ASEAN conducts survey to boost direct investment<\/p>\n
JAKARTA (JP): The secretariat of the Association of Southeast
\nAsian Nations (ASEAN) is conducting a survey on the promotion of
\ndirect foreign investment into and throughout the region.<\/p>\n
The secretariat said in a statement here yesterday that the
\naim of the study is to determine how investors assess ASEAN's
\ninvestment environment.<\/p>\n
It said the secretariat had mailed questionnaires to 7,500
\nfirms, both international and ASEAN-based companies. The
\nquestionnaires will probe issues such as whether ASEAN is
\nregarded as an investment region in its own right, what motivates
\ninvestors to invest in the region and what effect regional
\nschemes, such as the Common Effective Preferential Tariffs and
\nthe ASEAN Free Trade Area (AFTA), have on foreign investment
\ndecisions.<\/p>\n
The survey, expected to be completed by the end of this year,
\nwill contain policy recommendations on ways and means to promote
\nand further enhance ASEAN's competitiveness for attracting
\ngreater foreign investment.<\/p>\n
The importance of direct foreign investment in ASEAN is clear.
\nAccording to statistics, ASEAN members are among the top 15
\nrecipients of direct foreign investment flows to the developing
\nworld, and together accounted for more than 60 percent of foreign
\ninvestment flows to developing Asia between 1980 and 1993.<\/p>\n
ASEAN -- grouping Brunei, Indonesia, Malaysia, the
\nPhilippines, Singapore, Thailand and Vietnam -- collectively
\nhosts a direct foreign investment stock approaching US$200
\nbillion. Last year, foreign investment flows to the region
\nincreased by 131 percent to $39.5 billion from $17.1 billion in
\n1993.<\/p>\n
Indonesia alone booked a record of $92.38 billion of foreign
\ninvestment approvals from 1967 to 1994. Last year, Indonesia
\napproved a total of $23.7 billion for foreign investment
\nprojects, almost three times the approved amount in 1993. For the
\nfirst seven months of this year, foreign investment approvals in
\nthe country reached a new record high of $29.4 billion.<\/p>\n
\"These statistics indicate the confidence placed by investors
\non the competitiveness and attractiveness of ASEAN as their
\nproduction base,\" the Jakarta-based ASEAN secretariat said.<\/p>\n
It added that the ASEAN region attracts a lot of direct
\nforeign investment because it offers many congenial investment
\nfactors, such as political stability, prudent macro economic
\npolicies, high rates of return on investment, efficient operating
\nenvironment, availability of human and natural resources, pro-
\nbusiness and pro-private sector development policies and a
\nsizable integrated regional market.<\/p>\n
The secretariat also said that it was in the process of
\nestablishing a comprehensive database of ASEAN and foreign
\ninvestors in the region. The purpose of the database, which will
\nbe published in a number of forms, including CD-ROM and
\ndirectories, is to help facilitate and foster greater trade,
\nbusiness and investment linkages in the region.<\/p>\n
Together with the respective ASEAN members' investment
\nagencies, the secretariat is working on a series of publications
\non the investment environment and opportunities in the region.
\nThese publication will include Biennial Review of Investment
\nEnvironment and Opportunities in ASEAN, ASEAN Investment Profile,
\nInvesting in ASEAN: Facts and Figures and Compendium of
\nInvestment and Business Office Documentation Used in ASEAN\/AFTA.<\/p>\n
The secretariat said it would also organize two high-level
\nmeetings, an experts seminar on the promotion of direct foreign
\ninvestment in ASEAN in the context of AFTA and a roundtable on
\nthe promotion of ASEAN to international and indigenous ASEAN
\ninvestors, scheduled for later this year. (rid)<\/p>",
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