LKN Global

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions to discuss the regional economy, cooperation, trade and investment.

It represents approximately 47% of the Worldwide Gross National Product, 57% of worldwide trade, and possesses almost half of the World population.

APEC talks provided great trade opportunities in Peru in 2008 and even more opportunities and trade promotion took place in 2009 as Singapore hosted APEC. With the U.S. as is member of APEC, the U.S. will host the APEC meeting in 2011, creating opportunities for U.S. businesses.

Australia (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Australia joined APEC in November 1989.

A Free Trade Agreement exists between Australia and the United States. Under the FTA, trade in goods and services as well as foreign direct investment has continued to expand. More than 99% of U.S. exports of manufactured goods are now duty-free. It will also eliminate tariffs within 10 years of entry into force on textiles.

The country is a member of the Pacific Islands Forum (PIF), which is an inter-governmental organization which aims to enhance cooperation between the independent countries of the Pacific Ocean and represent their interests.

Beijing has agreed to explore the possibility of a bilateral free-trade agreement, which would be the second FTA China would have with a developed country. The other is New Zealand.

Expansionary fiscal policy, as well as the deregulation of many domestic markets, has fostered significant increases in domestic consumption in recent years. The government has encouraged domestic consumption by overhauling the tax system and cutting interest rates.

Australia has vast amounts of natural resources. It is the world's largest exporter of coal, which is 30% of the global total, has almost 40% of the world's recoverable uranium, and may become the second largest exporter of liquefied natural gas by 2015 . It is a major producer of copper, iron ore, manganese, nickel, lead, limestone and gemstones. Huge investments in mining have been planned but some are now being scaled back as government officials exert more control on the inflows of foreign capital. Farmers are specialized in wheat and sheep-rearing, which account for more than half of the sector's export revenues.

The government has ratified the Kyoto protocol on the environment. It is also playing a much more active role in new environmental initiatives in the hope of improving global climate changes.

The population aged 65 years and over will exceed 3.5 million by 2015, which opens opportunity to foreign companies seeking this demographic .

Brunei Darussalam (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Brunei joined APEC in November 1989.

The country is a member of ASEAN Free Trade Area (AFTA), which is a trade bloc agreement supporting local manufacturing in all ASEAN countries.

Per capita GDP places Brunei among the World Bank's high-income non-OECD group of countries, with substantial income from overseas investment supplementing income from domestic sources. Under a currency board arrangement, the exchange rate of the Brunei dollar is maintained at par with the Singapore dollar .

Brunei would like to turn itself into a major shipping hub and diversify away from hydrocarbons into areas like tourism. The country boasts unspoiled tropical forests, beaches, shipwrecks, the world's largest palace and gilded mosques, among other things and energy-intensive industries like petrochemicals, oil refining and aluminum smelting.

The government strongly encourages foreign investment. New enterprises that meet certain criteria can receive pioneer status, exempting profits from income tax for up to 5 years, depending on the amount of capital invested. The only significant taxes are on corporate profits. There is no personal income tax or capital gains tax .

The country is located close to vital sea lanes through the South China Sea, linking the Indian and Pacific Oceans and thus it is potentially well-positioned to take advantage of international shipping through the region if it can develop into a shipping hub.

The economy basically consists of natural resources of minerals, petroleum deposits, natural gas, and carbon gas. It is the number one ranked country for exportation of liquid gas.

To diversify the economy, the Brunei Economic Development Board is supporting several projects and encouraging foreign investment. Initial construction on a US$400 million methanol plant, fed by natural gas, was started in 2007 and the plant is expected to come on line in 2010. There are plans to build a power plant in the Sungai Liang region to power a proposed aluminum smelting plant. A giant container hub at the Muara Port facilities is also in the planning stage .

Canada (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Canada joined APEC in November 1989.

It is a member is NATO (The North Atlantic Treaty Organization), which provides a forum in which the USA, Canada, and European countries can consult together on securities issues of common concern and take joint action in addressing them.

The country is a part of the North American Free Trade Agreement (NAFTA), which helps facilitate trade with Mexico and the United States. It is the world's largest free trade area, which now links 444 million people producing $17 trillion worth of goods and services.

Canada occupies virtually the entire northern half of the North American continent sharing border with the United States of America.

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region.

British Colombia’s coal industry has made a dramatic comeback since China began to import coal in 2004. Two new mines have opened and seven more are planned. Altogether, the province has 25 billion tons of proven coal reserves .

To help the economy new spending and tax breaks will be implemented in 2009 and 2010 valued at US$43 billion. Most of the money will be spent to improve railways, roads and ports. Even more money will be allocated to buy mortgage-backed securities from banks, in hopes that they will boost lending. Finally, more than US$2 billion will be spent to improve existing housing and build new units.

Canada is ranked second in crude oil reserves. The country’s total oil production is predicted to increase to 4mb/d by 2015 in comparison to 2.5 mb/d in 2003. The oil sector has created several mergers and acquisitions. Encana Corporation is located in Canada and one of the largest oil production companies in North America.

Canada has a relatively liberal business environment though there are restrictions on foreign ownership in selected industries. The province of Ontario has emerged as the leading producer of cars in North America, replacing the U.S. state of Michigan.

In the mineral sector, Canada is the world's largest producer of zinc and uranium and has substantial reserves of nickel, potash, cobalt, silver and gold . Asian companies particularly Chinese and South Korean, are investing heavily in Canada's mineral and energy resources.

As Canada's baby-boomers enter retirement, the dependency ratio will rise and the working-age population will shrink without a net inflow of migrants . Therefore those looking to migrant to Canada may be able to do so with more ease.

Chile (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Chile joined APEC in November 1994.
Chile currently holds a number of free trade agreements (FTAs) with various countries, such as Canada, Mexico, South Korea, the United States, as well as with the European Union. The FTA with the US took effect in 2004, and will lead to completely duty free bilateral trade within 12 years. Chile has one of the most open trade regimes in the world. The uniform applied tariff rate for virtually all goods is 6%.
Chile has the highest per capita private final consumption expenditure in South America. By 2010, the GDP of Chile will be US$9,589.

Chile’s economy depends heavily on its mining sector which accounts for 40% of the country’s export income. Chile’s Codelco, is the world’s number one copper producer and Chuquicamata, second largest copper mining complex in the world, is expected to produce 565,000 tons of copper in 2010. (Reuters)

Chile occupies the greater part of South America's Pacific coastline, with Argentina to its east over the Andes mountains, and Peru and Bolivia to the north. This facilitates the ease of trade and transportation.

Policy makers have also been trying to channel more capital into non-traditional areas such as seafood and wine. Wine exporters are gradually becoming more competitive while the country's sheep farmers plan a big expansion to capture a larger share of foreign markets.

People’s Republic of China (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. China joined APEC in November 1991.

China is also a member of the World Trade Organization (WTO) since 2001.

By 2015, the country will have over 146 million people over the age of 65, up from just 45 million in 1980.This creates foreign investment opportunities for companies with this demographic as its target market.

China's GDP should rise by 8.5% in 2009 while growth of 9.0% is expected in 2010. Stronger domestic demand will be the main economic driver. In 2010, China could surpass Japan to become the world's second largest economy.

China is the world's biggest producer and consumer of cotton and coal. Farm output is expected to rise by about 3% in 2009. Rice is the main food crop, but tea, sugar and fiber crops are all important cash earners. With its many resources, China is Africa’s third largest trading partner.

Due to his large population, it is the world’s third largest trading nation and it has the most cell phone subscribers worldwide. The country has 627.26 million subscribers in total, or a 62.20% penetration rate. China Mobile, China Unicom, and China Telecom are the main companies used in China .

China plans to become a major player in the global car market. The Chinese government has designated the automotive industry as a pillar industry for the country's economic growth. It has a target that vehicles made by Chinese manufacturers will account for more than half of China's vehicle sales by 2010.

China is the world's second largest consumer of petroleum products after the US. The country's expanding energy needs represents more than a third of the world total increase in demand. Between 2005 and 2010 the government has set a goal of increasing energy efficiency by 20%. Recent offshore oil exploration interest is focused on the Bohai Sea area, believed to hold more than 1.5 billion barrels in reserves, and the Pearl River Mouth area. The country has also been acquiring interests in exploration and production abroad. This includes oil concessions in Kazakhstan, Venezuela, Sudan, Iraq, Iran, Peru and Azerbaijan .

Hong Kong, China (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Hong Kong joined APEC in 1991.

Hong Kong occupies an important strategic position at the mouth of the Pearl River where it conducts an active trading business on behalf of the People's Republic of China. Hong Kong, which is now part of China, includes the Kowloon island area and the so-called New Territories. It also has the world's largest cargo airport and the second largest container port. Over the past decade, the economy has been successfully transformed from a manufacturing center to a service-based economy. Total trade is more than four times GDP, underlining Hong Kong's dependence on this component .

Hong Kong is regarded as one of the world's freest economies. It has no minimum wage law and the government opposes the introduction of one. Instead, officials advocate a voluntary wage scheme for employers of low-paid workers. The government is providing loan guarantees to small and medium-sized businesses faced with tighter credit conditions. There is no significant public debt and no tax on dividends, capital gains or on profits and earnings from outside Hong Kong. Personal and corporate income taxes were cut slightly in 2008.

Services account for around 90% of GDP and drive the economy on the supply side. The steady stream of multinational and Chinese companies establishing corporate offices in Hong Kong is likely to be sustained. The Mainland-Hong Kong Closer Economic Partnership Arrangement (CEPA) has been expanded to cover 40 service areas. These measures become effective in 2009 and allow Hong Kong companies to set up businesses and expand their services on the mainland .

Indonesia (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Indonesia joined APEC in November 1989.

The country is a member of ASEAN Free Trade Area (AFTA), which is a trade bloc agreement supporting local manufacturing in all ASEAN countries.

Indonesia is a member of the Organization of Petroleum Exporting Countries (OPEC), which secures an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital to those investing in the petroleum industry. Indonesia is the only Asian member of OPEC and currently has proven oil reserves of 3.7 billion barrels, down 13% since 1994. Production has been falling in recent years due mainly to the ageing of oil fields. The new Cepu field in Java is estimated to hold reserves of at least 600 million barrels of oil. However, despite new field and other smaller discoveries, Indonesia's oil production is not likely to rise markedly due to the continuing decline of mature fields .

Indonesia is the largest Muslim state in the world and is one of the most geographically dispersed nations . This creates opportunity for foreign looking for new, diverse markets.

The service sector accounts for more than two-fifths of GDP. The sector grew by more than 7% in 2009. Transport, communications and utilities drove the expansion. The boom in utilities is due mainly to a government program to switch to gas from more expensive fuels. Agriculture employs more than two-fifths of the work force. Indonesia is the world's third largest producer of rice and the leading producer of palm oil .

Tax waivers were introduced in 2009 to support private consumption and selected industries. The corporate tax schedule will be cut by three percentage points in 2010 in an effort to boost investment .

Indonesia saw growth of 4.0% in 2009. The World Bank expects growth of around 5.4% in 2010 while the IMF forecasts gains of 4.8%. In 2009, the economy was driven by strong gains in private consumption and a surge in post-election spending. Stronger prices for key commodity exports should provide an additional boost to the economy .

Japan (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Japan joined APEC in November 1989.

The country’s leading automakers, Honda and Toyota, continue to expand market share. Japan is also the world's largest maker of machine tools.
Japan contains almost no oil reserves of its own, but it is the world's third largest oil consumer after the U.S. and China. The country's goal is to cut oil consumption to 40% of total energy consumption by 2030 . Corporate restructuring led to improved profitability in many industries. This allowed the initial export-led upturn to develop into a full-fledged expansion driven by domestic demand.

Republic of Korea (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region.

By 2010, the South Korea- United States free trade agreement will eliminate current barriers to trade in industries such as manufacturing. South Korea has emerged as China's largest foreign direct investor, as Korean companies have shifted basic production to China. China’s integration has helped to boost Korea's exports and growth prospects. The manufacturing sector depends heavily on products such as cell phones, semiconductors, and cars.

The share of the population over age 65 is increasing quickly the number should double in the next two decades. Long-run projections indicate a steep rise in the old-age dependency ratio, making Korea one of the oldest countries in the world by 2050 . This creates opportunity for foreign companies with this demographic or target market in mind.

In 2009, Seoul has pushed through several reforms that could attract more foreign investment. Corporate tax rates will be cut in 2010 in an effort boost job creation and competitiveness. The present government has also committed itself to providing more support for small and medium-sized firms and cutting red tape.

Malaysia (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Malaysia joined APEC in November 1989.

The country is a member of ASEAN Free Trade Area (AFTA), which is a trade bloc agreement supporting local manufacturing in all ASEAN countries. Malaysia, one of the largest countries in the Asia-Pacific group, comprises the 11 states of Peninsular Malaysia, where the bulk of the population lives.

Manufacturing makes up 27.9% of GDP and employs around 20% of the work force. The sector is dominated by export-oriented producers of electronics and products .

To encourage investment, the government has granted a ten-year exemption on venture capital and introduced investment incentives in certain regions. Additional measures were announced in 2008 to ease rules on foreign investment in property and industrial land. This was followed in 2009 by the elimination of local-equity requirements for investors in various parts of the service sector. The government's overriding goal is to reach first-world status by 2020. To do so, officials hope to encourage a shift to higher value-added sectors but this will require stricter enforcement of intellectual property rights .

More than US$13 billion has been committed by various government bodies to a plan to create a new metropolis at the southern tip of the country in Iskandar. Another US$2 billion is expected to be committed in the next two years, including nearly US$300 million in retail investment. Singapore, whose business district is only half an hour's drive from the project, is the biggest investor .

Malaysia has proven oil reserves of 5.5 billion barrels. Nearly all of this oil is located in offshore fields. Petronas, the state-owned oil company, has embarked on an international exploration and production strategy. Petronas has invested in oil exploration and production projects in the Middle East and Asia and has taken a stake in Rosneft, the Russian oil producer .

Mexico (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Mexico joined APEC in November 1993.

Mexico shares a border almost the length of 2,000 with the United States of America, which facilitates ease of trade and transportation between the two countries. It also has coastlines on both the Atlantic and the Pacific and embraces a wide range of territorial types.

Mexico is a member of NAFTA, which is the North American Free Trade Agreement together with the United States and Canada. It is the world's largest free trade area, which now links 444 million people producing $17 trillion worth of goods and services.

Between 2008 and 2010, Mexico is predicted to be the wealthiest country in Latin America in basic GDP terms due to its expanding middle class, increased access to consumer credit and sales of consumer goods and services. By 2010 Mexico will have the highest GDP per capita Latin America with US$10,159. By 2020, the Mexican population will rise to 57 million . This makes Mexico very attractive to foreign investment. Following a wave of reforms, Mexico's banking system is solid and profitable while the regulatory framework is close to best practice.

Mexico has the third-largest amount of conventional crude oil reserves in the Western Hemisphere. Pemex does not have sufficient funds available for exploration and investment, owing to high financial burdens placed upon the company by the Mexican government so they are therefore seeking foreign investment. Proven reserves have increasingly been dropping and the country could become a net importer in just a few years, which open the opportunity for foreign markets to expand in this sector.

New Zealand (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. New Zealand joined APEC In November 1989.

The country is a member of the Pacific Islands Forum (PIF), which is an inter-governmental organization which aims to enhance cooperation between the independent countries of the Pacific Ocean and represent their interests.

New Zealand signed a free-trade agreement with China in 2008. The country is the first to conclude a comprehensive free-trade agreement with China. China will cut tariff barriers for New Zealand's farm exports, which make up half of its annual output. New Zealand is well integrated into the global economy.

In 2007, Air New Zealand was a part of the first commercial trial of a bio-fuel powered aircraft. This helped the country in its development of sustainable tourism . The country's tourist industry is important, employing 12.8% of the work force. Revenues account for nearly 18% of foreign exchange earnings. The government forecasts an increase in tourism expenditures of 23.3% by 2015. Retail sales showed an increase in the second half of 2009 after five consecutive quarters of decline.

New Zealand is reasonably well endowed with mineral resources, which include sulfur, iron ore and iron sand, titanium, gold, silver, limestone and dolomite. It also has ample energy reserves which mainly consist of coal and lignite, along with a massive offshore gas field. As this field is developed with more foreign investment, New Zealand should have an exportable surplus of energy supplies.

With ample reserves of coal and lignite and a massive offshore gas field, New Zealand should have an exportable surplus of energy supplies. It relies mainly on imports for its oil supplies while exporting both gas and coal. However, domestic oil production has received a boost from increased output at the Tui oilfield. Proved oil reserves are 53 million barrels. At least 65% of all electricity produced comes from hydroelectric installations .

Papua New Guinea (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Papua New Guinea joined APEC in November 1993.

The country is a member of the Pacific Islands Forum (PIF), which is an inter-governmental organization which aims to enhance cooperation between the independent countries of the Pacific Ocean and represent their interests.

It is a member of the Melanesian Spearhead Group (MSG), which is a sub-regional trade treaty established to foster and accelerate economic development through trade relations.

The government has cut income tax rates, given tax incentives for tourism and raised infrastructure tax credits for agriculture. Tariff rates were also lowered. Papua New Guinea presently has a very liberal trading system.

The oil and gas sector has grown strongly as the Moran oil field reached full production. Papua New Guinea has proven oil reserves of 240 million barrels, and proven natural gas reserves of 12 trillion cubic feet (Tcf). The country has four huge and potentially oil-filled basins offshore .

The profitability of the commercial banks is satisfactory and the asset quality of all banks has improved, reflecting improvements in credit procedures and the overall cautious approach to new lending. The rugged terrain raises the costs of transportation infrastructure with less than 4% of roads are paved; however this creates opportunity for foreign investment .

Philippines (top)

Russia (top)

The country is also a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Russia joined APEC in November 1998.

With its large population and economic size, Russia is the 11th largest economy worldwide.

Russia is a member of the WTO (World Trade Organization). With its strong economic growth and an increasing retail market the country has become attractive to foreign investment.

Until the end of 2011, the government plans to use a state aid package, which involves loans to banks and companies, to stabilize the economy and increase growth. The country also seeks foreign investment to assist in development.

There are massive mineral and forest resources with iron ore, copper, aluminum, manganese, salt and precious metals all being produced, though facilities are in need of modernization and foreign investment. Raw materials, such as oil, natural gas, and metals, make up more than two-thirds of all export revenues.

Oil and gas account for 65% of exports. Russia is the world's 8th largest exporter of oil. It has proven oil reserves of 79 billion barrels. New fields will produce almost all of Russia's annual oil growth in the next five years and will likely produce more than half of the country's oil in 2020. Russia holds the world's largest natural gas reserves, with 1,529 trillion cubic feet. The country is the world's largest natural gas producer, as well as the world's largest exporter .

Singapore (top)

Chinese Taipei (top)

The country is also a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Taipei joined APEC in November 1991.

Taipei was admitted to membership in the World Trade Organization (WTO) in 2001, concurrently with China's admission. Taipei was admitted to the WTO as a "developed country", which imposes more stringent requirements for reducing barriers to foreign competition.

Taipei's legislature passed the Petroleum Administration Act in 2001, allowing foreign firms to acquire stakes in Chinese Petroleum Corporation (CPC), Taipei's national oil company and the dominant player in all sectors of the country's petroleum industry, on an equal basis with domestic investors beginning in 2004.

Tariffs and other trade barriers have been sharply reduced and the enforcement of intellectual property rights has been strengthened. The government has also moved to liberalize the financial industry by allowing foreign investment in banks and gradually loosening capital controls.

Taipei is one of the world's leaders in the production of machine tools with output valued at more than US$3 billion per year. The manufacturing sector is dominated by computer production, electronic components and telecommunications. Manufacturers produce 80% of the world's laptop computers and 40% of the world's liquid crystal displays (LCDs). Taipei is also home to the world's two largest contract chip makers .

There are no direct transportation links between Taipei and mainland China. Passengers and cargos must transit Hong Kong, China or Macau, China. Direct transportation links with the mainland would facilitate the emergence of Taipei as a research and development, logistics and financial center, which could be considered a foreign investment opportunity. Taipei and Beijing has developed a co-operative relationship in the field of energy to explore a 6,000-sq mile area in the Tainan Basin of the Taipei Strait.

Agriculture accounts for only a small portion of GDP and about 8% of employment. Farmers are producing sugar, yams, rice, tea and bananas, as well as vegetables and fruit .

Thailand (top)

United States of America (top)

The country is also a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. The United States joined APEC in 1989.

It is a member is NATO (The North Atlantic Treaty Organization), which provides a forum in which the USA, Canada, and European countries can consult together on securities issues of common concern and take joint action in addressing them.

The United States is a part of the North American Free Trade Agreement (NAFTA), which helps facilitate trade with Mexico and Canada. It is the world's largest free trade area, which now links 444 million people producing $17 trillion worth of goods and services.

The U.S. is a federation of 50 states which spans the land mass between the Pacific Ocean and the northern Atlantic. In the north it borders on Canada, and in the south with Mexico.

Agriculture accounts for just 1.0% of GDP and is predominately large scale and efficient. The US is a major exporter of foodstuffs and processed foods. The country's manufacturing sector contributes 12.1% of GDP and leads the way in the information technology revolution. Prominent industries include aerospace, telecommunications, chemicals, electronics and computers. The most important activities in the service sector include real estate, transport, finance, healthcare and business services. Congress expects to enact a series of financial reforms in the near future in hope of strengthen the service market even further.

The USA has 21.8 billion barrels of proven oil reserves, which is the eleventh highest in the world. Domestic oil exploration and development spending by US oil companies has rebounded as oil prices rise. Overall, production from deepwater areas of the Gulf of Mexico has been increasing rapidly, with deepwater wells accounting for about two-thirds of total US Gulf output .
Most growth and economic activity takes place in metropolitan areas. An estimated US$225 billion is needed each year for upkeep however funding is difficult to find, therefore creating opportunity for foreign investment .

There are several tax advantages in individual states. States such as Alaska, Florida, Nevada, South Dakota, Texas, Washington, Wyoming New Hampshire, and Tennessee offer no the advantage of no income taxes. Instead of paying the state approximately 7-15% of your income, you can use that money for an investment. The top six states with the lowest Property Taxes are Louisiana, Alabama, West Virginia, Mississippi, Arkansas, and Oklahoma. The state of Delaware has low income tax levels and provides tax incentives to US corporations. The state also has partnership taxation laws which make it favorable to non-US entities, generally allowing taxation at 0% where the partners are registered in non-US jurisdictions .

Vietnam (top)

The country is a member of APEC, which is the premier Asia-Pacific economic forum with the primary goal to support sustainable economic growth and prosperity in the Asia-Pacific region. Vietnam joined APEC in November 1998.

The country is a member of ASEAN Free Trade Area (AFTA), which is a trade bloc agreement supporting local manufacturing in all ASEAN countries.

Vietnam is forecasted one of the world's top ten tourist destinations by 2016. The country plans to receive 6 million foreign visitors by 2010 to earn US$4.0 billion from tourism. Vietnam's tourism sector is projected to grow 7.5% per year during 2007-2016. Corporate tax rates were cut by 30% in 2008 for small and medium-sized enterprises as part of the effort to stimulate the economy. The government also approved new laws on securities and the operation of enterprises which will improve the business environment. Further reforms will be introduced in 2010 .

Under the terms of its commitment to WTO membership, the government will now allow foreign ownership of firms in the service sector. WTO membership offers greater opportunities for exporters, benefiting firms in the clothing, footwear and marine products industries.

Ho Chi Minh City alone accounts for 17% of national output, 30% of foreign investment and 40% of exports, however only 9% of population resides here. Public investment is being channeled into infrastructure, including roads, ports and power generation facilities. The government also plans a US$33 billion rail link between Hanoi and Ho Chi Minh City .

Vietnam has 4.8 billion barrels of proven oil reserves. The country has six operating oil fields. The $1.5 billion Dung Quat Refinery, located in Quang Ngai province, has a capacity of approximately 140,000 bbl/d. A second refinery project is under consideration at Nghi Son, north of Hanoi in the Thanh Hoa province. The Vietnamese government has estimated the 150,000 bbl/d plant will cost US$3 billion .

Vietnam's youthful age structure offers a potential “demographic dividend” and consumer boom if sufficient jobs can be created. Foreign markets can look at this as an opportunity for investment and expansion.

Major exports include coffee, cashew, pepper and rubber. There is ample rain and an extensive network of waterways to develop an expansive aquaculture system that supports the country's very large fish and seafood export industry. Rice exports have been targeted to reach six million tons in 2009 .

Manufacturing accounts for 21.7% of GDP and employs 17.0% of the work force. Output began to rise slowly in the last quarter of 2009. Nike is one of the country's largest employers with about 160,000 Vietnamese making shoes and apparel. The company accounts for about 9% of Vietnam's manufactured exports and is the second largest supplier of Nike-branded products after China .