Asean Morning News For October 17

Asean Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Asean Open Skies implementation remains slow — IDEAS
Although the Asean Single Aviation Market, or better known as Asean Open Skies agreement, has been fully ratified by member countries in April last year, the implementation of actual freedom remains slow in the eyes of independent think tank Institute for Democracy and Economic Affairs (IDEAS).
— The Edge markets

Will Trump derail Obama’s legacy in SEA?
As the administration of US President Donald Trump enters its tenth month, one of the most frequently asked questions is whether he will try to take down his predecessor’s legacy in Southeast Asia. The answer is both no, and yes.
— Bangkok Post

Asean moves closer to common market
The Association of Southeast Asian Nations (Asean) is moving further closer to creating a common market, but member-nations are concerned that the normalization of monetary policy rates in the United States would hinder growth in the region, according to Finance Secretary Carlos G. Dominguez III.
— Philippine Daily Inquirer

Asean MPs Condemn Cambodia Crackdown on Opposition
A group of Asian parliamentarians on Friday condemned the Cambodian government’s crackdown on the opposition, which it said was leading to one-party rule.
—VOA

ASEAN’s anti-terror coordination problem
ASEAN member states gathered last month to define and strengthen the bloc’s position on counter-terrorism. However, differences between members and the principle of non-interference are among the biggest obstacles to a coordinated strategy.
— Global Risk Insights

ASEAN moves to boost air connectivity
The Association of Southeast Asian Nations (ASEAN) has taken steps to further integrate its skies and facilitate passenger flow among member countries.
— Flight Global

Indonesia encourages Asean currencies in trade
Indonesia’s central bank said on Monday it will allow transaction settlement for bilateral trade between Indonesia, Malaysia and Thailand to be conducted in local currencies.
— Bangkok Post

Startups tapped to rescue disaster-prone ASEAN region
‘Startups to the Resque’ relies on the spirit and dynamism of the youth to propose solutions for disaster resilience and recovery
— Rappler

Can ASEAN Help End the Rohingya Crisis?
Since August 25, 270,000 Rohingya are reported to have fled Burma to escape violence and persecution inflicted by the Burmese military, who have reportedly killed hundreds. Despite calls from world leaders such as fellow Nobel Peace Prize laureates Desmond Tutu and Malala Yousafzai to stop the violence, Burmese leader Aung San Suu Kyi has instead supported the military’s crackdown, claiming that critics of her policies were being deceived by “a huge iceberg of misinformation.”
— Geopolitical Monitor

Al Rajhi Bank to further penetrate into ASEAN
Al Rajhi Bank Malaysia will continue with plans to further expand operations into the region, targeting neighbouring markets such as Singapore and Indonesia, according to chairman Datuk Seri Dr Nik Norzrul Thani Nik Hassan Thani.
— Marketing

Chinese hegemony spreading across ASEAN
There is little doubt that China has been able to dominate individual nations within the Association of Southeast Asia Nations (ASEAN), which has contributed to it subverting the disunited organisation as a whole. The only question is to what degree will it continue to expand its influence.
— Outlook

PHL lags behind ASEAN peers in tourism arrivals
The Philippines is a laggard compared with Association of Southeast Asian Nations (ASEAN) peers when it comes to the number of tourist arrivals.
— GMA News Online

Challenges for ASEAN As It Turns 50
The Association of Southeast Asian Nations (ASEAN) turned 50 this year. Established by just five countries in Southeast Asia, this regional organization has overcome a number of crises through its history, including the communization of Indochina, a civil war in Cambodia, the end of the Cold War and the Asian currency crisis.
— Tribune Content Agency

ASEAN’S Largest Exhibition on LED Lighting & Technology is Back with Its 6th Edition, Presenting Excellent Business Opportunities
The eagerly awaited 6th Edition of the LED Expo Thailand is all set to explore new boundaries with more than 300 exhibitors, prepping their latest to display on an expanse of over 20,000 sqm of exhibit area. A footfall comprising 15,000 international trade visitors not only from the ASEAN region as well as from across the world is expected to throng the Challenger 1 Hall of the Impact Exhibition and Convention Centre during 10-12 May ’18. The Expo witnesses participation from both exhibitors and visitors in a large number.
— Led Inside

Cambodia Morning News

Compiled by Sreypov Men @MenSreypov

Cambodian rubber exports rise 33%
Cambodia’s rubber exports to the international market saw an increase of 33% in the first nine months of 2017, while the average price for the commodity went up 53%, compared with the same period last year.
— Bangkok Post

Cambodia’s parliament votes for party law changes as opposition future in limbo
Cambodia’s parliament voted to change party laws on Monday to re-distribute seats if a party is dissolved after the government filed a lawsuit earlier this month to dissolve the main opposition party, part of an escalating political crisis.
— Today Online

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Indonesia Morning News

Compiled by Sreypov Men @MenSreypov

Indonesia Faces Challenges in Infrastructure, Tax, Poverty
Indonesia is on track to become a trillion-dollar economy and should be the envy of Southeast Asia. Yet on some key measures, the region’s biggest economy is falling behind.
— Financial Tribune

President Jokowi inaugurates Baswedan, Uno as Jakarta governor, vice governor
President Joko Widodo (Jokowi), at the State Palace, here, Monday, inaugurated and swore in Anies Baswedan and Sandiaga Uno, respectively as the governor and vice governor of Jakarta for the 2017-2022 period.
— Antara

Indonesia Hunts For Investors for Projects Worth Hundreds of Billions
Indonesia will turn to private investors for the hundreds of billions of dollars in investment needed to develop the archipelago’s infrastructure and natural resources, President Joko Widodo said, brushing off claims he was increasingly becoming an economic nationalist.
— Bloomberg

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Lao PDR Morning News

Compiled by Leakhena Khat @leakhenakhat

NA session opens as measures to drive economic growth announced
A review of the implementation of the National Socio-Economic Development Plan for 2017, discussions on plans for the coming year and introduction of draft laws up for debate were on the agenda as the National Assembly (NA) kicked off its fourth ordinary session yesterday in the capital.
— Vientiane Times

Asean-Japan Centre recommits to sustainable regional tourism initiative
The Asean-Japan Centre in Tokyo has reaffirmed its continued commitment to future ‘Interpretive Planning’ programmes at main Asean heritage sites to achieve sustainable tourism in the region.
— Vientiane Times

Govt seeks funding boost as budget deficit biteseeConten_NA.html
The government will require 14.23 trillion kip in response to a budget deficit for 2017 after finding that the country will face a revenue shortfall again this year.
— Vientiane Times

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Malaysia Morning News

Compiled by Kongleaphy Keam @kongleaphy1

Malaysia’s MTD Capital seeks to build New Clark City gov’t center for P121.8B
Malaysian firm MTD Capital Bhd has submitted to the Bases Conversion and Development Authority (BCDA) an unsolicited proposal to build the 207-hectare New Clark City government center at a cost of P121.8 billion.
—Inquirer.net

Malaysian palm oil prices make further gains on higher crude oil, stronger exports
Malaysian palm oil futures extended gains on Monday evening, recording a fourth straight day of wins tracking higher crude oil prices and stronger export data from cargo surveyors.
— The Star Online

Malaysia rolls out red carpet for Qatar’s emir
Malaysia on Monday rolled out the red carpet for Qatar’s emir, who is on his first trip to Southeast Asia four months after a diplomatic crisis erupted between his nation and four Arab countries.
— The Kansas City Star

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Myanmar Morning News

Compiled by Kongleaphy Keam @kongleaphy1

THAIBEV BUYS MYANMAR DISTILLERY CO. FOR S$1 BILLION
ThaiBev, the Thailand-based spirits and beer maker, has bought a 75% stake in Myanmar Distillery Company (MDC), the producer of Myanmar’s whisky Crown Royal, and its supply chain, for S$1 billion (US£494.4m).
— The Drink Business

SMRT partners Japan, Myanmar firms to offer limousine service in Yangon
Singapore’s largest public transport operator will team up with Japanese trading house Toyota Tsusho Corp and a Myanmar company to offer a joint limousine service in Yangon to cater to the need for premium transit opportunities.
— Today Online

Central Bank of Myanmar approves loans without collateral
Local banks are now permitted to extend loans without the need for collaterals, U Set Aung, Deputy Minister at the Ministry of Planning and Finance, told The Myanmar Times at the 5th Asia SME Conference in Naypyitaw on October 14.
— Myanmar Times

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Philippines Morning News

Compiled by Leakhena Khat @leakhenakhat

OFW remittances hit $2.8B in Aug
Overseas Filipino workers (OFWs) sent home $2.8 billion in August, the Bangko Sentral ng Pilipinas reported on Monday, with year-on-year growth of 9.4 percent the fastest pace seen in five months.
— The Manila Times

Pork output seen growing by 3.15% in 2018
Philippine pork production next year could reach 1.635 million metric tons (MMT), 3.15 percent higher than the projected output of 1.585 MMT for this year, according to the United States Department of Agriculture (USDA).
— BusinessMirror

Pulse Asia: 88% of Filipinos support drug war
All Filipinos are aware of the Duterte administration’s war on hard drugs, with majority of them or some 88 percent supporting its campaign, revealed a new survey released by Pulse Asia Research Inc. Monday.
— Philippine News Agency

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Singapore Morning News

Compiled by Leakhena Khat @leakhenakhat

Singapore exports slip 1.1% in September on electronics slowdown
SINGAPORE non-oil domestic exports (NODX) slipped 1.1 per cent from a year ago in September after a 16.7 per cent jump in August, figures released by International Enterprise (IE) Singapore show.
— The Business Times

SMEs grapple with rising costs, stiff competition: survey
THE recent economic data in Singapore may paint a rosy picture, but a recent report found that small and medium-sized enterprises (SMEs) are not out of the woods yet.
— The Business Times

Cheaper rivals target Singapore’s aviation maintenance sector
Singapore, the dominant hub for aircraft maintenance, repair and operations (MRO) in southeast Asia, the world’s fastest-growing aviation market, is under threat from low-cost rivals in nearby Indonesia, Thailand and Malaysia.
— Reuters

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Thailand Morning News

Compiled by John Le Fevre @photo_journ

UTCC sees welfare cards pusing Q4 growth to 4 4%
The Economic and Business Forecasting Center of the University of the Thai Chamber of Commerce has found the government’s welfare card program is boosting circulation and could hike up spending in the fourth quarter by up to 4.4 percent.
— NBT World (video)

PM calls urgent meeting to combat flooding
Prime Minister Prayut Chan-o-cha on Monday (Oct 16) called an urgent meeting to monitor the flooding situation while the Bangkok Metropolitan Administration has stepped up preparations for another round of deluge after Bangkok was told to brace for more rain until Oct 20.
— Thai PBS

Huge deluge on the way
A fresh round of torrential downpours is expected in the lower Central region including Bangkok over the next few days because of a monsoon trough, according to the Thai Meteorological Department (TMD).
— Bangkok Post

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Vietnam Morning News

Compiled by Sreypov Men @MenSreypov

Prime Minister values US Congress’s support to relations with Vietnam
Prime Minister Nguyen Xuan Phuc met with a delegation of US parliamentarians led by Ted Yoho, Chairman of the Asia and the Pacific Subcommittee at the US House Committee on Foreign Affairs, in Hanoi on October 16.
— Nhan Dan Online

Vietnam braces for typhoon Khanun after floods kill 72
Vietnam braced for typhoon Khanun on Monday (Oct 16) after destructive floods battered the country’s north and centre last week, killing 72 people, the disaster prevention agency said.
— Channel NewsAsia

Vietnam to hold second auction of Vinamilk shares next month
Vietnam’s State Capital Investment Corporation, better known as SCIC, is planning to hold a public auction for a more than 3% stake in Vietnam Dairy Products (Vinamilk) on the Ho Chi Minh City stock exchange on Nov. 11.
— Nikkei Asian Review

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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.