Asean Morning News For March 2

Asean Morning News For March 2

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Migrant crackdowns hit ASEAN’s labor flow
Tighter restrictions on foreign labor in Malaysia and Thailand have pushed out millions of migrant workers, driving up wages and threatening a growth model reliant on freedom of movement and cheap labor.
— Nikkei Asian Review

Big Tobacco’s smoke and mirrors in Asean
ABOUT 10 percent of the world’s one billion smokers live in the member countries of the Association of Southeast Asian Nations (Asean). Indonesia and the Philippines have some of the world’s largest smoking populations. In the low and middle-income countries (LMICs) of Asean, more than 560,000 people died due to tobacco-related diseases in 2016 alone.
— Asian Correspondent

Three member states blocking Pakistan’s entry to ASEAN: ministry
The Ministry of Commerce and Textile has revealed that three member countries are blocking Pakistan’s entry to the Association of Southeast Asian Nations (ASEAN) bloc, which is hampering investment and trade relations with member countries.
— Business Recorder

Billionaires of Southeast Asia
Even though it is a developing area, Southeast Asia is already home to tens of billionaires who have built business empires across the region. Having grown their companies by working with their families or as sole entrepreneurs, ASEAN billionaires are at the head of some of the largest corporations of the region.
— Asean Up

ASEAN’s potential ‘yet to be fully realised’: Lim Hng Kiang
Currently the sixth-largest economy in the world and projected to be the fourth- largest by 2030, ASEAN’s potential has “yet to be fully realised”, said Minister for Trade and Industry (Trade) Lim Hng Kiang on Thursday (Mar 1).
— ChannelNews Asia

Malaysia auto sales among worst in Asean in 2017
The sale of vehicles increased in all Asean countries except Malaysia and Brunei last year.
— Free Malaysia Today

IMF: ASEAN COUNTRIES NEED TO PREPARE FOR ARTIFICIAL INTELLIGENCE AND NEW FINANCIAL TECHNOLOGIES
ASEAN countries need to embrace new growth models that put a greater emphasis on domestic demand, regional trade and economic diversification and prepare for technological changes such as increased factory automation, artificial intelligence, biotechnology, new financial technologies and digital currencies, said IMF Managing Director Christine Lagarde at IMF conference in Jakarta on Tuesday.
— CFO innovation

2018 ASEAN Outlook – Key Regional Trends Shaping the Local Business Environment for Multinational Companies – ResearchAndMarkets.com
Everything you need to know about doing business in ASEAN in 2018. Learn the key regional trends shaping the local business environment for multinational companies.
— Business Wire

Asean, EU to meet tomorrow to discuss possible FTA resumption
Further deliberations on the next steps towards the possible resumption of the Asean-EU Free Trade Agreement will take place in Singapore tomorrow.
The Malay Mail Online 

Singapore calls on ASEAN to enhance economic integration
Singapore’s Minister for Trade and Industry (Trade) Lim Hng Kiang said on Thursday all ASEAN members must keep pursuing deeper economic integration and liberalization so that citizens can enjoy the benefits of their collective community efforts.
The Nation

Vietnam scraps ASEAN tariffs, but imports crash – ANALYSIS
Vietnam has cut import tariffs to zero on completely built-up (CBU) vehicles originating from southeast Asia at the beginning of the year – the third cut in as many years as the country moved to fulfil its commitments under the ASEAN Free Trade Agreement (AFTA).
Just-Auto 

Why Turkey will be a great partner for Asean
In his letter “Asean should be wary of inviting Turkey into fold”, published on this page yesterday, Mr Jhon Hope alleges that that Turkey’s partnership with Asean will bring chaos and dispute. This is totally wrong. Reasons why Turkey will contribute much to Asean are many and obvious:
The Nation 

South Korea must talk to US, Asean to boost regional security
South Korea is the region’s second-largest trading partner while the US is the fourth-largest for the 10 members states.
South China Morning Post 

Asian companies ‘planning big shift to automation’
Companies in the Asia-Pacific region are planning to automate 23% of their work on average in the next three years, reducing the need for full-time employees, according to a survey by U.S.-based consultancy Willis Towers Watson.
— Nikkei Asian Review

Stepping up trade is top of agenda at Asean retreat
Asean’s digital economy may have immense potential to grow but it will not flourish if the regional bloc does not facilitate trade and investment between its members, said Trade and Industry Minister (Trade) Lim Hng Kiang.
— The Straits Times

Vietnam chairs GMS and CLV summits
Vietnam will host the sixth Greater Mekong Sub-region (GMS) Summit and the 10th Cambodia-Laos-Vietnam (CLV) Development Triangle Summit in Hanoi from March 29-31.
— VietnamPlus

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Cambodia acts tough toward US with China in its corner
The Cambodian government on Wednesday shooed away the U.S.’s decision to cut aid to the Southeast Asian country, which is strengthening ties with China.
— Nikkei Asian Review

India’s Increasing Cambodia Interest Timely as EU, US Ties Strain (video)
The recent visit to India by Cambodia Prime Minister Hun Sen has only served to highlight the tiny kingdom’s rising allure.
— AEC News Today (video)

Phnom Penh airport train to start on April 10
The new rail line between Phnom Penh International Airport and the railway station on Monivong Boulevard is scheduled to open on April 10, according to government and Royal Railways officials.
— The Phnom Penh Post

See here for more of today’s Cambodia Morning News

 

Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Indonesia Has Chance to Export Buses to Vietnam
Indonesia has the opportunity to export buses to Vietnam after the governments of the two countries have consulted on the enactment of Prime Minister Decree No. 116/2017/ND-CP and Circular No. 04/2018/TT-BGTVT or decisions on the requirements of manufacture, assembly and import of motorized vehicles, motorized vehicle trade, warranty and maintenance services.
— Netral News

Over 313 million SIM cards registered as deadline passes
Following the Communications and Information Ministry’s regulation on mobile phone numbers, prepaid SIM card users were required to register their numbers by Feb. 28.
— The Jakarta Post

Indonesia sees steep rise in Indians’ arrival
The increased air connectivity and attractive packages is driving many Indians to the exotic destination of Indonesia. Latest data shows that there were 4,85,314 Indians visiting Indonesia in the whole year of 2017, which is a significant increase of almost 30 per cent in comparison to 3,76,802 visits in 2016.
— Deccan Chronicle

See here for more of today’s Indonesia Morning News

 

Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Ministry, JICA bolster guidelines on management of urban environments
The Ministry of Natural Resources and Environment and the Japan International Cooperation Agency (JICA) are revising the Environmentally Sustainable City guidelines to improve the management of solid waste and dirty water and reduce pollution.
Vientiane Times

Lao gov’t, int’l NGOs discuss effective cooperation
Lao government officials and international non-governmental organizations (INGOs) met in Lao capital Vientiane Wednesday, reviewing their cooperation and discussing more effective future joint activities.
Xinhua Net 

Tourism and development threaten Laos’ French traditions
It remains a jewel of French colonial architecture, you can savor some of the best croissants and baguettes east of Paris here, and even toddlers still learn the language of their bygone rulers. Luang Prabang, tucked into a river valley in the heart of Laos, survives as one of the last bastions of the old French Indochina.
Nikkei Asian Review (metered paywall)

See here for more of today’s Lao Morning News

 

Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov

 

Malaysia auto sales among worst in Asean in 2017
The sale of vehicles increased in all Asean countries except Malaysia and Brunei last year.
— Free Malaysia Today

Big oil and gas players seen back on assets acquisition this year
Assets acquisition in the oil and gas industry may continue this year as big players seek to increase their capital expenditure while oil prices are rebounding.
— New Straits Times

Malaysia’s AirAsia sells aircraft leasing unit for $1.2b
AirAsia Bhd, Malaysia’s flagship budget airline, said on Thursday it has agreed to sell its aircraft leasing operations for $1.2 billion to firms managed by BBAM Limited Partnership.
— DealStreetAsia

See here for more of today’s Malaysia Morning News

 

Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat

 

Bangladesh Asks Myanmar To Pull Back Troops From Border Area Housing 6,000 Rohingya
Bangladesh Thursday asked Myanmar to immediately “pull back” security forces and heavy weapons from the border after the troop build-up near a camp housing thousands of stranded Rohingya stirred tension on the troubled frontier.
NDTV 

Samsung decides against investing in Myanmar amid “government inaction”
South Korea’s corporate giant Samsung Electronics scrapped its plans to build a production base for smartphones or home appliances in Myanmar due to what it calls “an unfavourable administrative environment” and “lingering political uncertainties,” and also because of the Myanmar government’s inaction on economic reforms and concerns over a worsening bureaucracy. Samsung said that the decision was final, Korea Times reported.
Investvine 

Myanmar’s government unveils a 238-point economic reform plan
THE Yangon Stock Exchange does not lack ambition. It is housed within the imposing former headquarters of the central bank. The two guards manning the entrance protect a stack of visitor badges, mostly unused.
The Economist 

See here for more of today’s Myanmar Morning News

 

Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu

 

Philippines’ $2 billion LNG project draws interest from Tokyo Gas, three others
There are at least four potential investors for the Philippine government’s planned liquefied natural gas (LNG) import facility, including Tokyo Gas Co Ltd, a government energy official said on Thursday.
— Reuters

Landbank offering P1.5B for control of PDS
The Land Bank of the Philippines board is offering P1.5 billion for a majority stake in the Philippine Dealing System Holdings Corp. (PDS Group).
— Philippine Daily Inquirer

Tycoons’ Manila airport bid challenged by $3-billion offer
A venture of Megawide Construction Corp. and GMR Infrastructure Ltd. submitted a $3-billion proposal to upgrade and expand the Philippine capital’s 70-year-old airport, challenging a $6.7-billion bid from a group that includes billionaires John Gokongwei and Lucio Tan.
— Business Mirror

See here for more of today’s Philippines Morning News

 

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat

 

Budget 2018 passed in Parliament, with 8 Workers’ Party MPs voting against it
Budget 2018 was passed in Parliament on Thursday (Mar 1), with 89 Members of Parliament (MPs) voting for it, and eight MPs from the Workers’ Party (WP) voting against it. WP chief Low Thia Khiang was not present for the vote.
Channel NewsAsia

Microsoft is buying solar energy from Singapore rooftops
The US company on Thursday announced a deal with Singaporean solar firm Sunseap to purchase all the power generated by a planned rooftop solar project, which will be the largest of its kind in the city-state.
CNN 

With all eyes on China, Singapore makes its own Arctic moves
Asian states are becoming increasingly interested and involved in the Arctic region. This signal was sent in 2013 when four Asian countries were admitted into the Arctic Council as observers: China, Japan, South Korea and Singapore.
Asia Times 

See here for more of today’s Singapore Morning News

 

Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ

 

What Do Thailand’s New Economic Numbers Say About Its Political Future?
Though the neverending wait for Thailand’s return to democratic rule since the military seized power back in May 2014 shows few signs of ending anytime soon, recent figures do suggest that the country’s economy is showing indications of improving.
— The Diplomat

BoT: January economy extends growth, baht volatility increases
The Bank of Thailand (BoT) has said the Thai economy continued to grow in January due to rigorous government spending, exports and tourism.
— NNT

Thailand gets first fish exported from Fukushima since 3/11
A shipment of Fukushima fish landed in Thailand this week, marking the prefecture’s first such exports since the March 2011 nuclear crisis.
— The Japan Times

See here for more of today’s Thailand Morning News

 

Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov

 

New decree replaces regulations on logistics business
From February 20, 2018, logistics businesses have to meet the business conditions outlined in Decree No.163/2017/ND-CP on logistics services, replacing Decree No.140/2007/ND-CP.
— VietnamNet Bridge

Central bank urges property lending caution
The State Bank of Vietnam (SBV) has asked credit institutions to limit their lending to the real estate and construction sectors to better control bad debts.
— VietnamPlus

Vietcombank to offer 10% stake to foreign investors, GIC among interested parties
Singaporean sovereign wealth fund GIC Private Limited is likely to become a significant shareholder in Vietcombank when the latter offloads a 10 per cent stake to foreign investors in the first half of this year after receiving government approval, the Nikkei Asian Review reported.
— DealStreetAsia

See here for more of today’s Vietnam Morning News

 

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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