Asean Foundation & Thai Chulabhorn Scholarships for Asean Bachelor Degree Holders

Asean bachelor degree holders have until the end of October to get their application in for eight fully funded scholarships at Thailand’s Chulabhorn Graduate Institute (CGI).

– AEC News Today

The growth of Australian exports into ASEAN

New figures from the Australian Bureau of Statistics show horticulture exports have grown significantly over the past decade into the Association of Southeast Asian Nations (ASEAN), making it one of Australia’s strongest trade partners.

– Fresh Plazza

Exclusive: Impact investor Patamar Capital to invest over $6m in SE Asia

San Francisco-based impact venture capital firm Patamar Capital is planning to invest more than $6 million in Southeast Asia by the end of this year, a company executive said.

– Deal Street Asia

Au Bon Pain heads for CLMV

Mudman Plc, an authorised franchisee of Au Bon Pain bakery chain in Thailand, has obtained the rights to expand the bakery into Cambodia, Laos, Myanmar and Vietnam (CLMV).

— Bangkok Post

Asean-HK free trade deal ‘by this year’

The free trade agreement between Hong Kong and Asean is on track to be inked this year.

– The Straits Times

Why South Korea eyes Asean

Closer integration will be good for both but Seoul must jostle with Beijing and Tokyo for the region’s attention.

– The Straits Times

Siam Cement Group kicks off ASEAN’s first industrial-focused venture fund

Siam Cement Group (SCG), Thailand’s largest industrial conglomerate, has launched AddVentures, the first industrial-focused venture capital fund in ASEAN, the company said on Thursday.

– Deal Street Asia

Tackle issues early to ensure growth: IMF official

Cambodia stands to benefit from an uptick in global and regional economic growth but will need to diversify its economy, improve infrastructure and reduce obstacles to doing business if it is to continue on its impressive growth track, a visiting International Monetary Fund (IMF) official said yesterday.

— The Phnom Penh Post

Seaport debuts on stock market

Shares in Sihanoukville Autonomous Port (PAS), the state-owned enterprise that operates Cambodia’s only deep-sea port, debuted on Cambodia’s stock exchange yesterday after an initial public offering that raised $27 million.

— The Phnom Penh Post

CNRP to Push $500K Per Commune Plan in National Assembly

In what one observer said was simply an act of politicking, the opposition CNRP on Thursday said it would push its campaign pledge of giving $500,000 to every commune in the National Assembly.

— The Cambodia Daily (paywall)

Soekarno – Hatta Airport Train to Miss Initial Launch Target

Transportation Ministry said that the Soekarno – Hatta Airport Train will miss its initial launch target of July this year. The ministry’s Director General of Train Prasetyo Boeditjahjono said he could not confirm when the airport train will operate.

— Tempo.co

Glove mold manufacturer eyes up to Rp 48 million from IPO

Latex-glove mold manufacturer, PT Mark Dynamics Indonesia, announced on Tuesday its plan to raise between Rp 32 billion (US$2.4 million) and Rp 48 billion from an initial public offering (IPO) that will be slated for the later this year.

— The Jakarta Post

Chinese Ambassador Seeks Support from Kalla over Bullet Train

Chinese Ambassador to Indonesia Xie Feng asked support from Vice President Jusuf Kalla to secure the Jakarta – Bandung bullet Train project.

— Tempo.co

Thai agencies sued on row over Lao dam

Citizens of eight Thai provinces along the Mekong River are suing state agencies because they believe there was inadequate public participation in planning for the Pak Beng hydropower dam to be built by Laos.

— The Nation

ADB reviews public communications policy

The governments and private stakeholders of Laos, Thailand and Cambodia have now jointly consulted through videoconference, proposals for the Asian Development Bank’s most recent public communications policy review.

— Vientiane Times

Quang Nam University helps train Lao human resources

Quang Nam University in the central province of Quang Nam is said to be a prestigious training institution that helps train students for neighbouring Laos.

— Vietnam Plus

Tourists to pay more for accommodation in Malaysia with new tourism tax

TRAVELLING to Malaysia is about to get more expensive thanks to a new tourist tax which comes into effect in August.

— News.com.au

Malaysia’s Proton faces uphill climb back to ‘national’ stature

Even with support from Zhejiang Geely Holding Group, Malaysian automaker Proton Holdings has a difficult route to travel amid stalling sales at home as well as the duo’s underwhelming brand power abroad.

— Nikkei Asian Review

Malaysian incubator signs deal to boost China’s halal exports

A Malaysian technology and energy incubator has agreed to collaborate with companies in Hong Kong and China to produce and market halal-certified foods internationally.

— Food Navigator Asia

Government vows more reforms as it sees economy taking off this year

The government has plans to intensify reforms to boost growth and further attract foreign investments as it sees the economy taking off this year, said Union Minister U Kyaw Win of the Ministry of Planning and Finance.

– The Myanmar Times

Central bank to stop fixing kyat value

The Central Bank of Myanmar will no longer fix foreign currency exchange rates and will start introducing an interbank market rate in late 2017, according to Dr Sandar Oo, the managing director of the Ministry of Planning and Finance, at the Myanmar Investment Forum 2017 held at the MICC-2 in Nay Pyi Taw.

– Eleven Myanmar

Myanmar needs $650 billion of investment until 2030: Investment Forum

Some international organisations have estimated that Myanmar requires US$650 billion in investment until 2030 and US$320 billion needs to be invested in the country’s infrastructure, said Vice President Myint Swe.

– Eleven Myanmar

Philippines Eyes $2B Storage Facility For LNG Imports

The Philippines aims to build a $2-billion receiving and distribution facility for imported LNG, as it seeks to replace depleting domestic gas reserves that now produce a fifth of its power, the energy department said.

— Reuters

House plans takeover of casino, lotto licensing

The House of Representatives plans to take over the franchising and licensing functions of state agencies for companies going into casino, lottery, bus and mining operations.

— The Philippines Star

GIR hits 7-month high in May

The Philippines continued to build up its foreign exchange buffer, hitting a seven-month high of $82.07 billion in May due mainly to strong inflows as well as higher price of gold in the international market.

— The Philippines Star

Video game spending overtakes TV subscriptions in Singapore

According to the report, the past year marked a tipping point in which consumer spending on video games has overtaken consumer spend on TV in Singapore, which combines TV subscriptions, over-the-top and video on demand.

— Singapore Business Review



Singapore’s medical tourism threatened by Malaysia, Indonesia

Findings by AB Bernstein and Global Health and Travel noted Singapore as one of the top destinations in the region for medical tourism.

— Singapore Business Review



MOU opens doors to Myanmar for more Singapore firms

Homegrown transport and logistics firm Bok Seng Group signed an agreement with Myanmar’s Ayeyar Hinthar Group earlier this year to develop a one-stop logistics hub in the Pathein Industrial City — the region’s first large-scale industrial park.

— Today Online

Asean Foundation & Thai Chulabhorn Scholarships for Asean Bachelor Degree Holders

Asean bachelor degree holders have until the end of October to get their application in for eight fully funded scholarships at Thailand’s Chulabhorn Graduate Institute (CGI).

– AEC News Today

Thailand proposes palace budget of more than US$123 million

Thailand’s junta plans to allocate more than US$123 million for the monarchy in the 2018 budget, an apparent cut of more than 14 percent from this year, figures published on Thursday showed.

– Chanel News Asia

Commerce to update buying prices on mobile application for farmers

The Ministry of Commerce will update rice millers’ buying prices for rice production on a mobile application, Thai Farmers, so that farmers can check for fairer rice prices before selling to them.

– Thai PBS

PM seeks to cut input costs for business

Prime Minister Nguyen Xuan Phuc has issued Directive 26/CT-TTg fostering the growth of local companies with a special emphasis on input cost reduction, after one year of implementing Resolution 35 on business support and development.

– TalkVietnam

PM proposes Japanese banks buy ailing local banks

During his five-day visit to Japan, Prime Minister Nguyen Xuan Phuc recommended Japan’s Senshu Ikeda Bank acquire an ailing Vietnamese bank with a reasonable bad debt rate to hasten its plans to expand to the country.

– Vietnam EconomicTimes

Vietnam, RoK boost cooperation in mechanics, electronics

Information on Vietnam’s advantages, preferential policies and orientations in the mechanical and electronic field was updated at a workshop in Seoul, the Republic of Korea (RoK), on June 8.

– VietnamPlus

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.