DOCSLIB.ORG

Investing in ASEAN Association of Southeast Asian Nations Asean C 2021 2022 M |

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investing in ASEAN Association of Southeast Asian Nations Asean C 2021 2022 M | Investing in ASEAN Association of Southeast Asian Nations asean C 2021 2022 M | Y CM MY CY CMY • one vision • one identity • one community • K | Brunei Darussalam | Cambodia | Indonesia | Lao PDR | Malaysia | | Myanmar | Philippines | Singapore | Thailand | Vietnam | Helping you succeed in Asia TIONS A Contents N N A Introduction SI A ST Southeast Asia is increasingly attractive to foreign investors 5 A Messages OUTHE US-ASEAN Business Council 7 S OF UK-ASEAN Business Council 8 EU-ASEAN Business Council 9 TION Business - Finance - Advisory A Seeking the light: ASEAN 2021|2022 – HSBC 12 SSOCI How to (not) fail in ASEAN – ASEAN Business Partners 15 A Global Upside makes expansion easier for growing businesses – Global Upside Corporation 20 Reframing for growth and building a better working world post-pandemic – EY 22 Maximising opportunities in ASEAN in post pandemic world – EY 25 Financial technology is rapidly changing banking in the region 28 Future-proofing ASEAN’s financial services industry - SWIFT 32 Recruiting the best talent to help your ASEAN business grow – Globalization Partners 35 Supporting UK companies in ASEAN – British Chamber of Commerce Singapore 39 Supporting business expansion across the ASEAN region – Mauve Group 42 Healthcare - Life Sciences - Pharmaceuticals Pandemic hastens adoption of digital technologies for healthcare provision 45 The hidden pandemic in ASEAN – Novo Nordisk 49 Life sciences set to be fastest growing manufacturing sector 52 Manufacturing Manufacturing advances technology for global role 55 Robert Bosch: “Like a Bosch” Sustainable “Like a Bosch” – Robert Bosch 59 Infrastructure Transport upgrades accelerate 62 Logistics GEODIS offers comprehensive logistics solutions across the ASEAN region – GEODIS 68 Innovative technology to enhance logistics 71 Agriculture Future of agriculture will depend on new IT solutions 73 BASF: We create chemistry Sustainability is at the heart of chemical giant’s strategy growth – BASF Southeast Asia 77 Renewables Renewables take centre stage in energy strategy 80 00 ASSOCIATION OF SOUTHEAST ASIAN NATIONS Water ASEAN embraces innovation to tackle water challenges 83 Diageo: The spirit of progress The spirit of progress: Doing business the right way – Diageo 86 Tourism Striving to rebuild tourism industry on sustainable basis 90 Retail & Consumer Lifestyle changes propel consumer markets 93 Education Opportunities grow for foreign investment in education sector 96 Defence & Security Risks to business in the ASEAN region – Hill & Associates 100 Region continues to enhance defence capabilities 102 Useful contacts 106 Copyright ©Allurentis Limited 2021. All rights reserved. Allurentis is delighted to have been involved in partnership with ASEAN on this, the ninth publication and would like to thank all sponsoring organisations for their kind contributions. We are confident that it will raise awareness with all readers and prove to be an invaluable resource, especially for those wishing to become involved in the extraordinary business opportunities and growth prospects within the region. Electronic copies of this publication may be downloaded from Allurentis Limited’s website at www.allurentis.com, provided that the use of any copy so downloaded, complies with the terms and conditions specified on the website. Except as expressly stated above, no part of this publication may be copied, reproduced, stored or transmitted in any form or by any means without the prior permission in writing from Allurentis Limited. To enquire about obtaining permission for uses other than those permitted above, please contact Allurentis by sending an email to [email protected] | ASEAN Business Partners | BASF | Diageo | EY | GEODIS | Global Upside | Globalization Partners | | Hill & Associates | HSBC | Mauve Group | Novo Nordisk | Robert Bosch | SWIFT | Photos courtesy of: www.istockphoto.com | www.123rf.com | www.shutterstock.com 00 NTRODUCTION Southeast Asia is increasingly I attractive to foreign investors Mitigating the social and economic effects of the Covid-19 pandemic has decline of 14% on the previous year it represented the largest FDI inflow been the principal focus since the beginning of 2020. ASEAN’s experience of any emerging market region, according to UNCTAD’s 2020 Investment with past pandemics including SARS, Avian and Swine influenzas, have Trends Monitor. led them to activate earlier planned preparedness protocols. A key reason is that a combination of rising labour costs, supply chain At the beginning of January 2020, four days after China’s notification concerns and geopolitical tensions are driving multinational companies to the World Health Organisation (WHO), ASEAN’s Secretariat alerted to relocate a growing proportion of their manufacturing from China to senior health officials to the unfolding emergency. ASEAN countries. Governments have therefore been able to work collectively to strengthen FDI growth has been driven by strong investment mainly in Singapore, their pandemic response plans and address the dual challenges of Indonesia and Vietnam, with these three countries receiving more than resuming business activity while keeping people safe. 80% of inflows in 2019, according to UNCTAD. Vietnam while recording a 10% fall still received some US$20 billion of investment. Vietnam, for example, is one of the very few countries worldwide to have recorded positive economic results over 2020 with predicted GDP ASEAN offers many long term incentives to investors, not least since it is growth of 2.3%. The Philippines, though normally one of the smaller recognised as an area of increasing geostrategic importance as political, recipients of FDI, witnessed a near 30% rise in investment by a diverse military and economic power shifts steadily towards the region. range of Japanese, Dutch, American and Singaporean firms. All countries are deploying the Association’s Single Window, where The dilemma for all governments is keeping further waves of infections trade and cargo flows can be hugely accelerated as trade information at bay while bringing both economic and social activities back to a high is processed by computer linked systems. Singapore, Thailand, Vietnam, degree of normality. Southeast Asia is poised for economic recovery Malaysia, Cambodia and Lao PDR are also using the ASEAN online in 2021 with the rollout of Covid-19 vaccines and gradual opening up Customs Transit System to track goods. of global economies. The Asian Development Bank has estimated that The economic prospects have been further enhanced following the Southeast Asia’s GDP will expand 5.2% against a contraction of 4.4% Regional Comprehensive Partnership (RCEP) agreement signed in Hanoi in 2020. in November 2020. Therefore, ASEAN is again on course to become the world’s largest Once it is ratified, the landmark agreement will link ASEAN with China, single market by 2030. This is reflected in the investment flows that have South Korea, Japan, Australia and New Zealand, a group of countries continued at a high level. with a combined population of 2.3 billion, into the world’s largest free- In 2020, despite the severe effects on the global economy, ASEAN trade agreement. The trade deal covers 30% of global GDP and 28% of received US$70 billion in new investments. Even though this was a the world’s trade. ASEAN countries are expected to benefit significantly 00 5 ASSOCIATION OF SOUTHEAST ASIAN NATIONS from RCEP, potentially by up to US$19 billion per year by 2030, according to the Brookings Institution. Alongside the Comprehensive and Progressive Agreement for Trans- Pacific Partnership (CPTPP), these agreements will ensure substantial growth. They promise to achieve a positive evolution in global and regional economic progress and underpin the resumption of strong long term economic growth in ASEAN countries. ASEAN continues to enhance its credentials in the global economy. The World Economic Forum’s annual meeting to be held in Singapore in August 2021, will bring together leaders from around the world meeting in person for the first time since the pandemic. ASEAN countries will have the platform to present the unique investment opportunities offered in a multitude of sectors set to drive trade and investment over the next decade and beyond. The Covid-19 crisis has served to further push many of the technological shifts that were already apparent prior to the pandemic, particularly in terms of digital transformation ranging from the provision of healthcare services to online purchases and payments. Malaysia has secured orders from AstraZeneca, Pfizer-BioNTech and the global COVAX Facility backed by the WHO, and is negotiating with In 2020, Thailand announced its plan to promote itself as the region’s other potential suppliers as it plans to inoculate 80% of its population. electric vehicle hub, by manufacturing 250,000 electrically powered vehicles by 2025 and increasing to 750,000 units by 2030, representing Elsewhere the Philippines has allocated US$1.72 billion to purchase 30% of total vehicle production in the country. Singapore has already 148 million doses of vaccines from pharma companies including become a leading technology hub and its sector is set to grow further AstraZeneca, Sinovac and from India’s Serium Institute of India. with more than 270 venture capital funds and 4,000 start-up tech Vietnam has ordered 30 million vaccine doses from AstraZeneca and is companies located there. also developing its own vaccine. Although health security remains a huge challenge, the region is A huge boost has come with the decision by the Quadrilateral Security stepping up its efforts to meet this. Singapore became the first country Dialogue (QSD), a strategic forum which groups the US, Australia, in Asia to receive a Covid-19 vaccine from Pfizer and BioNTech in India and Japan, to deliver one billion doses of the vaccine to ASEAN December 2020. Indonesia has partnered with China’s Sinovac Biotech countries by the end of 2022. The vaccine, expected to be Johnson & to produce Corona Vac vaccine and is also developing its own, while Johnson’s single jab, is due to be manufactured by India’s Biological acquiring further supplies from Novavax and AstraZeneca, with the aim E company.
Load more

Recommended publications
  • Preparatory Survey on Vientiane Logistics Park (VLP) Project (PPP Infrastructure Project) in Lao P.D.R
    Ministry of Public Works and Transport Lao Peoople’s Democratic Republic (Lao PDR) Preparatory Survey on Vientiane Logistics Park (VLP) Project (PPP Infrastructure Project) In Lao P.D.R. Final Report July 2015 Japan International Cooperation Agency (JICA) Nippon Express Co., Ltd. Nittsu Research Institute and Consulting, Inc. Nittsu Real Estate Co., Ltd. OS International Development Center of Japan Inc. JR 15-054 Ministry of Public Works and Transport Lao Peoople’s Democratic Republic (Lao PDR) Preparatory Survey on Vientiane Logistics Park (VLP) Project (PPP Infrastructure Project) In Lao P.D.R. Final Report July 2015 Japan International Cooperation Agency (JICA) Nippon Express Co., Ltd. Nittsu Research Institute and Consulting, Inc. Nittsu Real Estate Co., Ltd. International Development Center of Japan Inc. Exchange Rate (February 2015) 1USD=118.59JPN 1THB＝3.64JPN 1KIP＝0.015JPN Preparatory Survey on Vientiane logistics Park (VLP) Project in Lao PDR. Final Report Preparatory Survey on Vientiane Logistics Park (VLP) Project (PPP Infrastructure Project) in Lao P.D.R. Final Report Summary 1. Project Name Vientiane Logistics Park (VLP) (1) Project Site The Thanaleng area where the VLP is planned is located 15 km east-west from downtown Vientiane. It lies opposite Nong Khai Municipality of Thailand, so that Thanaleng has been traditionally a strategic place as a river-crossing point. In 1993, the first Friendship Bridge was completed at the Thanaleng area, which continues to hold its strategic position as an international cross border point. Dongphosy Forest is located approximately 3 km north from the bridge, which is under Vientiane Capital. The railway passes through the forest, and the Thanaleng station is located 3.5 km from the bridge.
    [Show full text]
  • ESCAP PPP Case Study #1
    Public-Private Partnerships Case Study #1 Traffic Demand Risk: The case of Bangkok’s Skytrain (BTS) by Mathieu Verougstraete and Isabelle Enders (March 2014) The following case study examines the issue of traffic demand risk and sheds light on how the problem of inaccurate ridership forecasts can impact a PPP project by using the example of the Bangkok SkyTrain. TRAFFIC DEMAND RISK FIGURE 1 : ACTUAL/FORECAST TRAFFIC Even though literature is rich about theory and practice of traffic forecasting, insufficient attention has been paid to the predicted accuracy of traffic forecasting models and the consequences of occurring errors. Emperical studies suggest however that traffic forecasts in the transport sector are characterized by large errors and considerable optimism bias.1 This statement goes in line with the review conducted on PPP projects financed by the European Investment Bank which states that major issues in road projects BANGKOK BTS: CASE SUMMARY occurred because of traffic performance has been overestimated. Findings disclose that Bangkok covers about 606 square miles 1/2 of toll road projects failed to meet their and is densely populated. By 1990 it was early-year forecasts; often by some margin renowned for its chronic traffic congestion, 2 (errors of 50% - 70%). and over the subsequent decade vehicle ESCAP supports govern- ownership more than doubled. Heavy traffic ments in Asia-Pacific in This pattern of forecasting error and volume which is caused by bus, car and implementing measures systematic optimism-bias is even more motorbike journeys was making Bangkok to efficiently involve marked in the case of toll roads compared the private sector in one of the worst cities in the world in terms infrastructure develop- to toll-free road as illustrated in figure 1, of congestion and air pollution caused by which compares two samples of international ment.
    [Show full text]
  • Pre-Feasibility Study on Yangon Circular Railway Modernization Project
    32mm Republic of the Union of Myanmar Yangon Regional Government PROJECT FOR COMPREHENSIVE URBAN TRANSPORT PLAN OF THE GREATER YANGON (YUTRA) Pre-Feasibility Study on Yangon Circular Railway Modernization Project Final Report January 2015 Japan International Cooperation Agency (JICA) ALMEC Corporation Oriental Consultants Co., Ltd Nippon Koei Co., Ltd EI JR 14-208 The exchange rate used in the report is: US$ 1.00 = MMK 1,000.00 Project for Comprehensive Urban Transport Plan of the Greater Yangon (YUTRA) Pre-Feasibility Study on Yangon Circular Railway Modernization Project FINAL REPORT TABLE OF CONTENTS 1 UPPER PLANNING, COMPREHENSION OF THE CURRENT ISSUE 1.1 CURRENT SITUATION AND ISSUE OF TRANSPORT SECTOR IN THE GREATER YANGON .................. 1-1 1.1.1 GENERAL ............................................................................................................ 1-1 1.1.2 MAIN TRANSPORT COMPONENTS ......................................................................... 1-2 1.1.3 TRANSPORT DEMAND CHARACTERISTICS ............................................................. 1-9 1.2 CURRENT SITUATION AND ISSUE OF RAILWAY SECTOR IN THE GREATER YANGON ...................... 1-11 1.2.1 RAILWAY IN GREATER YANGON ........................................................................... 1-11 1.2.2 CURRENT SITUATION AND ISSUES ........................................................................ 1-13 1.3 COMPREHENSION OF THE CURRENT UPPER PLANNING AND POLICY OF RAILWAY SECTOR IN YANGON REGION ....................................................................................................................
    [Show full text]
  • CBRE MARKET INSIGHT - Q3 2015 29Th September, 2015 WE ARE FACING GROWING DISRUPTION in OUR INDUSTRY
    CBRE MARKET INSIGHT - Q3 2015 29th September, 2015 WE ARE FACING GROWING DISRUPTION IN OUR INDUSTRY TECHNOLOGY LEGISLATION 17,000 Vietnamese students in the U.S NEW PLAYERS TRADE 2 CBRE | CBRE MARKET INSIGHTS | Q3 2015 HCMC: 15/09/2015 HANOI: 21/09/2015 3 CBRE | CBRE MARKET INSIGHTS | Q3 2015 4 CBRE | CBRE MARKET INSIGHTS | Q3 2015 1 Economy EU IS NO LONGER WORRIED ABOUT GREECE - NOW IT’S ALL ABOUT MIGRANTS AND CHINA 6 CBRE | CBRE MARKET INSIGHTS | Q3 2015 CONNECTING VIETNAM WORLDWIDE Breaking News – Trans Pacific Partnership Agreement – Deal 98 Percent Done! Estimated boost to real GDP from TPP is highest for Vietnam 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% -0.5% US Peru Laos India Chile China Korea Japan Brunei EU_25 Mexico Canada Vietnam Thailand Australia Malaysia Indonesia Singapore Cambodia RoSEAsia Philippines New Zealand Rest of the world the Rest of Source: Vietnam Institute for Economic and Policy Research 7 CBRE | CBRE MARKET INSIGHTS | Q3 2015 ASEAN ECONOMIC COMMUNITY Number of Greenfield Investments in ASEAN Countries 1. ASEAN would be 7th largest economy 2. 600 million people, 3rd largest working population 3. Open economic: 54% of GDP is from Exports 4. 2013, 279 measures (79.7%) of the AEC Blueprint have been implemented. 5. ASEAN FTA: tariff rates on goods among ASEAN is 0% for ASEAN-6 6. Could triple per capita income by 2030, raising its citizens' quality of life to levels enjoyed today by members of the Organisation for Economic Co-operation and Development (OECD) 8 CBRE | CBRE MARKET INSIGHTS | Q3 2015 GOLD, OIL, STOCK, CURRENCY FLUCTUATIONS Vietnam consumes 14.5 tons of gold in Q2 Oil (WTI) 51.19% y-o-y Global gold 0.6% y-o-y SJC Gold 3.45% y-o-y VN Index 5.52% y-o-y VN Index follows when Shanghai Stock Exchange SBV will hold forex rate steady until early 2016 Composite Index Plunges Currency recovers after the plunge in late-Aug along with Fed’s declaration of delaying interest rate hike.
    [Show full text]
  • Wat Arun Temple Sebagai Tujuan Destinasi Wisata Terbaik Di Bangkok Thailand
    Foreign Case Study 2018 Sekolah Tinggi Pariwasata Ambarrukmo Yogyakarta WAT ARUN TEMPLE SEBAGAI TUJUAN DESTINASI WISATA TERBAIK DI BANGKOK THAILAND M. Deo Reksa Putra 17.02722 Sekolah Tinggi Pariwasata Ambarrukmo Yogyakarta Abstract : Makalah ini merupakan hasil laporan Foreign Case Study untuk syarat publikasi ilmiah di Sekolah Tinggi Pariwasata Ambarrukmo Yogyakarta dengan Judul Wat Arun Temple Sebagai Tujuan Destinasi Wisata Terbaik di Bangkok Thailand. 1. PENDAHULUAN Foreign Case Study (FCS) adalah sebuah kegiatan kewajiban bagi mahasiswa S1 Pariwisata di Sekolah Tinggi Ilmu Pariwisata Ambarrukmo Yogyakarta yang nantinya akan membuat laporan FCS dimana digunakan sebagai standar kualifikasi dan syarat kelulusan. Program FCS ini menuntut mahasiswa untuk melakukan pejalanan ke Luar Negeri untuk mempelajari perbedaan budaya, pengembangan bidang pariwisata di negara lain. Ada beberapa cara yang dapat ditempuh untuk melakukan FCS ini, yaitu Student Exchange, Double Degree, Join Degree, Journey dan program Magang. Thailand adalah salah satu negara di kawasan Asia Tenggara yang berbatasan dengan negara Laos dan Kamboja di sebelah timur dan negara Malaysia dan Teluk Siam di sebelah selatan dan negara Myanmar dan Laut Andaman di sebelah barat. Negara Thailand merupakan negara yang kaya akan keindahan alam dan sejarah hal itu di buktikan dengan banyaknya wisatawan yang datang untuk menikmati keindahan alam dan belajar sejarah ke negara tersebut. Thailand dikenal dengan julukan negara seribu Budha tentunya Thailand memiliki banyak sekali Candi
    [Show full text]
  • Study on Border Crossing Practices in International Railway Transport
    STUDY ON BORDER CROSSING PRACTICES IN INTERNATIONAL RAILWAY TRANSPORT Bangkok, 2018 This study was prepared by Transport Division ESCAP. The draft of the study was prepared by Mr. Goran Andreev, Consultant, under the supervision of Mr. Sandeep Raj Jain, Economic Affairs Officer, Transport Facilitation and Logistics Section (TFLS), Transport Division. Overall guidance was provided by Mr. Li Yuwei, Director, Transport Division. The study extensively benefited from the visits made by the ESCAP study team to several border crossings (in chronological order): Sukhbaatar (Mongolia), Dong Dang (Viet Nam), Padang Besar (Malaysia), Sarkhas (Islamic Republic of Iran), Rezekne (Latvia). The assistance provided by the railways, customs and other authorities at these border crossings, their officers and staff for the study is duly appreciated. Acknowledgments are also extended to the representatives of Intergovernmental Organisation for International Carriage by Rail (OTIF) and Organisation for Co- operation between Railways (OSJD), for their constructive comments on the draft Study and the contribution in providing valuable inputs on the publication. The views expressed in this guide are those of the authors and do not necessarily reflect the views of the United Nations Secretariat. The opinions, figures and estimates set forth in this guide are the responsibility of the authors, and should not necessarily be considered as reflecting the views or carrying the endorsement of the United Nations. The designations employed and the presentation of the material in this study do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries.
    [Show full text]
  • Nong Khai Nong Khai Nong Khai 3 Mekong River
    Nong Khai Nong Khai Nong Khai 3 Mekong River 4 Nong Khai 4 CONTENTS HOW TO GET THERE 7 ATTRACTIONS 9 Amphoe Mueang Nong khai 9 Amphoe Tha Bo 16 Amphoe Si Chiang Mai 17 Amphoe Sangkhom 18 Amphoe Phon Phisai 22 Amphoe Rattanawapi 23 EVENTS AND FESTIVALS 25 LOCAL PRODUCTS 25 SOUVENIR SHOPS 26 SUGGESTED ITINERARY 26 FACILITIES 27 Accommodations 27 Restaurants 30 USEFUL CALLS 31 Nong Khai 5 5 Wat Aranyabanpot Nong Khai 6 Thai Term Glossary a rebellion. King Rama III appointed Chao Phraya Amphoe: District Ratchathewi to lead an army to attack Vientiane. Ban: Village The army won with the important forces Hat: Beach supported by Thao Suwothanma (Bunma), Khuean: Dam the ruler of Yasothon, and Phraya Chiangsa. Maenam: River The king, therefore, promoted Thao Suwo to Mueang: Town or City be the ruler of a large town to be established Phrathat: Pagoda, Stupa on the right bank of the Mekong River. The Prang: Corn-shaped tower or sanctuary location of Ban Phai was chosen for the town SAO: Subdistrict Administrative Organization called Nong Khai, which was named after a very Soi: Alley large pond to the west. Song Thaeo: Pick-up trucks but with a roof Nong Khai is 615 kilometres from Bangkok, over the back covering an area of around 7,332 square Talat: Market kilometres. This province has the longest Tambon: Subdistrict distance along the Mekong River; measuring Tham: Cave 320 kilometres. The area is suitable for Tuk-Tuks: Three-wheeled motorized taxis agriculture and freshwater fishery. It is also Ubosot or Bot: Ordination hall in a temple a major tourist attraction where visitors can Wihan: Image hall in a temple easily cross the border into Laos.
    [Show full text]
  • Marketing Department State Railway of Thailand Thailand and Neighboring Countries
    Marketing Department State Railway of Thailand Thailand and Neighboring Countries The Kingdom of Thailand is a country at the center of the Indochina peninsula in Southeast Asia. It is bordered to the north by Myanmar and Lao PDR, to the east by Lao PDR and Cambodia, to the south by the Gulf of Thailand and Malaysia, and the west to the Andaman Sea. Thailand has the potential to connect to four neighboring countries. Two of which have been in operations, namely, Malaysia and Lao PDR. 2 Thailand – Malaysia Two connecting points between Thailand and Malaysia are at Padang Besar border on the west coast and at Sungai Golok border on the east coast. Trains Hat Yai between Thailand and Malaysia are now using Padang Besar as a Padang Besar joint station for Customs, Sungai Golok Immigration and Quarantine (CIQ) procedures which serves four international passenger trains daily and freight trains on a regular basis. Unfortunately, at the moment, no train services is operating via Sungai Golok joint station. Padang Besar Station 3 Thailand – Malaysia at Padang Besar 4 Thailand – Malaysia at Padang Besar 1. 2. 3. 4. 5. 6. 1. Landbridge train crossing the border 2. SRT locomotive waiting to haul Langkawi Express to Hat Yai 3. CIQ at Padang Besar station 4. Langkawi Express northbound from KL to Hat Yai 5. International passengers waiting for the train 6. Train no.35 from Bangkok arriving at Butterworth station 5 Thailand – Lao PDR at Thanaleng Thailand’s railway has connected to Lao PDR at Thanaleng station since March 2009. For the time being, four international passenger trains daily are in service.
    [Show full text]
  • 2021 Prime Time for Real-Time Report from ACI Worldwide And
    March 2021 Prime Time For Real-Time Contents Welcome 3 Country Insights 8 Foreword by Jeremy Wilmot 3 North America 8 Introduction 3 Asia 12 Methodology 3 Europe 24 Middle East, Africa and South Asia 46 Global Real-Time Pacific 56 Payments Adoption 4 Latin America 60 Thematic Insights 5 Glossary 68 Request to Pay Couples Convenience with the Control that Consumers Demand 5 The Acquiring Outlook 5 The Impact of COVID-19 on Real-Time Payments 6 Payment Networks 6 Consumer Payments Modernization 7 2 Prime Time For Real-Time 2021 Welcome Foreword Spurred by a year of unprecedented disruption, 2020 saw real-time payments grow larger—in terms of both volumes and values—and faster than anyone could have anticipated. Changes to business models and consumer behavior, prompted by the COVID-19 pandemic, have compressed many years’ worth of transformation and digitization into the space of several months. More people and more businesses around the world have access to real-time payments in more forms than ever before. Real-time payments have been truly democratized, several years earlier than previously expected. Central infrastructures were already making swift For consumers, low-value real-time payments mean Regardless of whether real-time schemes are initially progress towards this goal before the pandemic immediate funds availability when sending and conceived to cater to consumer or business needs, intervened, having established and enhanced real- receiving money. For merchants or billers, it can mean the global picture is one in which heavily localized use time rails at record pace. But now, in response to instant confirmation, settlement finality and real-time cases are “the last mile” in the journey to successfully COVID’s unique challenges, the pace has increased information about the payment.
    [Show full text]
  • Coronavirus Politics
    Coronavirus The Comparative Politics Politics and Policy of COVID-19 EDITED BY Scott L. Greer, Elizabeth J. King, Elize Massard da Fonseca, and André Peralta-Santos Coronavirus PolitiCs Coronavirus PolitiCs The Comparative Politics and Policy of COVID-19 Scott L. Greer, Elizabeth J. King, Elize Massard da Fonseca, and André Peralta-Santos, Editors University of Michigan Press ann arbor Copyright © 2021 by Scott L. Greer, Elizabeth J. King, Elize Massard da Fonseca, and André Peralta- Santos Some rights reserved This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 Interna- tional License. Note to users: A Creative Commons license is only valid when it is applied by the person or entity that holds rights to the licensed work. Works may contain components (e.g., photo graphs, illustrations, or quotations) to which the rightsholder in the work cannot apply the license. It is ultimately your responsibility to inde penden tly evaluate the copyright status of any work or component part of a work you use, in light of your intended use. To view a copy of this license, visit http://creativecommons.org/licenses/by-nc/4.0/ For questions or permissions, please contact um . press . perms@umich . edu Published in the United States of Amer i ca by the University of Michigan Press Manufactured in the United States of Amer i ca Printed on acid-f ree paper First published April 2021 A CIP cata log rec ord for this book is available from the British Library. Library of Congress Cataloging-i n-P ublication data has been applied for.
    [Show full text]
  • ASEAN+3 and COVID-19: Panoply of Pandemic Policies Korea
    Contents Brunei Darussalam ............................................................................................................................. 1 Cambodia ........................................................................................................................................... 7 China ................................................................................................................................................ 23 Hong Kong, China ............................................................................................................................ 26 Indonesia .......................................................................................................................................... 50 Japan ................................................................................................................................................ 61 ASEAN+3 and COVID-19: Panoply of Pandemic Policies Korea ................................................................................................................................................ 66 (Since February 1, 2020) Lao PDR ........................................................................................................................................... 76 Malaysia ........................................................................................................................................... 81 Myanmar ..........................................................................................................................................
    [Show full text]
  • Growth, Poverty Reduction, and Inequality
    32691 At the Frontlines of Public Disclosure Authorized Development Reflections from the World Bank Public Disclosure Authorized Public Disclosure Authorized EDITED BY INDERMIT S. GILL & TODD PUGATCH Public Disclosure Authorized THE WORLD BANK At the Frontlines of Development Reflections from the World Bank At the Frontlines of Development Reflections from the World Bank Edited by Indermit S. Gill and Todd Pugatch Washington, D.C. © 2005 The International Bank for Reconstruction and Development / The World Bank 1818 H Street, NW Washington,DC 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail [email protected] All rights reserved. 123408070605 The findings, interpretations, and conclusions expressed herein are those of the author(s) and do not necessarily reflect the views of the Board of Exec- utive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work.The boundaries, colors, denominations, and other informa- tion shown on any map in this work do not imply any judgment on the part of the World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions: The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law.The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint any part of this work, please send a request with complete information to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA, telephone 978-750-8400, fax 978-750-4470, www.copyright.com.
    [Show full text]