use by companies and job seekers and the job advertisement must be open to all Singaporeans. Employers are encouraged to keep records of their interview process as proof that they have done due diligence in trying to look for a Singaporean worker. If an EP is still needed, the employer will have to make a statutory declaration that a job advertisement with the national jobs bank had been made. Some exceptions have been made for smaller firms with 25 or fewer employees and jobs which pay a fixed monthly salary of USD $8,730 (SGD $12,000) or more will not be subjected to the advertising requirement. Consistent with Singapore’s WTO obligations, intracorporate transfers (ICT) are allowed for managers, executives, and specialists who had worked for at least one-year in the firm

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

FOREIGN DIRECT INVESTMENT AND FOREIGN PORTFOLIO INVESTMENT STATISTICS Key Macroeconomic Data, U.S. FDI in Host Country/Economy USG or International Source Host Country Statistical source*

USG or international statistical source

of Data: BEA; IMF; Eurostat; UNCTAD, Other

Economic Data Host Country Gross Domestic Product (GDP) ($M USD)

Year

Amount

Year

Amount www.worldbank.org/en/ country

2015

$291,247

2015

$292,739

http://www.singstat. gov.sg/statistics/ browse-by-theme/ national-accounts http://bea.gov/international/

U.S. FDI in partner country ($M USD, stock positions)

direct_investment_

2015

$173,641

2015

$228,666

multinational_companies_ comprehensive_data.htm http://www.singstat.gov.sg/

PHILIPPINES

BEA data available at

MALAYSIA

PHILIPPINES

Singapore has ten free-trade zones (FTZs) in five geographical areas operated by three FTZ authorities, PSA Corporation Limited, Jurong Port Pte Ltd, and Changi Airport Group (Singapore) Pte Ltd. The FTZs, which include port facilities, air cargo terminals, and logistics areas, may be used for storage and repackaging of import and export cargo, and goods transiting Singapore for subsequent re-export. Manufacturing is not carried out within the zones. Foreign and local firms have equal access to the FTZ facilities.

LAOS

statistics/browse-by-theme/ investment-tables

2015

$11,153

2015

$ 19,423

Total inbound stock of FDI as % host GDP

2015

3.8%

2015

6.7%

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BEA data available at http://bea.gov/ international/ direct_investment_ multinational_companies_ comprehensive_data.htm

VIETNAM

Host country’s FDI in the United States ($M USD, stock positions)

THAILAND

THAILAND

FOREIGN TRADE ZONES/FREE PORTS/TRADE FACILITATION

INDONESIA

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Act, the Retirement and Re-Employment Act and the Child Development Co-Savings Act; and (ii) contractual salary-related claims from all employees except domestic workers, public servants and seafarers. All parties are required to go through mediation with the Tripartite Alliance for Dispute Management (TADM) before their claims can be heard. There will be a limit of S$30,000 (US$20,690) on claims for cases with union involvement, and S$20,000 (US$13,793) for all other claims. Prior to April 2017, TADM arbitration was available only to those employees covered under the Employment Act who earned less US$3,180 per month for cases of salary arrears, breach of individual employment contracts and payment of retrenchment benefits.

CAMBODIA

Act and form the basis of wage negotiations between unions and management. The NWC recommendations apply to all employees in both domestic and foreign law firms, and across the public and private sectors. The level of implementation is generally higher among unionized companies compared to non-unionized companies.  MOM is responsible for combating labor trafficking and improving working conditions for workers, and generally enforces anti-trafficking legislation, although some workers in low-wage and unskilled sectors are vulnerable to labor exploitation and abuse. PHTA sets out harsh penalties (including up to nine strokes of the cane and 15 years’ imprisonment) for those found guilty of trafficking, including forced labor, or abetting such activities. The government developed a mechanism for referral of forced labor, among other trafficking-in-persons activities, to the interagency taskforce, cochaired by the Ministry of Home Affairs and the Ministry of Manpower. Some observers note that the country’s employer sponsorship system made legal migrant workers vulnerable to forced labor, because they cannot change employers without the consent of the current employer. MOM effectively enforces laws and regulations pertaining to child labor. Penalties for employers that violated child labor laws were subject to fines and/or imprisonment, depending on the violation. Government officials assert that child labor is not a significant issue. The incidence of children in formal employment is low, and almost no abuses are reported.   A new Employment Claims Tribunal will be established from April 2017 to deal with salary-related disputes. The Tribunal will hear: (i) statutory salary-related disputes from employees covered under the Employment

BURMA

strike, no workers did so since 1986 with the exception of a strike by bus drivers in 2012. The TUA bars non-citizens from serving as union officers or employees, unless prior written approval is received from the Minister for Manpower.   Labor protections are governed by the Employment Act, which prohibits all forms of forced or compulsory labor and the Prevention of Human Trafficking Act (PHTA), which strengthens labor trafficking victim protection. Labor laws set the standard legal workweek at 44 hours, with one rest day each week, and establish a framework for workplaces to comply with occupational safety and health standards, with regular inspections designed to enforce the standards. MOM effectively enforces laws and regulations establishing working conditions and comprehensive occupational safety and health (OSH) laws, and implements enforcement procedures and promoted educational and training programs to reduce the frequency of job-related accidents. (see the U.S. State Department Human Rights Report: http://www.state.gov/j/drl/rls/hrrpt/ humanrightsreport/#wrapper).   Singapore has no across the board minimum wage law, although there are some exceptions in certain low skill industries. Generally, the government follows a policy of allowing free market forces to determine wage levels. The National Wage Council (NWC), a tripartite body comprising a Chairman and representatives from the Government, employers and unions, recommends non-binding wage adjustments on an annual basis. The NWC recommendations apply to all employees in both domestic and foreign firms, and across the private and public sectors. While the NWC wage guidelines are not mandatory, they are published under the Employment

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI

Direct Investment from/in Counterpart Economy Data From Top Five Sources/To Top Five Destinations (US Dollars, Millions)

Inward Direct Investment

BURMA

100%

Total Outward

474,854

METHODS OF PAYMENT

100%

$169,187

19.5%

China

$86,402

18.2%

Japan

$64,104

7.4%

Cayman Islands

$45,424

9.6%

British Virgin Islands

$61,502

7.1%

Hong Kong

$37,634

7.9%

Cayman Islands

$57,966

6.7%

Indonesia

$32,428

6.8%

United Kingdom

$49,433

5.7%

Malaysia

$29,037

6.1%

“0” reflects amounts rounded to +/- USD 500,000.

Portfolio Investment Assets

MALAYSIA

$987,596

100%

All Countries

$493,555

100%

All Countries

$494,041

100%

United States

$271,041

27.4%

United States

$121,150

24.5%

United States

$149,891

30.3%

Mainland China

$92,409

9.4%

Mainland China

$65,850

13.3%

India

$29,308

5.9%

India

$60,342

6.1%

India

$31,033

6.3%

Mainland China

$26,559

5.4%

Republic of Korea

$42,294

4.3%

Japan

$28,623

5.8%

Republic of Korea

$20,088

4.1%

United Kingdom

$34,088

3.5%

Republic of Korea

$22,205

4.5%

United Kingdom

$18,240

3.7%

CONTACT FOR MORE INFORMATION ON THE INVESTMENT CLIMATE STATEMENT

BANKING SYSTEMS

27 Napier Road Singapore 258508 +65-6476-9168 Email: ElgadiNN@state.gov

VIETNAM

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- 107 -

VIETNAM

Singapore is a reputable international financial center. It is a leading world foreign exchange trading center and trader in derivatives. There are about 900 local and

THAILAND

Ms. Nashwa Elgadi, Economic Officer

PHILIPPINES

PHILIPPINES

All Countries

Total Debt Securities

Equity Securities

MALAYSIA

THAILAND

Total

LAOS

LAOS

Top Five Partners (US Dollars, Millions)

INDONESIA

Sources of Portfolio Investment

foreign banking and financial institutions in Singapore that provide services relating to trade financing, foreign exchange, derivatives products, capital markets activities, loan syndication, underwriting, mergers and acquisitions, asset management, securities trading, financial advisory services and specialized insurance services.   The Monetary Authority of Singapore (MAS) performs all the functions of a central bank including the issuance of currency. The unit of legal tender is the Singapore dollar. The MAS is a wholly owned and controlled statutory board under the Ministry of Finance; it is responsible for all matters relating to banks and financial institutions. Besides regulating financial institutions, the MAS has a Financial Sector Promotion Department that promotes new financial activities, develops IT infrastructure and manpower resources for the financial sector, and designs appropriate incentives to attract international financial firms to conduct activities in Singapore.   In October 2005, Singapore enacted the Deposit Insurance Act and the deposit insurance program took effect from April 1, 2006. In the event that a bank or finance company fails, the program compensates individuals and charities for the first S$20,000 (about US$14,500) of their Singapore dollar deposits in standard savings, current and fixed deposit accounts, and net of liabilities. The program compensates depositors through a fund built up from contributions by full banks and finance companies.

CAMBODIA

United States

Singapore has a well-developed financial system, which offers a full range of export finance instruments. Shipments are generally made under letters of credit and sight drafts (or bills of exchange), depending on the exporter’s preference and the extent of past dealings with the purchaser. Standard credit terms are generally 30 to 90 days and they are allocated on market terms. Quotations are generally made on a C.I.F. basis. Prices given in U.S. dollars should be clearly stated to avoid confusion with the Singapore dollar. Exporters making quotations in Singapore dollars should consult their banks for the prevailing exchange rate. Singapore uses the metric system, so it is beneficial for price/quantity quotations to be prepared accordingly.   In Singapore, there are easily 70 different types of credit cards on offer http:// moneyline.sg/compare/credit-cards/ all with different promotions, services and conditions. However, charge cards face intense competition from credit cards catering to high net worth individuals. For example, some banks that issue charge cards require potential card holders to have S$5 million (US$3.7 million) of investable assets with the bank.

BURMA

CAMBODIA

$869,572

Outward Direct Investment

BRUNEI

TRADE & PROJECT FINANCING

Sources and Destination of FDI

Total Inward

INDONESIA

SINGAPORE

SINGAPORE

INVESTMENT CLIMATE STATEMENT


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

Export-Import Bank of the United States http://www.exim.gov Country Limitation Schedule http://www.exim.gov/tools-for-exporters/ country-limitation-schedule OPIC https://www.opic.gov/ Trade and Development Agency https://www.ustda.gov/

THAILAND

THAILAND

Trade Finance Guide: A Quick Reference for U.S. Exporters, published by the International Trade Administration’s Industry and Analysis team https://www.export.gov/tradefinanceguide

PHILIPPINES

SBA’s Office of International Trade http://www.sba.gov/oit/

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U.S. Agency for International Development https://www.usaid.gov/

MALAYSIA

PROJECT FINANCING Singapore is considered a developed country and does not receive development assistance from multilateral institutions. U.S. government agencies such as the ExportImport Bank of the United States and the U.S. Department of Agriculture, Overseas Private Investment Corporation (OPIC), as well as state and local bodies (e.g., Small Business Administration) offer a variety of programs to assist exporters with their financing and insurance needs. Ex-Im Bank

FINANCING WEB RESOURCES

structure-and-organization/commodity-creditcorporation/index

LAOS

As of March 27, 2017, there were 29 foreign full service licensees, 57 wholesale licensees, and 37 offshore licensees operating in Singapore. Of the 29 foreign full service licensees, the government has granted “qualifying full bank” (QFB) licenses to various foreign banks such as ANZ, Bank of America, Bank of China, BNP Paribas, Citibank, HSBC, ICICI, Industrial and Commercial Bank of China, JPMorgan Chase Bank, Maybank, Standard Chartered and State Bank of India who can operate up to 25 locations in country. Except in retail banking, Singapore laws do not distinguish operationally between foreign and domestic banks.   The MAS maintains a full directory of local and foreign banks and financial institutions (including U.S.-headquartered entities) that operate in Singapore. Access to this directory is free and is available at the following website: https://masnetsvc.mas.gov.sg/FID. html.

USDA Commodity Credit Corporation https://www.fsa.usda.gov/about-fsa/

INDONESIA

Singapore has no significant restrictions on remittances, foreign exchange transactions and capital movements. It also does not restrict reinvestment or repatriation of earnings and capital. In addition, The

US BANKS AND LOCAL CORRESPONDENT BANKS

provides a variety of financing mechanisms, including working capital guarantees, export-credit insurance and financing to help foreign buyers purchase U.S. goods and services. One example is the Medium Term Delegated Authority (MTDA) lender scheme underwritten by Ex-Im Bank. The MTDA program offers exporters quick access to buyer financing from a network of lenders who have authority to write loans that will be guaranteed by the Bank. Firms seeking such assistance should contact their nearest Export Assistance Center http://2016.export. gov/usoffices/index.asp

CAMBODIA

FOREIGN EXCHANGE CONTROLS

U.S.-Singapore FTA underpins the shared commitment of the United States and Singapore to the free transfer of capital, unimpeded by regulatory restrictions.

BURMA

  For deposits in excess of the payout, individual depositors can also claim from assets of the failed bank. Depositors and policyholders, in the case of an insurance company, would rank ahead of unsecured creditors and shareholders in their claims. The MAS, together with the Singapore Deposit Insurance Corporation (SDIC) that administers the deposit insurance program, will review the coverage limit regularly, taking into consideration the objectives of the program and international norms.   The MAS is known and respected as an effective regulator/supervisor of the financial services sector. The MAS will require Singapore-incorporated banks to meet a minimum Common Equity Tier 1 (“CET1”) capital adequacy ratio (“CAR”) of 6.5%, Tier 1 CAR of 8% and Total CAR of 10% from 1 January 2015. These standards http://www. mas.gov.sg/news-and-publications/mediareleases/2011/mas-strengthens-capitalrequirements-for-singapore-incorporatedbanks.aspx are higher than the Basel III minimum requirements of 4.5%, 6% and 8% for CET1 CAR, Tier 1 CAR and Total CAR, respectively. Financial statements are in compliance with international standards and internationally recognized accounting firms perform audits. In December 2016, total combined assets/liabilities of Singapore’s domestic banking sector amounted to US$638 billion, which is an 8.3% increase from the previous year.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

TRADE & PROJECT FINANCING

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THAILAND

ESTA https://esta.cbp.dhs.gov/esta/

PHILIPPINES

SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

Singaporeans are now eligible to participate in the U.S. Global Entry Program, expediting

U.S. Embassy Singapore http://singapore.usembassy.gov/ visas.html

MALAYSIA

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VISA REQUIREMENTS U.S. citizens do not need a visa if their visit to

State Department Visa Website https://travel.state.gov/content/visas/en.html

LAOS

TRAVEL ADVISORY Americans traveling abroad should regularly monitor the Department of State, Bureau of Consular Affairs’ web site at http://travel. state.gov, where current Travel Warnings and Travel Alerts, as well as Worldwide Caution alerts, can be found.   While in a foreign country, a U.S. citizen is subject to that country’s laws and regulations, which sometimes differ significantly from those in the U.S. and may not afford the protections available to the individual under U.S. law. Penalties for breaking the law can be more severe than those in the U.S. for similar offenses. Persons violating Singapore laws, even unknowingly, may be expelled, arrested or imprisoned.   There are strict penalties for possession and use of drugs as well as for trafficking in illegal drugs. Visitors should be aware of

INDONESIA

frequent. Temperatures at night average between 76 and 80 degrees. All public buildings, indoor restaurants and taxis are air-conditioned.   Summer-weight suits/dresses, several dressshirts, and an umbrella are recommended for the traveler. Singapore business dress is a long-sleeved shirt and tie for men, although one will not be out of place without a tie. Some formal meetings call for a coat and tie. Businesswomen wear light-weight attire. Evening/dinner-dress is a shirt and tie for men but there isn’t a strict dress code for women.   Tipping is not customary in Singapore. Restaurants automatically add a 10% service charge and a 7% goods and services tax (GST) to the bill.

Singapore is for business or social purposes and their stay is for 90 days or less. Travelers to the region should note that Singapore and some neighboring countries do not allow Americans to enter under any circumstances with fewer than six months of validity remaining on their passport. Travelers should note that there are also very strict penalties for overstaying their visas.   Specific information about entry requirements for Singapore may be obtained from the Embassy of the Republic of Singapore http://www.mfa.gov.sg/washington.   U.S. companies should note that Singapore is part of the Visa Waiver Program and that eligible nationals of Singapore are able to travel to the United States without a visa for tourist and business travel of 90 days or less provided they possess an e-passport and an approved authorization through the Electronic System for Travel Authorization (ESTA). Third country nationals living and working in Singapore may have to obtain a visa before visiting the United States. U.S. companies that require travel of foreign businesspersons to the United States should be advised that security evaluations are handled via an interagency process. Visa applicants should go to the following links:

CAMBODIA

PHILIPPINES

BUSINESS CUSTOMS Business discussions are usually conducted in a very straight forward manner. English is widely spoken and most businesspeople are skilled and technically knowledgeable. Furthermore, most agents and distributors have visited the United States and often handle several American product lines. Corruption is virtually non-existent.   Many Singapore business people are of ethnic Chinese background, and many of them will have “Western” first names (e.g., Melody Yeo). Those with only a Chinese name presented on business cards will list his/her family name before their first name. For example, a person whose card reads “Mr. Chan Yiu Kei” would be addressed as “Mr. Chan.”   The names of business people of Malay or Indian descent are written and spoken as given name followed by family name. For the sake of politeness and respect, it is wise to address a businessperson by the last name rather than the first name until invited to use a given name. When in doubt it is not impolite to ask. The common and polite Singaporean phrase is ‘How shall I address you?’   Business cards are a must as they are immediately exchanged during business and social meetings. The East Asian practice of presenting a business card with both hands is observed. There is no need to have special business cards printed in Chinese.   Located one degree from the Equator, Singapore has a constant tropical climate year-round. Daytime temperatures average between 85 and 90 degrees Fahrenheit. Humidity is very high and rain showers are

Singapore’s strict laws and penalties for a variety of actions that might not be illegal or might be considered minor offenses in the U.S. Commercial disputes that may be handled as civil suits in the U.S. can escalate to criminal cases in Singapore and may result in heavy fines and prison sentences.   Singapore customs authorities enforce strict regulations concerning temporary import and export of items such as weapons, illegal drugs, certain religious materials and pornographic material. Singapore customs authorities’ definition of “weapon” is very broad, and, in addition to firearms, includes many items which are not necessarily seen as weapons in the United States, such as dive knives, kitchen knives, handcuffs and expended shell casings. Carrying any of these items without permission may result in immediate arrest. All baggage is x-rayed at every port of entry, so checked baggage will also be inspected for regulated items.   Generally, there are four types of dutiable goods in Singapore: alcoholic beverages, tobacco, gasoline and motor vehicles. Travelers entering Singapore at any port of entry must approach an Immigration and Checkpoints Authority (ICA) officer at the “Red Channel” for payment of duty (e.g. alcohol and tobacco) and goods and services tax (GST) if you have dutiable goods which exceed the GST relief or duty-free concession. It is an offence to proceed to the “Green Channel” for clearance if you have items that are subject to payment of duty and/or GST.   The State Department Consular Information Sheet on Singapore can be found at: https://travel.state.gov/content/ passports/en/country/singapore.html

BURMA

THAILAND

BUSINESS TRAVEL  

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

BUSINESS TRAVEL


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA

TRANSPORTATION

imposes a surcharge on vehicles entering the Central Business District during peak hours. In addition, an exceptionally clean, efficient subway system links the major business/ shopping areas.

LANGUAGE English is widely spoken in Singapore. It is the language of business, government, education and the media. Many business people are highly educated and have traveled extensively.

PHILIPPINES

HEALTH

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VIETNAM

Good medical care is widely available in Singapore and high-end medical tourism is a growing business. Doctors and hospitals expect immediate payment for health services by credit card or cash and generally do not accept U.S. health insurance. Recipients of

THAILAND

Situated at the crossroads of international shipping and air routes, Singapore is a center for transportation and communication in Southeast Asia. With more than 100 airlines serving some 380 cities, Singapore’s Changi Airport has established itself as a major aviation hub in the Asia Pacific region. Singapore is the busiest port in the world in terms of shipping tonnage, with more than 130,000 vessel calls annually. The country is linked by road and rail to Malaysia.  Taxis are abundant, metered, safe, inexpensive, air-conditioned, and most drivers speak English. Drivers should be given place names for the destination as these are often more familiar than street names. In order to promote the flow of traffic, the Government limits the total number of cars on the road through heavy fees/taxes and

MALAYSIA

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Image courtesy of the Singapore Tourism Board

LAOS

Telecommunications and Internet facilities in Singapore are state-of-the-art, providing high-quality communications with the rest of the world. Mobile phone users can access third generation (3G) and 4G or Long Term Evolution (LTE) networks and services in Singapore, with theoretical speeds of up to 450 Megabits per second (Mbps). Internet connections are widely available in hotels.   There are three main mobile telephony providers (and 17 mobile virtual network operators or MVNOs) and 82 Internet Services Providers in Singapore. The mobile penetration rate is close to 149.8% in December 2016. Household broadband penetration is at 97.5% as of December 2016.   Singapore’s island-wide free Wi-Fi service offers additional connectivity options.

INDONESIA

TELECOMMUNICATIONS/ ELECTRIC

CAMBODIA

PHILIPPINES

CURRENCY Singapore’s unit of currency is the Singapore dollar. Travelers’ checks and currency may be exchanged in the baggage claim area at Changi Airport (at a reasonable rate) or at any hotel (at a less favorable rate). Singapore features dozens of Government-authorized “money changers” located in major shopping centers, offering competitive rates and they will usually accept U.S. travelers’ checks as well as major currencies. International credit cards are widely accepted in hotels, restaurants and retail shops. ATMs that accept U.S. cards are widely available.

Dubbed Wireless@SG, it offers access speeds of 5Mbps at over 10,000 Wi-Fi hot spots in public places such as shopping malls, town centers, business district and public transport hubs. All visitors can log on via a web-portal using a one-time password (OTP) sent via SMS to their foreign mobile number. Alternatively, visitors with a Singapore prepaid SIM card from M1, Singtel and StarHub can choose to download the Wireless@SG App (available for Android and iOS users), which will enable their smartphones to automatically log in to all Wireless@SG hotspots after a one-time setup.   All homes and offices now have access to the new, ultra high-speed, all-fiber Nationwide Broadband Network (NBN). Offering pervasive, competitively priced broadband speeds, the NBN enables users to enjoy a richer broadband experience with higher access speeds at prices comparable to ADSL and cable services. All residential households and enterprises, also benefit from the ease of access to ultra high-speed broadband of up to 10Gbps, and are able to use IT more extensively to boost productivity and competitiveness.   Besides a nationwide broadband network infrastructure, Singapore is well connected by multiple satellite and submarine cable systems with more than 498 terabits per second (Tbps) of potential capacity supporting international and regional telecoms connectivity. It has more than 10.5 terabits per second (Tbps) of international internet bandwidth connectivity to economies such as the U.S., China, Japan, India, as well as some countries in Europe and ASEAN.   The standard electrical current used in Singapore is 220-240 volts AC (50 cycles) and you can use power plugs with three square prongs here.

BURMA

THAILAND

the customs process upon arrival in the U.S. Information on this program and how to participate can be found at: https://www. cbp.gov/travel/trusted-traveler-programs/ global-entry/international-arrangements/ singapore/global-entry-singapore-citizens

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

BUSINESS TRAVEL


SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

Date Observed

January 1

New Year's Day

New Year's Day

Sunday, January 1 Monday, January 2

3rd Mon in January

Birthday of Martin Luther King, Jr.

January 28-29 3rd Mon in February

Monday, January 16

Chinese New Year President’s Day

April 14

Monday, February 20 Good Friday

Friday, April 14

May 1

Labor Day

Monday, May 1

May 10

Vesak Day

Wednesday, May 10

Hari Raya Puasa

Sunday, June 25 Monday, June 26

Vesak Day

Wednesday, May 10

Last Monday in May

Memorial Day

June 25 Monday, June 26 Last Monday in May

Memorial Day

June 25 July 4

Monday, May 29

Monday, May 29 Hari Raya Puasa

Independence Day

Sunday, June 25 Tuesday, July 4

August 9

National Day

Wednesday, August 9

September 1

Hari Raya Haji

Friday, September 1

1st Mon in September

Labor Day

Monday, September 4

2nd Mon in October

Columbus Day

Monday, October 9

October 18 November 11

Deepavali

Wednesday, October 18

Veteran’s Day

Friday, November 10

4th Thu in November

Thanksgiving

Thursday, November 23

December 25

Christmas

Christmas

Monday, December 25

THAILAND

The Singapore Ministry of Health’s web site, http://www.moh.gov.sg contains helpful health information.

LOCAL TIME, BUSINESS HOURS AND HOLIDAYS

VIETNAM

Singapore is twelve hours ahead of Eastern Daylight Savings or thirteen hours ahead

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Saturday, January 28 Sunday, January 29 Monday, January 30

PHILIPPINES

THAILAND

Singapore Holiday

MALAYSIA

The World Health Organization also provides additional health information at http://www. who.int/ith

U.S. Holiday

LAOS

For information about outbreaks of infectious diseases abroad consult the World Health Organization’s website at http://www.who. int/en

Official Date

INDONESIA

OTHER HEALTH INFORMATION: Information on vaccinations and other health precautions may be obtained from the Centers for Disease Control and Prevention’s automated information line for international travelers at 877-FYI-TRIP (877-394-8747) or via http:// wwwnc.cdc.gov/travel

2017

CAMBODIA

MEDICAL INSURANCE: The Department of State strongly urges Americans to consult with their medical insurance company prior to traveling abroad to confirm whether their policy applies overseas and whether it will cover emergency expenses such as a medical evacuation.

of Eastern Standard Time. Normal business hours are 8:30 a.m. - 5:00 p.m., MondayFriday. Government of Singapore agencies and many private sector companies are closed for business on Saturday. Shops are normally open every day from 10:00 am – 9:00 p.m.  U.S. Embassy Singapore closes on American and local holidays. The dates on which holidays are observed in 2017 and 2018 are listed below:

BURMA

health care should be aware that the Ministry of Health auditors in certain circumstances may be granted access to patient medical records without the consent of the patient, and in certain circumstances, physicians may be required to provide information relating to the diagnosis or treatment without the patient’s consent.

BRUNEI

VIETNAM

SINGAPORE

SINGAPORE

BUSINESS TRAVEL

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SINGAPORE

2018 Official Date

U.S. Holiday

Singapore Holiday

Date Observed

January 1

New Year's Day

New Year's Day

Monday, January 1

3rd Mon in January

Birthday of Martin Luther King, Jr.

Monday, January 15

CAMBODIA

Monday, February 19

March 30

Good Friday

Friday, March 30

May 1

Labor Day

Tuesday, May 1

Last Monday in May

Memorial Day

May 29

Vesak Day

Tuesday, May 29

June 15

Hari Raya Puasa

Friday, June 15

July 4

Independence Day National Day

Thursday, August 9

August 22

Hari Raya Haji

Wednesday, August 22

1st Mon in September

Labor Day

Monday, September 3

2nd Mon in October

Columbus Day

Monday, October 8

November 6

Deepavali Columbus Day

Monday, October 8 Deepavali

Tuesday, November 6

November 11

Veteran’s Day

Sunday, November 11* Monday, November 12

4th Thu in November

Thanksgiving

Thursday, November 22

December 25

Christmas

Christmas

Tuesday, December 25

VIETNAM

»»TRAVEL RELATED WEB RESOURCES

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http://travel.state.gov https://travel.state.gov/content/passports/ en/go/checklist.html http://travel.state.gov/content/passports/ english/country/singapore.html http://www.mfa.gov.sg/washington

VIETNAM

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Goods may be temporarily imported under the Temporary Import Scheme for a period of six months and for purposes such as repairs, testing and stage performances, auctions, displays, exhibitions or other similar events without the payment of duty and/or GST. A banker’s guarantee is required under the Temporary Import Scheme. The temporary

THAILAND

THAILAND

** Since Friday is also a local holiday, U.S. Embassy Singapore will observe the local holiday the preceding Thursday.

TEMPORARY ENTRY OF MATERIALS OR PERSONAL BELONGINGS

PHILIPPINES

Note: * U.S. Embassy Singapore will observe local and American holidays that fall on a Saturday the preceding Friday and local and American holidays that fall on a Sunday the following Monday.

Image courtesy of the Singapore Tourism Board

MALAYSIA

MALAYSIA

November 6

PHILIPPINES

Tuesday, November 6

LAOS

A foreign exhibitor may import exhibition goods into Singapore using an ATA carnet. When the exhibitor arrives in Singapore, the carnet must be produced together with the goods to Customs at the entry point for verification and endorsement. When goods covered by a carnet are taken out of Singapore, the foreign exhibitor must produce the carnet together with the goods to Customs at the exit point for verification and endorsement. GST will be recovered from the carnet holder on any item that is unaccounted for. For more information on Temporary Importation for Exhibition, Auction and Fairs or Temporary Import Scheme, please contact the following or visit http://www.customs.gov.sg/businesses/ impowrting-goods/temporary-importscheme

Wednesday, July 4

August 9

2nd Mon in October

»»ADMISSION TEMPORAIRE TEMPORARY ADMISSION (ATA) CARNET

Monday, May 28

INDONESIA

INDONESIA

President’s Day

Thursday, February 15** Friday, February 16* Saturday, February 17

CAMBODIA

LAOS

Chinese New Year

BURMA

BURMA

February 16-17 3rd Mon in February

imports are covered by a Customs Inward Permit or a Carnet. Goods temporarily imported must be re-exported within the prescribed period using a Customs Outward permit. GST has to be paid if the goods are not subsequently re-exported. The procedures governing such importation can be found at http://www.customs.gov.sg/ businesses/importing-goods/temporaryimport-scheme

BRUNEI

BRUNEI

SINGAPORE

SINGAPORE

BUSINESS TRAVEL


BURMA

SINGAPORE BRUNEI BURMA

http://travel.state.gov/content/visas/en.html http://singapore.usembassy.gov/visas.html https://esta.cbp.dhs.gov http://www.changiairportgroup.com/cag/ html/the-group/air_traffic_statistics.html h t t p : / / w w w. m p a . g ov. s g / s i t e s / g l o b a l _ navigation/publications/port_statistics/port_ statistics.page http://travel.state.gov/content/passports/ english/go/health/insurance-providers.html http://wwwnc.cdc.gov/travel http://www.who.int/en http://www.who.int/ith http://www.moh.gov.sg http://www.customs.gov.sg/businesses/ importing-goods/temporary-import-scheme

BRUNEI CAMBODIA INDONESIA

INDONESIA

CAMBODIA

SINGAPORE

SINGAPORE

BUSINESS TRAVEL

LAOS

LAOS

MALAYSIA

MALAYSIA

PHILIPPINES

PHILIPPINES

THAILAND

THAILAND

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VIETNAM

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SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES THAILAND

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MALAYSIA

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MARKET CHALLENGES With a population of approximately 417,200 in 2015, Brunei’s local market is relatively small. Foreign enterprises are allowed 100%

INDONESIA

Brunei Darussalam is a Southeast Asian, oil-rich Sultanate on the northern coast of Borneo. A British protectorate until 1984, it boasts a well-educated and largely Englishspeaking population, excellent infrastructure, and a government intent on diversifying the economy and bringing foreign investment into the country.   Despite repeated calls for diversification, Brunei’s economy remains overwhelmingly dependent on the income derived from the sale of oil and gas, which represents 90% of Brunei’s total exports (Department of Economic Planning and Development, December 2016). Additionally, substantial revenue from overseas investments supplements income from domestic hydrocarbon production. These two revenue streams provide a comfortable quality of

life for Brunei’s population. Citizens pay no taxes and receive free education through to the university level, free medical care, and subsidized housing.   Brunei’s central location in Southeast Asia, with good telecommunications and airline connections; no personal income, sales or export taxes; and its stable political situation, offer a welcoming climate for would-be investors. Brunei encourages foreign direct investment (FDI) in its domestic economy through various investment incentives offered by the Energy and Industry Department and the Prime Minister’s Office, as well as through activities conducted by the Ministry of Foreign Affairs and Trade and the Brunei Economic Development Board (BEDB). Additionally, a low crime rate, good schools, housing and sports facilities as well as low utility costs make Brunei an attractive

CAMBODIA

MARKET OVERVIEW

MARKET OPPORTUNITIES Brunei has an open economy favorable to foreign trade and FDI as it continues to diversify its economic away from its long reliance on oil and gas exports. Investment opportunities in Brunei are driven both by government planning and consumer demand.   FDI is important to Brunei as it plays a key role in economic and technological development. Brunei encourages FDI in the domestic economy through various investment incentives offered by the Energy and Industry Department (Prime Minister’s Office) and through activities conducted by the Ministry of Foreign and Trade and the BEDB.   Formed in 2001, the BEDB promotes Brunei as an investment destination to move its economy away from oil and gas revenue. BEDB is mandated to work with foreign and domestic investors to develop new economic opportunities where Brunei has competitive advantages, focusing on four key growth areas: attracting investments, strengthening local businesses, increasing Research and Development (R&D) and innovation, and delivering infrastructure projects.   BEDB has identified several industries as potential investment sectors in its efforts to diversify the economy, including life

BURMA

BRUNEI

ownership of business scope, operation, and investment. As such, foreign investors are not required to find a local partner to enter the market. However, in certain cases, foreign companies may be required to find a local partner to qualify for certain government and Brunei Shell Petroleum projects. U.S. businesses/investors should expect delays— sometimes long ones—when dealing with the local government.

BRUNEI

DOING BUSINESS IN

location for short and long-term residence. Life in Brunei reflects the national philosophy of the Malay Islamic Monarchy (MIB in Malay).   Brunei has no debt, domestic or foreign, and has not been the recipient of economic aid. Despite importing most consumer goods and food, Brunei’s large oil exports keep its trade balance positive. The Brunei dollar is pegged to the Singapore dollar at a one-toone ratio, and the Singapore dollar is legal tender in the Sultanate.   The five largest destinations for Brunei exports (mostly mineral fuels) as of December 2016 were Japan (36%), Republic of Korea (16%), India (9%), Thailand (8%), and Taiwan (7%). The five largest sources of imports to Brunei were from Malaysia (21%), Singapore (14%), China (10%), the United States (10%), and the Republic of Korea (9%). The largest export sectors by market value were mineral fuels, chemicals, and machinery and transport equipment. The largest import sectors by market value were machinery and transport equipment, manufactured goods, and food.   In 2016, the total (two way) trade between United States and Brunei was US $628 million. The 2016 U.S. trade surplus with Brunei was US $601 million: exports totaled US $614 million while imports totaled US $13 million. Brunei is a founding member of the Trans-Pacific Partnership (TPP) trade agreement that concluded negotiations in October 2015.   More information on U.S.-Brunei trade figures can be found at the U.S. Census website.

SINGAPORE

BRUNEI


SINGAPORE BRUNEI BURMA

• Major distribution and logistics hub and gateway to the ASEAN region • Oil and Gas Extraction

• Construction

• Medical Equipment

• Major distribution and logistics hub and gateway to the ASEAN region

THAILAND

2009 1.513 2010 1.418 2011 1.308 2012 1.300 2013 1.302 2014 1.318 2015 1.430 2016 1.380

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VIETNAM

The source of the rates above is: the Internal Revenue Service.

THAILAND

VIETNAM

• Fishing Industry/Aquaculture

» BILATERAL ECONOMIC RELATIONS The key to economic relations with Brunei is the Trans-Pacific Partnership trade agreement (TPP), which was signed in October 2015 by the United States, Brunei, and 10 other countries. Brunei is proud of its distinction as a member of the P-4, or the four founding members of the TPP. Brunei encourages foreign investment in the domestic economy through various incentives, marketing the country as an opportunity for investors in new industries and economic activities, although oil and gas and government spending still account for most of Brunei’s economic activity. Brunei’s non-petroleum industries include manufacturing, construction, agriculture, forestry, fishing, and services. U.S. firms are working in the energy sector, in financial services, and

PHILIPPINES

PHILIPPINES

• Food Imports/Food Production

» U.S. ASSISTANCE TO BRUNEI The United States provides no foreign assistance to Brunei.

MALAYSIA

MALAYSIA

In the agricultural sector, the following investment opportunities may offer lucrative investment opportunities:

the bilateral defense relationship. Bruneian military personnel have attended U.S. military academies and in 2014 the first U.S. military student attended the Brunei Command and Staff Course. The United States and Brunei have also partnered to provide English language instruction in ASEAN countries, promote entrepreneurship, and expand educational opportunities and people-topeople connections. The United States and Brunei share a commitment to protecting the environment and in 2013 Brunei became the first nation in the world to ban all trade relating to sharks.

LAOS

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• Food and Beverage Franchises

» U.S.-BRUNEI RELATIONS Brunei Darussalam is a Malay Muslim Monarchy located at the heart of Southeast Asia, the focus of the U.S. rebalance to the Asia-Pacific. Although the United States and Brunei concluded their Treaty of Peace, Friendship, Commerce and Navigation in 1850, which is still in effect, the current era of U.S.-Brunei relations began in 1984 when Brunei became fully independent from the United Kingdom and the United States and Brunei established diplomatic relations. A memorandum of understanding on defense cooperation was signed in 1994. In 2011, Brunei and the United States held an inaugural Senior Officials Dialogue, creating a new forum for high-level coordination and communication. The most recent iteration of this dialogue was a High-level Officials Meeting in London in November 2015 which covered issues including trade, security, human rights, defense, regional cooperation, and academic exchanges.   The two countries work closely together on a bilateral and regional agenda to tackle some of the most pressing issues. The contemporary U.S.-Brunei relationship enters its fourth decade in a position of strength, based on the unprecedentedly intensive and productive bilateral engagement in 2013, when Brunei provided solid leadership for the Association of Southeast Asian Nations (ASEAN) as the 2013 ASEAN Chair. Brunei’s armed forces engage in joint exercises, training programs, and other military cooperation with the United States, with the annual Cooperation Afloat Readiness and Training (CARAT) exercise at the core of

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• Defense Equipment

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• Commercial Aviation

MARKET ENTRY STRATEGY Brunei’s population—largely clustered around the capital Bandar Seri Begawan, with other population centers connected by a well-maintained highway system—provides a ready destination for U.S. exports with low transit costs once goods arrive in country. The relatively small population of Brunei is an asset in that products exported there, once established, may gain national prominence relatively quickly.   Market access and promotion strategies typically focused on cities may be applied with modification to enter the Brunei market. Firms that are able to export goods and services that will serve to increase the capacity of Bruneian enterprise and increase Bruneian employment will be particularly welcomed.   U.S. businesses should build personal relationships with local representatives and customers through regular visits or by establishing resident representation. U.S. companies can set up their subsidiary companies or branch offices in Brunei as private limited companies registered with the Registrar of Companies and Business Names.   Please note that throughout this report, except where otherwise noted, the following Brunei dollar/U.S. dollar exchange rates were used:

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sciences, agri-business, information and communications technology (ICT), and services. Further information on BEDB is available at BEDB’s website. The most attractive commercial sectors include:

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Brunei gives its ASEAN membership the highest priority in its foreign relations. Brunei and the United States belong to a number of the same international organizations and forums including the United Nations, the International Monetary Fund, the World Bank, the World Trade Organization, the East Asia Summit, the ASEAN Regional Forum, and the Asia-Pacific Economic Cooperation forum.

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  Aung San Suu Kyi spoke to foreign diplomatic corps in April 2016 where she told diplomats that they could use either name to refer to the country, as the constitution does not mandate either name. However, she said the goverment will continue to use Myanmar and that name continues on all their official letters and documentation.  Since 2011, the Government of Myanmar has adopted, among other changes, budgetary and tax reforms, and financial sector regulatory changes with limited liberalization of trade and investment in order to integrate the country into the international economy. There are five main reasons why American companies should consider

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Myanmar is an exciting emerging market located in a critical and rapidly changing part of the world. The National League for Democracy (NLD)’s landslide victory in November 2015 election was a major step forward for Myanmar’s political and economic future.   As a recently opened market, there are opportunities in various sectors. At the same time, the market currently presents multiple and complex challenges for U.S. companies. With the opening of the Commercial Service office in Yangon in August of 2014, there is a team on the ground that can help companies understand the market and succeed.

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» BILATERAL REPRESENTATION The U.S. Ambassador to Brunei is Craig Allen; other principal embassy officials are listed in the Department’s Key Officers List http://www.state.gov/documents/ organization/111812.pdf Brunei maintains an embassy http://www. bruneiembassy.org/ in the United States at 3520 International Court, NW, Washington, DC 20008; tel. 202-237-1838. You can learn more from the Embassy webpage at http://brunei.usembassy.gov/ or by following the Embassy on social media including Facebook, Instagram, or Twitter (USEmbassyBSB).

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» BRUNEI’S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

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consulting for government projects, and U.S. franchises and brands are opening and thriving in Brunei. U.S. exports to Brunei are on an upward trajectory, particularly in civil and defense-related avionics. Aircraft that Brunei has procured from the United States in recent years include Sikorsky Black Hawk S70i helicopters and Boeing 787 Dreamliners.

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» RIGHT TIME, RIGHT PLACE

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An evolving economic policy

• Limited supply of electricity, outside major urban areas • Moving money in and out of the country continues to be a challenge given U.S. banks reluctance to enter the market. • Poor infrastructure including communications and transportation network • There is no standard law on PPP (publicprivate partnership) between a public sector regulator and a private party, in which the private party provides a public service or project, and assumes substantial financial, technical and operational risk • Weak intellectual property laws with limited implementation. The government is currently reviewing new intellectual property legislation

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• A weak educational system and unskilled work force

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Given Myanmar’s five decades of isolation, there is a need for a wide array of product

As a newly opened economy, Myanmar faces several market challenges and obstacles. For example, obtaining accurate and relevant market and financial data is onerous. Demand for well-educated and trained workers outstrips supply. Government staff can be overwhelmed due to the spike in interest from foreign governments, NGOs, and multinational businesses. Real-estate prices in Yangon have tripled, and infrastructure remains a barrier for growth. Forty percent of the road network is paved and 20 million people, half of the rural population, do not have access to all-weather roads. US$120 billion will be needed by 2030 to build road, rail, bridges, airports and more, according to the Asian Development Bank. About 77 percent of the population has no access to financial services, according to consultancy

• A small and inexperienced financial sector and shallow domestic capital market

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» GREAT INTEREST IN PARTNERING WITH AMERICAN COMPANIES

MARKET CHALLENGES

• A legal and regulatory system that relies on practices and government discretion rather than written laws

MARKET OPPORTUNITIES With the lifting of U.S. sanctions and reinstatement of trade preference benefits, U.S. - Myanmar commercial relations will continue to grow.   As one of the least developed countries in Asia, Myanmar has market opportunities in nearly every sector, including infrastructure, transportation, telecommunications, tourism, hotels, agriculture, energy, healthcare, professional services, and franchising. Specifically, U.S. firms specializing in construction equipment, resource extraction, refining facilities, power generation, renewable energy, processed foods, auto parts, chemicals, computers, textiles, fertilizer, animal feed, and medical equipment will find export potential in Myanmar.   According to Boston Consulting Group, 10 million Burmese will achieve middle class status by 2020. The immediate consumer market for U.S. products is still somewhat limited due to higher price points. As incomes rise, demand for U.S. consumer goods is expected to grow in step. Most optimistic estimates project a quadrupling of Myanmar’s GDP by 2030 during which the urban population is expected to double. Such dramatic growth is far from assured and assumes significant investment in upgrading the country’s infrastructure. In the long term, domestic consumption in Myanmar will provide important business opportunities for U.S. firms.

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Economic growth in Myanmar is expected to be 6.5 percent in 2016-2017 according to the World Bank. The pace of recovery in agriculture from the floods of 2015 was hampered by longstanding productivity constraints in the sector. However, mediumterm growth is currently projected to average 7.1 percent per year. Investment is an important factor to sustain economic growth. Thus, Myanmar has encouraged domestic and foreign investors to invest in various economic sectors through selective liberalization and incentives. Further details on the investment climate can be found in the ‘Investment Climate Statement’ section.

Market challenges that Myanmar has begun to address, but needs to show further progress on, include:

• Weak rule of law and property rights; the judiciary is not independent and lacks experience with commercial litigation and arbitration

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» GROWING ECONOMY MEANS MORE OPPORTUNITY FOR U.S. PRODUCTS

» FAST-MOVER ADVANTAGE Myanmar’s market presents U.S. companies with unique opportunities and potentially significant gains, but requires patience and persistence. Local knowledge gained by early movers could prove to be an invaluable competitive advantage. As the saying goes if you wait for a perfect market, you will also face perfect competition.

Roland Berger. A large part of Myanmar’s foreign investment is concentrated in the oil, gas, power, and telecom sectors, according to an analysis by the World Bank, with manufacturing accounting for less than 10 percent of the GDP.

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With a rich natural resources base, an estimated population of 51 million, a young labor force and prime geographic location – between India and China, and linked with the countries that make up the Association of South East Asian Nations (ASEAN) – Myanmar is the subject of great interest from the international business community. The enactment of a new Foreign Investment Law along with other economic reforms, the termination of U.S. economic sanctions, along with the previous lifting of EU and Australian sanctions (except for a ban on the sale of non-civil use military goods and services), have encouraged foreign companies to view Myanmar as a potential market.

and services across multiple sectors. U.S. products and services are viewed favorably by Burmese society and businesses large and small. In fact the Commercial Service office is approached on a regular basis by local companies actively seeking U.S. suppliers. Viable projects While there is a large amount of multilateral development underway, there is a growing number of privately financed projects that are seeking American inputs.

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exporting to Myanmar.

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The United States supports a peaceful, prosperous, and democratic Burma that respects the human rights of all its people. Elections in November 2010 led to a peaceful transition from sixty years of military rule to a quasi-civilian government headed by former President Thein Sein. Under former President Thein Sein, the previous Government of Burma initiated a series of political and economic reforms which resulted in a substantial opening of the long-isolated country. These reforms include the release of many political prisoners and child soldiers, the signing of a cease-fire agreement with eight major non-state ethnic groups, greater enjoyment of freedom of expression, including by the press, and parliamentary by-elections in 2012 in which pro-democracy leader Aung San Suu Kyi and her opposition party, the National League for Democracy (NLD), won 43 of the 45 contested seats. In historic elections in November 2015, the NLD won a majority of the total seats in the national parliament and in most state and regional parliaments. Despite some structural problems, including the reservation of 25 percent of parliamentary seats for the military; the disfranchisement of groups of people who voted in previous elections, including the Rohingya; and the disqualification of candidates based on arbitrary application of citizenship and residency requirements, this election represented an incredible step forward in Burma’s democratic transition. The new national parliament sat February 1, 2016, and National League for Democracy member Htin Kyaw was inaugurated as

president on March 30, 2016. President Htin Kyaw’s inauguration, and the formation of a democratically elected, civilian-led government were momentous steps for Burma’s democratic transition. In two of its first major initiatives, the new government released two waves of political prisoners, including five well-known journalists and 69 student activists held on politically motivated charges, though others remain in jail. These actions demonstrated the new government’s ability to realize its commitment to human rights issues.   The United States has employed a calibrated engagement strategy to recognize the positive steps undertaken to date and to incentivize further reform. The guiding principles of this approach have been to support Burma’s political and economic reforms; promote national reconciliation; build government transparency, and accountability and institutions; empower local communities and civil society; promote responsible international engagement; and strengthen respect for and protection of human rights and religious freedom.   As part of our calibrated approach to support further reform, the United States has restored full diplomatic relations, reestablished a U.S. Agency for International Development (USAID) Mission in country, supported new grant and lending operations and technical assistance by international financial institutions, and eased economic and investment sanctions against Burma. Senior U.S. government officials have traveled to the country to meet with the Government of Burma, political parties, civil

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MARKET ENTRY STRATEGY U.S. business should consult with U.S. Commercial Service office at the Embassy or reputable business consultants and lawyers to determine the most appropriate entry strategy for Myanmar. The Commercial Service in Yangon provides a series of solutions to business needs including: Initial Market Check (IMC), Gold Key Match-Making Service (GKS), Single Company Promotion (SCP), Business Facilitation Service (BFS), International Buyers Program (IBP), and Advocacy Services to assist U.S. firms. Also, a local partner is highly recommended. Despite the passage of a new Foreign Investment Law as well as other economic reforms, entering the Myanmar market is complex and requires local experience.

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Burma became a member of the United Nations in 1948 following independence from the United Kingdom, and a member of the Association of Southeast Asian Nations (ASEAN) in 1997. Burma was the chair of ASEAN for 2014, its first chairmanship in 17 years as an ASEAN member state.   Burma and the United States belong to a number of the same international organizations, including the UN, International

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In recognition of Burma’s political and economic reform progress, the United States has taken concrete steps to accelerate broad-based economic growth and support the political reform process. The United States played an instrumental

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role in supporting renewed engagement from multilateral development banks, which re-started operations in 2013. Over the past three years, U.S. development partners at the World Bank and Asian Development Bank have committed more than $3.8 billion to critical needs in Burma’s infrastructure and human services. On October 7, 2016, the national emergency with respect to Burma, which has been in place since 1997, was terminated. The termination removed a range of economic and financial sanctions, including the designations of individuals and entities listed on the Office of Foreign Assets List pursuant to U.S. sanctions on Burma.   The U.S. government encourages responsible investment in Burma as part of an overall strategy to encourage economic growth and improve the standard of living for the people of Burma. The United States plays a leading role by enhancing human capacity and promoting global standards throughout Southeast Asia due to the quality of private investment. U.S. companies will continue to play a critical role in supporting broad-based, sustainable development in Burma and are helping the country progress toward a more open, inclusive, and democratic society.

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crisis in May and June 2015, the United States provided more than $6 million towards the emergency appeals from the International Organization for Migration and the UN High Commissioner for Refugees and helped provide temporary shelter, emergency relief items, and health, nutrition, and psychosocial assistance. During the heavy seasonal rainfall in July and August 2015 and Tropical Cyclone Komen, which caused significant flooding and landslides throughout the country and affected more than 1.6 million people, the United States provided more than $5 million in humanitarian assistance to all affected communities, working with local officials and international relief partners to distribute essential supplies and services to the emergency shelters in the worstaffected areas and assist in early recovery efforts. The United States continues to provide emergency assistance to vulnerable communities along the Thailand-Burma border and in Rakhine, Kachin, and Shan States.   In addition to USAID, many other U.S. agencies provide assistance and training in Burma, including the U.S. Department of State, U.S. Department of Commerce, U.S. Department of Health and Human Services, U.S. Census Bureau, U.S. Patent and Trademark Office, U.S. Department of Energy, U.S. Department of Labor, U.S. Department of Defense, U.S. Department of the Treasury, and U.S. Trade and Development Agency.

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U.S. ASSISTANCE TO BURMA The United States has a long-standing commitment to improving the lives of the people of Burma. After the USAID Mission was closed in 1989, the United States continued to deliver emergency humanitarian assistance along the Thailand-Burma border, including through NGO partners for Burmese refugees and asylum seekers in the refugee camps on the border. The United States resumed targeted health programs in 1998. In 2008, U.S. assistance efforts scaled up in response to the devastation caused by Cyclone Nargis. Burma’s ongoing reforms led to the re-

establishment of the USAID Mission in 2012.   Carefully integrated with U.S. diplomatic efforts, U.S. development assistance focuses on deepening and sustaining key political and economic reforms, ensuring that the democratic transition benefits everyday people, and mitigating division and conflict. Since 2012, the United States has provided over $500 million to support Burma’s transition, advance the peace process, and improve the lives of millions, including by assisting communities affected by violence and combatting hate speech and communal violence. More than 1.1 million people have improved food security, and over 300,000 impoverished farming families have increased their agricultural productivity with better access to technology, markets and new investments. New entrepreneurs are benefiting from the economic reform process, which has increased access to information and communications technology. Over 20 public-private partnerships with leading U.S. corporations, information and communications technology companies, and foundations work to develop small and medium enterprises, improve healthcare, and bring new technologies to Burma. In preparation for the historic elections in 2015, the United States trained more than 7,300 political party members and partnered with over 300 civil society organizations on voter education and observation, strengthening public participation in Burma’s overall reform process.   In FY 2015, the United States provided more than $50 million to address humanitarian needs in Burma, including among internally displaced persons throughout the country and vulnerable Burmese refugees and asylum seekers in the region. In response to the maritime migrant

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society, human rights activists, religious and ethnic leaders, and youth, demonstrating the United States’ continuing support to Burma in its democratic reform efforts.   While the country has made significant progress, major institutional and political challenges remain, including completing the national reconciliation process with various ethnic groups, strengthening respect for and protection of human rights and fundamental freedoms, releasing remaining political prisoners, and improving the conditions in Rakhine State, particularly those facing members of the Rohingya population. Additionally, more progress needs to be made to reduce the military’s role in politics, move from cease-fires to political dialogue, and to improve rule of law and government accountability. The United States continues to emphasize to the Government of Burma the importance of promoting values of tolerance, diversity, and peaceful co-existence, and for the Burmese military to completely end military ties with the Democratic People’s Republic of Korea.   The military government changed the country name to “Myanmar” in 1989.

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Monetary Fund, World Bank, and World Trade Organization.

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» BILATERAL REPRESENTATION The U.S. Ambassador to Burma is Scot Marciel; other principal embassy officials are listed in the Department’s Key Officers List.   Burma maintains an embassy in the United States at 2300 S Street NW, Washington, DC 20008, tel.: (202) 332-3344; fax: (202) 3324351.

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government has not yet officially indicated interested in negotiating a BIT. Cambodia is also a member of the Association of Southeast Asian Nations (ASEAN) and the Asia Free Trade Area (AFTA).

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» MARKET ENTRY STRATEGY Working with a local partner, such as an agent or distributor, is the most effective way to reach Cambodian consumers. A local partner can facilitate and expedite market entry through market knowledge and established networks. In Cambodia, personal relationships can be the key to successful business transactions.

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Trade Organization (WTO) in 2004, trade has steadily increased. The United States is Cambodia’s largest single-country export destination. In 2015, approximately 25 percent of Cambodia’s total exports reached the United States – primarily garment and footwear products. In 2016, Cambodian exports to the United States were valued at $2.81 billion and U.S. exports to Cambodia totaled $361 million. The United States and Cambodia are signatories to a 2006 Trade and Investment Framework Agreement (TIFA) to promote greater trade and investment in both countries and to provide a forum for addressing bilateral trade and investment issues. In February 2016, the third TIFA meeting was held in Phnom Penh. The United States and Cambodia began exploratory discussions on a Bilateral Investment Treaty (BIT) in May 2013, but the Cambodian

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MARKET OVERVIEW Cambodia has experienced rapid economic growth over the last decade. Cambodian gross domestic product (GDP) has grown at around seven percent over the past decade and it is expected to continue to grow at a similar rate in 2017. In 2016, Cambodia graduated to lower-middle income status as measured by the World Bank with a Gross National Income (GNI) per capita of $1,070. The country, however, remains one of the poorest in Asia. It is still reliant on foreign aid, with donor support totaling approximately 25 percent of the government’s budget in 2016. Despite the strong performance of the garment, tourism, and construction/real estate sectors, Cambodia remains an agrarian country.   Since Cambodia became the first leastdeveloped country (LDC) to join the World

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MARKET OPPORTUNITIES Cambodia offers potential business opportunities in agribusiness and food processing; tourism infrastructure and resorts; education; architecture, construction, and engineering services; household goods and appliances; used cars and automotive parts; power generation equipment and power transmission infrastructure; fast food and beverage franchises; pharmaceuticals; and medical supplies and equipment.

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DOING BUSINESS IN

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Significant challenges to doing business in Cambodia commonly cited by the private sector include weak rule of law, poor infrastructure, high energy costs, corruption, and under-developed human resources. Disputes over land rights and limited enforcement of intellectual property rights, including the sale of counterfeit and pirated products, also remain major concerns for U.S. companies.

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Cambodia became a member of the United Nations in 1955 following independence from France in 1953. Cambodia and the United States belong to a number of the same international organizations, including the UN, International Monetary Fund, World Bank, and World Trade Organization.

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BILATERAL REPRESENTATION The U.S. Ambassador to Cambodia is William A. Heidt; other principal embassy officials are

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Cambodia is at peace after decades of conflict, although important challenges remain. Cambodia relies heavily on foreign

Cambodia's economy still suffers from decades of war and internal strife. The economy is heavily dollarized; the dollar and riel can be used interchangeably. The U.S. normalized economic relations with the country in 1992, and is now the largest single country purchaser of Cambodia’s exports. Manufacturing output is concentrated in the garment sector, which dominates Cambodia's exports, especially to the U.S. and the European Union.

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BILATERAL ECONOMIC RELATIONS

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Over the last several decades of the 20th century, the United States and Cambodia established, broke off, and reestablished relations as a result of armed conflict and government changes in Cambodia. Full diplomatic relations were established after the freely elected Royal Government of Cambodia was formed in 1993. President Obama became the first incumbent President to visit the country during the November 2012 East Asia Summit. The United States is working with Cambodia to further develop its democratic institutions and promote respect for human rights. The two countries also are striving to increase trade and address challenges from promoting regional security to expanding global health and development. The United States also supports efforts in Cambodia to reduce the prevalence of HIV/AIDS, improve nutrition for children, eliminate human trafficking and corruption, address environmental degradation, better manage natural resources, foster economic development, achieve the fullest possible accounting for Americans missing from the Indochina conflict in the 1960s and 1970s, and to bring to justice those most responsible for serious violations of international humanitarian law committed under the 1975-79 Khmer Rouge regime.

assistance—for many years between 30 and 40 percent of the central government’s budget depends on donor aid. U.S. assistance makes significant contributions to the country’s development. In 2014, U.S. foreign assistance for programs in health, education, governance, economic growth, and demining of unexploded ordnance totaled over $77.6 million.

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listed in the Department's Key Officers List. Cambodia maintains an embassy in the United States at 4530 16th Street NW, Washington DC 20011; tel: (202) 726-7742; fax: (202) 726-8381.

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MARKET CHALLENGES The business environment in Indonesia is challenging, with Indonesia ranked 91 out of 190 countries in the Ease of Doing Business 2017 report by the World Bank. U.S. firms encounter complex bureaucratic and regulatory requirements which make it timeconsuming to enter the market.  Indonesian infrastructure and service networks have not been developed or maintained to keep pace with the booming consumer-led economy, causing increased transaction costs and inefficiencies that hamper exporters and investors. Deregulation has reduced some barriers, but non-tariff barriers remain widespread and

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Indonesia is Southeast Asia’s largest economy with a GDP of 932 billion in 2016 (USD), ranking 8th in the world based on purchasing power parity, and averaging over 5% growth over the last decade. Growth is projected by the IMF to reach 5.1% for 2017 due to strong private consumption. President Joko Widodo (known as “Jokowi”) took office in October 2014 and has pledged to improve infrastructure, diversify the economy, and reduce barriers to doing business in Indonesia as a means of increasing economic growth.   Over the past decade Indonesia has enjoyed steady economic growth, though less than needed to pull the country into upper middle-income status. Sound macroeconomic policies, combined with growing domestic demand and high

commodity prices, propelled economic expansion in recent years, but protectionist policies, corruption at all levels of government, poor infrastructure, weak rule of law, and labor rigidity continue to pose challenges.  Beginning in September 2015, the Government of Indonesia (GOI) announced a series of economic reform packages in an effort to spur its GDP growth and encourage foreign investment. The announced reforms are a positive signal of the Jokowi administration’s desire to improve the business climate; however, the implementation and impact of the policy reforms remains limited. Nonetheless, the Indonesian market has many positive attributes.   Indonesia has a GDP per capita of $3,604 ($11,700 at PPP) that exceeds many of its

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the bureaucracy can still be cumbersome. Laws are often opaque or conflicting. Import licensing procedures and permit requirements, product labeling requirements, pre-shipment inspection requirements, local content and domestic manufacturing requirements, and quantitative import restrictions impede U.S. exports.   Although significant anti-corruption measures have been undertaken by the Indonesian government, corruption remains a concern for many businesses looking to operate within Indonesia. Indonesia ranked 90th on Transparency International’s Corruption Perceptions Index 2016. Companies are recommended to have a solid due diligence process in place and should consult with the U.S. Commercial Service prior to signing with agents and distributors. Although improving, significant rule-of-law issues persist. Formal dispute settlement mechanisms are not considered effective, and business and regulatory disputes— which would generally be considered administrative or civil matters in the United States—may be considered criminal cases in Indonesia. The court system is widely viewed as corrupt. In addition, international arbitration is widely discouraged by the government of Indonesia.   Competition from 3rd country firms such as Singapore, China, Japan, Australia, Korea, Russia, France, and other regional players is intense, and U.S. firms often have to significantly adapt their business model and pricing scheme to compete effectively.   Official trade statistics understate market opportunities and American presence given the large numbers of U.S. shipments that are recorded as U.S. exports to Singapore, but which ultimately enter Indonesia, and U.S. sales in Indonesia that U.S. multinationals

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ASEAN neighbors such the Philippines and Vietnam, and with 258.8 million people (IMF), Indonesia’s economy comprises nearly half of ASEAN economic output.   Indonesia is a thriving democracy with significant regional autonomy. It is located on one of the world’s major trade routes and has extensive natural resource wealth distributed over an area the size of the United States and comprised of 17,508 islands (CIA World Factbook).   According to Euromonitor International, Indonesia has the world’s fourth largest middle class with 17.3 million households as of 2014, and is forecasted to expand to around 20 million households by 2030.  Globally, Indonesians are the fourth largest users of Facebook (87 million, April 2017). According to Statista, in May of 2016, Indonesia was found to have the third highest number of active Twitter-users in the world, after the United States and India. Also according to Statista, in May of 2017, Indonesia had the fifth highest number of internet users in the world at 132 million.

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U.S. companies must visit the Indonesian market in order to properly choose an appropriate agent or distributor in Indonesia. Appointment of a representative requires care, since it is difficult to terminate a bad relationship. Qualified representatives will not take U.S. principals seriously unless they make a commitment to visiting the market on a regular basis. Patience, persistence and presence are three key factors for success in Indonesia.   Important factors affecting purchasing decisions in Indonesia are pricing, financing, technical skills, and after-sales service. Firms should be prepared to invest in training for their local staff, from entry-level personnel to experienced managers.  Indonesian non-financial firms often

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depend on trade financing with nearly 50% of their financing obtained from abroad via loans, bonds, and other credit. U.S. Ex-Im Bank, OPIC, and SBA are all suitable providers of trade and investment financing for local projects.   Although it is possible for U.S. companies to sell directly to the government and state-owned companies, local agents or distributors are often critical (and at times, required by law) for successful project development and delivery of products or services. Many government tenders are awarded based on the proven track record of providers or long-established relationships between the government agency and an agent or distributor.

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MARKET OPPORTUNITIES Consumer-related market opportunities continue to lead growth in the world’s fourthlargest country, and expansion in the retail, health, education, telecom and financial services sector have boomed in the last few years. The Indonesian consumer is ranked as one of the most confident in the world, and 50% of Indonesia’s 255 million citizens are under the age of 30.   Indonesia’s aviation market is growing at 20% per year and favors U.S. products. Aircraft replacement parts and services is a valuable and significant market. There is also demand for air traffic control and airport logistics services and ground support equipment. A competitive and expanding banking market offers significant opportunities for IT and banking equipment, software and technology providers.   Indonesia’s under-developed public infrastructure remains a major national challenge and could present significant opportunities in aviation, rail, ports and land transport, as well as in municipal infrastructure projects such as water supply and wastewater systems.   As the Indonesian military expands its budget, there are opportunities for U.S. defense manufacturers to sell a range of military aircraft, vehicles, communications systems, spare parts, and maintenance services. Monitoring and protection of sea-borne traffic for both national security and fisheries enforcement presents new opportunities.   Important opportunities outside of Jakarta remain in energy and electricity transmission services. The Government of Indonesia

has announced its intention to increase electricity generation by 35,000 MW by 2019. It is not going to meet that goal but growth in power generation projects, conventional and renewable, and including Independent Power Producers, is expected to continue for the next decade.  Telecommunications equipment and services and satellites remain excellent areas for American products and services, which have a comparative advantage technologically.  Education and professional training, medical equipment and high-quality American agricultural commodities all retain their market edge even with premium prices.   Emerging opportunities include palm oil, biofuel processing, clean energy and technology to improve local production capacity, and potentially cold storage and fish processing equipment and services.

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source via third countries.

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Indonesia and the United States belong to a number of the same international organizations and forums, including the United Nations, ASEAN Regional Forum, the East Asia Summit, Asia-Pacific Economic Cooperation forum, G-20, International Monetary Fund, World Bank, and World Trade Organization. Indonesia also cooperates with the United States on issues of regional and global concern such as violent extremism, global peacekeeping operations, health

BILATERAL REPRESENTATION The U.S. Ambassador to Indonesia is Joseph R. Donovan Jr.; other principal embassy officials are listed in the Department’s Key Officers List.   Indonesia maintains an embassy in the United States at 2020 Massachusetts Avenue NW, Washington, DC 20036 (tel. 202-7755200).

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Indonesia, the largest economy in Southeast Asia, has enjoyed steady economic growth over the past decade, averaging between 5-6 percent, with moderate inflation, rising

INDONESIA’S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

Indonesia faces domestic development challenges; uneven benefits from democratic and economic progress; fragile institutions that lack capacity to adequately address its social service needs; and risks from climate change and environmental degradation. It is also home to 41 million people living below the international poverty line of $1.25 a day. Cooperation extends across a range of key development areas: strengthening education and professional ties, improving governance, strengthening health systems, advancing security, partnering on international issues, and supporting environmental stewardship. Both countries are committed to strengthening university partnerships and increasing the number of American and Indonesian students who study in each other’s country. Currently, approximately 8,000 Indonesians study in the United States, and 500 U.S. citizens study in Indonesia.   U.S. development assistance is delivered through the U.S. Agency for International Development (USAID), Millennium Challenge Corporation and Peace Corps. USAID has been in Indonesia for over 60 years, enabling Indonesians to realize their full potential by partnering with Indonesians to become self-reliant, advanced, well governed, and prosperous. The innovative programming covers a five-year horizon valued at approximately $700 million in the heath, environment, education, and governance sectors. In 2013, the $600 million Millennium Challenge Corporation Compact entered into force with investments in renewable energy, maternal and child health, and Indonesia’s efforts to modernize its public procurement

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BILATERAL ECONOMIC RELATIONS

foreign direct investment, and relatively low interest rates. Indonesia’s annual budget deficit is capped at 3 percent of GDP, and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100 percent shortly after the Asian financial crisis in 1999 to less than 25 percent today. Indonesia’s growing middle class, strong domestic demand, large and youthful population, and need for new infrastructure makes it an important potential market for U.S. products and investment. U.S. bilateral goods trade with Indonesia totaled almost $27 billion in 2015, while bilateral trade in services with Indonesia exceeded $3 billion. Principal U.S. exports to Indonesia include transportation equipment, including aircraft, food and agricultural products, machinery and equipment, and chemicals. However, there are significant challenges to our bilateral economic relationship: the implementation of protectionist laws, limited infrastructure, and an unevenly applied legal structure.

U.S. ASSISTANCE TO INDONESIA

system. The Peace Corps works in underserved and rural schools and communities to help Indonesia reach its education development goals through grassroots people-to-people contact, cultural exchange, and technical skills transfer.   Indonesia has the third-largest area of tropical rainforest on the planet, with 131.3 million hectares – equivalent to 68% of its landmass – covered by forests. Indonesia is considered one of the world’s top greenhouse gas emitters. The majority of Indonesia’s greenhouse gas emissions stem from land use activities and peat fires. U.S. assistance programming supports Indonesia’s goals of reducing greenhouse gas emissions through improved land use practices and increasing the amount of renewable energy generated as a proportion of Indonesia’s overall energy production.

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U.S.-INDONESIA RELATIONS U.S.-Indonesia relations have taken on increasing importance. Indonesia is the world’s third largest democracy, has the largest Muslim-majority population, is the tenth-largest economy in the world by purchasing power, and possesses the world’s greatest marine biodiversity and its second greatest terrestrial biodiversity. Indonesia also borders the South China Sea, which has the world’s busiest sea lanes -- over $5 trillion in cargo and as much as 50 percent of the world’s oil tankers pass through the South China Sea every year. The United States was one of the first countries to establish diplomatic relations with Indonesia in 1949, following its independence from the Netherlands. Indonesia’s democratization and reform process since 1998 has increased its stability and security, and resulted in strengthened U.S.-Indonesia relations. The United States and Indonesia initiated in 2010 a Comprehensive Partnership to foster consistent high-level engagement on democracy and civil society, education, security, climate, maritime, energy, and trade issues, among others. Based on its success, in 2015 the two countries upgraded the relationship to the U.S.-Indonesia Strategic Partnership, extending cooperation to issues of regional and global significance.

pandemics, and climate change.

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POLITICAL ENVIRONMENT

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POLITICAL ENVIRONMENT


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state control. Laos is politically stable.   Laos and the United States signed a bilateral trade agreement in 2005, although the terms of the agreement are still being implemented in Laos, with U.S. assistance. Since 2005 trade has increased from $14 million to $86 million per year in 2016. China, Vietnam and Thailand have dominant trade and investment roles in the Lao economy, with participation in certain sectors by Japan, Singapore, Malaysia, the Netherlands, U.K and South Korea. Bilateral trade between Laos and Thailand, its largest trading partner by far, totaled $4.6 billion in 2016.   Laos’ GDP reached $15.9 billion in 2016, up 7.02 percent from the prior year. The Lao economy’s growth is projected to remain at an annualized rate of 7 percent in 2017.   The Lao population was 6.6 million in 2016. Approximately 70 percent of the workforce is

CAMBODIA

MARKET OVERVIEW The Lao market economy has grown at nearly 8 percent for the last decade and is heading into a new phase of regional and global integration. The Lao government’s commitment to WTO accession and the creation of the ASEAN Economic Community (AEC) in 2015 led to major reforms of economic policies and regulations aimed at improving the business and investment environment. The Lao government is increasingly tying its economic fortune to the economic integration of ASEAN and exportled development.   Laos is one of the world’s few remaining communist countries. The Lao economic model bears some relation to its Chinese and Vietnamese counterparts, in that it has implemented market-based economic practices while maintaining a high degree of

MARKET CHALLENGES The Lao government has a goal of becoming a rule of law state by 2020. Currently, commercial law and the commercial court system in Laos are still developing and are not transparent. Sanctity of contract is not well understood in Laos and concessions or property rights granted by the government are liable to overlap or conflict with other claims.   Customs procedures are improving but remain opaque. Customs clearance speed has improved markedly in recent years with the introduction of automated customs procedures, dropping from an average 11 hours in 2012 to 6.5 hours in 2016. The cost for a standard shipping container fell from $2100 to $1810 in 2016.   Despite government efforts to establish “one stop service” for business registration and licensing, procedures for investment are cumbersome and approvals often do not occur within stated times or rules. Human resources are underdeveloped in Laos, and employers frequently have a difficult time finding and retaining qualified employees. The market for skilled and unskilled workers is extremely tight. A World Bank survey found that nearly half of advertisements for low-skilled workers attract no applicants   Tax administration is consistently cited as one of the largest barriers to commerce

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  The Lao Trade Portal, established in 2012, has information for exporters and importers. The Lao Electronic Gazette, is a repository of all Lao legislation and offers the public the opportunity to comment on proposed legislation. Though most information is in Lao, many laws have been translated into English as well.

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employed in agriculture, mostly in small scale farming. The Lao population is young, with more than half under 25 years of age and 70 percent under 35.   The country has a small but growing middle class concentrated mostly in the capital and larger cities.   The Lao government weathered a fiscal and monetary crisis in 2013 and into 2014, brought about by poor budgetary processes, uncontrolled provincial spending, and a large raise for civil servants. The government continues to take steps to address some deficiencies, though overall, fiscal and budgetary policy formulation and implementation remain weak.  Major international companies have begun to invest in Lao Special Economic Zones, particularly near Savannakhet and Vientiane. Investors include Toyota, Nikon, and Essilor. Coca Cola opened a bottling plant in 2015. GE opened a representative office in June 2017 to develop opportunities in the energy – specifically, hydropower – and medical equipment sectors.   Laos ran a projected trade deficit of approximately $2.88 billion in 2016, with merchandise imports of $7.68 billion, exports of $4.8 billion and net services of $543 million. Laos imported $30.9 million worth of goods from the United States and exported $55.1million to the United States in 2016. Top U.S. exports to Laos include man-made cloth, gems and diamonds, precious metals, specialized mining and industrial machines, passenger cars, excavating machinery, civilian aircraft engines, equipment and parts. Top U.S. imports from Laos are green coffee, nonferrous metal, industrial supplies, cellphones, telecommunication equipment, gem diamonds, Jewelry, apparel household goods, apparel, and jewelry.

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MALAYSIA PHILIPPIINES

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MARKET ENTRY STRATEGY American companies considering investments in Laos are advised to visit the country several times, as personal relationships are essential to locating suitable Lao business partners and avoiding misunderstandings. In some types of business, 100 percent foreign ownership is permitted, although many foreign businesses take on a Lao partner or agent and consult closely with law firms with local practices.   The American Chamber of Commerce (AMCHAM) in Laos was established in 2012 and was rebranded “the American-Lao Business Association” in mid-2017 pending completion of their registration with the Lao government and the U.S. Chamber of Commerce and fulfilment of other AmCham requirements.   The Lao National Chamber of Commerce and Industry (LNCCI) may help locate suitable local partners or distributors. Foreign businesses can also apply for membership. In addition to the American Lao Business Association, there are business chambers or associations from Australia, China, France, India, Japan, Korea, Taiwan, Vietnam, and the European Union.

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a major driver of growth in Laos, particularly copper and gold. Other mineral resources include bauxite and potash.

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MARKET OPPORTUNITIES Increases in disposable income, particularly among elites with access to resource-based industries, and a slowly expanding middle class mean that the consumer and services sectors are likely to experience continued growth in the future.   The government is strongly committed to becoming “the battery of Southeast Asia” by harnessing hydropower, and to a lesser extent wind, solar, and thermal energy resources to export electricity throughout the region. The power sector is open to foreign investment, with many international firms represented. Hydropower and transmission and distribution infrastructure will be the focus of increasing investment by the Lao government as it develops its power industry.   The Lao agricultural sector also shows promise and is a priority for the Lao government. Land is underutilized. The low population density in Laos and large markets for agricultural goods and livestock in neighboring markets have brought many new investors to explore agricultural

opportunities. There are opportunities for exports of modern harvesting, planting, processing, and other technologies that would help the sector to grow.  Many international companies are exploring Special Economic Zones (SEZs) in Vientiane and Savannakhet provinces. SEZs offer a range of incentives and tax holidays to investors depending on the industry. International investors have been attracted by the relative abundance of inexpensive electricity and the low cost of labor.   The Lao government has targeted tourism, especially ecotourism, as a major area of future growth. Laos is attempting to attract more upmarket tourists to its market and has liberalized air services resulting in more frequent and less expensive flights to and from the country.   The Lao government fully liberalized the retail sector in 2015, allowing foreign retail establishments to enter the country.   Laos has a poorly developed infrastructure with only a few kilometers of rail, few decent roadways, and underdeveloped medical, water, and sewage systems. The Government of Lao PDR (GOL) has started to make investments in these areas in keeping with its goal of graduating from Least Developed Country status by 2020. One of the development projects happening recently is the Lao-China co-investment in the ChinaLao railway project announced in September 2016 to develop a 414 km standard-gauge line runs south from the China-Laos border at Boten to Luang Prabang, Vangvieng and Vientiane Capital. There are also plans to build a railway to connect Khammuan Province’s capital to a port in Vietnam and the Vientiane Public Bus Transport Project in the near future.   The minerals and mining sector has been

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in Laos in surveys of small and medium enterprises.   The World Bank’s “Ease of Doing Business” project ranks Laos 139 out of 190 other economies.   The current Government is working hard to address corruption which is still a major problem and seriously hampers the efficient operation of the Lao economy and society. Competitors from countries without legal or moral sanctions against corrupt practices have long had a major advantage in securing government approvals and concessions. Frequent bribes and payoffs are an accepted part of Lao business culture.

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LAOS'S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

BILATERAL REPRESENTATION

THAILAND

The U.S. Ambassador to Laos is Rena Bitter; other principal embassy officials are listed in the Department's Key Officers List. Laos maintains an embassy in the United States at 2222 S Street NW, Washington, DC 20008 (tel: 202-332-6416).

PHILIPPIINES

Laos and the United States belong to a number of the same international organizations, including the United Nations, ASEAN Regional Forum, International Monetary Fund, World Trade Organization, and World Bank.

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MALAYSIA

U.S. ASSISTANCE TO LAOS Though still under one-party communist rule, Laos' economy is now essentially a free market system building upon the 1986 introduction of economic reforms. The overarching policy goals for U.S. assistance to Laos are to help the country meet its development goals, improve governance and the rule of law, and increase its capacity to integrate fully within the Association for Southeast Asian Nations (ASEAN) and the global economy.   A large part of U.S. bilateral assistance to Laos is devoted to improving health and child nutrition. The United States also helps improve trade policy in Laos, promotes sustainable development and biodiversity conservation, and works to strengthen the criminal justice system and law enforcement. The United States has provided significant support for clearance of UXO from the war, particularly cluster munitions, as well as for risk education and victims’ assistance. President Obama announced $90 million in UXO funding over three years during his visit.

U.S. exports to Laos include metals, aircraft, vehicles, and agricultural products. U.S. imports from Laos include apparel, inorganic chemicals, agricultural products, and precious metals. Laos acceded to the World Trade Organization (WTO) in 2013 and is part of the ASEAN Economic Community (AEC). Both of these organizations have required—and will continue to spur—trade and regulatory reforms, which should make the investment climate more attractive to U.S. companies. WTO and AEC requirements also reinforce fuller implementation of the conditions of the 2005 U.S.-Laos bilateral trade agreement. The United States and Laos have also signed a civil aviation agreement. The two countries also signed a Trade and Investment Framework Agreement in February 2016.

INDONESIA

The United States established full diplomatic relations with Laos in 1955, following its full independence from France in 1954. Within a few years, Laos entered into civil war, and the United States supported the country’s royal government. For nearly a decade beginning in 1964, Laos was subjected to heavy U.S. bombing as part of the wider war in Indochina. Following the change of regimes in Vietnam and Cambodia in 1975, a communist government also came to power in Laos. The government aligned itself with Vietnam and the Soviet bloc, implementing one-party rule and a command economy. U.S.-Lao relations deteriorated after 1975, and U.S. representation was downgraded. After the collapse of the Soviet Union, Laos sought to improve relations with other countries. Full U.S.-Lao diplomatic relations were restored in 1992. In July 2012, Secretary of State Hillary Clinton visited Laos, marking the first visit by a Secretary of State since 1955. Secretary of State John Kerry was the second, visiting Laos twice in 2016. President Obama became the first U.S. President to visit Laos in September 2016, when he and Lao President Bounnhang Vorachit announced a Comprehensive Partnership.  Accounting for American personnel missing in Laos and clearing unexploded ordnance (UXO) from the war was the initial focus – and remains a key component – of the post-war bilateral relationship. Since that time the relationship has broadened to include cooperation on a range of issues including health, child nutrition, education, environmental protection,

trade liberalization, legal reform, counternarcotics, law enforcement cooperation, and English language training. This expansion in cooperation has accelerated since 2009, with the launch of the Lower Mekong Initiative (LMI), which serves as a platform to address complex, transnational development and policy changes in the Lower Mekong subregion. The United States and Laos share a commitment to ensuring a prosperous and sustainable future for the Mekong subregion.

CAMBODIA

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U.S.-LAOS RELATIONS

BILATERAL ECONOMIC RELATIONS

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POLITICAL ENVIRONMENT

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SINGAPORE BRUNEI BURMA CAMBODIA INDONESIA LAOS MALAYSIA PHILIPPINES

8.1 percent

Thailand

5.8 percent

Taiwan

4.3 percent

South Korea

4 percent

Indonesia

3.8 percent

Hong Kong

3.4 percent

India

3.3 percent

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THAILAND

According to the Bureau of Economic Analysis, there was a 154 percent increase in Malaysia’s Foreign Direct Investment (FDI) into the United States between 2010 and 2015.In 2015, Malaysia’s the cumulative FDI into the United States was US$1,613 million.   In 2014 (latest available data), U.S. affiliates of Malaysian-owned firms employed 2,700 U.S. workers. In 2014, U.S. affiliates of majority Asian and Pacific-owned firms spent US$10.5 billion on research and development (R&D), and contributed US$116.9 million to U.S. goods exports expansion. The top six industry sectors of the Malaysian FDI are from financial services, metals, hotels & tourism, semiconductors, and electronic components.

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THAILAND

9.2 percent

Japan

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United States

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12,6 percent

INDONESIA

MARKET OVERVIEW For centuries, Malaysia has profited from its location at a crossroads of trade between the East and West, a tradition that carries into the 21st century. Geographically blessed, peninsular Malaysia stretches the length of the Strait of Malacca, one of the most

economically and politically important shipping lanes in the world. Capitalizing on its location, Malaysia has been able to transform its economy from an agriculture and mining base in the early 1970s to a relatively hightech, competitive nation, where services and manufacturing now account for 74 percent of GDP (52 percent in services and 22 percent in manufacturing in 2016).   Malaysia’s 2017 GDP growth is expected to be between 4.3-4.8 percent, while its 2016 GDP growth was 4.2. Prior to this, Malaysia’s GDP growth in 2015 was at about five percent, six percent in 2014, and 4.7 percent in 2013. Malaysia is an oil and gas producing country and has been facing economic headwinds from declining oil and gas prices.  Malaysia’s currency, the Ringgit has experienced downward pressure over the past few years. In 2013, the average exchange

16.2 percent

Singapore

CAMBODIA

Malaysia, a country of Southeast Asia lies just north of the Equator and is composed of two noncontiguous regions: peninsular Malaysia and East Malaysia (which is on the island of Borneo). Kuala Lumpur, Malaysia’s capital and Putrajaya, the administrative and government center are located in the western part of peninsular Malaysia. The states of Sabah and Sarawak occupy roughly the northern fourth of the island of Borneo and share land boundaries with Indonesia and Brunei.

China

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million). The World Bank classifies Malaysia as an upper-middle income nation. The average foreign exchange rate for 2014 was US$1=RM3.3; 2015 was US$1= RM3.90. For 2016, foreign exchange was RM4.12.   Malaysia’s total trade for 2016 was $358 billion. This is a 4.5 percent decrease in value compared to 2015. Malaysia’s top trading partners:

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rate for the Malaysian Ringgit against the US Dollar was US$1=RM3.12. In 2014, US$1=RM3.30. In 2015, it was US$1=RM3.90. For 2016, it averaged around RM4.12. The exchange rate for the month of May 2017 hovered around RM4.30 to US$1. The lower exchange rate has impacted Malaysia’s economy and the government has been taking financial policy steps to strengthen its currency. The weaker ringgit and slower growth have dampened consumer sentiment and spending throughout 2016 and into early 2017. In Q2 2017, the Malaysian Ringgit strengthened slightly against the US dollar.   Despite the fact the Malaysian economy is facing some turbulence; it is worthwhile to note that according to the International Monetary Fund World Economic Outlook Projection (Oct 2016), Malaysia’s per capita income was US$9546 (world ranking 66/189 economies) and its Purchasing Power Parity (PPP) was US$27,234,080 (world ranking 48). Its purchasing power per capita is among the third highest in ASEAN, after Singapore and Brunei. Malaysia’s level of economic development drives both consumer and business demand for products and services. Its consumers, though price sensitive, are accustomed to several decades of strong growth. Thus, they are attracted to and are familiar with international branded products, better education, quality healthcare products and services, as well as ecological lifestyle offerings.   By December 2016, Malaysia reported it population size to be 31.7 million. According to Bank Negara Malaysia (Malaysia’s Central Bank), Malaysia’s 2016 GDP is RM1,230,121 million (US$298,573 million); while in 2015 it was valued at RM1,062,805 million (US$272.5 million); whereas its 2014 GDP was RM1,012,506 million (US$306,820

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Government restrictions hamper foreign involvement in several areas, including: government procurement contracts; financial, business, and professional services; and telecommunications. In many cases it is imperative to have a local partner, usually a Malay-owned Bumiputra company to effectively compete in the market.

MARKET OPPORTUNITIES Due to recent global events, such as the rising world geopolitical tension in the Korean Peninsula and the recently strained U.S.China relations, the Malaysia marketplace has become more cautionary. However, Malaysia’s 2017 Gross Domestic Product is expected to be between 4.3-4.8 which signals a solid economic climate. While the value of the Malaysia Ringgit has depreciated against the U.S. dollar over the past three years; since the beginning of 2017 the Ringgit has started to appreciate and consumer sentiments and concerns are lessening.   Additional market opportunities exist in the proposed or under construction transportation infrastructure projects:

MALAYSIA

» RESTRICTIONS ON FOREIGN INVOLVEMENT

» HALAL CERTIFICATION Malaysian has developed a standard MS1500:2400 requirement for the production, preparation and handling of Halal food. This standard prescribes to the practical guidelines for the food industry on the preparation and handling of Halal food and serves as a basic requirement for food product and food trade or business in Malaysia. It is used by JAKIM (the Department of Islamic Development Malaysia) as the basis for certification. JAKIM is Malaysia’s Halal certifying body. In actual practice, standards and testing have remained unclear in some instances, and foreign companies have had difficulties with the certification process.

LAOS

» IMPORT PERMITS Duty rates and systems of import permits in protected industries, such as automobiles and motorcycles, combined with excessive excise taxes, continue to block open trade in these sectors.

Malaysia continues to express a commitment to protecting and enforcing intellectual property rights (IPR), and has made important progress in the past few years, with its notable removal from the USTR Special 301 watch list in 2012. Malaysia reinforced IPR protection commitment while negotiating for TPP. The member countries have agreed to the common goal of trade and investment framework integration across these countries, including strong and balanced standards for the protection and enforcement of IPR.  While challenges remain, Malaysian officials have augmented their resources to combat online piracy and have sustained their efforts to deny access to piracy websites, taking down infringing content on domestic sites, and conducting raids and arrests of Malaysians either operating or posting links to sites with pirated content. The Ministry of Domestic Trade, Cooperatives and Consumerism (MDTCC), responsible for IPR enforcement, remained largely dependent upon complaints from companies before taking action. Royal Malaysian Customs continued to express willingness to expand cooperation with the U.S. government to combat transshipments of pirated goods. In contrast to generally favorable views of Malaysia’s record of IPR enforcement, the pharmaceutical industry has expressed concerns that weaknesses in the system of protecting drug-related data stood as a disincentive to the development of innovative medicines and could undermine public health objectives to improve patient outcomes. As a result, the National Pharmaceutical Regulatory Agency (NPRA) has implemented the pharmaceutical data exclusivity clause. Pharmaceutical data

exclusivity is calculated based on the date the product is first registered, or granted marketing authorization and granted data exclusivity in the country of origin or in any country recognized, and deemed appropriate by the NPRA director.

INDONESIA

INDONESIA

» TRADE AGREEMENTS The U.S. has formally withdrawn from the Trans-Pacific Partnership Agreement (TPP). There are indications that the remaining eleven signatories of TPP plan to move forward with TPP without the United States. The remaining eleven signatories of the TPP are: Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, Vietnam and Japan.   The United States is in favor of bilateral trade agreements over multilateral and it will continue to engage with the Asia-Pacific Economic Cooperation (APEC) countries. Malaysia is negotiating a Regional Comprehensive Economic Partnership (RCEP), which is a free trade agreement (FTA) between the ten ASEAN members and six countries where ASEAN have existing FTAs. The goal of the RCEP is a more comprehensive regional economic integration among its members. The RCEP also aims to simplify and harmonized the RCEP member countries’ respective bilateral FTAs.   The RCEP members are: Australia, Brunei, Cambodia, China, India, Indonesia, Japan, Laos, Malaysia, Myanmar, New Zealand,

MARKET CHALLENGES In the World Bank’s global Doing Business 2017 report, Malaysia had an overall downgrade of one rank to the 23rd position among the 190 economies covered in the survey. This report stated that it is now more difficult to start a business in Malaysia and the difficulty level is a significant drop warranting a downgrade from the 59th position in 2016 to 112th position in 2017. The ease of “Getting Credit” has increased nine positions to 20th ranking.

» INTELLECTUAL PROPERTY RIGHTS (IPR)

CAMBODIA

There are numerous reasons why U.S. companies should consider exporting to Malaysia. These include the widespread use of English, the ability to repatriate capital and profits, a well-established legal framework, excellent infrastructure, and an affinity for United States products. In addition, a high rate (approximately 96 percent) of U.S. visa approvals and a 10-year maximum validity visa make it easy for your business partners to travel to the United States.

the Philippines, Singapore, South Korea, Thailand, and Vietnam.   Malaysia’s trade to the RCEP parties represents 62 percent (USD221.7 billion) of the nation’s global trade in 2016. The RCEP agreement negotiation is expected to be finalized by the end of 2017. If the RCEP is accepted, it will be Malaysia’s largest multilateral agreement.

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» TOP REASONS WHY U.S. COMPANIES SHOULD CONSIDER EXPORTING TO MALAYSIA

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MALAYSIA

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DOING BUSINESS IN MALAYSIA


INDONESIA

The government is committed to nation building and has outlined the following projects as key to this goal: • Nine domestic projects in health, education, tourism, software and communication infrastructure with allocated budget of RM6.7 billion by Khazanah Bhd (Malaysia’s sovereign wealth fund).

PHILIPPINES

• 175,000 units of PR1MA homes, to be sold at 20 percent below market price

• Paid-up capital of at least RM25,000 • Shareholders are 100 percent Bumiputra

• 100,000 units of PPA1M houses to be built and completed by 2018, (priced between RM90, 000RM300,000).

• Board of Directors are at least 51 percent Bumiputra

• 22,300 units of condominium

THAILAND

THAILAND

• Established under the Companies Act, 1965

PHILIPPIINES

• Managerial and Professional Staff are at least 51 percent Bumiputra

• 9,800 units of terrace houses • National flood forecasting and warning program,

• Supporting Staff are at least 51 percent Bumiputra

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Government of Malaysia’s affordable housing:

MALAYSIA

MALAYSIA

• Clean portable water treatment plant estimated budget of RM877 million earmarked.

LAOS

• Increase Internet speed in rural areas from 5Mbps to 20Mbps with an allocation of RM1.2 billion by the Malaysian Communications and Multimedia Commission (MCMC).

INDONESIA

LAOS

MARKET ENTRY STRATEGY Most exporters find that using a local distributor or agent is the best first step for entering the Malaysian market. A local distributor is typically responsible for handling customs clearance, dealing with established wholesalers/retailers, marketing the product directly to major corporations or the government, and handling after-sales service. Exporters of services generally also benefit from using of local partner.   Sales to the Government of Malaysia, Government Linked Companies (GLC), or for procurement in priority sectors favor local agents and/or a joint venture partners that are classified as a Bumiputra (Malay) company. The term Bumiputra refers to individuals who are ethnically Malay. A Bumiputra company is defined as a company that fulfills the following criteria:

CAMBODIA

CAMBODIA

• Upgrade of Sarawak interior roads

Please see Leading Sector chapter for more specific information on market opportunities.

  The Malaysian government and GLCs make use of offsets and other measures to encourage technology transfer, particularly in the priority sectors procurements. The Government of Malaysia and GLCs also look favorably on U.S. companies that have a long-term presence in the local market. Therefore for strategic or large-scale market entry, U.S. companies typically find they are treated more favorably when they are willing to establish a local office, hire Malaysians, engage in training, undertake some amount of local assembly or production, or at least plan regular and frequent trips to maintain relationships and presence.   In sectors that are not government dominated, companies, agents, or distributors should be selected based on competitive considerations (e.g. technical grounds or product knowledge). Since the Malaysian market is a very relationshiporiented market, having a local presence or local agent can influence the final outcome.

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• Toll-free Pan Borneo Highway to be completed by 2021 with cost estimation of RM16.6 billion. • Proposed LRT service from Kuching-Samarahan Serian in Sarawak

develop National Earthquake and Tsunami Sub-Centre in Sabah with an estimated cost of RM60 million.

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• High Speed Rail between Malaysia and Singapore

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The U.S. Ambassador to Malaysia is Kamala Shirin Lakhdhir.

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The United States and Malaysia meet frequently to discuss bilateral trade and investment issues and to coordinate approaches on APEC, ASEAN, and the WTO.

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Malaysia and the United States belong to a number of the same international organizations, including the United Nations, Asia-Pacific Economic Cooperation forum, ASEAN Regional Forum, International Monetary Fund, World Bank, and World Trade Organization. Malaysia and the United States participate in the East Asia Summit. Malaysia is currently a non-permanent member of the Security Council (2015-2016).

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MALAYSIA'S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

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U.S. assistance to Malaysia focuses on education, exchanges, cultural heritage preservation, counterterrorism, nonproliferation, and security cooperation. The U.S. Fulbright English Teaching Assistant program in Malaysia is among the largest in the world, helping improve the English language skills of thousands of Malaysian secondary school students. Exchange programs promote engagement with secondary school and undergraduatestudents,

Embassy of Malaysia 3516 International Court NW Washington, DC 20008 tel. (202) 572-9700.

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U.S. ASSISTANCE TO MALAYSIA

Malaysia maintains an embassy in the United States.

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U.S.-MALAYSIA RELATIONS The United States established diplomatic relations with Malaysia in 1957, following its independence from the United Kingdom, but has had a consular or commercial presence in the area comprising modern day Malaysia since the 1800’s. President Obama and Prime Minister Najib elevated the relationship to a Comprehensive Partnership in April 2014. Today, Malaysia is a significant regional and global partner for the United States, and the two countries share a diverse and expanding partnership in trade, investment, security, environmental cooperation, and educational and cultural relations. Economic ties are robust, and there is a long history of peopleto-people exchanges. Malaysia has a diverse democracy and is an important partner in U.S. engagement with Southeast Asia. The two countries cooperate closely on security matters, including counter-terrorism, maritime domain awareness, and regional stability and participate frequently in bilateral and multilateral training, exercises, and visits.

Fulbright Scholars, agricultural fellows, and participants of sports and cultural programs. In 2014, The United States announced additional exchange programs, grant opportunities and fellowships for youth ages 18 – 35 under the Young Southeast Asian Young Leaders Initiative (YSEALI). There are over 6,000 alumni of Department of Statesponsored exchange programs in Malaysia. Since 2001, the Ambassadors Fund for Cultural Preservation (AFCP) has supported 10 projects to support the preservation of cultural heritage in Malaysia. The United States supports Malaysia’s counterterrorism efforts through information sharing, capacity building programs for law enforcement and judicial authorities, and assistance to improve immigration security and border controls. The United States also works with the Malaysian government and civil society actors on programs to counter violent extremism. Non-proliferation assistance aims at enhancing Malaysia’s ability to enforce its laws on shipments and trans-shipments of controlled munitions, dual-use commodities, and weapons of mass destruction and related commodities. Security cooperation and training builds capabilities among Malaysia’s armed forces and coast guard, allowing it to take on an expanded international role, including peacekeeping operations.

In 2015, U.S.-Malaysia bilateral trade in goods and services approached $50 billion. In 2015, Malaysia was the United States’ 18th largest trading partner and the secondlargest trading partner among the 10 ASEAN members in Southeast Asia. In 2016, the United States was Malaysia’s third largest trading partner. U.S. exports to Malaysia include electrical machinery, machinery, aircraft, optic and medical instruments, and plastics. U.S. imports from Malaysia include electrical machinery, machinery, optic and medical instruments and rubber.   In 2015, Malaysia was ranked as the fourth fastest-growing source of foreign direct investment (FDI) in the United States. Malaysian FDI in the United States is led by the financial services, metals, hotels &tourism, semiconductors, rubber and electronic components. Malaysia’s Ministry of International Trade and Industry reported that the United States was the fifth largest source of foreign direct investment (stock) in 2016.

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Aquino government.

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• The overall improvement in macroeconomicstability, resilience

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• Net foreign direct investment (FDI) inflows were flat at $5.7 billion in 2014 and 2015 but

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• Consumer spending, supported by remittances from overseas Filipinos and a growing middle class, remains the major GDP growth driver. Although still lagging behind regional peers, fixed capital investments and manufacturing output have accelerated with improved business confidence under the

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• Philippine GDP growth slowed for a second consecutive year to 5.8 percent in 2015 due mainly to climate/weather-related damage to farm output and lethargic exports but nevertheless remained among Asia’s top performers. Most economists project the economy will grow around the six percent mark in 2016, buoyed in part by electionrelated spending.

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Key Economic Indicators and Trade Statistics • The Philippines has the twelfth largest population in the world (about 100 million) and is the fourth largest English-speaking country. It also has one of the youngest populations in the world, with more than two-thirds under the age of 35. Relatively high population growth (nearly two percent annually) will help drive economic growth for

the next several years, while also increasing the strain on the country’s infrastructure

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MARKET OVERVIEW Discusses key economic indicators and trade statistics, which countries are dominant in the market, the U.S. market share, the political situation if relevant, the top reasons why U.S. companies should consider exporting to this country, and other issues that affect trade, e.g., terrorism, currency devaluations, trade agreements.

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• The national government’s fiscal deficit ended 2015 at 0.9 percent of GDP, higher than in 2014 (0.6 percent of GDP) but still well below the government’s target of two percent a year. The ratio of taxes to GDP -- which remains among the lowest regionally -- improved slightly from 13.6 percent to 13.7 percent but fell short of the government’s 15.3 percent target, making it unlikely for the government to meet the 16 percent tax-to-GDP goal by the end of President Aquino’s term in 2016. Unwelcome shortfalls in targeted expenditures, including infrastructure spending, have been more than offsetting, reflecting problems in spending and implementation of projects. More vigorous efforts to untangle spending bottlenecks have yielded emerging improvements since the second half of 2015. Boosting tax collection remains a critical challenge moving forward to finance still large infrastructure gaps and the needs of a growing population, about a quarter of whom live in poverty.

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DOING BUSINESS IN

• The Philippines reversed from a US$2.9 billion balance of payments (BOP) deficit in 2014 (its first BOP deficit in nearly ten years) to a $2.6 billion surplus in 2015. The merchandise trade gap widened but resilient remittances from Filipino workers and migrants (up 4.4 percent year-on-year to $28.5 billion) and rapidly expanding Business Process Outsourcing revenues (up more than 15% to nearly $22 billion) kept the current account in surplus for a thirteenth consecutive year. Significantly smaller net outflows in the financial account -- reflecting a drop in residents’ offshore net direct investments, net withdrawals by residents of currency and deposit placements abroad, non-residents’ repayment of loans owed to local banks, and net foreign loan proceeds -more than offset the smaller current account balance, pushing the overall BOP position to surplus territory. These also more than made up for larger net outflows of portfolio capital as both local and foreign investors repositioned investments from emerging economies due to uncertainties over global economic prospects and the U.S. Fed funds rate lift-off.

• The Philippine Central Bank’s gross international reserves (GIR) increased by1.4 percent to US$80.7 billion between the end of 2014 and the end of 2015, equivalent to more than ten months’ worth of goods and service imports and nearly four times the Philippines’ short-term foreign debt -- well above international benchmarks.

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• Helped by soft global oil prices, average year-on-year consumer price inflation slowed markedly from 4.1 percent in 2014 to 1.4 percent in 2015, well below the 2-4 percent range targeted by the Philippine Central Bank. Average inflation will likely accelerate in 2016 due partly to food-supply pressures from a severe and prolonged drought but is expected to remain within the government’s 2-4 percent target band.

have generally increased under the Aquino government, growing from $1.1 billion in 2010 when President Aquino assumed office. The Philippines nevertheless remains among the region’s FDI laggards, with barely three percent of the total FDI stock in the region.

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• Limited Ownership: The Philippines has

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• The U.S. and the Philippines signed a five year Millennium Challenge Corporation (MCC) Compact, effective 2011, to reduce

• Ineffective Judicial System: The Philippines’complex, slow, and complicated judicial system can inhibit the timely and fair resolution of commercial disputes. Most cases take many years to reach a final verdict.

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Other major importing countries include Taiwan, Singapore, and the Republic of Korea.

Political Situation and Other Issues that Affect Trade • The political situation in the Philippines is stable. Philippine voters elected President Benigno S. Aquino III on May 10, 2010 to a single six-year term. In the May 9, 2016, general election, Filipinos elected Davao Mayor Rodrigo Duterte as president with around 39% of the vote. Mr. Duterte ran

• Graft and Corruption: The Philippine Government has made major strides in fighting graft and corruption, though some key officials of the Aquino Administration have been embattled with corruption issues despite making anti-corruption efforts a flagship program of the government. Corruption, a constraint to business and outside investment, is a pervasive and long-standing challenge in the Philippines. The country’s ranking in Transparency International’s Corruption Perceptions Index declined from 85 in 2014 to 95 in 2015.

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• In 2015, the Philippines ranked as the 32nd largest export destination for U.S. products and the 30th largest source of U.S. merchandise imports. The U.S. trade deficit with the Philippines was at $2.3 billion in 2015.

• The Philippines is one of just four countries selected to join the Partnership for Growth (PFG), a “whole of government” effort established by President Obama to unlock the growth potential of partner countries towards becoming the next generation of emerging markets. Signed in 2011, the U.S. government is working with the Philippines to help address the most binding constraints to growth and development, identified through rigorous analysis as weak governance, constrained public finances, inadequate infrastructure, and weak human resources. Within these broad areas, the U.S. and the Philippines are working together to, among others; improve regulatory quality, rule of law, anti-corruption enforcement, revenue collection and expenditure management, and human capacity development in health and education.

MARKET CHALLENGES Learn about barriers to market entry and local requirements, i.e., things to be aware of when entering the market for this country.

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• U.S.-Philippines bilateral trade has grown by over 44 percent since 2009, amountingto nearly $18.1 billion in 2015.

• The peace process between the Philippine government and the Moro Islamic Liberation Front (MILF), the largest Muslim separatist group in the country, is currently stalled following the failure of Congress to pass legislation to implement a 2014 peace deal. The incoming administration will determine the next steps. For now, both the government and the MILF have agreed to continue to adhere to the ceasefire.

poverty through economic growth. The grant funds three categories of projects focused on road infrastructure, communitylevel infrastructure and social services, and tax administration reform. Project activities are in the final stages of completion as the Compact is due to finish in May 2016 and initial implementation of sustainability plans in coordination with the Government of the Philippines has commenced. In December 2015, MCC’s Board reselected the Philippines as eligible to develop a second Compact program, and initial efforts are underway to identify economic constraints and a potential program of projects which could address the identified constraints.

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• The generally good economic news has been diminished by the relatively modest progress in addressing high unemployment (officially 6.5 percent in 2015) and underemployment (18.5 percent of the employed).

• The Philippine Stock Exchange Index (PSEi) climbed further to new record highs until the second week of April 2015 but, like emerging markets elsewhere, subsequently succumbed to unsettling external news, the specter of higher interest rates, and repositioning of financial assets from emerging markets. The benchmark index closed 2015 down 3.9 percent year-on-year, pausing from six years of consecutive gains, although it began inching up in March 2016 due in part to more dovish interest rate signals from the U.S. Federal Reserve Board. As of March 2016, the PSEi had closed 4.5 percent higher than at the end of 2015 and also mustered a slight increase from the end of 2014.

on a platform of cracking down on crime and illegal drugs, curbing corruption, and shifting the Philippines to a federal system of government. The transition from the Aquino Administration to Duterte Administration will take effect on June 30, 2016 and is expected to be smooth.

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• The Philippines has improved in various competitiveness rankings, including the World Economic Forum’s (WEF) Global Competitiveness Report (September 2015), rising 38 spaces since 2011 to 47th place -- on the fringes of the government’s goal to climb to the top third in the rankings. However, the inadequate state of infrastructure remains a weak spot and investors also continue to cite government red tape, regulatory uncertainties, a slow judicial system, and corruption as challenges to doing business in the country.

• External events notably speculation over the timing and pace of an anticipatedFed funds rate, triggered further volatility in the foreign exchange market. The Philippines peso began weakening in mid-2013 with U.S. QE- tapering signals and developments and averaged 45.50 Philippine pesos (PhP) to the U.S. dollar during 2015, a 2.5 percent depreciation from the 2014 average rate. The peso closed 2015 at 47.06 to the U.S. dollar, almost five percent weaker from the end of 2014 (PhP44.82 per U.S. dollar). Tracking the regional uptrend, the peso has recovered some of its value, trading at stronger than 47 pesos to the U.S. dollar since the second week of March 2016.

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domestic and external shocks, and debt management efforts has been recognized by the “big three” credit rating agencies— Fitch, S&P, and Moody’s - investment grade ratings. S&P and Moody’s currently rate the Philippines’ long-term foreign currency sovereign ratings a notch above minimum investment grade, the highest achieved thus far in the Philippines’ credit-rating history.

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• Tariff/Non-Tariff Barriers and Other Trade Regulations: See Trade Regulations, Customs and Standards.

$395 million

Optical or Medical Instruments

$345 million

Seeds, Grains, Fruits, and Plants

$325 million

Aircraft and Aircraft Parts

$295 million

Dairy Products

$237 million

Plastics

$170 million

Beverages & Spirits

$163 million

Meats

$155 million

Asian Development Bank • The Asian Development Bank, Asia’s premier multilateral development institution, is headquartered in Manila. U.S. firms are advised to explore the lucrative business opportunities that are derived from the US$27 billion that the ADB awards its 45 developing member countries annually. The ADB has a goal of 50 percent private sector participation in ADB-financed projects by 2020.

• Major sectors financed by the ADB include energy, transport, water supply, education, agriculture, and other development-related initiatives. ADB also lends directly to the private sector through its Private Sector Department. U.S. firms are competitive in bidding for ADB projects and have won nearly US$9 billion in ADB contracts since 1966.

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• The Philippines ranks in the top 10 markets in the world for U.S. food and beveragesand continues to be a promising market for U.S. companies in this sector.

$538 million

Food Industry Residues; Animal Feed

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• Best prospects for U.S. companies in the Philippines are infrastructure, energy, (including renewable energy, renewable fuels and smart grid), information and communication technology (ICT), defense, medical, and water resources.

• Other promising sectors include franchising, aviation, and security.

Cereals

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MARKET OPPORTUNITIES Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.

government’s Public-Private Partnership (PPP) program targeting those projects of priority to the government. The Government of the Philippines actively seeks foreign participation to promote economic development of these PPP projects. Some foreign companies have partnered with local groups on large projects. Twelve projects, covering transport, education, water and the medical sector, have been awarded, and several more are in the bidding stage for airports, roads, water, port, prison facility and information technology projects.

$3.3 billion

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• Highly Price-Sensitive Market: U.S. products are generally known as being high quality, but more costly. U.S. exporters should not expect to apply their U.S. pricing strategy in this market. Distributors and customers will request payment terms.

that their Philippine consignee has the proper accreditation to receive imports. In addition, specific products require special licenses and permits prior to shipment. U.S. exporters may contact CS Philippines to determine if their goods require import permits. The Customs Bureau has implemented the National Single Window (NSW) to simplify the formal entry process. See Customs Regulations for additional information.

• Many of these sectors are in the

Electric Machinery

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• Infrastructure: The Philippines lags behind many of its neighbors in infrastructure development. Major improvements are needed in transport infrastructure. While renovation is underway, overcapacity at the Ninoy Aquino International Airport (NAIA), the primary international gateway in the country, presents a significant impediment to development and tourism. Port congestion, especially at the Port of Manila, and customs processing can significantly delay the entry of goods into the country. The Aquino administration has instituted a Public-Private Partnership (PPP) program to address the country’s pressing infrastructure needs.

• Customs: U.S. exporters need to ensure

Top U.S. Export Categories to the Philippines – 2015

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• Value-Added Tax (VAT): The VAT is a 12 percent tax levied on the sale of all goods and services, including the imports of goods into the Philippines. The VAT is an indirect tax which is generally passed on to the buyer/ consumer.

• ICT companies in particular may find opportunities in providing equipment and services to the growing business process outsourcing (BPO) sector, which is growing at a rate of 15 percent a year. U.S. medical technology is widely used in private hospitals in the Philippines. Energy production, conservation and efficiency are top priorities as the country is presently operating on low reserve margins and at high rates, with many remote areas suffering blackouts. Companies in water/wastewater management will also find opportunities in the Philippines.

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• Regulatory System: Product registration, product standards, and environmental and labeling requirements place restrictions on certain products. See Trade Regulations for additional information.

• Philippine Government Procurement: There are significant procurement opportunities with the Philippine Government. However, the governing law for government procurement, Republic Act (RA) 9184, generally requires foreign vendors to work with local representatives, has arduous paperwork requirements, limits advance payment to a maximum of 15 percent, and only allows 90 percent payment upon delivery of goods. The remaining 10 percent is withheld until after the warranty period is completed. See U.S. Selling Products and Services for additional information.

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restricted foreign ownership in selected industries, including utilities and the media. See the Investment Climate Statement for more information on these restrictions. The Government also lists several professions where foreign participation is not allowed.

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• U.S. firms seeking agents or distributors in the Philippines are encouraged to use the services of the U.S. Commercial Service Philippines (CS Philippines). For more information, visit http://export.gov/ philippines and click “Services for U.S. Companies.” U.S. firms may also contact CS Philippines or a local U.S. Export Assistance Center, or send an email to businessphilippines@trade.gov.

The U.S. government’s goal in the Philippines is to partner with the country to become a stable and prosperous nation. The 2011 Partnership for Growth Statement of Principles reinforced a shared interest in promoting inclusive and sustainable economic growth in the Philippines. U.S. assistance to the Philippines fosters broadbased economic growth; improves the health and education of Filipinos; promotes peace and security; advances democratic values, good governance, and human rights; and strengthens regional and global partnerships. Department of State, Department of Defense, and the U.S. Agency for International Development (USAID) programs in conflictaffected areas of Mindanao aim to strengthen the foundation for peace and stability in the area. U.S. assistance, including from the Millennium Challenge Corporation, seeks to intensify cooperation through a whole-ofgovernment approach, using a wide range of assistance and other foreign policy tools. The United States has had a Peace Corps program in the Philippines for over 50 years.   Over the last decade, disaster relief and recovery has also become an increasingly important area of assistance to the Philippines. The United States has provided over $143 million in assistance to date to the people of the Philippines in relief and recovery efforts after Typhoon Haiyan/ Yolanda devastated the country in 2013. The

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• U.S. companies should be patient yet diligent in pursuing contracts, particularly projects with the Philippine Government.

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• It is recommended that U.S. companies visit their agents and distributors to strengthen these relationships and assess the local companies’ abilities. If possible, they should also visit existing and potential clients with their agents and distributors to promote their product lines and/or better understand the clients’ requirements.

in Manila is the largest American military cemetery outside the United States.

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• Government procurement requires a local partner, with certain exceptions. See Section 23.5 - Eligibility Criteria of the Revised Implementing Rules and Regulations of Republic Act No. 9184 or The Government Procurement Act.

U.S.-PHILIPPINES RELATIONS The United States recognized the Philippines as an independent state and established diplomatic relations with it in 1946. Except for the 1942-45 Japanese occupation during World War II, the Philippines had been under U.S. administration since the end of the Spanish-American War in 1898.  The U.S.-Philippine Bilateral Strategic Dialogue advances discussion and cooperation on bilateral, regional, and global issues. U.S.-Philippine relations are based on strong historical and cultural links and a shared commitment to democracy and human rights. The United States has designated the Philippines as a Major NonNATO Ally, and there are close and abiding security ties between the two nations. The Manila Declaration signed in 2011 reaffirmed the 1951 U.S.-Philippines Mutual Defense Treaty as the foundation for a robust, balanced, and responsive security partnership. There is also a focus on economic, commercial, and people-to-people ties. There are an estimated four million U.S. citizens of Philippine ancestry in the United States, and more than 220,000 U.S. citizens in the Philippines, including a large presence of United States veterans. An estimated 650,000 U.S. citizens visit the Philippines each year. Many people-to-people programs exist between the United States and the Philippines, including Fulbright, International Visitor Leadership Program, and the KenneyLugar Youth Exchange and Study program.   Manila is home to the only VA benefits office and healthcare clinic outside the United States, and the American Cemetery

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• Agents and distributors are commonly used in the Philippines and are essential for most U.S. companies. See section on using agents and distributors for more information.

POLITICAL ENVIRONMENT

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MARKET ENTRY STRATEGY Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.

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Thailand, the second largest economy in ASEAN after Indonesia, is an upper middleincome country with an open economy and a gross domestic product (GDP) of $404 billion and 3.2% annual growth in 2016.  Thailand is the 28th largest export destination for the United States. Two-way trade of goods and services in 2016 averaged $40 billion, with $29.5 billion in Thai exports to the U.S. and $10.5 billion in U.S. exports to Thailand.   U.S. exports to Thailand contracted by 6.5%, while U.S. imports from Thailand increased by about 3.1% for the same period in 2015.   Among countries in Asia, Thailand ranks as the United States’ 9th largest export destination after China, Japan, Hong Kong, South Korea, Singapore, Taiwan, India, and

Malaysia.   An export-dependent economy, Thailand exported a total of $215.3 billion worth of goods in 2016. The United States was Thailand’s No. 1 export market (11.2%), followed by China (11.1%) and Japan (9.4%). The top ten export items were machinery (17.4%), electronics appliances (13.9%), vehicles and automotive parts (12.7%), gems and jewelry (6.6%), rubber (5.7 %), plastic (5.3%), mineral fuels (2.9%), meat and seafood (2.8%), medical devices and supplies (2.5%) and cereals (2.1%).   Thailand is one of the world’s most visited countries and tourism is vital to the Thai economy; it contributes approximately 10% of the country’s Gross Domestic Product (GDP). Despite a temporary slowdown and the postponement of economic activities in the 4th quarter, during the period of

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The U.S. Ambassador to the Philippines is Sung Y. Kim; other principal embassy officials are listed in the Department’s Key Officers List.   The Philippines maintains an embassy in the United States at 1600 Massachusetts Avenue NW, Washington, DC 20036 (tel. 202467-9300).

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The Philippines and the United States belong to a many of the same international organizations, including the United Nations, ASEAN Regional Forum, Asia-Pacific Economic Cooperation (APEC) forum, International Monetary Fund, World Bank, and World Trade Organization. The Philippines is also an observer to the Organization of American States. The Philippines serves as chair and host of ASEAN for 2017.

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The United States and the Philippines have a strong trade and investment relationship, with over $25 billion in goods and services traded. The United States is one of the largest foreign investors in the Philippines, and is the Philippines’ third-largest trading partner. The Philippines has been among the largest beneficiaries of the Generalized System of Preferences program for developing countries, which provides preferential dutyfree access to the U.S. market. Key imports from the Philippines are semiconductor devices and computer peripherals, automobile parts, electric machinery, textiles and garments, wheat and animal feeds, coconut oil, and information technology/business process outsourcing services. Key U.S. exports to the Philippines are machinery, cereals, raw and semiprocessed materials for the manufacture of semiconductors, electronics, and transport equipment. The two countries have a bilateral Trade and Investment Framework Agreement, signed in 1989, and a tax treaty.   The Embassy is working to advance several key Environment, Science, Technology, and Health issues. The Philippines is an important partner on climate change and submitted an “intended nationally determined contribution” (INDC) prior to the December 2015 COP 21 meetings in Paris. USAID is providing key technical assistance to help ensure the Philippines’ INDC is meaningful and science-based.

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BILATERAL ECONOMIC RELATIONS

PHILIPPINES’S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

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United States continues to support longterm reconstruction and rebuilding efforts.

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MARKET OPPORTUNITIES Thailand maintains an open, marketoriented economy, and encourages foreign direct investment as a means of promoting economic development, employment, and technology transfer. Thailand continues to be a prominent destination for foreign direct investment, and many U.S. multinational and small- and medium-sized companies alike have invested successfully in the country. Thailand continues to welcome investment

LAOS

rule of law and consumer protection in Thailand, but may leave some businesses at higher risk. This may result in higher insurance premiums, especially for small businesses.   The regulatory environment protecting intellectual property in Thailand is at times difficult to navigate. Patent registration can be a lengthy process, sometimes requiring several years. Patent and trademark infringement is common in Thailand. U.S. companies have successfully protected their intellectual property through litigation in the Thai courts, but these cases can be costly and time-consuming. Counterfeit goods continue to circulate widely in Thailand, contributing to the country’s continued status as a Priority Watch List country in the 2017 Special 301 Report by the Office of the U.S. Trade Representative. While counterfeiting of hard goods such as DVDs, CDs, and apparel remains a problem, recent widespread usage of the Internet and mobile devices in Thailand has resulted in a large increase in online pirated goods such as camcorderrecorded movies and pirated software. More information regarding intellectual property rights challenges in Thailand can be found in Chapter Four under “Protecting your Intellectual Property Rights.”

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also modify the technical requirements. This allows considerable leeway for government agencies and state-owned enterprises to manage procurements, while denying bidders recourse to challenge procedures. There are frequent allegations that the Thai government makes changes to technical requirements for this purpose during the course of procurements. Despite a Thai government commitment to transparency in government procurement, U.S. companies and the Thai media continue to report allegations of irregularities. Thailand is not party to the World Trade Organization Agreement on Government Procurement; it obtained observer status in June 2015   Customs law in Thailand does not fulfill the standards established by The International Convention on the Simplification and Harmonization of Customs Procedures, otherwise known as “the Kyoto Convention.” Major problem areas include Thailand’s Customs Penalty Regime and Customs Valuation Procedures. The penalty for undervaluing imports into Thailand, even if done through negligence or by mistake, can be accompanied by a prison sentence up to ten years. The system is incentivized by the distribution of rewards from these penalty payments to customs officials involved in the investigation of each case. Additionally, the procedure for determining “Customs Value” remains opaque as the valuation methodologies, determined by Ministerial Regulations, are subject to frequent change. Confusion over the guidelines can lead to increased risk of misinterpretation and misapplication of goods valuation methods. U.S. businesses operating in Thailand should be aware that the government recently amended its Civil Procedure Code to include class-action lawsuit provisions. This increases

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MARKET CHALLENGES In May 2014, the Thai military suspended the constitution and took control of the government in a coup d’état. Reforms have been ongoing as a new constitution is drafted, and a constitutional referendum secured approval in August 2016. The current administration announced its intent to hold general elections in 2018 once the constitution is in place. With slightly accelerated growth in 2016, Thailand’s economy has remained stable despite its challenges over the past three years.   Thai industries face intense competition from both global and domestic suppliers

of goods and services. Many domestic companies are family businesses that span generations, and are now led by second- and third-generation businessmen and women who are highly educated and possess deep knowledge of their industries.   Thailand’s mass market is price conscious and generally served by local suppliers and/ or low-priced imports. U.S. exporters with products that are competitive for reasons other than price should work with a local partner to undertake an appropriate market entry strategy.   High tariffs in many sectors remain an impediment to market access. While Thailand’s average applied most favored nation (MFN) rate averaged 10.7 percent in 2014, ad valorem tariffs can be as high as 50 to 80 percent, and the ad valorem equivalent of some specific tariffs (charged mostly on agricultural products) is even higher. About one-third of Thailand’s MFN tariff schedule involves duties of less than 5 percent, and almost 30 percent of tariff lines are MFN duty free, including for products such as chemicals, electronics, industrial machinery, and paper. Thailand has bound all tariffs on agricultural products in the WTO, but only approximately 70 percent of its tariff lines on industrial products. The highest ad valorem tariff rates apply to imports competing with locally produced goods, such as automobiles and automotive parts, motorcycles, beef, pork, poultry, tea, tobacco, flowers, wine, beer and spirits, and textiles and apparel.   Corruption and lack of transparency in government procurements are major concerns for U.S. companies. Where corruption is suspected during the bidding process, government agencies and state enterprises reserve the right to accept or reject any or all bids at any time and may

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mourning after the passing of His Majesty King Bhumibol Adulyadej in October, Thailand recorded 32.58 million tourist arrivals in 2016, an 8.91% increase over 2015. The nine main airports of Thailand served a record 129 million passengers in 2016, an increase of 14.7% over 2015.   In 2016, the Thai economy grew by 3.2%, improving from 2.9% in 2015. Private consumption, public investment, and private investment expanded by 3.1%, 9.9% and 0.4%, respectively. Export growth was null with 0% growth. Meanwhile, the inflation rate was 0.2% and the current account registered a surplus of 11.4% of GDP. The Thai economy is projected to grow by 3-4% in 2017. Thailand’s cabinet approved an infrastructure action plan worth $25.2 billion for 2017. Therefore, government spending on infrastructure will be a major driver of the economy. Risk factors include the economic situations of trading partners, fluctuations of money markets, uncertainty in the international economic policies of the United States, European politics, and international politics.

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The United States partnership with Thailand stretches beyond a bilateral relationship with an impact on the broader region. The partnership spans the areas of public health, trade, science and technology, wildlife trafficking, education, cultural

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U.S. PARTNERSHIP WITH THAILAND

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The United States and Thailand established relations in 1818 and signed a Treaty of Amity and Commerce in 1833, formalizing diplomatic relations. An interim military government has ruled Thailand, a constitutional monarchy, since a May 2014 military coup which deposed an elected civilian government. The United States has urged the restoration of elected civilian government and return to democracy through elections. Thailand is a key U.S. security ally in Asia, and the country’s stability and growth are important to the maintenance of peace in the region. Since World War II, the United States and Thailand have significantly expanded diplomatic, security, and commercial relations.  The United States and Thailand are among the signatories of the 1954 Manila Pact of the former Southeast Asia Treaty Organization (SEATO). Despite the dissolution of the SEATO in 1977, the Manila Pact remains in force and, together with the Thanat-Rusk communiqué of 1962 and the 2012 Joint Vision Statement for the Thai-U.S. Defense Alliance, constitutes the basis of U.S. security commitments to Thailand. In 2003, the United States designated Thailand a Major Non-NATO Ally.

exchange, law enforcement, and security cooperation. Ongoing U.S. support is geared towards strengthening Thai efforts to reform the criminal justice system, promoting good governance through democracy and civil society activities, and investing in people through humanitarian assistance for displaced persons and control and prevention of infectious diseases and emerging pandemic threats. The United States also encourages Thailand’s ongoing active contributions to regional and global security, as well as supports Thailand’s efforts to assist lesser developed countries through the Lower Mekong Initiative (LMI).   Thailand and the United States have longstanding cooperation in international law enforcement efforts. The United States and Thailand work closely together and with the United Nations on a broad range of programs to halt illicit trafficking and other criminal activity. Thailand has received U.S. military equipment, essential supplies, training, and assistance in the construction and improvement of facilities and installations for much of the period since 1950. As part of their mutual defense cooperation, Thailand and the United States have developed a joint military exercise program, which engages all the services of each nation and has averaged 40 joint exercises per year. The United States has scaled back military engagements with Thailand following the May 2014 coup and has urged a return to civilian rule and democracy to forestall further negative impact on the U.S.-Thai security relationship.  The U.S. Agency for International Development (USAID), through its Regional

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U.S.-THAILAND RELATIONS

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MARKET ENTRY STRATEGY Partnering with a local agent or distributor is the most effective way to enter the Thai market and reach potential Thai buyers. The agent or distributor can facilitate and expedite market entry with their extensive market knowledge and established distribution networks and relationships with key business and government officials. The Commercial Section at the U.S. Embassy in Bangkok provides a series of customized business development services to assist U.S. firms planning to enter or grow their presence in the market.

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from all countries and seeks to avoid dependence on any one country as a source of investment.   Thailand’s economic growth has created opportunities for U.S. companies in a number of infrastructure sectors including electrical power, telecommunications, and renewable energy.  Thai consumers are also creating opportunities for new sales for U.S. medical products, automotive accessories, agricultural equipment and chemicals, cosmetics, food supplements, outdoor recreation equipment, franchising and educational services among others. Thailand also continues to look for U.S. suppliers of aerospace and defense equipment, broadcast equipment, food processing, packaging equipment, and environmental technologies.

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THAILAND’S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

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Thailand is a founding member of ASEAN and strongly supports its efforts to promote economic development, social integration, and stability throughout the region. Thailand and the United States belong to a number of the same international organizations, including the United Nations, ASEAN Regional Forum, Asia-Pacific Economic Cooperation forum, International Monetary Fund, World - 173 -

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BILATERAL REPRESENTATION The U.S. Ambassador to Thailand is Glyn Davies; other principal embassy officials are listed in the Department’s Key Officers List. The United States also operates a Consulate General in Chiang Mai.   Thailand maintains an embassy in the United States at 1024 Wisconsin Ave. NW, Washington DC 20007 (tel. 202-944-3600) and Consulates in several other cities.

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The United States is Thailand’s thirdlargest bilateral trading partner, after Japan and China. In 2015, total two-way trade was estimated over $37 billion, of which approximately $13.8 billion is in U.S. exports. American investment in Thailand, concentrated in the petroleum and chemicals, finance, consumer products, and automobile production sectors, is estimated at $11.3 billion in 2015. Leading Thai imports from the United States include machinery, aircraft, gold, optic and medical goods, and agricultural products. Thai exports to the United States include machinery, rubber, prepared meat, shrimp and tuna, jewelry, and other agricultural products. The United States is also one of the largest investors in Thailand, with over $11 billion in foreign

Bank, and World Trade Organization. Thailand also is a Partner for Cooperation with the Organization for Security and Cooperation in Europe and an Organization of American States observer.

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BILATERAL ECONOMIC RELATIONS

direct investment in 2015, concentrated in the petroleum and chemicals, finance, consumer products and automobile production sectors.   The 1966 Treaty of Amity and Economic Relations, the most recent iteration of the 1833 Treaty of Amity and Commerce, facilitates U.S. and Thai companies’ economic access to one another’s markets. The two countries also have agreements addressing sales of agricultural commodities and investment guarantees and reconvened the Joint Council in 2016 under the Trade and Investment Framework Agreement to advance bilateral trade. In 2013, the United States and Thailand signed an historic agreement on science and technology cooperation that enshrines robust protections for intellectual property while facilitating increased joint research programs, government to government collaboration, and private sector investment and technology transfer.   The Thai-U.S. Creative Partnership, active since 2011, builds on existing public-private and intergovernmental relationships, seeking to highlight innovative industry, identify new opportunities for collaborative ingenuity between the two countries, and spur increased productivity.

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Development Mission for Asia in Bangkok, supports regional, transnational, and bilateral programs. These programs include work on the responsible use of natural resources; control and prevention of infectious diseases and emerging pandemic threats; prevention of human and wildlife trafficking; resolution of political conflict and increased citizen participation in political processes; human rights promotion; and support for a more integrated Association of Southeast Asian Nations (ASEAN) community. U.S. Peace Corps Volunteers, active in Thailand continuously since 1963, focus on primary education and youth development. Education Volunteers support English education through teacher collaboration, and community service. Since 2013, Peace Corps Volunteers have also worked to promote life skills and leadership, reproductive health, and civic engagement and volunteering.

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The U.S.-Vietnamese commercial relationship has grown dynamically since the United States

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“We have overcome many difficulties and challenges to turn from foes to friends and now a comprehensive partnership built on a strong foundation. Our economies are fully complementary and with increasing trade come stronger mutual benefits.” Prime Minister Nguyen Xuan Phuc May 30, 2017, New York City

  Over the past 25 years, since economic reforms were initiated in the late 1980s, Vietnam’s annual economic growth rate of 5.3% has been second only to China in Asia. Vietnam has rebounded from the doldrums of the last decade’s global financial crisis as the country has regained its luster as an investment destination and export market. Last year closed with GDP growth of 6.2%, down from the 6.7% growth in 2015, but stronger than regional peers. Vietnam started 2017 with high expectations, as the Asian Development Outlook report forecasts Vietnam’s economy to expand by 6.5% in 2017 and 6.7% in 2018, due to rising activity in the manufacturing, construction, wholesale and retail trade, banking and tourism sectors. This has lead PriceWaterhouse Coopers to predict that: 1) Vietnam will have the strongest average GDP growth till 2050, exceeding

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“"The growth of the middle class and the increasing purchasing power in Vietnam are further incentives to strengthening our longterm trade and investment relationship" Secretary of Commerce Wilbur Ross May 31, 2017, Washington, DC

lifted its trade embargo against Vietnam in 1994 and the two countries renewed diplomatic relations in 1995. The U.S. is now Vietnam’s largest export market and a major source of foreign direct investment, helping fuel Vietnam’s remarkable economic growth. Conversely, over the last two years, Vietnam has become the United States’ fastest growing export market, demonstrating the increasing demand for U.S. technologies and goods. This populous country of over 93 million consumers, with a positive view towards the U.S., exhibits the demographics needed for continuous growth over the next twenty years, and is a rising star among Asia’s bustling economies. U.S. firms, previously slow to take advantage of the growing opportunities that Vietnam presents, are increasingly looking towards this market as a key component to their growth strategies

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MARKET OVERVIEW

• Political stability in a region known for its uncertainty.

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• Extraordinary growth in U.S. exports. Large population of over 93 million consumers.

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• The fastest-growing middle and affluent class in the region, with young consumers who are among the most optimistic in the world providing the right demographics for growth and receptivity to U.S. products and services.

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• Strong GDP growth expected to continue for medium term.

5.1 percent a year; and 2) Vietnam will move from the 32nd largest economy to the 20th by 2050.   This strong economic growth has resulted in a booming and optimistic middle class. In a report titled Vietnam and Myanmar: Southeast Asia’s New Growth Frontiers, the Boston Consulting group states, “by 2020, Vietnam’s middle and affluent class (MAC) population will be two-thirds the size of Thailand’s MAC population.” Per Knight Frank’s The Wealth Report, “the dramatic growth of ultra-high net worth individuals in Asia is set to be reinforced by stellar growth rates in several countries, including Vietnam, which is expected to see its ultra-wealthy population rise by 170% to 540 over the next decade – the highest rate of growth in the world. Millionaire numbers are expected to jump from 14,300 to 38,600 over the same period.” This growth rate exceeds neighboring China and India. This may be why Bloomberg’s 2017 Global Misery Index ranked Vietnam as the 12th happiest economy.   The 2001 U.S.–Vietnam Bilateral Trade Agreement (BTA) transformed the bilateral commercial relationship between our two nations and accelerated Vietnam’s entry into the global economy, with Vietnam joining the WTO in January of 2007. Since the BTA, bilateral trade increased from $2.9 billion in 2002 to over $52 billion in 2016, considerably to the benefit of Vietnam, which held a $31 billion trade surplus with the U.S.   U.S. exports to Vietnam grew by 23.3 percent to $7.1 billion in 2015, and by 43.2% in 2016, resulting in a two-year increase of 77.1%. This was by far the largest increase out of the U.S.’s top 50 export markets, and not just in percentages. Over 2015 and 2016, U.S. exports to Vietnam increased by over $4.4 billion, more than twice that of second place

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in Asia. This Country Commercial Guide is intended to introduce U.S. exporters to doing business in Vietnam and provide the foundation necessary for a firm to take the initial steps needed to pursue business here.   Top 5 reasons why U.S. companies should consider exporting to Vietnam:

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MARKET ENTRY STRATEGY Vietnam is not a market for inexperienced exporters or firms that do not have a wellestablished export department of business development unit. U.S. companies preparing

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MARKET OPPORTUNITIES Continued strong economic growth, ongoing reform and a large population of 93 million —half of which are under the age of thirty — have combined to create a dynamic and quickly evolving commercial environment in Vietnam. Sales of equipment, technologies and consulting and management services associated with growth in Vietnam’s industrial and export sectors and implementation of major infrastructure projects continue to be a major source of commercial activity and interest for U.S. firms. In terms of infrastructure, the Asian Development Bank (ADB) released figures in April 2017 that mark Vietnam’s public and private infrastructure investment as the highest in Southeast Asia, accounting for an average of 5.7 percent of the country’s gross domestic product (GDP).   Per capita GDP was estimated to be $5,370 in 2014 (in 2011 PPP). The government’s recently stated goal is to increase this to at least $18,000 by 2035. With disposable income levels in major urban areas four to five times the national average, significant opportunities in the consumer and services sectors are fast emerging, as evidenced by strong growth in the number of Vietnamese students attending university in the United States, and the growing number of middleclass that are choosing the U.S. as a vacation destination.

  Te l e c o m m u n i c a t i o n s , i n f o r m a t i o n technology, oil and gas exploration, power generation, transportation infrastructure construction, environmental project management and technology, aviation and education will continue to offer the most promising opportunities for U.S. companies over the next few years as infrastructure needs continue to expand with Vietnam’s pursuit of rapid economic development. Health care will also be a growing sector as the government expands programs and an increasingly wealthy population spends more on medical treatment.   The government of Vietnam (GVN) plays a significant role in the economy, with stateowned enterprises (SOEs) making up 35 percent of GDP. The GVN strategy to “equitize” (partially privatize) SOEs in all sectors of the economy is slowly moving forward. While the GVN will maintain majority ownership in the largest and most sensitive sectors of the economy, which includes energy, telecommunications, aviation and banking, the equitization process could present opportunities for U.S. companies.   Key U.S. agricultural inputs to production such as hardwood lumber, cotton, hides, skins and feed ingredients will also continue to play a key role in helping fuel Vietnam’s export led manufacturing strategy, as noted earlier, and are responsible for U.S. agricultural products accounting for nearly half of total exports to Vietnam. Demand continues to also grow for consumption oriented products such as meat, dairy and fresh and dried fruits.

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2015. Of note, the World Bank reported that Vietnam is working to make it easier to trade across borders, and introduced or improved electronic submission and processing of documents for imports. Lack of financial transparency and poor corporate disclosure standards add to the challenges U.S. companies face in performing due diligence on potential partners and clients.

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MARKET CHALLENGES The evolving nature of regulatory regimes and commercial law in Vietnam, combined with overlapping jurisdiction among government ministries, often results in a lack of transparency, uniformity and consistency in government policies and decisions on commercial projects. Project timelines often exceed initial projections, especially when financed using official development assistance.  While Vietnam’s anti-corruption law is considered amongst the best legal frameworks in Asia for anti-corruption, implementation remains problematic. Corruption and administrative red tape within the government has been a vast challenge for governmental consistency and productivity and for foreign companies doing business in Vietnam. Vietnam

ranked 113 (out of 176) on Transparency International’s 2016 Corruption Perceptions Index, placing it low in a region infamous for its levels of corruption. As comparison, regional neighbors scored – Philippines and Thailand tied at 101, Indonesia 90, China 79, and Malaysia 55). 55 percent of respondents felt that public officials and civil servants were corrupt or extremely corrupt.   Many firms operating in Vietnam, both foreign and domestic, found ineffective protection of intellectual property to be a significant challenge. Piracy rates for software were estimated to be 78 percent in 2015, a small improvement from 92 percent ten years earlier, but a signaling a steady but slow decline.  “Tied” official development assistance (ODA), in addition to corruption, continues to be a significant challenge for U.S. firms bidding on infrastructure projects. Some companies have successfully partnered with Japanese companies to be eligible to bid on Japanese ODA funded projects, which represents the largest source of foreign ODA.   While Vietnam has reduced tariffs on many products in line with its WTO commitments, high tariffs on selected products remain. The U.S. industry has identified a range of products, which includes agricultural products, processed foods and nutritional supplements, which has significant export growth potential if Vietnam’s tariffs could be reduced further.   Investors often run into poorly developed infrastructure, high start-up costs, arcane land acquisition and transfer regulations and procedures, and a shortage of skilled personnel. Vietnam ranked 82nd (of 190) in the World Bank’s Ease of Doing Business report released in October 2016. This is an improvement from its ranking of 91st in

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Ireland, which saw an increase in U.S. exports of only $1.7 billion.  U.S. export of agricultural products account for nearly half of total exports to Vietnam, and the country jumped from the 11th highest value destination for U.S. agriculture exports in the world to 8th in just one year (2015 – 2016). Industrial inputs continued to see steady growth as Vietnam continues to import machinery, chemicals, instruments and software to support its growing industrial sector.   As a December 2016 Harvard Business Review article noted, Vietnam is one of the “frontier economies” forecast to grow the fastest over the next five years. Such economies are “characterized by politically manipulated markets, weak legal systems, and low per capita income,” but are increasingly becoming targeted by multinationals seeking double-digit growth.

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U.S. relations with Vietnam have become increasingly cooperative and comprehensive, guided by the 2013 U.S.-Vietnam Comprehensive Partnership, an overarching framework for advancing the bilateral relationship, the 2015 bilateral Joint Vision Statement, and the Joint Statement issued during President Obama’s visit to Vietnam in May 2016. This partnership advances key initiatives to bolster U.S.-Vietnam relations and underscores the enduring U.S. commitment to the Asia-Pacific rebalance. The partnership provides a mechanism to facilitate cooperation in areas including political and diplomatic relations, trade and economic ties, science and technology, education and training, environment and health, humanitarian assistance/ disaster relief, war legacy issues, defense and security, protection and promotion of human rights, people-to-people ties, and culture, sports, and tourism. The United States supports Vietnam’s law enforcement professionalization, regional cross-border cooperation, and implementation of international conventions and standards. Vietnam is a partner in nonproliferation regimes, including the Global Initiative to Combat Nuclear Terrorism, and takes advantage of expertise, equipment, and training available under the Export Control and Related Border Security program. In 2016, the United States and Vietnam signed a letter of agreement to increase cooperation on law enforcement and the justice sector. The United States and Vietnam hold regular dialogues on labor and human rights, and the two sides are embarking on a significant

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U.S.-VIETNAM RELATIONS The United States established diplomatic relations with Vietnam in 1950, following its limited independence within the French Union; France continued to oversee Vietnam's defense and foreign policy. In 1954, Vietnamese nationalists fighting for full independence defeated France, and the nowdivided Vietnam entered into two decades of civil war. The United States did not recognize North Vietnam's government, maintaining the U.S. Embassy in South Vietnam, supporting the South against the North, and entering the war on the South's side. In 1975, the United States closed its Embassy and evacuated all Embassy personnel just prior to South Vietnam's surrender to North Vietnamese forces.   Vietnam was reunified under communist rule. In 1978, it invaded Cambodia following border clashes. U.S. policy held that normalization of its relations with Vietnam be based on withdrawal of the Vietnamese military from Cambodia as part of a comprehensive political settlement and on continued cooperation on prisoner of war/ missing in action (POW/MIA) issues and other humanitarian concerns. In 1995, the United States announced the formal normalization of diplomatic relations with Vietnam. In 2015 the United States and Vietnam marked the 20th anniversary of diplomatic relations, and in May 2016, President Obama visited Vietnam to celebrate the Comprehensive Partnership between the two countries.   The United States supports a strong, independent, and prosperous Vietnam that respects human rights and the rule of law.

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to enter the Vietnamese market must plan strategically and be persistent and consistent with face-to-face follow-up. It can take up to one or two years to make a successful sale into this market. Building relationships is important.   For the most part, U.S. companies entering the Vietnamese market will need to consider two marketing efforts; one for targeting the northern part of the country, which has a higher concentration of government ministries and regulatory agencies, and one for the south, which is the dominant industry hub. The two markets also differ in terms of consumer behavior and preferences.   To enter or expand in Vietnam, U.S. businesses may do so indirectly through the appointment of an agent or distributor. U.S. companies new to Vietnam should conduct sufficient due diligence on potential local agents/distributors to ensure they possess the requisite permits, facilities, manpower and capital. Firms seeking a direct presence in Vietnam should establish a commercial operation utilizing the following options: first, a representative office license; second, a branch license; and lastly, a foreign investment project license under Vietnam's revised Foreign Investment Law.   Vietnam deployed about $5.6 billion in ODA disbursement in 2014, increasing nine percent year-on-year. Sectors prioritized for ODA funding are primarily in infrastructure construction and modernization and human resource development. U.S. companies doing business in transportation, telecommunications, energy, environmental/ water, civil aviation, financial services and other infrastructure sectors are advised to develop core strategies and capabilities for bidding on ODA (World Bank, Asian Development Bank, USAID) projects.

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BILATERAL REPRESENTATION The U.S. Ambassador to Vietnam is Ted Osius. He was confirmed by Congress on November 17, 2014 and presented his credentials to President Sang on December 16, 2014. Other principal embassy officials are listed in the Department's Key Officers List.   Vietnam maintains an embassy in the United States at 1233 20th Street, NW, #400, Washington DC 20036 (tel. 202-861-0737).

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Vietnam and the United States belong to a number of the same international organizations, including the United Nations, ASEAN Regional Forum, AsiaPacific Economic Cooperation (APEC) forum, International Monetary Fund, World Bank, and World Trade Organization. Vietnam is hosting APEC in 2017.

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VIETNAM'S MEMBERSHIP IN INTERNATIONAL ORGANIZATIONS

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U.S. ASSISTANCE TO VIETNAM In the 1980s, Vietnam introduced market reforms, opened the country for foreign investment, and improved the business climate. It became one of the fastestgrowing economies in the world. Vietnam's rapid economic transformation and global integration has lifted millions out of poverty and has propelled the country to the ranks of lower-middle-income status. U.S. assistance

in Vietnam focuses on consolidating gains to ensure sustainable economic development while promoting good governance and the rule of law. Assistance projects aim to deepen regulatory reforms, improve the capacity and independence of Vietnam's judicial and legislative bodies, and promote more effective public participation in the law and regulation-making processes. Starting in 2016, the U.S. started investing significant resources in assisting the Government of Vietnam bring its laws and practices into compliance with international labor standards, create the legal framework and institutions to allow the registration of independent trade unions, and train labor inspectors, law enforcement officials, and the judiciary to effectively enforce labor laws and uphold workers’ rights. U.S. assistance also seeks to support Vietnam's response to climate change and other environmental challenges, including remediating Agent Orange/dioxin contamination, strengthening the country’s health and education systems, and assisting vulnerable populations. The United States and Vietnam successfully concluded the first phase of dioxin remediation at Danang International Airport and has committed to partnering with Vietnam to make a significant contribution to the clean-up of dioxin contamination at Bien Hoa Air Base. Both sides also pledged to take a number of practical actions to advance climate mitigation and adaptation, as well as enhance transparency and capacity building through the U.S.-Vietnam Climate Partnership, including in the Mekong River Delta. The United States has invested over $44 million since 2011 to help mitigate the impacts of climate change in Vietnam, one of most vulnerable countries in the world to its effects.

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and humanitarian assistance and disaster relief. Many of these topics are discussed in annual bilateral defense discussions. In May 2016, the United States fully lifted its ban on the sale of lethal weapons to Vietnam and continued to provide Vietnam with maritime security assistance – including through the Maritime Security Initiative, the Cooperative Threat Reduction program, and Foreign Military Financing. Also in 2016, the United States and Vietnam signed a letter of intent to establish a working group for the Cooperative Humanitarian and Medical Storage Initiative, which will advance cooperation on humanitarian assistance and disaster relief. The United States reaffirmed its support for Vietnam’s peacekeeping efforts with an aim of assisting Vietnam’s first deployment of UN peacekeeping forces by 2017. U.S.-Vietnam people-to-people ties have flourished. Over 21,000 Vietnamese now study in the United States. The new Fulbright University Vietnam (FUV), which opens in Ho Chi Minh City later this year, will help bring world-class, independent education to Vietnam. Over 13,000 Vietnamese are members of the Young Southeast Asia Leaders Initiative. The United States and Vietnam signed a Peace Corps country agreement during the President’s May 2016 visit.

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initiative to bring Vietnam’s laws and practices into compliance with international labor standards and allow independent trade unions to organize.   The United States considers achieving the fullest possible accounting of Americans missing and unaccounted for in Indochina to be one of its highest priorities with Vietnam. The Joint POW/MIA Accounting Command conducts four major investigation and recovery periods a year in Vietnam, during which specially trained U.S. military and civilian personnel investigate and excavate hundreds of cases in pursuit of the fullest possible accounting. Vietnameseled recovery teams have become regular participants in these recovery missions since August 2011.   Vietnam remains heavily contaminated by explosive remnants of war, primarily in the form of unexploded ordnance (UXO) including extensive contamination by cluster munitions dating from the war with the United States. The United States is the largest single donor to UXO/mine action in Vietnam, and the two countries signed a memorandum of understanding on continued unexploded ordnance cooperation in December 2013. U.S. efforts to address legacy issues such as UXO/demining, MIA accounting, and Agent Orange (a defoliant used by U.S. forces) provided the foundations for the U.S.-Vietnam defense relationship. The United States and Vietnam are committed to strengthen defense cooperation between the two countries as outlined in the Memorandum of Understanding on Advancing Bilateral Defense Cooperation in 2011 and the U.S.Vietnam Joint Vision Statement on Defense Relations signed in 2015, giving priority to humanitarian cooperation, war legacy issues, maritime security, peacekeeping,

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U.S. PORTS AND STATES REPRESENTED IN SINGAPORE

AMERICAN COMMUNITIES ORGANIZATION IN SINGAPORE

Georgia Port Authority

American Association of Singapore (AAS)

186 Pandan Loop, Singapore 128376 Tel: +65-6395-4907, +65-6309-3420 (Direct Line) Fax: +65-6379-5102 Mobile: +65-9662-0758 Email: Peter.Sak@wilhelmsen.com Website: www.wilhelmsen.com Contact Person: Mr. Peter Sak, Maritime Logistics Manager

Port of Long Beach

20 Harbour Drive, #05-03 PSA Vista, Singapore 117612 Tel: +65-6836-6776 Fax: +65-6733-0768 Email: Mike.Jr@collyer.biz Website: www.collyer.biz Contact Person: Mr. Michael Jr. Ong, Director

State of Missouri – Singapore Trade & Investment Office

137 Market Street #16-01, Singapore 048943 Tel: +65-6922-0560 Mobile: +65-9185-6932 Email: Missouri-Singaporeoffice@apcoworldwide.com Website: www.ExportMissouri.mo.gov Contact Person: Amanda Douglas, Director

Orissa International is the Authorized Trade Consultant in South East Asia for: Commonwealth of Pennsylvania Virginia Economic Development Partnership/Virginia Department of Agriculture Iowa Economic Development Authority Ohio Development Services Agency Wisconsin Economic Development Corporation Global Delaware

Orissa International Pte Ltd 1003 Bukit Merah Central, #05-06 Inno Center Singapore 159836 Tel: +65 6225 8667 Fax: +65 6271 9791 Email: skmenon@orissa-international.com Website: www.orissa-international.com / www. growyourbusiness.org Contact Person: Mr. Sarath Menon, Director

15 Scotts Road #03-02, Thong Teck Building Singapore 228218 Tel: +65-6738-0371 Fax: +65-6738-3648 Email: admin@aasingapore.com Website: http://www.aasingapore.com/

15 Scotts Road, Thong Teck Building #09-04 Singapore 228218 Tel: +65-6733-9249 Fax: +65-6733-9321 Email: admin@sacac.sg Website: http://www.sacac.sg/

American Association of Singapore – Career Resource Center of Expatriates (CRCE)

Singapore American Newspaper (SAN) 15 Scotts Road, Thong Teck Building #03-02 Singapore 228218 Tel: +65-6734-0371 Fax: +65-6738-3648 Email: communications@aasingapore.com Website: http://www.aasingapore.com/singapore-american-newspaper/

15 Scotts Road, Thong Teck Building #03-02 Singapore 228218 Tel: +65-6738-0371 Fax: +65-6738-3648 Email: crce.info@aasingapore.com Website: http://www.aasingapore.com/about-crce/

American Women’s Association (AWA)

The American Chamber of Commerce in Singapore (AmCham Singapore)

15 Scotts Road, Thong Teck Building #03-01 Singapore 228218 Tel: +65-6734-4895 Fax: +65-6733-6190 Email: office@awasingapore.org Website: http://www.awasingapore.org/

State of Utah – Southeast Asia Office

The American Club

30 Raffles Place 23-00 Chevron House Singapore 048622 Mobile: +65-8100-8977 Email: vbbsdiam@gmail.com vbbs@engsinglee.com Contact: V. B. Balrai Singh, Honorary Trade & Investment Representative

10 Claymore Hill, Singapore 229573 Tel: +65-6737-3411 Fax: +65-6732-8308 Email: info@amclub.org.sg Website: http://www.amclub.org.sg/

1 Scotts Road, Shaw Centre, #23-03/04/05 Singapore 228208 Tel: +65-6597-5730 Fax: +65-6732-5917 Email: contact@amcham.org.sg Website: http://www.amcham.org.sg/

U.S. – ASEAN Business Council Inc.

EducationUSA Singapore Advising Center Stamford American International School (SAIS) 1 Woodleigh Lane, Singapore 357684 Tel: +65-6709-4838 Email: singapore@educationusa.info Website: http://educationusa.state.gov/

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Singapore American Community Action Council (SACAC)

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100 Beach Road #22-04/05, Shaw Tower, Singapore 189702 Tel: +65-6339-8885 Fax: +65-6339-1982 Email: mmichalak@usasean.org Website: https://www.usasean.org/countries/singapore/


U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION

U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION

Street Address: American Embassy US Commercial Service 110 University Ave Kamayut Township Rangoon, Burma

Street Address: American Consulate General Guangzhou US Commercial Service No.43 Hua Jiu Road, Zhujian New Town Guangzhou, 510623 China

Australia

U.S. Mailing Address: 4250 Rangoon Place Department Of State Washington, DC 20521-4250

U.S. Mailing Address: American Consulate General Guangzhou US Commercial Service Department of State 4090 Guangzhou Place Washington, DC 20521-4090

China

U.S. Commercial Service – Shanghai

U.S. Commercial Service – Canberra U.S. Commercial Service - Canberra Tel: +61-2-6195-5005 Email: Office.Australia@trade.gov Commercial Specialist - Dr. Doug Hartley Street Address: American Embassy Attn: U.S. Commercial Service Moonah Place Yarralumla ACT 2600 Australia U.S. Mailing Address: U.S. Department of State Attn: U.S. Commercial Service 7800 Canberra Place Washington DC 20521-7800

U.S. Commercial Service – Perth

Tel: +61-8-6144-5149 Email: Office.Australia@trade.gov Commerce Specialist - Ms. Donna Carter Street Address: American Consulate General US Commercial Service Level 4, 16 St. Georges Terrace Perth WA 6000 Australia U.S. Mailing Address: American Consulate General US Commercial Service 4160 Perth Pl Dulles VA 20189-4160

U.S. Commercial Service – Sydney

Tel: +61-2-9373-9205 Fax: +61-2-9221-0573 Email: Office.Australia@trade.gov Deputy Senior Commercial Officer – Mr. Douglas Wallace

Street Address: American Consulate General US Commercial Service Level 59, MLC Centre 19-29 Martin Place Sydney NSW 2000 U.S. Mailing Address: American Consulate General US Commercial Service 4150 Sydney Pl Washington DC 20521-4150

U.S. Commercial Service - Beijing

Tel: +86-10-8531-3000 Fax: +86-10-8531-4343 Email: Office.Beijing@trade.gov Senior Commercial Officer - Ms. Cynthia Griffin

Tel: +86-21-6279-7630 Fax: +86-21-6279-7639 Email: Office.Shanghai@trade.gov Principal Commercial Officer - Mr. Cameron Werker

Street Address: U.S. Commercial Service – Beijing No. 55 An Jia Lou Road, Chaoyang District Beijing 100600, China

Street Address: Shanghai Center Suite 631, East Tower 1376 Nanjing Xi Lu Shanghai, China 200040

Tel: +673-238-4616 ext 2172 Fax: +673-238-4604 Email: BSBCommercial@state.gov Political, Economic, and Consular Chief Mr. Fausto P. DeGuzman

U.S. Mailing Address: American Embassy Beijing – FCS Unit 7300 Box 0475 DPO AP 96521

U.S. Commercial Service - Shenyang

Street Address: Simpang 336-52-16-9 Jalan Duta BC4115 Negara Brunei Darussalam

Tel: +86-28-8558-3992 Fax: +86-28-8558-9221 Email: Office.Chengdu@trade.gov Commercial Officer - Mr. Francis ‘Chip’ Peters

http://www.export.gov/australia

Brunei American Embassy, Bandar Seri Begawan

Postal Address: P.O. Box 2991 Bandar Seri Begawan BS8675 Negara Brunei Darussalam U.S. Mailing Address: Embassy of United States of America Unit 4280, Box 40 DPO, AP 96507-0040

Burma U.S. Commercial Service - Rangoon

Tel: +95-1-536-509 ext 4435 Fax: +95-1-511-069 Email: John.Fleming@trade.gov Senior Commercial Officer - Mr. John Fleming

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Tel: +86-24-2322-1198 Fax: +86-24-2322-2206 Email: Office.Shengyang@trade.gov Principal Commercial Officer - Mr. Taylor Moore

U.S. Commercial Service - Chengdu

Street Address: 52 Shi Si Wei Road, Heping District Shenyang, 110003 U.S. Mailing Address: Foreign Commercial Service 4110 Shenyang Place, Washington DC 20521-4110

Street Address: No. 4, Lingshiguan Road Section 4, Renmin Nan Lu Chengdu, China 610041

U.S. Commercial Service - Wuhan

U.S. Mailing Address: Foreign Commercial Service 4080 Chengdu Place Washington DC. 20521-4080

Tel: +86-27-8555-7791 Fax: +86-27-8555-7761 Email: Jing.Wang@trade.gov Commercial Specialist – Mr. Wellington Chu

U.S. Commercial Service - Guangzhou

Tel: +86-20-3814-5000 Fax: +86-20-3814-5353 Email: Office.Guangzhou@trade.gov Principal Commercial Officer - Ms. Elizabeth Shieh

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Street Address: U.S. Commercial Service – Wuhan 47F New World International Trade Tower I No. 568, Jianshe Avenue Hankou, Wuhan, 430022, China


U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION U.S. Mailing Address: American Consulate General Wuhan - FCS 7250 Wuhan Pl Washington DC, 20521-7250 http://www.export.gov/china

Hong Kong U.S. Commercial Service- Hong Kong Tel: +852-2521-1467 Fax: +852-2845-9800 Email: Office.HongKong@trade.gov Senior Commercial Officer - Mr. James Cunningham Street Address: American Consulate General U.S. Commercial Service 26 Garden Road Central Hong Kong U.S. Mailing Address: Foreign Commercial Service 8000 Hong Kong Place Department of State Washington D.C. 20521-8000

Street Address: J.W. Marriott Hotel, 9th Floor 24/1, Vittal Mallya Road, Ashok Nagar Bengaluru 560 001, India

U.S. Commercial Service – Chennai

Tel: +91-44-2857-4477 Fax: +91-44-2857-4212 Email: Office.Chennai@trade.gov Principal Commercial Officer - Mr. James Fluker Street Address: 220 Anna Salai Chennai 600 006, India U.S. Mailing Address: Department of State 6260 Chennai PL Washington, DC 20521-6260

U.S. Commercial Service – Hyderabad Tel: +91-40-2330-5000; 91-40-2330-4025 Fax: +91-40-2330-0130 Email: Office.Hyderabad@trade.gov Commercial Assistant - Ms. Annette D'silva

http://www.export.gov/hongkong

Street Address: # 152, Hotel Taj Deccan, Banjara Hills Hyderabad - 500 034, India

India

U.S. Mailing Address: U.S. Department of State (Hyderabad) 6230 Hyderabad PL Washington, DC 20521-6230

U.S. Commercial Service - Ahmedabad

Tel: +91-79-2656-5210 Fax: +91-79-2656-0763 Email: Office.Ahmedabad@trade.gov Commercial Specialist - Ms. Sangeeta Taneja Street Address: 5th Floor, Radisson Blu Hotel, Panchvati Cross Road Off. C G Road, Ambawadi - 380 006 U.S. Mailing Address: US Department of State (Ahmedabad) 6240 Mumbai Place Washington DC 20521-6240

U.S. Commercial Service – Bangaluru

Tel: +91-80-2220-6401 Fax: +91-80-2220-6405 Email: Office.Bengaluru@trade.gov Senior Commercial Specialist - Ms. Manjushree Phookan

U.S. Commercial Service – Kolkata

Tel: +91-33-3984-6402 Fax: +91-33-3984-6353 Email: Office.Kolkata@trade.gov Principal Commercial Officer - Mr. Jonathan Ward Street Address: The American Center 38-A, Jawaharlal Nehru Road Kolkata (Calcutta) 700 071, India U.S. Mailing Address: Department of State (Kolkata) 6250 Kolkata PL Washington, DC 20189-6250

U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION

Japan

Street Address: US Commercial Service American Consulate General C-49, G-Block, Bandra Kurla Complex (BKC) Bandra (E), Mumbai - 400 051, India

U.S. Commercial Service – Tokyo

Tel: +81-3-3224-5060 Fax: +81-3-3589-4235 Email: Office.Tokyo@trade.gov Senior Commercial Officer - Mr. Keith Kirkham

U.S. Mailing Address: Department of State (Mumbai) 6240 Mumbai PL Washington DC 20521-6240

Street Address: American Embassy U.S. Commercial Service 1-10-5 Akasaka, Minato-ku Tokyo 107-8420

U.S. Commercial Service - New Delhi

Tel: +91-11-2347-2000 Fax: +91-11-2331-5172 Email: Office.Newdelhi@trade.gov Senior Commercial Officer - Mr. Patrick Santillo

U.S. Mailing Address: CS Tokyo U.S. Commercial Service UNIT 9800 BOX 486 DPO AP 96303-0486

Street Address: The American Center 24 Kasturba Gandhi Marg New Delhi 110 001, India

U.S. Commercial Service - Osaka-Kobe

Tel: +81-6-6315-5957 Fax: +81-6-6315-5963 Email: Office.Osaka-Kobe@trade.gov Principal Commercial Officer - Ms. Helen Hwang

U.S. Mailing Address: The U.S. Commercial Service Department of State 9000 New Delhi Place Washington, DC 20521-9000

Street Address: American Consulate General US Commercial Service 2-11-5 Nishitenma, Kita-Ku Osaka 530-8543

http://www.export.gov/india

Indonesia U.S. Commercial Service – Jakarta

Tel: +62-21-526-2850 Fax: +62-21-526-2855 Email: Office.Jakarta@trade.gov Senior Commercial Officer - Ms. Rosemary Gallant Street Address: American Embassy US Commercial Service World Trade Center VI, 3rd Floor Jl. Jendral Sudirman Kav. 29-31 Jakarta 12920

http://www.export.gov/japan

Korea (South) U.S. Commercial Service – Seoul

Tel: +822-397-4535 Fax: +822-739-1628 Email: Office.Seoul@trade.gov Senior Commercial Officer - Mr. David Gossack

U.S. Mailing Address: American Embassy Jakarta Unit 8129 FCS FPO AP 96520-8129

Street Address: American Embassy U.S. Commercial Service 188, Sejong-daero, Jongno-gu Seoul 03141

http://www.export.gov/indonesia

U.S. Commercial Service – Mumbai

Tel: +91-22-2672-4000 Fax: +91-22-2672-4400 Email: Office.Mumbai@trade.gov Principal Commercial Officer - Mr. Gregory Taevs

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U.S. Mailing Address: US Consulate, Osaka-Kobe US Commercial Service Unit 9800 Box 355 DPO AP 96303-0355

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U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION U.S. Mailing Address: American Embassy U.S. Commercial Service Unit 9600 DPO AP 96209-9997

Street Address: U.S. Commercial Service American Embassy 29 Fitzherbert Terrace Thorndon, Wellington

http://www.export.gov/southkorea

U.S. Mailing Address: American Embassy Wellington Attention: Janet Coulthart Unit 4360, Box 6000 DPO, AP 96532-6000

Malaysia U.S. Commercial Service - Kuala Lumpur Tel: +60-3-2168-5000 Fax: +60-3-2142-1866 Email: Office.KualaLumpur@trade.gov Senior Commercial Officer - Ms. Catherine Spillman

http://www.export.gov/newzealand

Street Address: US Embassy Kuala Lumpur US Commercial Service 376 Jalan Tun Razak 50400 Kuala Lumpur

Tel: (92 51) 208-0000 Fax: (92 51) 233-8114 Email: Ayanali.khan@trade.gov Commercial Specialist - Mr. Ayan Ali Khan

U.S. Mailing Address: US Embassy Kuala Lumpur US Commercial Service 376 Jalan Tun Razak 50400 Kuala Lumpur, Malaysia http://www.export.gov/malaysia

New Zealand U.S. Commercial Service – Auckland Tel: +649-309-8079 Fax: +649-302-3156 Email: Dhiraj.Mani@trade.gov Commercial Specialist - Mr. Dhiraj Mani Street Address: Citibank Building 23 Customs Street East Level 3 Auckland U.S. Mailing Address: American Consulate General/Auckland Attn: Dhiraj Mani Unit 4370, Box 7000 DPO, AP 96532-7000

U.S. Commercial Service – Wellington

Tel: +644-462-6002 Fax: +644-473-0770 Email: Janet.Coulthart@trade.gov Commercial Specialist - Ms. Janet Coulthart

Pakistan U.S. Commercial Service – Islamabad

Street Address: U.S. Commercial Service Embassy of the United States of America 1201 Roxas Boulevard Manila 0930, Philippines U.S. Mailing Address: U.S. Commercial Service Unit 8600, Box 1565 DPO, AP 96515-1565 http://export.gov/philippines

U.S. Commercial Service – Lahore

50, Empress Road Lahore, Pakistan Tel: (92 42) 3603-4000 Fax: (92 42) 3603-4229 Hasan.raza@trade.gov Commercial Specialist - Mr. Hassan Raza

U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION U.S. Mailing Address: Department of State 4170 AIT Taipei Place Washington, DC 20521-4170

Philippines U.S. Commercial Service – Manila

Tel: +632-301- 4249 Fax: +632-521-0416 Email: Office.Manila@trade.gov Senior Commercial Officer – Ms. Diane Jones

U.S. Commercial Service – Kaohsiung

Tel: +886-7-335-5006 Fax: +886-7-338-0551 Email: Office.Kaohsiung@trade.gov Principal Commercial Officer – Ms. Sarah Fox

Street Address: U.S. Commercial Service Embassy of the United States of America 1201 Roxas Boulevard Manila 0930, Philippines

Street Address: 5F. No 88, Chenggong 2nd Rd. Qianzhen Dist. Kaohsiung 806 Taiwan

U.S. Mailing Address: U.S. Commercial Service Unit 8600, Box 1565 DPO, AP 96515-1565

U.S. Mailing Address: Department of State 4170 AIT Taipei Place Washington, DC 20521-4170

http://export.gov/philippines

http://www.export.gov/taiwan

Singapore U.S. Commercial Service – Singapore

Thailand

Tel: +65-6476-9037 Fax: +65-6476-9080 Email: Office.Singapore@trade.gov Regional Senior Commercial Officer - ASEAN Ms. Margaret Hanson-Muse

U.S. Commercial Service – Bangkok

Tel: +66-2-205-5090 Fax: +66-2-255-2915 Email: Office.Bangkok@trade.gov Senior Commercial Officer - Mr. Gregory Wong

Street Address: American Embassy U.S. Commercial Service 27 Napier Road Singapore 258508

Street Address: American Embassy US Commercial Service GPF Witthayu, Tower A, Suite 302 93/1 Wireless Road, Pathumwan, Bangkok 10330

U.S. Mailing Address: Department of State U.S. Commercial Service Unit 4280 Singapore Place Washington DC 20521-4280

U.S. Mailing Address: US Commercial Service FCS Box 51 APO AP 96546

http://export.gov/singapore

http://www.export.gov/thailand

U.S. Commercial Service – Karachi

3,4,5 New TPX Area Mai Kolachi Road Karachi, Pakistan Tel: (92 21) 3527-5000 Fax: (92 21) 3561-2413 Email: Steve.knode@trade.gov Senior Commercial Officer - Mr. Stephen P. Knode

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Taiwan U.S. Commercial Service – Taipei

Vietnam

Tel: +886-2-2720-1550 Fax: +886-2-2757-7162 Email: Office.Taipei@trade.gov Senior Commercial Officer - Ms. Ireas Cook

U.S. Commercial Service – Hanoi

Tel: +84-4-3850-5199 Fax: +84-4-3850-5064 Email: Office.Hanoi@trade.gov Senior Commercial Officer - Mr. Stuart Schaag

Street Address: American Institute in Taiwan Suite 3207, 32nd Floor 333 Keelung Road Section 1 Taipei 110 Taiwan

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U.S. COMMERCIAL SERVICE OFFICES IN THE ASIA PACIFIC REGION

U.S. DEPARTMENT OF COMMERCE U.S. & FOREIGN COMMERCIAL SERVICE EXPORT ASSISTANCE CENTER DIRECTORY

Street Address: American Embassy US Commercial Service Rose Garden Tower 170 Ngoc Khanh Street Hanoi, Vietnam U.S. Mailing Address: U.S. Commercial Service 4550 Hanoi Place Washington, DC 20521-4550

U.S. Commercial Service - Ho Chi Minh City

AK – Anchorage

Tel: +84-8-3520-4680 Fax: +84-8-3520-4679 / 81 Email: Office.HoChiMinhCity@trade.gov Principal Commercial Officer - Mr. Douglas Jacobson

AZ – Tucson

Ms. Debbie Franklin, USEAC Director 907-271-6237 Alaska U.S. Export Assistance Center 222 West 7th Avenue, Suite 524 P.O. Box 38 Anchorage, AK 99513 Debra.Franklin@Trade.gov http://www.export.gov/alaska/

Street Address: U.S. Consulate General U.S. Commercial Service Diamond Plaza, 8F 34 Le Duan Street, District 1 Ho Chi Minh City Vietnam

Ms. Christina Parisi, International Trade Specialist 520-670-5540 Tucson U.S. Export Assistance Center 300 West Congress Street, Suite 7N1 Tucson, AZ 85701 Christina.Parisi@trade.gov http://www.export.gov/arizona/

CA – Bakersfield & Fresno

AL – Birmingham

U.S. Mailing Address: U.S. Commercial Service 7160 Ho Chi Minh City Place Washington, DC 20521-7160 http://www.export.gov/vietnam

Mr. Robert Stackpole, USEAC Director 205-731-1331, Fax: 205-731-0076 Birmingham U.S. Export Assistance Center 950 22nd Street North, Suite 773 Birmingham, AL 35203-5309 Robert.Stackpole@trade.gov http://www.export.gov/alabama/

Mr. Glen Roberts, USEAC Director 559-348-9859 Fresno U.S. Export Assistance Center 801 R Street, Suite 201 Fresno, CA 93721 Glen.Roberts@trade.gov http://export.gov/california/fresno/ http://export.gov/california/kern/

AR – Little Rock

CA – Inland Empire

Mr. Fred Latuperissa, USEAC Director 909-390-8429, Fax: 909-390-5315 3110 East Guasti Road, Suite 465 Ontario, California 91761 Fred.Latuperissa@trade.gov http://www.export.gov/california/ie/

Mr. James Aardappel, USEAC Director 501-324-5797, Fax: 501-324-7380 Little Rock U.S. Export Assistance Center 425 West Capitol Avenue, Suite 425 Little Rock, AR 72201 James.Aardappel@trade.gov http://www.export.gov/arkansas/

CA – Irvine

AZ – Phoenix

Mr. Jim Mayfield, Office Director 949-660-1424, Fax: 949-660-1338 2302 Martin Court, Suite 315 Irvine, CA 92612 Jim.Mayfield@trade.gov http://export.gov/california/irvine/

Mr. Fernando Jimenez Sr. International Trade Specialist 602-640-2513 Phoenix U.S. Export Assistance Center 2828 N Central Avenue, Suite 800 Phoenix, AZ 85004 Fernando.Jimenez@trade.gov http://www.export.gov/arizona/

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U.S. DEPARTMENT OF COMMERCE

CA – Los Angeles (Downtown)

Mr. Rachid Sayouty, USEAC Director 213-894-8784, Fax: 213-894-8789 Los Angeles (Downtown) U.S. Export Assistance Center 444 South Flower Street, 37th Floor Los Angeles, CA 90071 Rachid.Sayouty@trade.gov http://export.gov/california/losangelesdowntown/

CA – Los Angeles (West)

Ms. Julieanne Hennessy, USEAC Director 310-235-7104, Fax: 310-235-7220 Los Angeles (West) U.S. Export Assistance Center 11500 Olympic Blvd., Suite 601 Los Angeles, CA 90064 JulieAnne.Hennessy@trade.gov http://www.export.gov/california/losangeleswest/

CA – Monterey Bay

Monterey U.S. Export Assistance Center 411 Pacific Street, Suite 316A Monterey, CA 93940 The Monterey service area is being covered by the CA San Jose (Silicon Valley) USEAC http://www.export.gov/california/monterey

CA – North Bay

U.S. & FOREIGN COMMERCIAL SERVICE EXPORT ASSISTANCE CENTER DIRECTORY

CA – San Diego

CT – Middletown

GA – Atlanta

CA – San Francisco

FL – Clearwater

GA – Savannah

CA – San Jose (Silicon Valley)

FL – Fort Lauderdale

HI – Honolulu

Mr. Matthew Andersen, USEAC Director 858-467-7033, Fax: 858-467-7043 San Diego U.S. Export Assistance Center 9449 Balboa Avenue, Suite 111 San Diego, CA 92123 Matt.Andersen@trade.gov http://www.export.gov/california/sandiego/

Mr. Stephan Crawford, USEAC Director 415-705-2300, Fax: 415-705-2299 San Francisco U.S. Export Assistance Center 75 Hawthorne, Suite 260 San Francisco, CA 94105-3920 Stephan.Crawford@trade.gov http://www.export.gov/california/sanfrancisco/

Ms. Joanne Vliet, USEAC Director 408-535-2757, Fax: 408-535-2758 San Jose (Silicon Valley) U.S. Export Assistance Center 55 South Market Street, Suite 1040 San Jose, CA 95113 Joanne.Vliet@trade.gov http://www.export.gov/california/sanjose

Ms. Elizabeth Krauth, USEAC Director 415-485-6209, Fax: 415-485-6219 North Bay U.S. Export Assistance Center at Dominican University of California 50 Acacia Avenue San Rafael, CA 94901 Elizabeth.Krauth@trade.gov http://export.gov/california/northbay

CA – Ventura County

CA – Oakland

CO – Denver

Mr. Rod Hirsch, USEAC Director 510-273-7350, Fax: 510-273-7352 Oakland U.S. Export Assistance Center 1301 Clay St., Suite 630N Oakland, CA 94612 Rod.Hirsch@trade.gov http://www.export.gov/California/Oakland

Mr. Gerald Vaughn, USEAC Director 805-488-4844, Fax: 805-488-7801 Ventura County U.S. Export Assistance Center 333 Ponoma Street Port Hueneme, CA 93041 Gerald.Vaughn@trade.gov http://www.export.gov/california/ventura/

Mr. Paul Bergman, USEAC Director 303-844-6623, Fax: 303-844-5651 Denver U.S. Export Assistance Center 1999 Broadway, Suite 2205 Denver, CO 80202 Paul.Bergman@trade.gov http://www.export.gov/colorado/

Ms. Anne Evans, USEAC Director 860-638-6950, Fax: 860-638-6970 Middletown U.S. Export Assistance Center 213 Court St., Suite 903 Middletown, CT 06457-3382 Anne.Evans@trade.gov http://www.export.gov/connecticut/

Mr. George Tracy, USEAC Director 404-815-1498, Fax: 404-347-0002 Atlanta U.S. Export Assistance Center 75 Fifth Street, NW, Suite 1060 Atlanta, GA 30308 George.Tracy@trade.gov http://www.export.gov/georgia/

Ms. Sandra Campbell, Director 727-893-3738, Fax: 727-893-3839 Tampa Bay U.S. Export Assistance Center 13805 58th Street North, Suite 1-200 Clearwater, FL 33760 Sandra.Campbell@trade.gov http://export.gov/florida/

Mr. Todd Gerken, USEAC Director 912-652-4204, Fax: 912-652-4675 Savannah U.S. Export Assistance Center 111 East Liberty Street, Suite 202 Savannah, GA 31401 Todd.Gerken@trade.gov http://www.export.gov/georgia/

Mr. Eduardo Torres, USEAC Director 954-356-6640, Fax: 954-356-6644 Fort Lauderdale U.S. Export Assistance Center 1850 Eller Drive, Suite 401 Fort Lauderdale, FL 33316 Eduardo.Torres@trade.gov http://www.export.gov/florida/

Mr. John Holman, USEAC Director 808-522-8040, Fax: 808-522-8045 Hawaii U.S. Export Assistance Center Foreign Trade Zone #9 521 Ala Moana Blvd., Room 214 Honolulu, HI 96813 John.Holman@trade.gov http://www.export.gov/hawaii/

FL – Jacksonville & Tallahassee

IA – Des Moines

Mr. Jorge Arce, Office Director 904-232-1270, Fax: 904-232-1271 Jacksonville U.S. Export Assistance Center 3 Independent Drive Jacksonville, FL 32202 Jorge.Arce@trade.gov http://www.export.gov/florida

Mrs. Patricia Cook, Office Director 515-284-4590, Fax: 515-284-4232 US Commercial Service Iowa Federal Building, Room 749 210 Walnut Street, Des Moines, IA 50309 Patricia.Cook@trade.gov http://www.export.gov/iowa/

FL – Miami

Mr. Eduardo Torres, Director south Florida 305-526-7425, Fax: 305-526-7434 Miami U.S. Export Assistance Center 5835 Blue Lagoon Drive, Suite 203 Miami, FL 33126 Eduardo.Torres@trade.gov http://www.export.gov/florida

ID – Boise

Ms. Amy Benson, Office Director 208-364-7791, Fax: 208-334-2631 Boise U.S. Export Assistance Center 700 W. State Street, 2nd Floor Boise, ID 83720 Amy.Benson@trade.gov http://www.export.gov/idaho/

FL – Orlando

CA – Sacramento

Mr. Kenneth Mouradian, USEAC Director 407-420-4848, ext. 260, Fax: 407-420-4425 Orlando U.S. Export Assistance Center 3201 East Colonial Drive, Suite A-20 Orlando, FL 32803 Kenneth.Mouradian@trade.gov http://www.export.gov/florida

Mr. George Tastard, USEAC Director 916-566-7170, Fax: 916-566-7123 Sacramento U.S. Commercial Service 1410 Ethan Way, Ste. 131 N Sacramento, CA 95825 George.Tastard@trade.gov http://www.export.gov/california/sacramento/

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IL – Chicago

Mr. Hovan Asdourian, Office Director 312-886-8094, Fax: 312-353-8120 233 North Michigan Avenue, Suite 260 Chicago, IL 60601 Houvan.Asdourian@trade.gov http://www.export.gov/illinois/

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U.S. DEPARTMENT OF COMMERCE

IL – Peoria

Mrs. Elizabeth Ahern, Director 309-671-7815 Peoria U.S. Export Assistance Center 1501 West Bradley Avenue, 141 Jobst Hall Peoria, IL 61625 http://www.export.gov/illinois/

IL – Rockford

Mr. Patrick Hope, USEAC Director 815-316-2380, Fax: 888-628-2571 Rockford Illinois U.S. Export Assistance Center 327 South Church Street, Suite 1600 Rockford, IL 61101 Patrick.Hope@trade.gov http://www.export.gov/illinois/

IN – Indianapolis

Mr. Mark Cooper, Office Director 317-582-2300, Fax: 317-582-2301 Indianapolis U.S. Export Assistance Center 11405 N. Pennsylvania Street, Suite 106 Carmel, IN 46032 Mark.Cooper@trade.gov http://www.export.gov/indiana/

KS – Wichita

Mr. Andrew Anderson, USEAC Director 316-263-4067, Fax: 316-462-5506 Wichita U.S. Export Assistance Center 300 W Douglas Avenue, Suite 850 Wichita, KS 67202 Andrew.Anderson@trade.gov http://www.export.gov/kansas

KY – Lexington

Ms. Sara Moreno, USEAC Director 859-225-7001 Lexington U.S. Export Assistance Center 301 East Main Street, Suite 110 Lexington, KY 40507-1553 Sara.Moreno@trade.gov http://www.export.gov/kentucky/

KY – Louisville

Ms. Margaret (Peggy) Pauley, USEAC Director 502-582-5066, Fax: 502-582-6573 Louisville U.S. Export Assistance Center 601 W. Broadway, Room 634B Louisville, KY 40202 Peggy.Pauley@trade.gov http://www.export.gov/kentucky/

U.S. & FOREIGN COMMERCIAL SERVICE EXPORT ASSISTANCE CENTER DIRECTORY

LA – New Orleans

Ms. Erin Butler, USEAC Director 504-589-6530, Fax: 504-589-2337 Suite 419, U.S. Custom House 423 Canal Street, Suite 419 New Orleans, LA 70130 Erin.Butler@trade.gov http://www.export.gov/louisiana

MA – Boston

Mr. James Paul, USEAC Director 617-565-4301, Fax: 617-565-4313 Boston U.S. Export Assistance Center 55 New Sudbury Street, Suite 1826A Boston, MA 02203 JPaul@trade.gov http://www.export.gov/Massachusetts/

MD – Baltimore

Mrs. Carla Menendez, Commercial Officer 410-962-4539, Fax: 410-962-4529 Baltimore U.S. Export Assistance Center 300 West Pratt Street, Suite 300 Baltimore, MD 21201 Carla.Menendez@trade.gov http://www.export.gov/maryland/

ME – Portland ME

Mr. Jeffrey Porter, USEAC Director 207-780-3756, Fax: 207-780-3761 Maine U.S. Export Assistance Center 312 Fore Street Portland, Maine 04101 Jeffrey.Porter@trade.gov http://www.export.gov/maine

MI – Detroit

Ms. Sara Coulter, USEAC Director 313-226-3006, Fax: 313-226-3073 Detroit U.S. Export Assistance Center 211 W. Fort Street, Suite 1310 Detroit, MI 48226 Sara.Coulter@trade.gov http://www.export.gov/michigan

MI – Grand Rapids

Ms. Kendra Kuo, USEAC Director 616-458-3564, Fax: 616-458-3872 Grand Rapids U.S. Export Assistance Center 50 Front Ave. SW, Suite 1119 Grand Rapids, MI 49504 Kendra.Kuo@trade.gov http://www.export.gov/michigan

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MI – Pontiac (East Michigan)

NC – Charlotte

Mr. Richard Corson, USEAC Director 248-975-9600, Fax: 248-975-9606 East Michigan U.S. Export Assistance Center 1200 N Telegraph Rd Administrative Annex 1, Building 47 West Pontiac, MI 48341 Richard.Corson@trade.gov http://www.export.gov/michigan/

Mr. Greg Sizemore, USEAC Director 704-333-4886, Fax: 704-332-2681 Charlotte U.S. Export Assistance Center 521 E. Morehead Street, Suite 435 Charlotte, NC 28202 Greg.Sizemore@trade.gov http://www.export.gov/northcarolina/

NC – Greensboro

MN – Minneapolis

Ms. Stephanie Heckel, Director 336-333-5345, Fax: 336-333-5158 330 S. Greene Street, Suite 303 Greensboro, NC 27401 Stephanie.Heckel@trade.gov http://www.export.gov/northcarolina

Mr. Ryan Kanne, USEAC Director 612-348-1638, Fax: 612-348-1650 Minneapolis U.S. Export Assistance Center 330 2nd Avenue South, Suite 410 Minneapolis, MN 55401 Ryan.Kanne@trade.gov http://www.export.gov/minnesota/

NC – Raleigh

Mrs. Frances Selema, Senior International Trade Specialist 919-281-2750, Fax: 919-281-2754 Raleigh US Export Assistance Center 10900 World Trade Blvd., Suite 110 Raleigh, NC 27617 Frances.Selema@trade.gov http://www.export.gov/northcarolina/

MO – Kansas City

Ms. Nyamusi Igambi, Director 816-421-1876, Fax: 816-471-7839 U.S. Commercial Service- Kansas City 1000 Walnut Street, Suite 500 Kansas City, MO 64106 Nyamusi.Igambi@trade.gov http://www.export.gov/missouri/kansascity/

ND – Fargo

MO – St. Louis

Mr. Cory Simek, USEAC Director 314-260-3780, Fax: 314-260-3792 U.S. Dept. of Commerce/ITA 4300 Goodfellow Blvd., Bldg. 110 Suite 1100A St. Louis, MO 63120 Cory.Simek@trade.gov http://www.export.gov/missouri/st.louis/

Ms. Heather Ranck, Director 701-239-5080, Fax: 701-540-0262 NDSU Agribusiness and Applied Economics Department at Barry Hall 811 Second Avenue North Suite 436 Fargo, ND 58102 Heather.Ranck@trade.gov http://www.export.gov/northdakota

MS – Jackson

NE – Omaha

Ms. Carol Moore, USEAC Director 601-373-0773, Fax: 601-373-0959 Mississippi U.S. Export Assistance Center 1230 Raymond Road, Box 600 Jackson, MS 39204 Carol.Moore@trade.gov http://www.export.gov/mississippi/

Ms. Meredith Bond, USEAC Director 402-346-6947, Fax: 402-939-0121 111 South 18th Plaza, Room C-52 Omaha, NE 68102-1321 Meredith.Bond@trade.gov http://www.export.gov/nebraska/

MT – Montana

Mr. Carey Hester, International Trade Specialist 406-370-0097, Fax: 503-326-6351 Montana U.S. Export Assistance Center 10 West 15th Street, Suite 1100 Helena, MT 59626 Carey.Hester@trade.gov http://www.export.gov/montana/ - 195 -


U.S. DEPARTMENT OF COMMERCE

NH – New Hampshire

Mr. Justin Oslowski, USEAC Director 603-953-0212, Fax: 603-610-2418 Thomas J. McIntyre Federal Building 80 Daniel Street, Room 104 Portsmouth, New Hampshire 03801 Mailing Address: P.O. Box 120, Portsmouth, NH 03802 Justin.Oslowski@trade.gov http://www.export.gov/newhampshire

NJ - Central-Southern New Jersey

Ms. Debora Sykes , Director 6098962734,Fax: 6098964249 Central-Southern NJ U.S. Export Assistant Center (formerly Trenton USEAC) 997 Lenox Drive, Suite 111 Lawrenceville, NJ 08648 Debora.Skyes@trade.gov http://www.export.gov/newjersey

NJ – Northern New Jersey

Ms. Susan Widmer, Director 973-645-4682, Fax: 973-645-4783 Northern New Jersey U.S. Export Assistance Center 20 Washington Place, Suite 615 Newark, NJ 07102 Susan.Widmer@trade.gov http://www.export.gov/newjersey

NV – Las Vegas

Mr. Andrew Edlefsen, USEAC Director 702-388-6694, Fax: 702-388-6469 Las Vegas U.S. Export Assistance Center 300 S. Fourth Street, Suite 400 Las Vegas, Nevada 89101 Andrew.Edlefsen@trade.gov http://www.export.gov/nevada/

NV – Reno

Mr. Janis Kalnins, Director 775-301-0037, Fax: 775-784-5343 Reno U.S. Export Assistance Center 704 W Nye Ln # 201 Carson City, NV 89703 Janis.Kalnins@trade.gov http://www.export.gov/nevada/reno/

U.S. & FOREIGN COMMERCIAL SERVICE EXPORT ASSISTANCE CENTER DIRECTORY

NY – Buffalo

OH – Cincinnati

NY – Harlem

OH – Cleveland

Ms. Rosanna Masucci, Director 716-551-4191, Fax: 716-551-5290 Buffalo U.S. Export Assistance Center 130 S. Elmwood Avenue, Suite 530 Buffalo, NY 14202 Rosanna.Masucci@trade.gov http://www.export.gov/newyork/bflorochsyr/

Ms. KL Fredericks, USEAC Director 212-860-6200, Fax: 212-860-6203 Harlem U.S. Export Assistance Center 163 W. 125th Street, Suite 901 New York, NY 10027 KL.Fredericks@trade.gov http://www.export.gov/newyork/harlem/

NY – Long Island

Ms. Susan Sadocha, Director 516-427-9117 U.S. Commercial Service Long Island POB 423 Old Westbury, NY 11568-0423 Susan.Sadocha@trade.gov www.export.gov/newyork/longisland/

NY – New York

Ms. Carmela Mammas, USEAC Director 212-809-2675, Fax: 212-809-2687 New York U.S. Export Assistance Center 290 Broadway, Suite 1312 New York, NY 10007 Carmela.Mammas@trade.gov www.export.gov/newyork/

NY – Rochester

Mr. Timothy J. McCall, Director 585-399-7065, Fax: 585-423-7570 Rochester U.S. Export Assistance Center 400 Andrews Street, Suite 300 Rochester, NY 14604 Timothy.Mccall@trade.gov http://www.export.gov/newyork/bflorochsyr

NY – Westchester

Ms. Joan Kanlian, USEAC Director 914-682-6712, Fax: 914-682-6698 Westchester U.S. Export Assistance Center 707 Westchester Avenue, Suite 209 White Plains, NY 10604 Joan.Kanlian@trade.gov http://export.gov/newyork/westchester/

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PA – Philadelphia

Ms. Marcia Brandstadt, USEAC Director 513-684-2944, Fax: 513-684-3227 Cincinnati U.S. Export Assistance Center 36 E. 7th Street, Suite 2650 Cincinnati, OH 45202 Marcia.Brandstadt@trade.gov http://www.export.gov/ohio/southernohio/

Mr. Antonio Ceballos, USEAC Director 215-597-7141, Fax: 215-597-6123 U.S. Commercial Service, Philadelphia One Penn Center 1617 John F. Kennedy Blvd. Suite 1580 Philadelphia, PA 19103-1815 Antonio.Ceballos@trade.gov http://www.export.gov/pennsylvania/ philadelphia/

Ms. Susan Whitney, Office Director 216-522-4750, Fax: 216-522-2235 Cleveland U.S. Export Assistance Center Howard M. Metzenbaum U.S. Courthouse 201 Superior Avenue East, Suite 424 Cleveland, OH 44114 Susan.Whitney@trade.gov http://export.gov/ohio/northernohio/

PA – Pittsburgh

Ms. Lyn Doverspike, USEAC Director 412-644-2800, Fax: 412-644-2803 U.S. Commercial Service William S. Moorhead Federal Building 1000 Liberty Avenue, Suite 807 Pittsburgh, PA 15222 Lyn.Doverspike@trade.gov http://www.export.gov/pennsylvania/pittsburgh

OH – Columbus

614-365-9510, Fax: 614-365-9598 Columbus U.S. Export Assistance Center 401 N. Front St., #200 Columbus, OH 43215 http://export.gov/ohio/centralohio/

PR – San Juan

Mr. José Burgos, USEAC Director 787-775-1992,1974, Fax: 787-781-7178 San Juan (Guaynabo) U.S. Export Assistance Center Centro Internacional de Mercadeo, Torre II, Street 165, Suite 702 Guaynabo, PR 00968-8058 Jose.Burgos@trade.gov http://export.gov/puertorico/

OK – Oklahoma City

Mr. Marcus Verner, USEAC Director 405-608-5302, Fax: 405-608-4211 Oklahoma City U.S. Export Assistance Center 301 NW 63rd Street, Suite 420 Oklahoma City, OK 73116 Marcus.Verner@trade.gov http://www.export.gov/oklahoma/

RI – Providence

Mr. Keith Yatsuhashi, USEAC Director 401-528-5104, Fax: 401-528-5067 Providence U.S. Export Assistance Center 315 Iron Horse Way, Suite 101 Providence, RI 02908 Keith.Yatsuhashi@trade.gov http://www.export.gov/rhodeisland/

OK – Tulsa

Mr. Marcus Verner, USEAC Director 918-581-7650, Fax: 918-581-6263 Tulsa U.S. Export Assistance Center 700 N. Greenwood Avenue, Suite 1400 Tulsa, OK 74106 Marcus.Verner@trade.gov http://www.export.gov/oklahoma

SC – Charleston SC

Mr. Phil Minard, Manager 843-746-3404, Fax: 843-529-0305 Charleston, SC U.S. Export Assistance Center 1362 McMillan Avenue, Suite 100 North Charleston, SC 29405 Phil.Minard@trade.gov http://www.export.gov/southcarolina/

OR – Portland OR

Mr. Scott Goddin, USEAC Director 503-326-3001, Fax: 503-326-6351 Portland, OR U.S. Export Assistance Center One World Trade Center 121 SW Salmon Street, Suite 242 Portland, OR 97204 Scott.Goddin@trade.gov http://export.gov/oregon/

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U.S. DEPARTMENT OF COMMERCE

U.S. & FOREIGN COMMERCIAL SERVICE EXPORT ASSISTANCE CENTER DIRECTORY

SC – Columbia

TN – Nashville

UT – Salt Lake City

WI – Milwaukee

SC – Greenville

TX – Austin

VA – Northern VA

WV – Charleston WV

TX – El Paso

VA – Richmond

WV – Wheeling

Ms. Dorette Coetsee, Director 803-255-2623, Fax: 803-777-2615 Columbia U.S. Export Assistance Center 1301 Gervais Street, Suite 1100 Columbia, SC 29201 Dorette.Coetsee@trade.gov http://www.export.gov/southcarolina/

Mr. Denis Csizmadia, USEAC Director 864-250-8429, Fax: 864-250-6729 Greenville U.S. Export Assistance Center Buck Mickel Center at Greenville Technical College 216 S. Pleasantburg Drive, Suite 243 Greenville, SC 29607 Denis.Csizmadia@trade.gov http://www.export.gov/southcarolina/

SD – Sioux Falls

Ms. Cinnamon King, USEAC Director 605-330-4265, Fax: 605-330-4266 Sioux Falls U.S. Export Assistance Center 2001 S. Summit Ave Augustana College / Madsen Center Sioux Falls, SD 57197 Cinnamon.King@trade.gov http://www.export.gov/southdakota/

TN – Knoxville

Mr. Robert Leach, USEAC Director 865-545-4637, Fax: 865-545-4435 Knoxville U.S. Export Assistance Center 17 Market Square, #201 Knoxville, TN 37902-1405 Robert.Leach@trade.gov http://www.export.gov/tennessee/

TN – Memphis

Mr. Dylan Daniels, International Trade Specialist 901-308-3579, Fax: 901-543-3510 Memphis U.S. Export Assistance Center 22 North Front Street, Suite 200 Memphis, TN 38103 Dylan.Daniels@trade.gov http://export.gov/tennessee/memphis/

Ms. Brie Knox, Director 615-736-2222, Fax: 615-736-2226 Nashville U.S. Export Assistance Center 801 Broadway, Suite C372 Nashville, Tennessee 37203 Brie.Knox@trade.gov http://export.gov/tennessee/nashville/

Ms. Karen Parker, USEAC Director 512-916-5939, Fax: 512-916-5940 221 E. 11th Street, 4th Floor Austin, TX 78701 (Call for appointment) Karen.Parker@trade.gov http://www.export.gov/texas/austin/

Mr. Robert Queen, USEAC Director 915-929-6971, Fax: 915-858-8827 El Paso World Trade Center 9570 Pan American Drive El Paso, TX 79927 Robert.Queen@trade.gov http://www.export.gov/texas/elpaso/

TX – Houston

Mr. David Fiscus, USEAC Director 801-524-3070, Fax: 801-524-3072 Salt Lake City U.S. Export Assistance Center 350 S. Main Street, Suite 462 Salt Lake City, UT 84101 David.Fiscus@trade.gov http://www.export.gov/utah/

Mr. William Fanjoy, USEAC Director 703-235-0100 Northern VA U.S. Export Assistance Center 1501 Wilson Blvd., Suite 1225 Arlington, Virginia 22209 William.Fanjoy@trade.gov http://www.export.gov/virginia

VT – Montpelier

Mrs. Susan Murray, USEAC Director 802-828-4508, Fax: 802-828-3258 Montpelier U.S. Export Assistance Center PO Box 605 87 State Street, Room 205 Montpelier, VT 05601 Susan.Murray@trade.gov http://www.export.gov/vermont/

TX – Dallas-Fort Worth

WA – Seattle & Tacoma

TX – San Antonio/South Texas

WA – Spokane

Mr. Daniel Rodriguez, USEAC Director 210-472-4020, Fax: 210-472-4019 San Antonio U.S. Export Assistance Center 615 E. Houston Street, Suite 207 San Antonio, TX 78205 Daniel.Rodriguez@trade.gov http://www.export.gov/texas/sanantonio

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Ms. Leslie Drake, USEAC Director 304-347-5123, Fax: 304-347-5408 Charleston, WV U.S. Export Assistance Center 1116 Smith Street, Suite 314 Charleston, WV 25301 Leslie.Drake@trade.gov http://www.export.gov/westvirginia/

Mr. Joshua Kaplan, International Trade Specialist 804-461-9324 400 N. 8th Street, Suite 1028 Richmond, VA 23219 Joshua.Kaplan@trade.gov www.export.gov/virginia/

Mr. Richard Ryan, Director 281-228-5650, Fax: 281-228-5663 Houston U.S. Export Assistance Center 1919 Smith Street, Suite 1026 Houston, TX 77002 Richard.Ryan@trade.gov http://www.export.gov/texas/houston/

Ms. Jessica Gordon, Director 817-684-5353, Fax: 817-684-5345 Dallas-Fort Worth Export Assistance Center 4300 Amon Carter Boulevard, Suite 114 Fort Worth, Texas 76155 Jessica.Gordon@trade.gov http://www.export.gov/texas/fortworth/

Mr. Damian Felton, Director 414-297-3457, Fax: 414-297-3470 Wisconsin U.S. Export Assistance Center 517 E. Wisconsin Avenue Milwaukee, WI 53202 Damian.Felton@trade.gov www.export.gov/wisconsin

Ms. Diane Mooney, USEAC Director 206-553-5615, Fax: 206-553-7253 Seattle U.S. Export Assistance Center 2001 6th Avenue, Suite 2610 Seattle, WA 98121 Diane.Mooney@trade.gov http://export.gov/Washington/seattle/

Ms. Janet Bauermeister, USEAC Director 509-344-9398, Fax: 503-326-6351 Spokane U.S. Export Assistance Center Greater Spokane Incorporated 801 W. Riverside Avenue, Suite 100 Spokane, WA 99201 Janet.Bauermeister@trade.gov http://www.export.gov/washington/spokane

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Mr. Diego Gattesco, USEAC Director, Senior International Trade Specialist 304-243-5493, Fax: 304-243-5494 Wheeling U.S. Export Assistance Center Wheeling Jesuit University NTTC Building, Room 134 316 Washington Ave Wheeling, WV 26003 Diego.Gattesco@trade.gov http://www.export.gov/westvirginia/


ADVOCACY | INSIGHTS | CONNECTIONS

THE AMERICAN CHAMBER OF COMMERCE IN SINGAPORE

A Platform for Global Business Leaders

AMCHAM IS THE LARGEST FOREIGN BUSINESS CHAMBER IN SINGAPORE, REPRESENTING

ADVOCACY窶ポ窶オNSIGHTS窶ポ窶イONNECTIONS

700 LEADING CORPORATIONS TO PROVIDE BUSINESS CRITICAL INSIGHTS, SUSTAINED POLICY ADVOCACY, AND OPPORTUNITIES TO CONNECT WITH BUSINESS AND GOVERNMENT LEADERS.

MEMBERS

5,000

AmCham is the largest foreign chamber in Singapore with 700 member companies covering MNCs and SMEs.

COMMITTEES

13

Facilitating knowledge sharing through business insights, discussion of current industry trends, & advocacy.

EVENTS YEARLY

250+

Hosting Singapore and American government officials, senior business leaders, and industry experts.

To find out more about our membership contact us at joinus@amcham.org.sg or visit www.amcham.org.sg. Follow us on @AmChamSG #AmChamSG

www.amcham.org.sg

www.amcham.org.sg - 201 -


GIVE YOUR CHILD UNPARALLELED

OPPORTUNITY: You want your child to be equipped with the tools they need to choose their learning pathway after school, and excel in their selected career after that. So do we. Providing leading education at Stamford American, we believe there’s no better way to achieve this than to offer your child unparalleled choice and academic rigour combining American Education Reaches Out (AERO) standards with the International Baccalaureate (IB) Curriculum and the College Board’s Advanced Placement (AP) courses. We’re the only international school in Singapore to offer the best of both worlds as a pathway for children 18 months to 18 years.

International Baccalaureate

US AERO Standards

AP Courses College Board

ACCEPTING APPLICATIONS NOW Stamford American offers an outstanding education for students from 18 months to 18 years. International Baccalaureate (IB) Programme enhanced by rigorous American standards with a holistic heart – to equip your child with academic and social skills to take into the real world.

sais.edu.sg/curriculum +65 6653 7907 admissions@sais.edu.sg

21/2/2016 – 20/2/2020

Stamford American International School CPE Registration Number: 200823594D Period of Registration: August 10, 2014 to August 9, 2018

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Profile for Amcham_IT

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