Asean Morning News For May 15

Asean Morning News For May 15

Asean morning newsAsean Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Will the Belt and Road Initiative put the region in a debt trap?
In December last year, Sri Lanka formally handed over its strategic port of Hambantota to China on a 99-year lease after failing to pay its debt to Chinese firms.
— The Asean Post

ASEAN countries’ car production jumps 7.3% in Q1; that of PH declines by 38%
ASEAN countries ramped up car production by 7.3 percent to 1,099,145 units in the first quarter this year from 1,024,134 in the same quarter last year as all seven car producing countries posted positive growth except for the Philippines, data from the ASEAN Automotive Federation showed.
— Manila Bulletin

Petroleum’s contribution to ASEAN sustainability
Petroleum is known as liquid gold due to its utility to various segments in society, making it a sought-after commodity the world over.
— The Asean Post

ASEAN loads up with more initiatives
It has been five months since Singapore took the baton as ASEAN’s chairman. Under its chairmanship, ‘Resilience and Innovation”’ take the spotlight.
— Asean Today

Asean officials explore benefits of community-based tourism
Twenty representatives from the Lao Ministry of Information, Culture and Tourism learned more about community participation in tourism during a three-day workshop in Cambodia last week.
— Vientiane Times/Philippine Daily Inquirer

PwC report seeks to spur Asean to action
Southeast Asia needs to evolve beyond passive growth and take more proactive measures to continue attracting investment and developing its institutions, people and technological capabilities, the PwC Growth Markets Centre says in an annual report.
— The Nation

Asean’s role in the Trump-Kim summit
PM Prayut’s ill-chosen words notwithstanding, the choice of Singapore to host the event was a triumph for all in this region
The Nation 

Asia-Pacific: ASEAN Releases Handbook on Consumer Protection Laws and Regulations
On May 11, 2018, the ASEAN Committee on Consumer Protection published a handbook on ASEAN consumer protection laws and regulations, with a view to supporting its Strategic Action Plan for Consumer Protection 2016-2025(ASAPCP) that was drafted on the basis of the AEC Blueprint 2025.
PaymentsCompliance (paywall)

Asean balancing act
China’s growing influence in Asia and beyond is real. Beijing’s escalating confrontation with the United States and threats of a trade war between the two superpowers are also pressing, with experts saying that would put the Association of Southeast Asian Nations (Asean) in the most difficult position in its 50-year history.
Bangkok Post 

Smart Education and Learning Market: Understanding The Key Product Segments And Their Future
The smart education and learning market in the ASEAN region is rising due to government initiatives towards digitizing education, increasing use of smartphones and tablets, internet penetration and developed information and communication (ICT) infrastructure.
Facts Week

Southeast Asia-based mobile listings startup Carousell raises $85M
Carousell, the Singapore-based mobile listing service that operates across Southeast Asia, has pulled in an $85 million Series C fund as it seeks to strengthen its business among the region’s competitive e-commerce landscape before expanding globally.

PwC report seeks to spur Asean to action
Southeast Asia needs to evolve beyond passive growth and take more proactive measures to continue attracting investment and developing its institutions, people and technological capabilities, the PwC Growth Markets Centre says in an annual report.
The Nation 

Asean officials explore benefits of community-based tourism
Twenty representatives from the Lao Ministry of Information, Culture and Tourism learned more about community participation in tourism during a three-day workshop in Cambodia last week.

Cambodia morning newsCambodia Morning News

Compiled by Sreypov Men    @MenSreypov

NEC Closes Registration: 20 Parties Registered
Dim Sovannarom, spokesman of National Election Committee (NEC), announced to officially close the registration of the political party for the National Assembly 6th mandate election on Monday.
— Fresh News

NBC signs new agreement to tackle financial crimes
The National Bank of Cambodia’s Financial Intelligence Unit signed a memorandum of understanding last week with the Ministry of Commerce’s General Directorate of Trade Support Service on combatting terrorism financing and money laundering by enhancing the exchange of information.
— Khmer Times

Vietnamese group to invest $1 billion in Cambodia
Vietnam-based company FLC Group will invest $1 billion in a number of projects in the local agriculture, tourism and aviation sectors, the Minister of Agriculture announced last week.
— Khmer Times

See here for more of today’s Cambodia Morning News


Indonesia morning newsIndonesia Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


Gov’t, Lawmakers Rush to Pass Terrorism Bill After Attacks in East Java
In the wake of suicide attacks in Surabaya, East Java, pressure is mounting on the House of Representatives and the government to finalize the revision of a law granting the security forces more power to prevent acts of terrorism.
— Jakarta Globe

Govt Confirms Rice Import of 500,000 Tons
The government confirmed the additional import of 500,000 tons of rice from Vietnam and Thailand, which was decided in the Coordination Meeting at the Office of the Coordinating Minister for the Economic Affairs.
— Netral News

Current Account Deficit of Indonesia at 2.15% of GDP in Q1-2018
Indonesia’s current account balance – the broadest measure of the country’s international trade – showed a deficit of USD $5.5 billion, equivalent to 2.15 percent of the nation’s gross domestic product (GDP), in the first quarter of 2018.
— Indonesia Investments (media release)

See here for more of today’s Indonesia Morning News


Lao PDR morning newsLao PDR Morning News

Compiled by Leakhena Khat    @leakhenakhat


Lao Front vows to strengthen defences against subtle forms of attack
Members of the Lao Front for National Development’s Committee must strengthen public resilience to peaceful forms of attack by the country’s enemies.
Vientiane Times 

Cambodia-Laos Border Dispute: Geopolitical Flashpoint or Playing Politics?
Cambodia’s usually low-key dispute over an unmarked stretch of its remote 540-km long border with northern neighbour Laos made international headlines last August when long-time Cambodian Prime Minister Hun Sen issued a stern six-day ultimatum for Laotian troops to withdraw from the disputed region or face a forceful military response.
Geopolitical Monitor 

Government leader meets with chief of Lao army’s general staff
Prime Minister Nguyen Xuan Phuc hosted a reception in Hanoi on May 14 for Sen. Lt. Gen. Suvon Luongbunmi, Deputy Defence Minister and Chief of the General Staff of the Lao People’s Army, who is on an official visit to Vietnam.
Nhan Dan Online 

See here for more of today’s Lao Morning News


Malaysia morning newsMalaysia Morning News

Compiled by Sreypov Men    @MenSreypov


Malaysia after GE14: transition to what?
The night of 9 May was a sleepless one in Malaysia. Long, hot polling station queues gave way to long, anxious waits for official counts and winners.
— New Mandala

Ringgit slips almost 1% as trading resumes in Malaysia
The Malaysian currency slipped on Monday as trading resumed following the country’s shock election result last week.
— Financial Times

How the Gov’t can meet GST revenue shortfall from SST reintroduction
The planned reintroduction of Sales and Services Tax in place of the Goods and Services Tax (GST) will at most collect about RM20 billion to RM25 billion, which means it is still short of about RM20 billion, analysts said.
— New Straits Times

See here for more of today’s Malaysia Morning News


Myanmar morning newsMyanmar Morning News

Compiled by Leakhena Khat    @leakhenakhat


Myanmar opens up for foreign retailers and wholesalers
Foreign businesses and joint ventures are now allowed to carry out businesses in the retail and wholesale sector, according to the latest directive from the commerce ministry. Leading business groups hailed the move as a right step towards attracting inwards investments for Myanmar.
The Myanmar Times

‘Slow genocide’: Myanmar’s invisible war on the Kachin Christian minority
When Tang Seng heard gunshots close to his village in Myanmar, he had a choice: carry his grandmother away from the fighting on his back or run for help. She asked him to kill her and leave her there but he refused.
The Guardian 

RPT-Myanmar’s Yoma to debut in baht
Yoma Strategic Holdings is poised to become the first company from Myanmar to sell bonds with a baht-denominated offering that underlines Thailand’s appeal as a regional funding hub.

See here for more of today’s Myanmar Morning News


Philippines morning newsPhilippines Morning News

Compiled by Stella-maris Ewudolu    @stmarisewudolu


World Bank fund to aid Guimaras mango produce
Some 171 mango growers and producers from Guimaras are recipients of a P18-million grant in a joint project of the World Bank, the host local government unit, and its beneficiaries.
— Manila Standard

NIA seeks unprecedented budget of P55 B in 2019
The National Irrigation Administration (NIA) is planning to ask for an unprecedented budget of P55 billion to bankroll its infrastructure projects that are crucial to develop the country’s irrigation system.
— Manila Bulletin

More foreign banks pick Philippines as hub for global operations
More foreign banks are trooping to the Philippines not only to put up branches or representative offices, but to transform the country as the hub for their global operations.
— Philippine Star

See here for more of today’s Philippines Morning News

Singapore morning newsSingapore Morning News

Compiled by Leakhena Khat   @leakhenakhat


Two Singaporean online marketplace startups raise fresh funds
Singapore’s Carousell, a classifieds marketplace, said on Monday that it raised $85 million in funds from investors including DBS Group Holdings Ltd, the city-state’s biggest lender.

Singapore releases best practice papers to combat money laundering and financial crime
On 14 May, the Anti-Money Laundering and Countering the Financing of Terrorism Industry Partnership (ACIP) in Singapore has published two best practice papers for financial institutions to guard against trade-based money laundering and the misuse of company structures for illicit purposes.
Open Gov Asia 

Singapore company emerges as market leader in cryptocurrency offerings
Singapore’s PLMP-Fintech is becoming the service provider of choice among ICO candidates after proving its ability to launch ten new ICOs in a single month.
The Nation

See here for more of today’s Singapore Morning News


Thailand morning newsThailand Morning News

Compiled by John Le Fevre    @photo_journ


Thai banks’ loans seen up 5-6 pct this year –
Commercial banks in Thailand are likely to see a loan growth of 5-6 percent this year, a central bank official said on Monday, down from the 6-8 percent rise projected in February, as more companies are now raising funds through stocks and bonds.
— Reuters

Embrace tech or see millions of jobs vanish, TDRI chief warns
Thailand Research Development Institute president Somkiat Tangkitvanich warned on Monday that Thailand could lose three million jobs over the next 20 years if it is unable to adapt to and utilise disruptive digital technology.
— The Nation

Thai Asian Physics Olympiad team returns to hero’s welcome
Thai students who took one bronze medal and seven certificates of honor at the 19th Asian Physics Olympiad in Hanoi, Vietnam have returned to a hero’s welcome in the Kingdom.
— News Today (video)

See here for more of today’s Thailand Morning News


Vietnam morning newsVietnam Morning News

Compiled by Sreypov Men    @MenSreypov


Petrolimex Aviation to supply fuel to all airports
Petrolimex Aviation Fuel Joint Stock Company (Petrolimex Aviation) will supply fuel to all 26 airports in Viet Nam, according to the next five-year development plan.
— Bizhub

Intermediary payment service blooms in Vietnam
Intermediary online payment service is developing strongly in Vietnam with active participation of foreign players, according to the country’s central bank on Monday.
— Xinhua

Ministries urged to remove 49% foreign cap
The Prime Minister’s working group has asked the ministries of Finance and Planning and Investment to swiftly lift the foreign ownership limit of 49 per cent at enterprises where foreign investment is not restricted.
— Bizhub

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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