Doing Business in China 2023
Economists expect China will fully reopen in the second half of 2023, pushing GDP growth to around five percent from three percent in 2022. Industries in line with Beijing’s policy priorities, such as healthcare sector, green sectors, consumer market, and sectors related to industrial automation, are expected to be the biggest beneficiaries.
Doing Business in China 2023 covers the following:
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
- Cybersecurity and Data Protection
Doing Business in India 2023
India defied global trends in 2022 to witness record M&A activity and remains among the fastest growing economies in the world.
Doing Business in India 2023 covers the following topics:
- Human resources and payroll
- India’s investment climate
- Setting up business in India
- Mergers and acquisitions
- Transfer pricing
- Financial reporting and audit
10 New Laws Starting January 1 That May Affect Your Business in China
Multiple new laws and regulations that affect doing business in China came into force on January 1, 2023. Foreign investors and businesses engaging in food and beverage, import and export, new energy vehicles, sports, and financial activities should pay special attention.
Poland: Work-life balance directive
In view of the prevailing trends regarding finding harmony in life and work, the European Union has obliged Member States to introduce into their national legal order a directive, commonly referred to as the work-life balance directive (i.e. Directive (EU) 2019/1158 of the European Parliament and of the Council of 20 June 2019 on work-life balance for parents and carers and repealing Council Directive 2010/18/EU), which aims to introduce work-life balance for workers with children in the Member States – but also to achieve gender equality by promoting women’s participation in the labour market, equal sharing of caring responsibilities between men and women and reducing the gender pay gap.
THE INDO-GERMAN MAGAZINE OCTOBER/DECEMBER 2022
An Introduction to Doing Business in ASEAN 2023
This publication, designed to introduce the fundamentals of investing in ASEAN, was compiled by experts at Dezan Shira & Associates, a specialist foreign direct investment practice, providing corporate establishment, business intelligence, tax advisory and compliance, accounting, payroll, due diligence, and financial review services to multinationals investing in emerging Asia.
An Introduction to Doing Business in ASEAN 2023 covers the following:
- Corporate establishment;
- Tax and accounting;
- Human resources and payroll;
- Audit and compliance.
Vietnam’s HR Landscape, Compliance, and Recruitment – Latest Issue of Vietnam Briefing Magazine
Moving forward, foreign firms operating in Vietnam may need to adjust their HR processes and procedures to meet the demands of this new labor market. They should also be aware of alternative, low-risk ways to access Vietnam’s labor market that can give them an edge entering Southeast Asia.
In this issue of Vietnam Briefing Magazine, Dezan Shira & Associates cover what’s happened to Vietnam’s labor market, employee expectations moving forward, and how foreign firms can go about recruiting staff. It also addresses Global Staffing Solutions and how foreign firms can start operating in Vietnam without putting boots on the ground.
Hungary – Guidelines from Hungary’s Curia on employer’s timesheets
Employers have to keep records of working time. These must be updated on a daily basis and must enable identifying the start and end time of regular and overtime work and stand-by duty. The aim of this obligation is to prove that the rules concerning working time and rest periods are observed in case of inspection by the labour authority or a claim by an employee.
The Guide to Employment Visas for Foreign Workers in Indonesia
Indonesia has introduced new reforms on foreign employment visas through the introduction of the Omnibus Law, also known as Law No. 11 of 2020 on Job Creation.
The recent changes include the introduction of a foreign worker utilization plan — a document that details the specific work, position, and length of employment the foreign employee will undertake in Indonesia.
Further, employers must submit an annual report to the Ministry of Manpower that covers the scope of the foreign worker’s employment, and the types of technology or knowledge transfer being implemented.
Vietnam: Foreign Worker Reports are Due January 5
In December of 2020, the laws pertaining to employing foreign workers changed. Firms employing foreign workers are now required to lodge reports every six months. Here’s what you need to do to satisfy this requirement.
Who should complete a foreign worker report
Any employer, either foreign or domestic, that hires foreign workers with work permits need to complete a foreign worker report.
HR UPDATE: CENTRAL ASIA
What Defines A Good Leader – And Can You Learn To Be One?
How To Gain Clarity About Your Career Needs
Finding the right person for the job – and the right job for a person – is a bit like match-making. Work has to do with purpose, it's personal. This is why you can only thrive in an organization that’s right for you. And how do you find that? By understanding your career needs and communicating them.
New Rules, New Players – Uzbekistan
CT Executive Search Press Release
As the rules of international business change, new players emerge.
According to the Asian Development Bank, Uzbekistan's GDP is expected to grow by 4.0% in 2022 and 5.0% in 2023. The country is also one of the biggest producers of gold, with substantial deposits of silver, strategic minerals, gas, and oil.
So, what opportunities lie in wait for European investors, and how will the country’s economy and job market evolve in the coming years?
These are the questions that were addressed at the webinar titled “Uzbekistan – An Overview Of The Economy, Investment And Labour Market”, organised by CT Executive Search, in collaboration with AHK Central Asia.
“New players have indeed emerged on the global market. As Uzbekistan gains more attention, we have received an increase in the number of requests to recruit candidates to top management positions of companies currently setting up active operations in the production, agricultural, IT and manufacturing sectors. For qualified candidates interested in executive positions, this is definitely a market to now consider – the salaries are competitive. Our highly qualified and experienced team of HR experts is always ready to provide high quality recruitment services to all companies looking to do business in Uzbekistan.” - says Christian Tegethoff, Managing Director, CT Executive Search.
Slovakia: Labour Code amendment that will affect every employer
Extensive employer information duty and other important changes from 1 November 2022.
Slovakia's Labour Code amendment primarily aims to implement two European Directives (No 2019/1152 and No 2019/1158).
The amendment introduces many changes to the Labour Code, but the most important is the new information duty of employers, which must be fulfilled in a rather broad scope. Employers are now obliged to provide employees with written information on working conditions and terms and conditions of employment.
Hong Kong’s New Visa and Property Tax Regulations to Attract Foreign Talents
Hong Kong is lowering property taxes and relaxing visa requirements for non-permanent residents to draw in international talent and resurrect the city’s reputation as a global financial center. The new measures address the current workforce shortage while simultaneously developing the local talent base and closing the skills gap.
Romania: Substantial amendments to the Romanian Labour Code
Romania's Labour Code has been amended following the transposition into national law of a series of European Directives.
Among the most important amendments:
- New mandatory provisions are to be included in individual employment contracts.
- With regard to the existing right of employees to work for different employers under different employment contracts, the lawmaker now requires that their working hours cannot overlap.
- A prohibition on establishing a new probation period if, within 12 months, a new individual employment contract is concluded between the same parties for the same position and with the same duties.
CENTRAL ASIA HAS MOVED UP THE PRIORITY LIST
In terms of recruitment, what kind of assignments are you mandated with in Uzbekistan?
For most of our clients, Uzbekistan is primarily interesting as an export destination. The country is a major buyer of agricultural technology and also offers potential for a range of other consumer and capital goods.
Accordingly, our customers with business connections to Uzbekistan mainly pursue sales and service activities, the construction of production plants is still the exception. However, we expect that Uzbekistan, with its almost 35 million inhabitants and a favorable geographic location, will become a more important production location for the European economy in the future.
The west is a prefered economic partner in Uzbekistan
Hovsep Voskanyan, Delegate of German Business in Central Asia (AHK Central Asia)
How is the German economy represented in Uzbekistan today?
We have around 225 German companies on site, and their number is growing slowly but surely. Most maintain sales offices. But there is also a significant number of German companies currently investing in the region, among which are Knauf with its three plants in the building materials sector, Lemken and Claas in the agricultural technology sector, Volkswagen and MAN with production in Bukhara. Deutsche Kabel AG operates a plant in Tashkent and recently opened another location where fiber optic cables are produced.
Cambodia Opens Foreign Employee Quota Application for 2023
Cambodia has opened the foreign employee quota application for businesses for 2023. Businesses that want to hire a foreign employee must apply for this quota before obtaining a work permit for the employee.
Under the quota system, only 10 percent of a Cambodian company’s total workforce can be foreign nationals. The deadline for the foreign employee quota application ends at the end of November 2022.
Uzbekistan: A LOT HAS BEEN DONE IN THE LAST FIVE YEARS
Falk Porsche, Owner and shareholder, Falk Porsche Technik GmbH and Deutsche Kabel AG
What would you recommend to an international company interested in the Uzbek market?
The global production and supply chains are being redefined today due to the changing geopolitical situation. Entrepreneurs are looking for alternative suppliers and growing markets. We are ready to share our experience with regard to investment in Uzbekistan. This applies in particular to copper and glass fiber products, as well as various steel wire products.
THE INDO-GERMAN MAGAZINE JULY/SEPTEMBER 2022
A Guide to Minimum Wage in India in 2022
The minimum wage in India has for a long time been regulated under the purview of the Minimum Wages Act, 1948. This will now be subject to the provisions of the Code on Wages Act, 2019, which was notified in August 2019.
In fact, the Code on Wages Act replaces four labor regulations – Minimum Wages Act, 1948; Payment of Wages Act, 1936; Payment of Bonus Act, 1965; and Equal Remuneration Act, 1976.
The new wage code prohibits employers from paying workers less than the stipulated minimum wage. Further, minimum wages must be revised and reviewed by the central and state government at an interval of not more than five years.
Lithuania: Non-payment of wages the most common reason for labour disputes
The State Labour Inspectorate (SLI) has published the semi-annual report on the activities of the Labour Dispute Commissions (LDC) for the first half of 2022. Most of the requests to the LDC concerned workers’ remuneration.
The LDC is a governmental, pre-judicial body in Lithuania to which the parties to a labour dispute can turn. According to the published information, the LDC issued a total of 6 157 (in the second half of 2021, the number was still more than 6 800) decisions on requests submitted by claimants, of which 4 647 (about 75%) decisions concerned remuneration disputes.
The AHK India 66th Annual review
AHK India 2022 Annual Review
Incorporated in 1956, the Indo-German Chamber of Commerce is the primary contact for Indian and German companies who want to do business with each other. In addition, we act as a voice for the Indo-German business community at various levels. Our Annual Review covers all the important and relevant activities of the Chamber over the previous year covering all the Chamber events, Trade Fairs, IGTC, and much more.