Internet link-up for ASEAN states<\/p>\n
MANILA (AP): Doing business in Southeast Asia, the world's
\nmost economically vibrant region, will be speeded up through an
\nInternet link-up connecting 10 countries in the region, officials
\nsaid yesterday.<\/p>\n
Part of a 23-year program outlined by investment planners of
\nthe Association of Southeast Asian Nations, or ASEAN, it is aimed
\nat encouraging the flow of capital and portfolio funds in the
\nregion.<\/p>\n
Staporn Kavitanon, secretary-general of Thailand's Board of
\nInvestment, said the prototype program developed in Thailand now
\nhas information on 3,000 companies in Malaysia, the Philippines,
\nSingapore and Thailand, with data on those in Brunei, Indonesia
\nand Vietnam in the works.<\/p>\n
Those seven countries comprise the ASEAN.<\/p>\n
Salazar said that the group also has offered to develop home
\npages for Myanmar, Cambodia and Laos. The three countries will
\nbecome members of the regional economic bloc later this month.<\/p>\n
\"This is one tangible sign that ASEAN is already beginning to
\nturn its vision into reality,\" said Melito Salazar,
\nundersecretary of the Philippines' Department of Trade and
\nInvestment.<\/p>\n
The Internet database will provide information on the names of
\ncompany officials, products, addresses, telephone numbers and
\nproduction capacity.<\/p>\n
By forming the investment area, the heads of AIA believe it
\nwould be easier to convince non-ASEAN foreign fund managers to
\ninvest in specific ASEAN countries or in a sub-region.<\/p>\n
The investment area is expected to offer incentives to
\ninvestors in specific industries and capital markets. A plan
\ndefining the scope of the investment area is expected to be
\ncompleted by next year.<\/p>\n
Lim Pin, deputy chairman of Singapore's Economic Development
\nBoard, said the plan is expected to be substantially operational
\nby the year 2010 and fully functioning by 2020.<\/p>",
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"sponsor": "Okusi Associates",
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