Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
ASEAN countries unconvinced by EU trade pact
South East Asian countries are dragging their feet on a free trade agreement (FTA) with the EU, with officials saying that the countries still need to be convinced of the benefits of the region-to-region deal.
— Euractiv
Asian business sentiment hit 7-year high
Business confidence among Asian companies rose in the first quarter to the highest level in seven years, a Thomson Reuters/INSEAD survey showed, as a fresh surge by the Chinese economy offset concerns about rising trade barriers.
— Malaya
The changing demographics of Southeast Asia
DEMOGRAPHICS are important for investors. The number of people in a country, their income and their household composition affect how they shop and spend.
— The Nation
Robust fundamentals buttress region’s solid economic performance
The economy of the Association of Southeast Asian Nations (ASEAN) is expected to have lost some speed but retained solid momentum in the first quarter of the year, weighed down by marginally higher borrowing costs but supported by solid FDI, improving labor conditions and upbeat global trade flows.
— Focus Economics
ASEAN planning to draw up occupational health guidelines
ASEAN member countries are planning to create occupational health guidelines for industries by risk factor, to provide preventive measure recommendations for workers’ health in Laos and the region, local daily Vientiane Times reported on Wednesday.
— Ecns.cn
Singapore will launch initiatives to improve welfare of ASEAN people: Desmond Lee
As ASEAN Chair for 2018, Singapore will be launching several initiatives and focus on various projects to improve the livelihood, well-being and welfare of the ASEAN people, according to Minister of Social and Family Development Desmond Lee.
— Channel NewsAsia
Southeast Asia needs better labor migration policies
One of the many signs of growing economic integration in Southeast Asia is a surge in labor migration.
— Nikkei Asian Review
SE Asia Stocks-Philippines extends fall; most others climb before Fed decision
Philippine stocks slumped nearly 2 percent on Wednesday, extending falls to their lowest close
since early August, while most other Southeast Asian markets climbed ahead of the U.S. Federal Reserve’s rate decision and outlook.
— Reuters
E-health apps help meet Southeast Asia’s healthcare needs
Southeast Asians are becoming more aware of the need to address their health issues properly, but the underdeveloped state of Southeast Asia’s healthcare infrastructure, as well as resource shortages, still make these needs difficult to address effectively.
— The Asean Post
Asia-Pacific’s biggest ports face steep climate bill—study
Upgrading Asia-Pacific’s biggest ports to cope with the effects of climate change will cost up to $49 billion, but the bill could be even higher if no action is taken, researchers said.
— Eco Business
Enhancing APG Investment Towards Regional Energy Optimisation
Secure and reliable electricity infrastructure is vital to support the regional economic growth and integration process. Southeast Asia countries in particular are forecasted to have high rise of demand in the power sector; is expected to tripling from 789TWh in 2013 to about 2,200TWh in 2040 which doubles the current capacity.
— Asean Power Grid Summit (Event Announcement)
Cambodia Morning News
Compiled by Sreypov Men @MenSreypov
Leaked Letter Fails to Support The Phnom Penh Post Tax Claims
Following our exclusive report last week that Post Media, publisher of the the English- and Khmer-language editions of The Phnom Penh Post, was in dire need of a massive cash injection to meet a tax bill of some US$3.9 million, company executives have been desperately trying to shore up moral and the image of the publication… in the process stripping away the last vestiges of the two publications’ credibility in the process.
— AEC News Today
Cambodian-Canadian engineer pushes to use robots in UXO removal
You won’t find the “freedom to walk” inscribed in any UN conventions or national constitutions, but for 24-year-old Richard Yim, it’s one of the most important rights in the world.
— The Phnom Penh Post
Initial Construction Work For Twin Towers Begins
Initial construction work of the Thai Boon Roong Twin Commercial Centre in Phnom Penh started yesterday, according to an official who helped design the project.
— B2B
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
EU removes duties on Biodiesel imports for Argentina and Indonesia
The European Union has removed duties on biodiesel imports for 13 Argentine and Indonesian producers following the end of legal proceedings at the European Court of Justice (ECJ), an EU document shows.
— Devdiscourse
Indonesia Among Least Attractive Markets for Startups & Venture Capital
Indonesia has a thriving digital economy due to the huge population that is increasingly connected to the Internet. Meanwhile, growth still comes from a low base and therefore there are plenty of foreign and domestic investors ready to invest in Indonesia’s digital economy, for example through capital injections in startups.
— Indonesia Investments (media release)
Malaysia to move up deportation of 4,000 Indonesians
The Immigration Department of Malaysia plans to expedite the deportation of about 4,000 undocumented Indonesians currently held in its detention centers, so they may arrive home in time for the fasting month starting on May 15.
— The Jakarta Post
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Laos’ Investment Outlook for 2018
Landlocked by Myanmar, Cambodia, China, Thailand, and Vietnam, Laos is among the poorest economies of the world. Yet, in terms of gross domestic product (GDP), the economy continues to soar. Over the last decade, Laos has sustained an average growth rate of 7.8 percent, relatively higher than its neighboring countries.
— Asean Briefing
Laos signs Asian Forest Cooperation Organisation agreement
Laos has signed an agreement on the Establishment of the Asian Forest Cooperation Organisation and is the 10th country to sign this document.
— Vientiane Times
Lao leaders lay wreath for former Vietnam PM
Lao leaders yesterday laid a wreath at the Ho Chi Minh City Hall in Vietnam, mourning the passing of Vietnam’s former Prime Minister Phan Van Khai.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Sreypov Men @MenSreypov
Economist: Tax on tech firms could be major revenue source
An economist has hailed the government’s proposal to tax giant technology companies, saying it could become a major source of revenue for the country in the future.
— Free Malaysia Today
Mubadala, Petronas and Shell to spend over US$1b on Pegaga gas field offshore Sarawak
Mubadala Petroleum, Petroliam Nasional Bhd (Petronas) and Royal Dutch Shell will spend more than US$1 billion (RM3.9 billion) to develop Malaysia’s Pegaga gas field, aiming to produce gas by the third quarter of 2021, Abu Dhabi-based Mubadala said today, Reuters reported.
— The Sun Daily
Bursa Malaysia trades cautiously higher ahead of expected Fed rate hike
Bursa Malaysia traded cautiously higher on Wednesday, with markets participants focusing on the Federal Reserve after it kicked off its March meeting.
— The Star Online
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Leakhena Khat @leakhenakhat
Htin Kyaw, Myanmar president and Aung San Suu Kyi confidante, resigns
The president of Myanmar, Htin Kyaw, has stepped down, saying he is “taking a rest” following health issues.
— The Guardian
Cate Blanchett questions Myanmar leader Aung San Suu Kyi’s stance on Rohingya refugee crisis, calls for aid
Australian actor Cate Blanchett says it is “bewildering” Myanmar’s leader Aung San Suu Kyi has not spoken out about the atrocities being committed against Rohingya Muslims in her country.
— ABC
Myanmar journalists in court 100 days after their arrest
Two Myanmar reporters have appeared in a court 100 days after they were arrested on charges of possessing secret government documents.
— Al Jazeera
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Australians to pour $40.4 million for power plant, hotel in PHL
AUSTRALIAN businessmen are looking to invest a total of $40.4 million on a power plant and a hotel project in the Philippines, as they intend to maximize the country’s growing economy.
— Business Mirror
Count PH out of wars, Duterte tells US
PRESIDENT Rodrigo Duterte on Wednesday took a swipe anew at the United States (US), saying Washington should count Manila out of any expeditions or wars.
— The Manila Times
INCREASES NAIA’S CAPACITY TO 65M; ‘Super consortium’ seeks approval of P350B rehab plan
The so-called super consortium is optimistic of obtaining the original proponent status (OPS) for its P350-billion proposal to rehabilitate and expand the country’s premier gateway, Ninoy Aquino International Airport (NAIA).
— Malaya
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singapore passes terror attack blackout law
Singapore’s parliament on Wednesday, March 21, passed a controversial law giving authorities the power to block all electronic communications at the scene of a terror attack, despite protests it will erode media freedom.
— Rappler
Government’s duty to set open standards for Internet of Things deployment: Vivian Balakrishnan
The Government’s approach to the deployment of Internet of Things (IoT) solutions is based on avoiding “walled gardens”, said Minister-in-charge of the Smart Nation initiative Dr Vivian Balakrishnan at the IoT Asia 2018 Conference on Wednesday (Mar 21).
— Channel NewsAsia
Singtel Group to interconnect telco mobile wallets
The Singtel Group has revealed plans to become the first operator to interconnect telco mobile wallets to support seamless cross-border mobile payments.
— telecomasia.net
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ
Thai February exports rise 10.3 pct y/y, beat forecast
Thailand’s customs-cleared annual exports rose at a slower pace in February compared with the previous month, pulled down by lower demand during Lunar New Year holidays, but growth was slightly above expectations.
— Reuters
Thailand Economic Outlook
Economic growth should remain robust this year on the back of a pickup in government consumption and fixed investment, while private consumption growth is expected to remain solid and export growth will likely moderate due to a large base effect.
— Focus Economics
Industrial confidence dips ahead of April wage hike
The Industrial Confidence Index (ICI) has declined despite continued export growth, as businesses and SMEs expressed concern over the upcoming minimum wage hike in April.
— NNT
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Vietnam’s phone exports continue posting two-digit growth
Exports of phones and spare parts skyrocketed by 68 percent until March 15, helping it become the first commodity to gain export revenue of more than US$10 billion this year.
— The Hanoi Times
Foreign investors eager to acquire Habeco
Along with Carlsberg, the Danish Brewer holding 17.3 per cent stake in Hanoi Beer, Alcohol and Beverage Corporation (Habeco), numerous foreign investors are looking to acquire a stake in Vietnam’s third-largest brewer in order to increase their market shares.
— VietNamNet Bridge
Top five foreign investors in Vietnam’s real estate announced
Singapore, the Republic of Korea, Malaysia, Japan and Hong Kong (China) are the largest foreign real estate owners in Vietnam, according to a survey recently published by CBRE Vietnam.
— NNT
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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