Asean Morning News For May 8

The most comprehensive #Asean Morning News Roundup published

Asean Morning News For May 8

Asean morning newsAsean Morning News

Compiled by AEC News Today    @aecnewstoday

 

Deficient airports limiting Asean tourism potential
Poor infrastructure and rigid policies are still hampering borderless travel in the Association of Southeast Asian Nation (Asean) region.
— Philippine Daily Inquirer

ASEAN members expect benefit from Belt and Road Initiative
The governmental officials, representatives for non-government organizations and media insiders from the Association of Southeast Asian Nations (ASEAN) expressed their expectations for more benefit to their countries from the Belt and Road Initiative recently, ahead of the upcoming Belt and Road Forum for International Cooperation.
— GMA News

Aso announces ¥4 trillion ASEAN currency scheme
The government announced Friday a plan to establish a currency swap scheme to offer funds of up to ¥4 trillion to the Association of Southeast Asian Nations in a bid to provide greater financial cooperation to the regional bloc.
— Eleven

Asean+3 to create infra bond markets
Members of the Association of Southeast Asian Nations, plus Japan, China and South Korea (Asean+3) are looking into ways of developing a local currency bond market that would use the countries’ “large pool” of savings to help finance the infrastructure requirements in the region.
— The Manila Times

World Economic Forum on ASEAN to open in Cambodia
The World Economic Forum on ASEAN 2017 (WEF ASEAN 2017), slated for next week in Phnom Penh, is expected to further promote sustainable development, peace, stability and prosperity in the region.
— VietnamPlus

Asean member-states to nominate 10 biodiversity heroes
The search is on for the 10 Asean Biodiversity Heroes to represent Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
— BusinessMirror

World can’t get enough soy, top growers ship at record pace
he world can’t seem to get its fill of soybeans. Exports from the US and Brazil, the world’s largest growers, are the highest ever for this time of year, and demand is poised to eclipse earlier government forecasts for a record this season.
— Gulf-Times

ADB Establishes Fund to Promote High-Level Technology – Japan First Donor
The Asian Development Bank (ADB) will establish a trust fund to promote the integration of high-level technology (HLT) and innovative solutions in the design and implementation of its projects in Asia and the Pacific. The Government of Japan will be the first donor to the fund.
— Asian Development Bank (media release)

Asean Design & Business Center to help Thai businesses in ASEAN market
The Ministry of Commerce believes the Asean Design & Business Center can help Thai businesses be successful in Southeast Asia.
— NNT

CLMVT cement tourism partnership
CAMBODIA, Laos, Myanmar, Vietnam and Thailand have reaffirmed their commitment to strengthening their cooperation in promoting tourism.
— The Nation

Sound risk guidelines set priorities for secure cloud ventures
Asian governments are embarking on digital transformation initiatives – such as Singapore’s Committee on the Future Economy, ASEAN’s ICT Masterplan 2020, the Digital Thailand 4.0 and Digital Malaysia roadmaps, and China’s 13th Five-Year Plan – to ready their respective economies for an innovation-driven future.
— Network Asia

 

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Cambodia morning newsCambodia Morning News

Compiled by Vat Vin    @vin_vat

 

Market-based approach to development
Phav Daroath recently became the first Cambodian to be selected for the Forbes 30 Under 30 Asia list for social entrepreneurship.
The Phnom Penh Post

Tech Firms Warn of Weak Intellectual Property Protections
Outdated legal protections for intellectual property in Cambodia are likely to put off potential innovators, according to some in the tech industry who say research and development here is exposed to the risk of competitors simply copying ideas and designs.
The Cambodia Daily (paywall)

Japan to Contribute $200M to Second Sihanoukville Seaport
The Japanese government has agreed to loan Cambodia $200 million to develop a new seaport in Preah Sihanouk province in anticipation of increased shipping traffic on the coast, according to Cambodian Transport Minister Sun Chanthol.
The Cambodia Daily (paywall)

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Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Indonesia Sues Thailand’s PTT, PTTEP for $2b Over Oil Spill
The Indonesian government is suing Thailand’s state-owned PTT and PTT Exploration and Production for around $2 billion for alleged damage to the environment from an oil spill in the Timor Sea eight years ago.
— Jakarta Globe

Program to help Indonesia’s micro and small businesses overcome barriers to growth
The Mastercard Center for Inclusive Growth has announced a partnership with Mercy Corps to help entrepreneurs in Malang City and Malang District overcome barriers to growth, join the formal economy and build more resilient and sustainable businesses.
— Enterprise Innovation

Indonesia to Ask UN Support to Categorize Illegal Fishing as Transnational Crime
Maritime and Fisheries Minister Susi Pudjiastuti said on Saturday (06/05) that she will ask the United Nations to support efforts to categorize illegal, unreported and unregulated fishing as a transnational crime.
— Jakarta Globe

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Lao PDR morning newsLao PDR Morning News

Compiled by Vat Vin    @vin_vat

 

WFP injects more than US$85m to support sustainable development
The World Food Programme (WFP) has granted more than US$85 million (682 billion kip) to help the Lao government achieve the Sustainable Development Goal targets, as well as middle-income country status.
Vientiane Times

Lao power company lauds China’s efforts to push for integrated regional energy system
The Lao state-run energy giant EDL-Gen spoke highly of the efforts made by the State Grid Corporation of China to promote power grid interconnection and interworking with neighboring countries under the Belt and Road Initiative.
Pakistan Observer

Locusts Swarm Northern Laos Wreaking Havoc on Crops
The Northern provinces of Huaphan, LuangPrabang, Oudomxay, Phongsaly and Xieng Khuang have been invaded by locusts, reaching plague proportions despite attempts to control the insects with chemical sprayings.
The Laotian Time

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Malaysia morning news

Malaysia Morning News

Compiled by Vat Vin    @vin_vat

 

Mustapa denies Malaysian economy to crash by September
International Trade and Industry Minister Datuk Seri Mustapa Mohamed has denied an allegation that the Malaysian economy will crash by September.
Malay Mail Online

Exports skyrocket in March, breaching RM80 billion mark
Exports surged in March, breaching the RM80 billion mark in receipts for the first time. The International Trade and Industry Ministry (MITI) described it as a new milestone in terms of export performance for the country.
New Straits Times

Johor attributes federal govt’s support to surging foreign direct investments
The federal government’s support was one of the factors that has enhanced Johor’s position as a choice destination for foreign direct investment (FDI) besides joint initiatives between federal and state governments, the Johor State Assembly was told today.
Malay Mail Online

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Myanmar morning newsMyanmar Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

32 foreign investment proposals under scrutiny
The Myanmar Investment Commission (MIC) says it is scrutinising 32 foreign investment proposals worth US$1.5 billion and 20 domestic proposals worth Ks492 billion.
— Eleven

Five electro-diesel locomotives arrives
Five electro-diesel locomotives with 2000 HP purchased from China arrived at Thilawa Port on 1st May and are unloaded from ship on 6th May.
— Global New Light Of Myanmar

Myanmar ride-hailing firm aims to reach 10,000 drivers by 2017
Kyaw Min Swe, senior director and head of Oway Ride, at an exclusive interview(Photo-Khine Kyaw,Myanmar Eleven)
The mission and vision of Oway Ride, Myanmar’s first ride-hailing application, will not be overwhelmed by the entry of foreign players like Uber and Grab, as the local firm aims to cooperate with nearly 10,000 taxi drivers by the end of this year.
— Eleven

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Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

BOI OKs P1.34-B power project
The Board of Investments (BOI) has approved a P1.34-billion power plant project of Consunji-owned Southwest Luzon Power Generation Corp., noting that this would provide a “crucial backup” to avoid power outages.
— Philippine Daily Inquirer

7% growth likely this Q2 — Pernia
The Philippine economy stands a chance to sustain this quarter the seven percent expansion the country’s socioeconomic planning chief has estimated for the first three months, putting a 6.5-7.5% full-year target in sight.
— BusinessWorld Online

Use of plastic bags, styrofoam now outlawed by Baguio City ordinance
From now on, residents and tourists alike will have to bring personal market bags that are made of paper, cloth or other “less environment-harmful materials.”
— Inquirer.net

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Singapore morning newsSingapore Morning News

Compiled by Stella-maris Ewudolu    @Estee

 

Tencent-backed Garena raises $550m in new funding, rebrands as Sea
Garena has rebranded as Sea Ltd. after Southeast Asia’s most valuable startup secured $550 million in funds to step up a battle with Chinese e-commerce giant Alibaba and other players in Indonesia.
— Deal Street Asia

S’pore to gain importance as trading hub as LNG becomes commoditised
SINGAPORE will have a greater role to play in the liquefied natural gas (LNG) trade as the product becomes more commoditised, according to an IE Singapore official.
— The Business Times

Customs warns of e-mails impersonating officers
Singapore Customs has warned people to beware of e-mails impersonating its officers.
— The Newpaper

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Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

Thai central bank chief welcomes proposal to reduce US dollar transactions
Thailand’s central bank chief said Saturday he welcomed moves to wean Southeast Asia off its reliance on the U.S. dollar, as Japanese representatives put forward a bilateral currency swap proposal on the sidelines of the Asian Development Bank’s annual summit.
— About Nikkei Asian Review

Thailand: Police on hunt for human traffickers who abandoned 35 migrants from Burma
THAI police are on the hunt for suspected human smugglers who abandoned 35 migrants from Burma (Myanmar) in a forest in southern Thailand.
— Asian Correspondent

March’s public debt ups 76.3 billion baht
Thailand’s public debt at the end of March amounted to 6.16 trillion baht, accounting for 42.27 percent of GDP, according to Mr Thirach Attanavanich, advisor to the Public Debt Management Office.
— Thai PBS

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Vietnam morning newsVietnam Morning News

Compiled by John Le Fevre    @photo_journ

 

PM directs 4th Industrial Revolution preparations
Prime Minister Nguyễn Xuân Phúc has ordered all central agencies and local administrations nationwide to make plans for optimum usage of all advantages offered by the 4th Industrial Revolution.
— Viet Nam News

Probe Finds Rampant Log Smuggling to Vietnam
Corruption in Cambodia and demand in Vietnam have in recent months fueled illegal logging at “unprecedented scales” in the protected forests of Ratanakkiri province, according to a new report using undercover investigators.
— Cambodia Daily (paywall)

World Bank helps Vietnam improve transportation, sanitation
The World Bank’s Board of Executive Directors has approved 315 million USD in financing to improve water transport infrastructure and sanitation and transport services in Vietnam.
— VietnamPlus

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Asean Morning News is the most comprehensive selection of reports on what you need to know from around the Asean Economic Community (AEC) published. All articles are hand curated by the team at AEC News Today. It is published M-F by AEC News Today: Governance, not government; policies not politics.

 

 

 

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