{
    "success": true,
    "data": {
        "id": 1552434,
        "msgid": "asean-draws-up-investment-plan-1447893297",
        "date": "1997-07-05 00:00:00",
        "title": "ASEAN draws up investment plan",
        "author": null,
        "source": "AFP",
        "tags": null,
        "topic": null,
        "summary": "ASEAN draws up investment plan MANILA (AFP): The Association of Southeast Asian Nations (ASEAN) has agreed to complete a framework by 1998 for the creation of an ASEAN Investment Area to lure region-wide investors, it was announced here yesterday. The agreement was reached at a meeting of the heads of investment agencies of the ASEAN nations, held in the Philippines this week, said Melito Salazar, director of the Philippine Board of Investments.",
        "content": "<p>ASEAN draws up investment plan<\/p>\n<p>MANILA (AFP): The Association of Southeast Asian Nations<br>\n(ASEAN) has agreed to complete a framework by 1998 for the<br>\ncreation of an ASEAN Investment Area to lure region-wide<br>\ninvestors, it was announced here yesterday.<\/p>\n<p>The agreement was reached at a meeting of the heads of<br>\ninvestment agencies of the ASEAN nations, held in the Philippines<br>\nthis week, said Melito Salazar, director of the Philippine Board<br>\nof Investments.<\/p>\n<p>Salazar said the joint ASEAN Investment Area would be crucial<br>\nin attracting foreign direct investment to the region as well as<br>\nin encouraging intra-ASEAN investment.<\/p>\n<p>The framework for the investment area would be completed by<br>\nSeptember 1998 and would deal with harmonizing the investment<br>\nincentives of ASEAN countries and with competition between<br>\ncountries for investment, he added.<\/p>\n<p>Also to be taken up are issues of national treatment of<br>\nforeign investments, increased investment promotion between ASEAN<br>\ncountries and development of sub-regional economic groupings<br>\nwithin ASEAN.<\/p>\n<p>Lim Pin, deputy chairman of Singapore&apos;s Economic Development<br>\nBoard, said the investment area would largely be in operation by<br>\n2010 although some aspects would not be fully implemented until<br>\n2020.<\/p>\n<p>However Salazar said that no member would be compelled to<br>\nharmonize its investment incentives, but rather, member nations<br>\nwould be able to consult each other to see what would be the best<br>\nincentives to adopt.<\/p>\n<p>Also at the conference, Staporn Kavitanon, secretary-general<br>\nof Thailand&apos;s Board of Investments, announced that his country<br>\nwas working on an ASEAN industry database which could be accessed<br>\non the Internet.<\/p>\n<p>The database would allow those seeking potential partners or<br>\nsuppliers in ASEAN to get information on companies in the region<br>\ndepending on their sectors, their product lines, their markets<br>\nand their ownership.<\/p>\n<p>ASEAN includes Brunei, Indonesia, Malaysia, the Philippines,<br>\nSingapore, Thailand and Vietnam. The countries of Myanmar,<br>\nCambodia and Laos are scheduled to join ASEAN this month.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/asean-draws-up-investment-plan-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}