Asean Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
US firms bullish on Asean despite TPP exit
American business enthusiasm in Southeast Asia is bent but far from broken even as the region grapples with a new trade framework and less US government involvement, according to a survey by the American Chamber of Commerce in Singapore.
— Bangkok Post
Graft single greatest concern for US firms in operating in Asean
US companies cited corruption as their single greatest concern in this region (except in Brunei and Singapore), followed by laws and regulations that inhibit business expansion, according to an Asean business outlook survey.
— The Edge Markets
Most Asian currencies weaken as North Korea concerns ease
MOST ASIAN currencies weakened on Tuesday as the US dollar strengthened for a second day as Hurricane Irma proved not as destructive as first feared and anxiety over North Korean weapons tests receded.
— BusinessWorld Online
Singapore to focus on digital economy, trade facilitation as Asean chair in 2018
SINGAPORE will pursue a set of tangible deliverables that aim to deepen regional connectivity, and position Asean as a region for seamless economic activity as the Republic take on Asean chairmanship in 2018.
— The Business Times
Singapore Set to Sign Free Trade Agreement with the Eurasian Economic Union by Year-End
Singapore is set to sign a Free Trade Agreement (FTA) with the Eurasian Economic Union (EAEU), a free trade bloc that includes Armenia, Belarus, Kazakhstan, Krygyzstan, and Russia.
— Asean Briefing
Japan courted for East-West Economic Corridor
Thailand is counting on Japan to play a bigger role not only in the country but also in Asean, asking the Japanese to join the development of a high-speed train network in the East-West Economic Corridor…
— Bangkok Post
Trade gap narrows
The Philippine Statistics Authority reported that the country’s total trade recorded a 2.3 percent growth in July 2017, higher than the previous month’s 1.5 percent growth.
— Malaya
S. Korea’s cosmetics exports to ASEAN jump 31.6 pct in 2016
Exports of South Korean beauty products to Southeast Asian countries soared 31.6 percent last year, amid surging demand for skin care and makeup items, a report showed Wednesday.
— Yonhap News
Integrated ASEAN holds strong cards as companies invest closer to key markets
AN ECONOMICALLY integrated Southeast Asia stands to gain from increasing global interconnection, but companies must embrace innovation and harness the power of data to thrive and survive in the rapidly changing business landscape.
— BusinessWorld Online
A pragmatic Asean will survive
THE Association of South East Asian Nations (Asean) was founded half a century ago at the height of the Vietnam War, with both Malaysia and the Philippines as founding member states. The founding of Asean was undoubtedly a bold and farsighted step taken by the various national leaders of Asean to group the major (at the time five) countries of Southeast Asia, hopefully to achieve some common goals.
— The Manila Times
Asean shirks regional duty
The Myanmar government has caused or allowed a human tragedy to escalate and turn murderous in its Rakhine state. The plight of the Rohingya has gone from bad to worse. A fledgling jihadist group has appeared in the mix. Nay Pyi Taw and an apparently confused and directionless Myanmar leader Aung San Suu Kyi have received and deserved condemnation from around the world. But from arguably the most important source there has been only an embarrassing and startling silence.
— Bangkok Post
Cambodia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Cambodian paper’s demise bad for business
One of Cambodia’s most respected independent newspapers, The Cambodia Daily, closed last week after being handed a US$6.3 million back tax bill with interest that its owners couldn’t pay.
— Asia Times
US ambassador rejects allegations of plotting in Cambodia
The US ambassador to Cambodia has hit back against claims the US is involved in plots against the Cambodian government and joined the chorus of international voices calling for the release of the country’s opposition leader.
— Financial Times
Fresh sand ‘fraud’, claims NGO Mother Nature, as sand numbers between Taiwan and the government appear to be off by more than 1.5M tonnes
More than $30 million in Cambodian sand exports registered by Taiwan appear to be missing from Cambodia’s customs records, according to data from both governments, marking yet another large-scale discrepancy in the Kingdom’s figures on the trade.
— The Phnom Penh Post
See here for more of today’s Cambodia Morning News
Indonesia Morning News
Compiled by Rama Ariadi @AriadiRama
Indonesia Manufacturing PMI Saw Sharp Rise in August 2017
Indonesia’s manufacturing PMI stood at 50.7 in August 2017 as compared to 48.6 in July. The PMI figure met the market expectation of 50.5.
— Market Realist
USA Plans to Impose 40% Anti-Dumping Duties on Indonesian Biodiesel
USA accuses the world’s largest palm oil producer and exporter of dumping biodiesel products on the American market. As a result US vegetable oils (particularly soybean oil) lack competitiveness.
— Indonesia Investments
Higher Open Called For Indonesia Stock Market
The Indonesia stock market has finished higher in three straight trading days, collecting almost 50 points or 0.9 percent along the way. The Jakarta Composite Index now rests just above the 5,870-point plateau.
— Business Insider
See here for more of today’s Indonesia Morning News
Lao PDR Morning News
Compiled by Leakhena Khat @leakhenakhat
Merely 39 % of Under 2 Children in Urban Areas Receive Minimum Acceptable Diet
The findings of recently conducted Sub-national Household Survey in five provinces suggest that among children of 6-23 months of age, only 39 per cent in urban areas and only 12.9 per cent in rural areas received the minimum acceptable diet.
— Lao News Agency
Lao businesses eye new markets at China expo
More than 120 booths set up by Lao businesses are displaying products at the 14th China-Asean Expo (CAEXPO) and the 14th China-Asean Business and Investment Summit (CABIS), hoping to expand their market and promote Lao products in the region.
— Vientiane Times
Revenue shortfall challenges 2018 growth target
Revenue shortfall is likely to force the government to maintain state investment in 2018 at the same level as this year, which will pose a challenge in achieving next year’s economic growth target, according to a government report.
— Vientiane Times
See here for more of today’s Lao Morning News
Malaysia Morning News
Compiled by Kongleaphy Keam @kongleaphy1
Economist sees trouble for Malaysian ports
Economist Hoo Ke Ping has warned of trouble for Malaysian ports, now that there are signs of closer relations between China and Singapore.
— Free Malaysia Today
KL-Singapore High-Speed Rail to contribute S$6.7b in GDP to both countries: Malaysia’s land public transport CEO
The Kuala Lumpur-Singapore High-Speed Rail (HSR) is expected to contribute RM21 billion (S$6.7 billion) in gross domestic product (GDP) to Malaysia and Singapore, as well as create 111,000 jobs by 2060.
— Channel NewsAsia
Malaysian companies resist investing in digitalisation
Malaysian companies still resist investing in digitalisation, particularly in the initial take-up, despite rising awareness, said Deputy International Trade and Industry Minister Datuk Chua Tee Yong.
— The Borneo Post
See here for more of today’s Malaysia Morning News
Myanmar Morning News
Compiled by Sreypov Men @MenSreypov
Myanmar expects 6 bln USD foreign direct investment yearly
Myanmar is expecting to attract about 6 billion U.S. dollars of annual foreign direct investment starting from 2018, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance said Tuesday.
— Xinhua
Regulatory roadmap needed for banking sector reform
Myanmar needs to establish a regulatory roadmap for the banking sector. This will give the local banks more clarity on the progress and timing of upcoming regulations, allowing them to gear up for further reform and growth.
— Myanmar Times
Bangladesh raises Rohingyas with India, seeks intervention
In a first, the Bangladesh government has raised the issue of Rohingya refugees with the Government of India as the crisis continues to deepen, according to senior diplomatic sources.
— Asia Times
See here for more of today’s Myanmar Morning News
Philippines Morning News
Compiled by Stella-maris Ewudolu @stmarisewudolu
Gov’t plans $1-B global bond sale
THE NATIONAL GOVERNMENT plans to raise $1 billion from a global bond sale to help finance next year’s P3.767-trillion national budget, which now awaits legislative approval, documents from the Bureau of the Treasury showed.
— BusinessWorld Online
House cuts funding for 3 gov’t agencies to P1,000 each
The House of Representatives has approved a P1,000 budget for three government agencies for 2018 in plenary debates.
— ABS-CBN
PH trade deficit narrows in July to $1.65-B
Currency, stocks and bond trading in the country were suspended due to the bad weather, but several corporate developments still moved throughout the day. The local bourse is expected to sway investor sentiment for the rest of the week.
— ABS-CBN (video)
See here for more of today’s Philippines Morning News
Singapore Morning News
Compiled by Leakhena Khat @leakhenakhat
Singtel to close copper-based ADSL networks
Singtel has revealed plans to progressively shut down its copper-based ADSL networks as part of a push to accelerate fiber based service adoption to business and residential customers.
— Telecom Asia
Who is Halimah Yacob, soon to be Singapore’s first female President?
Madam Halimah Yacob is set to become Singapore’s first female President after she submits her nomination papers on Wednesday (Sep 13).
— Channel NewsAsia
Singapore to focus on e-commerce, digital economy when it takes over Asean chair
SINGAPORE will focus on e-commerce and the digital economy as well as improve trade facilitation in the region when it takes over the Asean chairmanship in 2018. Among other things, the Republic is looking to achieve a single window for Customs clearance.
— The Business Times
See here for more of today’s Singapore Morning News
Thailand Morning News
Compiled by John Le Fevre @photo_journ</h6
Japan, Thailand sign 7 deals to strengthen economic ties
THE THAI GOVERNMENT and its Japanese trade counterpart yesterday signed seven formal agreements covering industrial upgrades, investment in the Eastern Economic Corridor (EEC), human development, and support for small and medium-sized enterprises.
— The Nation
Thailand suspends international flights by some Thai airlines
Thailand’s military government has suspended international flights by Thai airlines that have not received new operator certificates from the country’s aviation body, a spokesman said.
— Reuters
PTTGC announces $4 billion five-year-investment plan for eastern Thailand
PTT Global Chemical Pcl, Thailand’s largest petrochemical producer, on Tuesday announced a $4 billion investment plan over the next five years in an industrial development on the eastern seaboard.
— Reuters
See here for more of today’s Thailand Morning News
Vietnam Morning News
Compiled by Sreypov Men @MenSreypov
Education in Vietnam: Opportunities and Challenges for Investment
Vietnam is currently one of the best destination for foreign investment in Southeast Asia. The country’s GDP is forecast to grow by 6.5 percent in 2017 and, among a variety of sectors, the demand for a high-quality education is reaching new heights, providing favorable opportunities for foreign investors to enter the market.
— Vietnam Briefing
Domestic gold prices fall sharply
On the Hà Nội market, selling price of one tael, or 1.205 ounces, of State-owned SJC’s gold declined by VNĐ190,000 (US$8.3) to VNĐ36.75 million.
— Viet Nam News
Vietnam To Introduce Customs Bond To Facilitate Customs Clearance
Vietnam will be introducing a customs bond system to facilitate customs clearance and reform import and export procedures.
— Vietnam Briefing
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.
Asean Morning News For September 13 added by Stella-maris Ewudolu on
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Stella-maris Ewudolu
Between November 2010 and February 2012 she was a staff writer at Daylight Online, Nigeria writing on health, fashion, and relationships. From 2010 – 2017 she worked as a freelance screen writer for ‘Nollywood’, Nigeria.
She joined AEC News Today in December 2016.
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