Indonesia will soon impose up to a 200-per cent import tariff on Chinese goods to mitigate the effects of the ongoing trade war between China and the United States, reported ANTARA.

Indonesia’s Trade Minister Zulkifli Hasan said on Friday that the policy will take effect once the related regulation is issued.

He explained that the trade war is causing an oversupply in China as their products face rejection by Western countries, forcing them to redirect exports to other markets like Indonesia.

Tariffs for Chinese-made products would range from 100 to 200 per cent, Hasan noted.

“The United States can impose a 200-per cent tariff on imported ceramics or clothes; we can do it as well to ensure our MSMEs and industries will survive and thrive,” he remarked.

A new ministerial regulation is being drafted to address concerns raised by stakeholders about the inadequacies of earlier regulations regarding protecting local industries from the influx of Chinese-made products.

Trade Minister Regulation No. 37 of 2023, the first of such regulations, established import control through a post-border mechanism and checks for imported products.

The regulation also limited carry-on tax-free personal products for returning Indonesian migrant workers to US$500 for only 56 products.

“Regulation No. 37 was capable of restricting and controlling imports,“ Hasan emphasised. However, the new arrangement resulted in a backlog in customs inspections due to additional checks on migrant workers’ luggage.

“Our migrant workers were furious, and our customs agency was underprepared to manage the increased volume of products,“ he stated.

To address this issue, the government amended the regulation through Trade Minister’s Regulation No. 7 of 2024, which abolished the tax-free restriction on 56 products.

However, the bottleneck persisted, with cargo containers piling up at various ports. This led to Trade Minister’s Regulation No. 8 of 2024.

“But again, our industries, particularly textiles, complained and requested the return of Regulation No. 37,“ Hasan said. –

Source:Bernama

Lawmakers have passed a resolution to pilot special mechanisms for the development of Da Nang City, including the establishment of a free trade zone.

It approves a free trade zone linked to Lien Chieu Port, and in the zone, Vietnam’s third-biggest city will trial mechanisms and policies that allow it to attract investments in “high-quality” financial, trade and tourism services.

The Da Nang Free Trade Zone will have production areas, logistics centers, commercial-service zones,

and other functional areas.

The functional areas will be separated by a fence to ensure inspection, supervision and customs control.

Lien Chieu Port is under construction and is set for completion next year to ease

pressure on Tien Sa Port.

It will span 450 hectares to have eight container berths for ships of 30,000-200,000 DWT, six general berths for ships of 30,000-100,000 DWT, a 1,200-meter inland waterway dock, and six wharves specializing in handling liquid and gas

cargoes.

Its cargo handling capacity is expected to reach 50 million tons a year by 2050.

It is expected to cost over VND3.4 trillion (US$133.4 million), with around VND3 trillion provided by the government and the rest coming from the city.

In an interview earlier this year with VnExpress, Da Nang vice chairman said the city has geographical and infrastructural advantages for establishing a free trade zone since it is one of the few places with both an international seaport and airport.

He said the zone could have outlet stores selling branded goods at highly competitive prices due to tax breaks targeting not just locals but also tourists, including foreign.

Foreign investors setting up businesses in the zone do not need to go through the usual investment procedures.

They will also enjoy customs priority for export and import.

The National Assembly (NA) has tasked the government with issuing regulations for the management and development of the zone.

In case of issues beyond its authority, it has to report to the NA Standing Committee a decision.

Le Quang Manh, chairman of the NA’s Finance and Budget Committee, said since such a zone is new in Vietnam, it would be started on a trial basis and improved gradually.

The pilot period for the special mechanisms and policies is five years.

Source: Vnexpress

San Miguel Corp. (SMC), a diversified conglomerate led by ultra bilyonaryo Ramon S. Ang, is ramping up construction plans for three major expressway projects valued at a combined P328.84 billion, according to the Toll Regulatory Board (TRB).

These projects aim to improve transportation infrastructure within Luzon, the country’s most populous island.

TRB executive director Alvin Carullo said that SMC is finalizing the engineering design for the P152 billion Southern Access Link Expressway (SALEX).

The proposed SALEX is a 40.65-kilometer elevated expressway network, including the Shoreline Expressway and extensions of the Metro Manila Skyway Stage 3 (MMSS3): the C3-R10 Extension, Quirino Extension, and Buendia Extension.

Carullo also said the P28.15 billion South Luzon Expressway Toll Road 5 (SLEX TR5), Segment 1, is slated to begin construction next year.

The SLEX TR5, Segment 1, will stretch approximately 61 kilometers from the end of SLEX Phase II in Brgy. Mayao, Lucena City, Quezon, to Gumaca, Quezon. It will feature four interchanges (Pagbilao, Atimonan, Aglangan, and Gumaca) and include the necessary toll plazas and an operation center.

Furthermore, the 148.30-kilometer Northern Access Link Expressway (NALEX), comprising two phases, is scheduled to start construction in the fourth quarter of 2024.

NALEX Phase 1 is a proposed 136.4-kilometer road connecting Metro/Mega Manila, the New Manila International Airport (NMIA), and Central Luzon, extending from the Metro Manila Skyway Stage 3 at Balintawak.

NALEX Phase 2 plans to extend from Masantol, Pampanga, to Tarlac City, based on demand.

Source: Bilyonaryo