Asean Morning News For March 30

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudol

How Asia Should Respond to US Protectionism
Over the last five decades or so, Asia’s economies have relied largely on an export-oriented development model to support rapid economic transformation and growth.
— Project Syndicate

ASEAN to improve synergies for One ASEAN One Response
Senior officials from relevant ASEAN sectoral bodies who have a stake in humanitarian assistance and disaster relief gathered in Jakarta today to deliberate on ASEAN’s future direction in disaster management and emergency response amidst the rise of complex emergencies and human-induced disasters in the region.
— Reliefweb

Asean stock exchanges may face headwinds going into 2018, warns EY
Asean exchanges will need to brace themselves for headwinds even as their pipelines for initial public offerings (IPO) this year look fuller than in 2017, says global financial services firm EY.
— The Edge Markets

Esports Is Taking Off In Southeast Asia — Here’s What That Means For Publishers And Players
In recent years, the popularity of esports has exploded in Southeast Asia, leaving local and international companies seeking ways to tap into the market.
— Forbes

How will Trump’s tariffs affect ASEAN
Donald Trump’s tariffs have put steel and aluminium exporting nations on edge. His proposals put a 25% tariff on steel imports to the US and a 10% tariff on aluminium. Trump has granted temporary exemptions to some countries. But many steel and aluminium exporting nations are concerned.
— Asean Today

Knocking on closed doors: Refugees in ASEAN
“A strong commitment to regional peace and security” was at the core of the Sydney Declaration, issued at the first-ever ASEAN-Australia Special Summit (March 16 to 18), which Australia hosted for the first time as a dialogue partner.
— The Jakarta Post

Mekong, a river of cooperation and development
The sixth Greater Mekong Subregion Summit (GMS-6) and the 10th Cambodia-Laos-Vietnam Development Triangle Summit (CLV-10) are scheduled to take place in Hanoi from March 29 to 31.
— Nhan Dan Online

Asean forum hails progress
The Asean Capital Markets Forum (ACMF) hailed the progress achieved by the AseanGreen Bond Standards at its meeting.
— The Nation

Thailand, Myanmar labour ministers discuss nationality verification
Thailand’s Labor Minister, Pol. Gen. Adul Saengsingkaew, and Myanmar’s Labour, Immigration and Population Minister, U Thein Swe, discussed the ongoing nationality verification process for the remaining 180,000 Myanmar workers in Thailand.
— NNT

Asean ministers to discuss growth and resilience
Asean finance ministers will be looking at ways to sustain growth, boost resilience and foster innovation when they meet here next week.
— The Straits Times (paywall)

ASEAN fully supports Indonesia for UNSC non-permanent membership: Minister
Indonesia has gained full support from ASEAN member states for its candidacy as a United Nations Security Council (UNSC) non-permanent member, a top diplomat says.
— The Jakarta Post

ASEAN’s cybersecurity needs beefing up
At the ASEAN-Australia Special Summit this month, ASEAN member states and Australia agreed that they will work together on security issues to ensure the safety of the region.
— The Asean Post

Boost for Asean agriculture trade
The German Development Agency, or GIZ, has unveiled a new mechanism yesterday, entitled Facilitating Trade for Agricultural Goods in Asean (FTAG) in order to provide recommendations for Cambodia, Thailand, Vietnam and other Asean countries to support the facilitation of agricultural trade in Asean.
— Khmer Times

ASEAN meeting on vaccines resolves to achieve self-reliance
Public health organizations from across ASEAN and elsewhere in the world have combined their efforts to achieve the development of esential vaccines for the region.
— NNT

Most Asean markets slip ahead of long weekend
Most Southeast Asian stock markets slipped on Thursday in thin trade ahead of a long weekend, while Singapore shares rose up to 1 percent on the back of gains in financials.
Read more at https://www.thestar.com.my/business/business-news/2018/03/29/most-asean-markets-slip-ahead-of-long-weekend/#bskgZYPguFrqZk4T.99
— The Star Online

ICAEW: ASEAN ECONOMY UNLIKELY TO SEE THE SAME MOMENTUM IT HAD LAST YEAR
Economic growth in South-East Asia is expected to moderate this year, as it is unlikely to match the exceptional momentum in 2017, according to ICAEW’s latest Economic Insight: South-East Asia report.
— CFO innovation

The FinLab accelerator aligns stars for the 4th industrial revolution – apply now! (Sponsored)
In fact, with technological and economic development happening at a breakneck pace all around the world, it isn’t hard to envision how advances in technology could lead to the automation of our future.
— EU-Startups (media release)

Japan’s Indo-Pacific push galvanizes Mekong region
Japan’s ambitious new foreign policy strategy aimed at “bridging” the Southeast Asian mainland and Indo-Pacific regions through aid, trade and infrastructure links has drawn a wary welcome from Mekong area countries concerned about growing rivalry between the major donor countries, China and Japan.
— Nikkei Asian Review

SOUTHEAST ASIA AWASH WITH POSSIBILITIES
After a couple of years successfully challenging Singapore’s dominance, the tide may have turned against Malaysia’s Port Klang along with the prospects for its $51bn Carey Island megaproject.
— Port Strategy

Growth, innovation and resilience on the cards for Asean finance meetings next week
Sustaining growth, particularly in infrastructure development, boosting resilience against unexpected events, and fostering innovation are the three key areas that South-east Asian finance ministers and senior banking officers will be focusing on during their meetings next week, said Finance Minister Heng Swee Keat.
— Today Online

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Nat’l Bank warns against shady deposit schemes
The National Bank of Cambodia issued a letter on Wednesday clarifying that only seven microfinance institutions (MFIs) are licensed to accept deposits from the public.
— The Phnom Penh Post

EU to probe exports of rice
The European Commission has found sufficient evidence to launch an investigation into whether Cambodian rice exported to the EU puts an unfair burden on European rice farmers, potentially imperiling the Kingdom’s tariff-free exports to the bloc.
— The Phnom Penh Post

This Cambodian city is turning into a Chinese enclave, and not everyone is happy
Sihanoukville, a port city on the Gulf of Thailand, has long been a favourite among Westerners, but in recent months it has become a beacon for Hun Sen’s Beijing-leaning vision for the country.
— South China Morning News

See here for more of today’s Cambodia Morning News

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Seizure of superyacht Equanimity being challenged in US, Indonesian courts
The company claiming legal ownership of the luxury yacht Equanimity, which was seized by FBI agents acting for the US Department of Justice (DOJ) in Indonesian waters last month, is taking the matter to court in Indonesia and the US.
— The Edge Markets

Indonesia prosecutors seek 16 years for former speaker in graft case
Indonesian prosecutors Thursday demanded 16 years imprisonment for former parliament speaker Setya Novanto in one of the graft-riddled country’s biggest corruption cases.
— The Sun Daily

Rp 3b granted to Bogor university to develop research, human resources
Indonesia’s largest poultry company, Charoen Pokphand Indonesia (CPI), has granted Rp 3 billion (US$210,000) worth of endowment fund to the Bogor Institute of Agriculture (IPB) to support academic activities in the institution.
— The Jakarta Post

See here for more of today’s Indonesia Morning News

Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Mekong River level drops to lowest in a year in Bueng Kan
The water level of the Mekong River in Bueng Kan has reached its lowest point in a year’s time, affecting transport boats and ferries traveling between Thailand and Lao.
— NNT

Agriculture sector reviews key rice, forestry programmes
The Sector Working Group on Agriculture and Rural Development met in Vientiane yesterday to consider key elements of the government’s plans for sustainable economic growth and protection of forests, as well as taking stock of progress over the past year.
— Vientiane Times

Lao Telecom Signs Deal With World Trade Center On Integrated Telecommunication Service
Lao Telecom signed an agreement with Lao International Development on Wednesday to provide to an integrated telecommunication service at World Trade Center, a mega project of infrastructure development in Laos.
— Lao News Agency

See here for more of today’s Lao Morning News

Malaysia Morning News

Compiled by Sreypov Men @MenSreypov

Malaysian central bank says foiled attempted cyber-heist
Malaysia’s central bank said on Thursday it was the victim of a cyber attack in which hackers sought to steal money using fraudulent wire transfers, the latest in a series of electronic heists at financial institutions around the world.
— Business Standard

Recovery in O&G uplift Sapura Energy prospects: analysts
Analysts are upbeat on the prospects of Sapura Energy Bhd’s performance, believing that the oil and gas (O&G) service provider’s downside is over, underpinned by gradual recovery of oil prices.
— New Straits Times

Kuala Lumpur living wage below median of RM9,073
Bank Negara is recommending that employers provide a living wage that better reflects the cost of living.
— The Star Online

See here for more of today’s Malaysia Morning News

Myanmar Morning News

Compiled by Leakhena Khat @leakhenakhat

Rights lawyer Amal Clooney to represent Reuters reporters held in Myanmar
Prominent human rights lawyer Amal Clooney has joined the legal team representing two Reuters reporters jailed in Myanmar, who are accused of possessing secret government papers, her office said on Thursday.
— Reuters

How the West won and lost Myanmar
When former political prisoner Aung San Suu Kyi and her long persecuted National League for Democracy party won election in 2015, Western nations that maintains sanctions against the previous rights-abusing military regime cheered the democratic result and hoped for transition.
— Asia Times

See here for more of today’s Myanmar Morning News

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Three new ride-hailing startups to challenge Grab’s ‘monopoly’ in PH
Three new ride-sharing startups – Go Lag, Owto, and Hype – are set to operate in the Philippines soon to compete with Grab, according to the country’s Land Transportation Franchising and Regulatory Board (LTFRB).
— Deal Street Asia

Strong Filipino population draws fast food chain Jollibee to expand its reach in Canada
The growing Filipino population in Canada has been catalyst for the biggest fast food chain in Asia to expand its market into Canada.
— CTV News

New coins raise confusion
Release of the New Generation Currency (NGC) Coin Series of the Bangko Sentral ng Pilipinas (BSP) on Monday has been met with a lot criticisms from the public and netizens who say the new coins create confusion.
— The Manila Times

See here for more of today’s Philippines Morning News

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

NUS in MIT’s top 10 list of leaders in engineering education
The National University of Singapore (NUS) has been ranked alongside the likes of MIT, Stanford and Cambridge in a list of top 10 institutions most frequently identified as ‘current leaders’ in engineering education.
— The Straits Times (paywall)

Select Committee concludes hearings on fake news after 8 sessions marked by tense exchanges
The final Select Committee hearing on deliberate online falsehoods ended on Thursday (Mar 29), with Deputy Speaker and the committee’s chairman Charles Chong describing it as having “extensive involvement and robust engagement” in his closing remarks.
— Channel NewsAsia

Singapore confirms delivery of Aster 30 missile with video post
Singapore has given the first glimpse of its latest addition to the multilayered air defense network defending the southeast Asian island nation.
— Defense News

See here for more of today’s Singapore Morning News

Thailand Morning News

Compiled by John Le Fevre @photo_journ

Thailand wants to join CPTPP trade pact this year: deputy PM
Thailand aims to seek membership in a landmark Asia-Pacific trade agreement this year, a deputy prime minister said on Thursday.
— Reuters

First batch of fresh chicken shipped from Thailand to China
The first shipment of fresh chicken was exported from Chiang Rai in northern Thailand to Yunnan in southern China.
— News Today (video)

Kresearch upbeat on exports
In its assessment of the trade policy of the US and global trade situations, Kasikorn Research (Kresearch) said although the US has implemented various trade protectionism measures that produce different impacts on trade partners and product types, there are certain flexibilities that may limit the overall impacts and lead to trade negotiations with each trade partner of the US.
— The Nation (annoying popups)

See here for more of today’s Thailand Morning News

Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam economy grows at best rate in a decade
Vietnam’s economy saw its strongest first-quarter growth in a decade, data showed on Thursday (Mar 29), driven by a surge in electronics manufacturing and exports.
— Channel NewsAsia

Vietnam has huge potential in franchising: experts
Many international and regional brands will enter Viet Nam’s retail and franchise sector in the coming years, according to experts taking part in Viet Nam Retail and Franchise Conference held in HCM City on Wednesday.
— Bizhub

Domestic cement consumption down, export market bright
Domestic cement consumption fell in March, while cement exports had growth against the same period last year, according to the Ministry of Construction.
— VietnamPlus

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.