Asean morning news for April 26

Asean morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

East Asia, Pacific Growth Expected To Moderate As Global Headwinds Persist, WB Says
Growth in developing East Asia and the Pacific (EAP) is projected to soften to 6.0 per cent this year and 2020, down from 6.3 per cent in 2018, largely reflecting global headwinds and a continued gradual policy-guided slowdown in China.
— KPL

RCEP agreement to be signed next year
The Regional Comprehensive Economic Partnership (RCEP), a proposed free trade agreement between Asean and the six Asia-Pacific states with which it has existing free trade agreements, is expected to be signed next year.
— Khmer Times

China lobbies ASEAN on yuan use, cracking dollar dominance
ASEAN and its East Asian partners are considering adding the yen and the yuan to their $240 billion currency swap safety net, a move that would reduce the framework’s overreliance on the dollar while increasing China’s economic clout.
— Nikkei Asian Review (paywall)

Southeast Asian Leaders Arrive in Beijing for China’s Infrastructure Forum
Southeast Asian and world leaders gathered in Beijing on Thursday for the three-day One Belt, One Road (OBOR) forum, aiming to reap economic deals amid China’s unprecedented moves to assert its territorial claims in the South China Sea.
— Benar News

Thailand’s green meetings prove Asean’s commitment to sustainability goals
When Singapore handed the Asean helm to Thailand last November, Prime Minister Prayut Chan-o-cha unveiled the theme of its chairmanship for this year as “Advancing Partnership for Sustainability”.
— The Nation

DTI seeks removal of Asean trade barriers
THE Department of Trade and Industry (DTI) is pushing for the study and removal of “unnecessary” nontariff barriers imposed by some members of the Association of Southeast Asian Nations (Asean) to ease market access for exports in the region.
— The Manila Times

Southeast Asia businesses challenged by deluge of marketing data
A third of enterprise organizations in Southeast Asia (SEA) cited an overwhelming volume of data, as well as an inability to integrate these data as the two top marketing challenges that they face.
— CMO Innovation

Fight Against Malaria Reaches Tipping Point
Malaria, despite being preventable and treatable, still kills over half a million people every year globally.
— Asia Sentinel

Asean region gets more attractive for global factories
SOUTH-EAST Asia is home to some of the world’s cheapest production for global manufacturers, according to a new industry ranking index.
— The Business Times

Belt & Road Impacting Asean’s Industrial, Logistic Sector, Says Knight Frank’s Holt
Nicholas Holt, Asia-Pacific head of research at Knight Frank, discusses China’s Belt & Road initiative and its potential impact on real estate in the region. He speaks on “Bloomberg Markets: Asia.”
— Bloomberg (video)

E-payments pave the way for a closer-knit Asean: Report
CASH is still king in South-east Asia, but a slew of digital payment methods could make regional transactions much simpler, one bank has said in a new report.
— The Business Times

Wood Mackenzie: Southeast Asian upstream M&A could hit US$14 billion
According to a new report by Wood Mackenzie, Southeast Asia could take centre stage in the region’s upstream M&A activity in 2019, with up to US$14 billion worth of assets potentially switching hands.
— Oilfield Technology

Investment tech must ride the swell of fintech in Southeast Asia
If tech consumers had their own Maslow’s hierarchy of needs, internet access would form the bottom rung, and financial-technology would be the one above it.
— e27

ASEAN Charity Food Fair takes place in Indonesia
The ASEAN Women’s Circle (AWC) organised the ASEAN Charity Food Fair 2019 in Jakarta, Indonesia, on April 25 with the aim to foster solidarity and cultural exchange among women from the regional countries and raise funds in support of disadvantaged children.
— Vietnam Plus

ASEAN Automotive Aftermarket Is Predicted to Surpass US$ 48 Bn in Revenues by 2026 end
In Future Market Insights’ market report titled, “Automotive Aftermarket: ASEAN Industry Analysis and Opportunity Assessment, 2016-2026”, poor road infrastructure and extended vehicle life have been identified as profitable factors for the growth of the automotive aftermarket in ASEAN.
— Amazing Newspaper

Korean Wave in ASEAN keeps going strong
The Korean Wave, known widely as Hallyu, keeps making headlines with the presence of boy band BTS and girl bands Blackpink and Twice.
— The Jakarta Post

Cambodia morning news

Compiled by Piseth Pov @piseth6666

Cambodia satisfies insatiable meat demand with imports
Cambodia imported 54,149 tonnes of livestock and meat to meet domestic demand last year, according to a Ministry of Agriculture, Forestry and Fisheries report.
— The Phnom Penh Post

UN Expert Denied Access to Detained Cambodia Opposition Leader
UN Special Rapporteur on Human Rights in Cambodia Rhona Smith again has been refused permission by Cambodia’s government to meet and speak with detained political opposition leader Kem Sokha while she visits the country from April 29 to May 9, Smith said on Thursday.
— Radio Free Asia

Thailand and Cambodia cooperate on cross border migrant workers
Protecting migrant workers rights and enhancing multi-stakeholder dialogue to prevent human trafficking between Thailand and Cambodia will be front and centre at an international conference in Siem Reap, Cambodia today, April 25.
— AEC News Today

See here for more of today’s Cambodia morning news

Indonesia morning news

Compiled by Piseth Pov @piseth6666

Indonesia wants BRI projects to be in line with national development plan, no government debt
Indonesia has said that projects under China’s Belt and Road Initiative should be in line with its own national development strategy, be private sector-driven and not add to government debt.
— Straits Times (annoying popups)

Indonesia Seeks to Advance Developing Countries’ Agenda as Host of ABAC II Meeting
Indonesia finds itself in a delicate position to advance fellow developing countries’ agenda on the digital economy, inclusive development and women’s empowerment, through the Asia-Pacific Economic Cooperation, or APEC, amid a standoff between the world’s two biggest economies.
— Jakarta Globe

Government’s super deductible tax incentive launched on 1st half 2019
The Government of Indonesia is going the whole hog to offer fiscal incentives in the form of tax relief to industries investing in vocational and research and development activities in the initial half of 2019.
— Antara News

See here for more of today’s Indonesia morning news

Lao PDR morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Cabinet agrees to lower electricity price, orders action to strengthen economy
The government cabinet has agreed to revise the electricity unit price structure to lower the cost of electricity, as an incentive to boost investment and productivity.
— Vientiane Times

Report: Food prices the cause of mounting inflation in Laos
THE inflation rate continued to rise in March, with the Lao National Statistics Bureau attributing the growth of the annual Consumer Price Index (CPI) due to rising food prices, and not the depreciation of the kip as many people believed.
— The Phnom Penh Post

KOICA furthers support for Savannakhet mapping project
The Lao government and the Korea International Cooperation Agency (KOICA) have kicked off the Project for the Establishment of Geospatial Data Infrastructure and Capacity Building for Development of Special Economic Zones in Savannakhet province.
— Vientiane Times

See here for more of today’s Lao morning news

Malaysia morning news

Compiled by Sreypov Men @MenSreypov

Kuala Lumpur set to become smart city next year
Kuala Lumpur is likely to become a smart city by next year as Alibaba Cloud’s “Malaysia City Brain” pilot project is completed.
— The Star Online

Malaysia to implement vehicle entry permit for foreign vehicles entering from Singapore from October
Malaysia will enforce mandatory registration for foreign vehicles entering from Singapore from October, the government announced on Thursday (April 25).
— The Strait Times

Minister targets RM1.8b from healthcare tourism this year
Malaysia aims to generate up to RM1.8 billion in hospital receipts from healthcare tourism this year, said Health Minister Datuk Seri Dzulkefly Ahmad.
— Malay Mail

See here for more of today’s Malaysia Morning News

Myanmar morning news

Compiled by Sreypov Men @MenSreypov

China to increase Myanmar’s rice export quota to 400,000 tonnes: MOC
China has agreed to import 400,000 tonnes of rice from Myanmar via sea, increasing its import quota for Myanmar rice from 100,000 tonnes currently, U Khin Maung Lwin, assistant secretary from the Ministry of Commerce (MOC), told The Myanmar Times. “Rice can be shipped to China soon,” he said.
— Myanmar Times

Public mistrust slows adoption of e-commerce in Myanmar
The use of electronic payments in Myanmar, particularly at shopping centres and in online shopping, has been slowly catching on since the government made digital technology a priority in the 2015 National Export Strategy.
— Myanmar Times

3 people detained for drug plantation in Myanmar
Three people, including a U.S. national and two locals, have been detained by the Myanmar’s authorities for operating marijuana plantation in central Mandalay region, according to the Central Committee for Drug Abuse Control (CCDAC).
— China.org

See here for more of today’s Myanmar morning news

Philippines morning news

Compiled by Stella-maris Ewudolu @stmarisewudolu

Budget deficit narrows in Q1 due to budget delay
The national government’s budget deficit was much lower for the first quarter, according to the latest data from the Bureau of Treasury (BTr).
— CNN Philippines

ADB hikes Philippines lending program to $7.11 B
Improving water supply in the country is among the priorities of the Asian Development Bank (ADB) as it ramps up lending to the Philippines under its current country operations business plan (COBP), its top officials said.
— The Philippine Star

Gov’t will consider all offers for takeover of Hanjin shipyard
All offers from potential buyers of a strategically located but debt-laden Philippine shipyard will be welcome, the trade minister said on Thursday, ruling out barring Chinese firms over national security fears.
— Manila Bulletin

See here for more of today’s Philippines morning news

Singapore morning news

Compiled by Piseth Pov @piseth6666

Singapore’s GLP Plans $3 Billion IPO of U.S. Warehouses
GLP Pte, the Singapore-based developer of logistics properties, is planning an initial public offering for its U.S. operations that could raise about $3 billion, people with knowledge of the matter said.
— Bloomberg

230 people fall ill with gastroenteritis symptoms at Zhenghua Primary School
The authorities are investigating a gastroenteritis outbreak at Zhenghua Primary School, after 230 people fell ill with symptoms, including diarrhoea and vomiting.
— CNA (very annoying popups)

Industrial property market to hold firm in 2019, business parks seen as bright spot
THE industrial property market appears to have bottomed out, with analysts projecting a stable market outlook for this year and citing business parks as a likely outperformer.
— The Business Times

See here for more of today’s Singapore morning news

Thailand morning news

Compiled by John Le Fevre @photo_journ

Drought prevails nationwide
Drought has hit nearly all regions of the country, including the North, Northeast and South. Agencies have scrambled to distribute water to villagers to relieve the suffering.
— NNT

Thailand’s economy is headed for new recession
The key difference between a politician and an economist is that a politician establishes a goal, while an economist analyses the means to achieve that goal.
— Bangkok Post

See here for more of today’s Thailand morning news

Vietnam morning news

Compiled by Sreypov Men @MenSreypov

Vietnam Jan-Apr FDI inflows rise 7.5 pct y/y to $5.7 bln – ministry
Vietnam received $5.7 billion in foreign direct investments (FDI) in the first four months of this year, up 7.5 per cent from a year earlier, the Ministry of Planning and Investment said on Thursday. FDI has been a key driver of Vietnam’s economic growth. Companies with FDI account for more than 70 per cent of the Southeast Asian country’s exports.
— Devdiscourse

China becomes Vietnam’s 4th biggest foreign investor in 4 months: media
China has so far this year invested about 1.6 billion U.S. dollars in Vietnam, making it the country’s fourth largest source of foreign investment, daily newspaper Vietnam News on Thursday quoted the Foreign Investment Agency under the Vietnamese Ministry of Planning and Investment as reporting.
— China.org

Vietnam’s economy to grow 6.6 pct in 2019: World Bank
Vietnam is projected to post economic growth of 6.6 percent in 2019, driven by credit tightening, slower private consumption and weaker external demand, the World Bank in the country on Wednesday quoted the bank’s latest report on economies in East Asia.
— Xinhua

See here for more of today’s Vietnam morning news

The Asean morning news roundup and its individual country morning news round-ups are the most comprehensive hand-curated selection of news reports from around the Asean Economic Community (AEC) published. We scour hundreds of local and international news and websites to find the things that you need to know to start your working week day.

We clearly identify the source of the story, whether it is behind a paywall, a media release, or whether the site uses annoying pop-up advertising or auto-play video, in case those things annoy you. It’s all then packaged up in an easy to read format enabling you to make an informed choice of whether you want to learn more by clicking directly through to the original source, or keep on reading the headlines. AEC News Today: Governance, not government; policies not politics.