Asean Morning News For June 19

Asean Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Thai investors urged to expand in neighbouring countries
Labour-intensive industries, agricultural processing, electricity, garments, hospitality, retail, and spa are potential sectors where Thai investors can expand their investments in CLMV (Cambodia, Laos, Myanmar, and Vietnam), private experts who have invested in the CLMV countries said.
– The Nation

Thailand to develop master plan for closer ties with CLMV
Thailand is initiating a master plan for trade and investment collaboration with the CLMV (Cambodia, Laos, Myanmar and Vietnam) subregion to ensure all five countries continue to prosper amid strong global competition, Deputy Prime Minister Somkid Jatusripitak said recently
– The Nation

Big Data, ecommerce in Yunnan’s sights to boost cross-border tourism
Yunnan is on course to set up a Big Data centre and an ecommerce platform to seize on crossborder tourism opportunities with Southeast Asia, said officials.
– The Nation

Major Belt and Road gains for Asean
China is pouring record levels of investment into its Belt and Road Initiative – which calls for massive development of trade routes in the region – and Asean is emerging as a major beneficiary.
– The Straits Times

The dangers of underplaying the importance of ASEAN
Try imagining a world where the Middle East is at peace.
– The Australian Financial Review

ASEAN must contribute to common goods
High Level Policy Symposium on ASEAN kicked off on Sunday with well over 200 participants taking part in policy debates on the future of ASEAN in the next 50 years.
– The Nation

Expedia plays the Asian card
Online travel giant investing in technology, regional partners to grab customers
– Nikkei Asian Review (paywall)

Thailand, Korea discuss utilization of IoT platforms
Internet of Things (IoT) experts from Thailand and Korea will gather in Bangkok to discuss the utilization of IoT platforms and devices and foster business partnerships.
— koreatimes (press release)

The Asean agri-food trade: How is the Philippines faring?
This article takes a snapshot of Philippines and Asean trade in 2016.
The country’s major trading partners were: Indonesia, Malaysia, Singapore, Thailand and Vietnam.
— Inquirer.net

‘New southbound policy’ not affected by China: minister
China’s “One Belt, One Road” initiative would not effect the government’s “new southbound policy” as the two have different strategies and aims, Minister Without Portfolio John Deng (鄧振中) said on Saturday.
— Taipei Times

Single-window trade system seen integrated with ASEAN by Dec.
THE government’s trade facilitation customs system, the National Single Window (NSW), is expected to be linked with the rest of Southeast Asia by December.
— BusinessWorld Online

ASEAN opens more opportunities to students
SAN JOSE, Antique, June 17 (PIA6) – ASEAN integration leveled up the curriculum of Higher Education Institutions (HEIs), making graduates more competent and skillful for the job in domestic market and abroad.
— Philippine Information Agency

Cambodia Morning News

Compiled by Leakhena Khat @leakhenakhat

Platform to unify online trading on CSX
A central online trading platform expected to launch by the end of the year will allow investors to trade securities listed on the local stock market using a desktop computer or smartphone.
– The Phnom Penh Post

Government increasing audits on local businesses
The tax department has stepped up its use of audits to scour through the filings of companies and individuals and penalise those deemed to be evading or misreporting their taxes, foreign investment advisory and tax firm DFDL Cambodia warned yesterday.
– The Phnom Penh Post

US Brands Object to Draft Wage, Dispute Settlement Laws
A group representing some of the largest apparel brands in the U.S., including Gap and Levi Strauss, are urging Prime Minister Hun Sen to reconsider controversial provisions in a pair of draft laws on wages and labor disputes.
– The Cambodia Daily (paywall)

See here for more of today’s Cambodia Morning News >>>

Indonesia Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Thailand Sees More Tourists, but Indonesia Records Bigger Growth in Their Number
According to Thailand’s Ministry of Tourism and Sports, the country welcomed 12 million international visitors in the first quarter of 2017, almost 3 percent more than in the same period last year.
— Jakarta Globe

China’s Delong to build $950m steel factory in Morowali
China’s Delong Holdings Limited plans to build a stainless steel factory in the Morowali Industrial Park in Central Sulawesi with an investment of around US$950 million, an official with the company said on Friday.
— The Jakarta Post

Boeing closing in on US$5bil orders from Asian airlines
Boeing Co is closing in on about US$5bil in orders from two Asian carriers for its longest-ever 737, people familiar with the matter said.
— The Star Online

See here for more of today’s Indonesia Morning News >>>

Lao PDR Morning News

Compiled by Cara Navarro @cara_nav

Laos, Russia push for greater political, economic cooperation as foreign ministers meet in Moscow
Laos and Russia have agreed to strengthen their cooperative relations in areas related to politics and military capabilities as well as economics, trade, investment and technology.
– Vientiane Times

Lao rice producer eyes Chinese market
A Lao rice producer had her own products on display at the South and Southeast Asia Community Expo and Investment Fair (SSACEIF) in Kunming, Yunnan province, from June 12 to 18, in a bid to tap into the Chinese market.
– Vientiane Times

Bokeo province expects to reduce banana plantation sites
Authorities of Bokeo province confirmed they will not allow investors to expand areas for banana plantation projects, aiming to protect the environment and peoples’ health.
– Vientiane Times

See here for more of today’s Lao Morning News >>>

Malaysia Morning News

Compiled by Leakhena Khat @leakhenakhat

UMNOs Support For Hudud in Kelantan a Shrewd Najib Strategy
Attempts to amend Malaysia’s 1965 Criminal Jurisdiction Act, or RUU 355, have divided the country for more than two years now.
— AEC News Today

ADB-Bank of Thailand pilot project leverages online social networks to promote financial literacy for youth on first job
Gen Y (born between 1980 and 1995) in Thailand is spending is up to 80% of their income. 50% of Gen Y do not have savings, while 48% of them are unable to pay their debt on time. For an estimated 45%, spending exceeds income. There is rise in the levels of debt delinquency.
— Open Gov

Advancecon listing to raise RM56.7mil
Advancecon Holdings Bhd, which is en route to a listing on the Main Market of Bursa Malaysia on July 10, is raising gross proceeds of RM56.7mil from its initial public offering (IPO) price of 63 sen per share.
— The Star Online

See here for more of today’s Malaysia Morning News >>>

Myanmar Morning News

Compiled by Cara Navarro @cara_nav

Myanmar: close to lowest electricity production in Asia
AN official of General Electric (GE) said that Myanmar has one of the lowest electricity generations among the Asian countries, according to a report in Myawady newspaper yesterday.
– Global New Light of Myanmar

Japan constitutes nearly half of FDI in Thilawa SEZ
Japan has put investments of US$468 million into Thilawa Special Economic Zone (SEZ) so far, accounting for over 43 per cent of total foreign direct investments, according to Myanmar Japan Thilawa Development Limited.
– Global New Light of Myanmar

Environmental sustainability and meaningful CSR to boost investor confidence
EuroCham white Paper 2017, an advocacy document on trade and investment policies, released last week,identifies the potential for Myanmar’s growth and development in seizing the opportunities of green technologies, environmentally sound business practices and harnessing meaningful CSR.
– Mizzima

See here for more of today’s Myanmar Morning News >>>

Philippines Morning News

Compiled by Stella-maris Ewudolu @stmarisewudolu

Foreign debt slips to $73.8 B in March
The country’s foreign obligations decreased 4.9 percent in the first quarter as key external debt indicators remained at comfortable levels, the Bangko Sentral ng Pilipinas (BSP) reported over the weekend.
— The Philippine Star

Tax court orders P761-million refund to San Miguel Brewery
THE Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue (BIR) to issue a tax refund certificate of P761 million to San Miguel Brewery, Inc. for its San Mig Light brand.
— BusinessWorld Online

‘Fixing tax system to hike PHL revenues by P433B’
The government can collect some P433 billion in additional revenues, equivalent to 2.7 percent of GDP, by implementing reforms in the Bureau of Internal Revenue’s (BIR) tax policy and administration, according to the Department of Finance (DOF).
— Business Mirror

See here for more of today’s Philippines Morning News >>>

Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Consumer prices expected to rise 0.9% this year
Whilst inflation is set to 1.5%. Economists surveyed by Monetary Authority of Singapore (MAS) expects consumer price index to show a measly 0.9% growth this year, moderating from their consensus of a 1% expansion in the previous survey.
– Singapore Business Review

Singapore property stock may build on best rally in five years
Singapore property stocks are set for their best annual performance in five years, and strategists believe the rally is far from over.
– Today Online

Construction industry faces tough times
Push for new tech, dwindling contracts, competition from overseas among the woes
– The Straits Times

See here for more of today’s Singapore Morning News >>>

Thailand Morning News

Compiled by John Le Fevre @photo_journ

NSTDA & 9 technology institutes to produce more engineers
The National Science and Technology Development Agency (NSTDA) has signed a memorandum of understanding with nine technology universities to produce engineers and technicians for the Eastern Economic Corridor (EEC).
– NBT World (video)

IPD vows to drive out pirated goods
Pirated goods will be wiped out from six locations in the country in the next month, Intellectual Property Department (IPD) director-general Thosapone Dansuputra has vowed.
– Bangkok Post

See here for more of today’s Thailand Morning News >>>

Vietnam Morning News

Compiled by Cara Navarro @cara_nav

LG, Samsung, Toshiba; Any Brand, Best Price: Trademark Theft in Vietnam – VDO
Want a brand-name air conditioner, but don’t want to pay the cost of a genuine item? That’s not a problem in Vietnam. Simply nip on down to ‘cousin Nguyen’s’ local electrical appliance shop where their motto is any brand, best price.
– AEC News Today

HCM City lures 2.15 billion USD in FDI in six months
Ho Chi Minh City has attracted 2.15 billion USD in foreign directed investment (FDI) in the first half of 2017, doubling the figure in the same period last year, reported the municipal People’s Committee.
– VietnamPlus

VN targets parity between FDI, domestic firms
The need to bring about some degree of parity between foreign-invested and domestic firms while fostering increased linkages was highlighted at the Viet Nam Business Forum held yesterday in Ha Noi.
– Viet Nam News 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.