Asean Morning News For August 10

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Single tourism visa expected to benefit ASEAN members
The ASEAN Single Visa is a scheme that would allow its holders to travel between member states, saving time and resources. The idea behind the new travel community would be to market the entire region as a tourist destination — one which could be explored under a single visa, taking full advantage of the budget regional air travel network.
— Vietnamnet Bridge

Vietnam issues commemorative ASEAN stamp
Vietnam and other members of the Association of Southeast Asian Nations (ASEAN) have issued postage stamps themed “National Flower” to mark ASEAN’s 50th founding anniversary, the Vietnam Posts and Telecommunications Group said on Wednesday.
— Xinhua

ASEAN foreign ministers endorse COC framework on South China Sea
In a front page commentary, the overseas edition of the ruling Communist Party’s official People’s Daily said North Korea’s open flouting of United Nations rules with its missile launches meant that it had to be punished, but sanctions had to be targeted.
— XNewsPress

ASEAN countries on track for historic VC high in 2017
ASEAN countries are on track to reach historic highs of venture capital (VC) deal flow in 2017, with Singapore posting 711 disclosed deals with an aggregate value of $7.305 billion since 2012, followed by Indonesia with 285 disclosed deals with an aggregate value of $3.477 billion for the same period.
— Deal Street Asia

SE Asia stocks fall as US-North Korea tensions mount
Most Southeast Asian stock markets closed lower on Wednesday as mounting tensions between North Korea and the United States prompted investors to hop on to safe-haven assets.
— Bangkok Post

China leaning on Singapore to keep ASEAN calm over South China Sea: sources
China is worried it could face fresh criticism over its actions in the South China Sea when Singapore becomes chairman of the Association of South East Asian Nations next year, and is putting pressure on the city-state to make sure that doesn’t happen, according to people familiar with the situation.
— The Edge Markets

Palace declares August of every year as ‘Asean Month’
Malacañang has declared August of every year as a month dedicated to commemorate the Association of Southeast Asian Nations (Asean).
— Inquirer.net

ASEAN’s mid-life crisis?
On August 8, 1967, foreign ministers from Singapore, Malaysia, Thailand, Indonesia and the Philippines signed the Bangkok Declaration to create the Association of Southeast Asian Nations or ASEAN, as it now universally known.
— The Conversation AU

Asean’s decent track record in working for the common good — Moe Thuzar
When the Association for South-east Asian Nations (Asean) was established in 1967 amid tensions and mutual suspicions, its viability was met with some doubt as two earlier attempts at regionalism had failed. This was because the Association of South-east Asia in 1961, and the Greater Malayan Confederation in 1963, both could not enforce common regional interests over bilateral tensions and territorial disputes.
— Malay Mail Online

New Asia policy to swing Turkey into high gear, ASEAN envoys agree
Ambassadors from the Association of Southeast Asian Nations (ASEAN) member states in Ankara welcomed Turkey’s changing Asian policy and recent initiative to become the sectorial dialogue partner to the group, underscoring that there is much greater economic and political potential between the two sides.
— Daily Sabah

Asean course eyed to help MSMEs thru regional links
The Department of Foreign Affairs (DFA) is eyeing consultations with the Commission on Higher Education (CHED) and the Department of Education (DepEd) to design a course on the Asean to prepare the youth for the region’s economic integration.
— Business Mirror

Time for idealism is over in ASEAN
The Association of Southeast Asian Nations will celebrate its 50th birthday in August with much backslapping and bonhomie. In recent decades, its 10 members have prospered, leaving behind the dark shadow of the Cold War when battles raged on almost every front.
— Nikkei Asian Review

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Agencies to send maids to Hong Kong
The Cambodian government has selected six agencies to facilitate sending domestic workers to Hong Kong – with one saying they will begin sending maids by the end of the year – though rights groups yesterday warned of potential exploitation and abuses.
— The Phnom Penh Post

Ministry Vows to Stop Illegal Thai Border Crossings
Interior Minister Sar Kheng said on Wednesday that 100 to 200 Cambodians illegally cross the border with Thailand every day, well under an estimate from a U.N. agency that puts the figure at 3,000 to 4,000.
— The Cambodia Daily (paywall)

Exports to US bounce back on revised GSP
Exports to the US saw a modest rebound during the first half of the year, benefitting in part from new trade privileges that allow Cambodian-made travel goods to enter the world’s biggest consumer market duty-free, a Garment Manufacturers Association in Cambodia (GMAC) representative said yesterday.
— The Phnom Penh Post

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Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Indonesia issues e-commerce road map
The roadmap is expected to be issued at the end of this year and would not only regulate technology, but also cover issues such as logistics, cyber securities, taxation, human resources development and consumer protection.
– The Jakarta Post

Indonesia’s Strongest Brands Are 8% More Valuable Than Last Year
The strongest Indonesian brands have responded to rising consumer confidence and spending power by delivering quality products and services, purpose-led innovation and an exceptional experience – all factors that grow brand value.
– Business Insider

Indonesia resumes ore exports in policy reversal
The move comes after the Energy and Mineral Resources Ministry in January partially lifted a three-year ban on the export of raw minerals.
– Nikkei Asian Review

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Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

Secondary education in nation’s south gets boost via Japan grant
Students in southern Laos will be able to access better education facilities thanks to a grant from the Japanese government to construct 44 new school buildings.
— Vientiane Times

Chinese investor rings up majority stake in ETL
China’s Comba Telecom has vowed to provide Lao users with improved service and mobile experiences after it successfully acquired a majority stake in Laos’s ETL Public Company and stepped up its management improvement efforts.
— Vientiane Times

Mein opens investment door to ASEAN nations
A delegation from the North East headed by Manipur Chief Minister N Biren Singh and Arunachal Pradesh Deputy Chief Minister Chowna Mein had a series of meetings with ministers of the Lao People’s Democratic Republic at Vientiane on Tuesday.
— The Sentinel

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Malaysia Morning News

Compiled by Leakhena Khat @leakhenakhat

Hard-pedalling soft power, China helps launch $13b Belt and Road rail project in Malaysia
China and Malaysia broke ground on Wednesday (Aug 9) on a $13 billion rail project linking peninsular Malaysia’s east and west, the largest such project in the country and a major part of Beijing’s Belt and Road infrastructure push.
— Channel NewsAsia

Upcoming hub brings in RM4 bln to Sarawak
Sarawak company KHK Development Sdn Bhd (KHK) and Tianjin Government state-owned Tianbei Heping Development Pte Ltd (Tianbei Heping) yesterday signed an agreement to form a joint venture (JV) company to undertake the development of a new healthcare hub; Kuching Integrated International Medical Centre (KIMhub).
— The Borneo Post

Malaysian forex reserves set to hit US$100 bln mark
Malaysia’s foreign exchange (forex) reserves are poised to hit the US$100 billion mark as forex reserves rose by US$500 million to US$99.4 billion in July.
— The Borneo Post

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Myanmar Morning News

Compiled by Sreypov Men @MenSreypov

Unbanked population drives cards boom
THE LARGE number of Myanmar people without bank accounts creates room for growth in the use of cards and e-wallets in the country over the next few years, bankers said at the recent Myanmar Banking and Payments Conference organised by Sphere Conferences.
— Eleven Myanmar

Yangon receives mobile power generator by GE
Yangon will deploy a new K30 billion (US$22 million) 25-megawatt mobile generator to meet the city’s electricity demand during peak periods and emergencies.
— Myanmar Times

More FDI essential for substantial increase in garment exports
Foreign direct investments (FDI) in labour-intensive activities such as garment exports should be actively promoted from China and elsewhere in order to facilitate Myanmar’s economic transformation, according to the latest briefing paper published by a UK-based think tank.
— Myanmar Times

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Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Duterte vows to resign if son proven corrupt
PRESIDENT RODRIGO R. Duterte on Wednesday vowed to resign if one of his children, particularly his vice-mayor son, is found involved in a corruption scandal hounding the Bureau of Customs (BoC).
— BusinessWorld Online

PH enters $3T global Halal market
THE Philippine Halal Export and Development Promotion Board led by the Department of Trade and Industry (DTI) recently adopted the implementing rules and regulations (IRR) of the Philippine Halal Export Development and Promotion Act of 2016 (RA 10817).
— Sun Star

PSEi flattened by poor earnings, Chelsea
The Philippine Stock Exchange was marginally lower on Wednesday, with analysts pointing to lackluster profit results and poor investor interest in a newly-listed logistics firm.
— The Manila Times

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Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore is world leader in e-government penetration: survey
SINGAPORE has retained its first placing in the world in terms of the quality of “e-government”, according to a joint survey conducted by Japan’s Waseda University and the International Academy of Chief Information Officers (CIOs).
— The Business Times

Manulife eyes US$2b more of Asian office assets
MANULIFE Real Estate is looking to invest over US$2 billion into office assets in Asia, following its maiden acquisition of a prime office building in Singapore’s central business district (CBD) in April.
— The Business Times

F&N’s profit up 60% to $60.7m
According to the group, including the exceptional items of $1.2b arising from the realisation of fair value reserves upon change of interests in Vinamilk, attributable profit soared to $1.3b, from $38.6m in the same corresponding period last year.
— Singapore Business Review

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Thailand Morning News

Compiled by John Le Fevre @photo_journ

Water Resources Department to be put under the supervision of PM’s Office
The National Water Resources Committee chaired by Prime Minister Prayut Chan-o-cha agreed on Wednesday (Aug 9) to transfer the Water Resources Department from the Ministry of Natural Resources and Environment to the Prime Minister’s Office.
— Thai PBS

PM: Registration of migrant workers will not be extended
Prime Minister Prayut Chan-o-cha has expressed satisfaction with the registration of migrant workers while confirming that the registration will not be extended again.
— NNT

Fast train linking 3 airports awaits bids
The latest feasibility study on building a high-speed train to link the three airports of Don Mueang, Suvarnabhumi and U-tapao in nearby Rayong province has been completed. The 280-billion-baht project…
— Bangkok Post

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Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Vietnam’s industrial park occupancy rate reaches almost 73%
The occupancy rate of 223 industrial parks (IPs) currently in operation in Vietnam has reached 73%, according to a report released by the Ministry of Planning and Investment.
— Nhan Dan

Vietnam seeks windfall selling $7-billion brewery in slices
Vietnam’s plan to sell its Saigon Beer Alcohol Beverage Corp. stake in tranches may help the government extract the best price after the brewer’s market value surged to $7 billion.
— Business Mirror

Hanoi targets parts supply growth
Hanoi needs more favourable policies to boost the parts supply industry, experts said at a recent conference on developing the industry in the capital.
— VietnamPlus

Sneaky Chinese buyers swaying Vietnam’s pepper prices
According to the Vietnam Pepper Association (VPA), the pepper market has witnessed fluctuations of between 10-20 percent in pepper prices since late July.
— VietnamNet Bridge

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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.