AEC Feed

Businesses have poured more than 100 billion yuan (Bt545 billion) into the Laos-China Boten-Mohan border economic cooperation zone, lured by investment incentives offered by the governments of both sides.
Last September, the governments of Laos and China signed an agreement to establish the economic cooperation zone at the Boten-Mohan border, aiming to boost trade, investment and tourism in the region.
Authorities expect that even more investment will be forthcoming if certain issues are addressed.
These are mainly visa facilitation for businessmen and better transportation, which should materialise when the Laos-China railway is operational.
More than 60 investment projects amounting to 100 billion yuan have been signed for operation in the Yunnan Xishuangbanna Mohan Economic Development Zone, according to information from authorities.
Located at Mohan Border Port, which is China’s gateway to Laos and provides access to Southeast Asia’s most convenient land route, the zone has significant investment potential, said deputy head of the committee in charge of the Yunnan Xishuangbanna Mohan Economic Development Zone, Ai La Xiang. – Vientiane Times

GE, MoIT to develop 1GW of
wind energy in Vietnam

In Hanoi, Vietnam’s Ministry of Industry and Trade and General Electric on Monday signed an agreement to accelerate the development of renewable energy in the country.
The two parties aim to develop at least 1 gigawatt of wind farms by 2025, which are expected to ensure energy to about 1.8 million Vietnamese homes.
Vietnamese President Tran Dai Quang and United States President Barack Obama witnessed the signing ceremony.
Under the agreement, the US-based global power corporation would utilise its global wind development expertise and work with domestic developers to identify potential projects.
GE would support the implementation of Vietnam’s national target programme through the local manufacturing of wind turbine equipment and components. – Viet Nam News

Malaysia's household debt
stands at $251.85 billion

Malaysia’s household debt stood at 1.03 trillion ringgit ($251.85 billion) or 89.1 per cent of gross domestic product (GDP).
Deputy Finance Minister Chua Tee Yong said 62.6 per cent of household debt was in long-term loans from banks and nonbanking financial institutions for property acquisition and financial investments.
“Several measures have been implemented in stages since 2010 to curb the rise in household debt.
“This led to a decrease in household debt growth to 6.5 per cent this year from 7.3 per cent last year and 14.2 per cent in 2014,” Chua said when replying a question by MP Nasrun Datu Mansur in the Dewan Rakyat Tuesday. – The Star

VIRGIN ACTIVE PLANS
BIGGER FOOTPRINT
UK-based gym chain Virgin Active has announced plans to increase its presence in Southeast Asia significantly, investing from existing resources up to 150 million pounds (Bt7.82 billion) in the region and creating almost 2,000 jobs over the next six years.
Virgin Active intends to open up to 20 clubs in Thailand, investing up to Bt5 billion and creating around 1,500 new jobs in the country. In Singapore, it will invest up to 100 million Singapore dollars (Bt2.58 billion) and open between eight and 10 new clubs, creating 400 jobs.
There are currently three Virgin Active clubs open in Thailand and one in Singapore, with a further two under construction in each country. Virgin Active is also exploring expansion in other key Asian markets.
Virgin Active believes that the Asian markets are set to evolve in a similar way to the more developed health clubs markets in the US, Britain and Australia, where existing older fitness-only operations have struggled with the arrival of more differentiated and innovative fitness products tailored to meet the needs of an evolving and more educated consumer.--The Nation

SIME DARBY LOOKING TO LIST PORT IN CHINA
Malaysian company Sime Darby is looking to list Weifang Port in China as part of a plan to monetise its assets and maximise returns.
Sime Darby Utilities managing director Timothy Lee said the Weifang Port “has been profitable since Day 1 of the takeover”, and was ranked by BMT Consulting as one of the most efficient and cost-effective ports in China.
In the last financial year, Weifang Port – a sea-fronting port at the central northern region of Shandong province – posted a pre-tax profit of just under 90 million ringgit (Bt780 million) on revenue of 300 million ringgit.
Sime Darby acquired the port from the local government in 2005 and has since invested 2 billion ringgit to turn it into a profitable mid-sized seaport with 15 berths, up from four.
By the end of the year, this seaport with more than 500 customers will have 23 berths under its 1.4-billion-ringgit (2012-17) expansion plan. – The Star