ASEAN and the world

The Thai House of Representatives on July 3rd passed a 3.3 trillion THB (106 billion USD) budget bill for the 2021 fiscal year, with 273 for, 200 against and 3 abstentions.

(CPV) - The Asian Development Bank (ADB) has approved a USD200 million concessional loan to improve power supply and distribution systems in Nepal.

(CPV) - The Asian Development Bank (ADB) approved a USD25 million concessional loan and a USD25 million grant on June 26th 2020 to help the Government of Maldives fund its response to the coronavirus disease (COVID-19) pandemic.

An expert of the Republic of Korea (RoK) has highlighted the role of the Regional Comprehensive Economic Partnership (RCEP) in dealing with protectionism, especially in his country.

Singaporean Prime Minister Lee Hsien Loong has called for greater economic integration and cooperation and unity among ASEAN member nations to prevent the COVID-19 pandemic from permanently damaging their economies.

(CPV) - The coronavirus disease (COVID-19) pandemic continues to drag on local currency bond markets in emerging East Asia as investment sentiment globally and in the region wane and containment measures limit economic activity, says the latest issue of ADB's Asia Bond Monitor.

(CPV) - Developing Asia will barely grow in 2020 as containment measures to address the coronavirus disease (COVID-19) pandemic hamper economic activity and weaken external demand, according to a new set of forecasts from the Asian Development Bank (ADB).

The rise of Vietnam has been highlighted in a recent survey of the Australian Chamber of Commerce (AustCham), as Vietnam is now considered the most favourable place to expand business, surpassing the Philippines and Myanmar in recent years as well as Australia’s long-term business partners namely Malaysia and Singapore.

The Indonesian government has allowed nine sectors to resume their activities, according to head of the COVID-19 Task Force Doni Monardo.

The ASEAN Women for Peace Registry (AWPR) convened an online meeting on June 5th, where delegates exchanged information on activities and initiatives regarding women, peace, and security.

Economic ministers from ASEAN member nations and the three partners of China, Japan, and the Republic of Korea (known as ASEAN+3) adopted a joint statement on June 4th on mitigating the economic impact of COVID-19.

The Garment Manufacturers Association in Cambodia (GMAC), the Cambodia Footwear Association (CFA) and the European Chamber of Commerce in Cambodia (EuroCham) on June 2nd requested the European Commission to postpone its withdrawal of the ‘Everything But Arms’ (EBA) preferential trade scheme for 12 months so that the apparel, footwear and travel goods sectors recover.

(CPV) - The Asian Development Bank (ADB) has raised 21 billion Mongolian togrog (MNT), about USD7.5 million, in a groundbreaking issue of the first offshore MNT-linked nomad bonds. The issue sets a new benchmark in the international bond market for frontier currencies.

Quang Ninh province emerges as an ideal destination for investors who want to diversify production activities and expand their supply chains outside China. "For investors operating in Guangdong (China), Quang Ninh is a destination worth considering in the plan to relocate production bases to Vietnam," said Pritesh Samuel, an expert from Dezan Shira & Associates Company.

(CPV) - Asian Development Bank (ADB) President Masatsugu Asakawa and United Nations Economic and Social Commission for Asia and Pacific (ESCAP) Executive Secretary Armida Salsiah Alisjahbana on June 3rd 2020 discussed enhancing cooperation to help the region as it addresses the novel coronavirus disease (COVID-19) pandemic.

The novel coronavirus SARS-CoV-2 that causes COVID-19 is still spreading in Southeast Asian countries such as Indonesia, the Philippines, and Malaysia, as they reported many more cases on June 2nd.

(CPV) - The Government of the Democratic Republic of the Congo (DRC) has confirmed the death of five people – including one 15-year-old girl - due to Ebola in Mbandaka, the capital of Équateur Province in the north-western part of the country. The deaths occurred between the 18th and 30th of May but they were only confirmed as Ebola-related on May 31st 2020.

(CPV) - Asian Development Bank (ADB) President Masatsugu Asakawa and President of the Republic of Azerbaijan Ilham Aliyev on June 1st 2020 discussed how ADB can support the government’s response in combating the impact of the novel coronavirus disease (COVID-19) pandemic.

(CPV) - The Asian Development Bank (ADB) has approved a USD100 million loan to help the Government of Georgia contain the spread of the novel coronavirus disease (COVID-19) pandemic, mitigate the impact on businesses, and protect the livelihoods of the most vulnerable, including women and children.

(CPV) - The economic fallout of the COVID-19 pandemic could push up to 86 million more children into household poverty by the end of 2020, an increase of 15 per cent, according to a new analysis released on May 28th 2020 by Save the Children and UNICEF.

(CPV) - The Asian Development Bank (ADB) has approved a $300 million loan to help PT Geo Dipa Energi (GDE), an Indonesian state-owned company, expand its geothermal power generation capacity by 110 megawatts in Java, the country’s largest electricity grid and a challenging market for the development of renewable energy. ADB will also manage a $35 million loan from the Clean Technology Fund for th

The Malaysian Islamic Party’s Central Committee on Economic, Real Estate and Entrepreneur Development has predicted that the country’s GDP growth rate can reach 2.5-3 percent in 2020 despite the COVID-19 outbreak.

Senior officials from the Asia-Pacific Economic Cooperation (APEC) economies held a virtual meeting on May 28th to discuss economic cooperation and open markets to counter the COVID-19 outbreak.

(CPV) - The Asian Development Bank (ADB) has released a landmark study which maps supply chains for critical products in the global response to the novel coronavirus disease (COVID-19) pandemic, clearing the way for the identification and removal of blockages in their production and distribution.

(CPV) - A stock of tents and other medical supplies financed by the Asian Development Bank (ADB) and the United Nations Children’s Fund (UNICEF) have been delivered to health authorities in Kiribati, the first stop of a program aimed at helping the Pacific respond to a potential outbreak of the novel coronavirus disease (COVID-19) pandemic.

(CPV) - A new report by WHO, UNICEF, and the International Baby Food Action Network (IBFAN) reveals that despite efforts to stop the harmful promotion of breast-milk substitutes, countries are still falling short in protecting parents from misleading information.

The Indonesian government is preparing for the “new normal” scenario for some sectors such as tourism, trade and transportation in the context of the ongoing COVID-19, Coordinating Minister for Economic Affairs Airlangga Hartarto said on May 27th.

Deputy Prime Minister and Finance Minister of Singapore Heng Swee Keat on May 26th announced another 33 billion SGD (23.2 billion USD) supplementary budget, aimed primarily at helping workers and businesses to tide over the COVID-19 crisis and the bleak economic outlook ahead.

Low-cost carrier of the Republic of Korea (RoK) Jin Air Co. said it will resume flights on five international routes next month to cater to incoming passengers and meet cargo-carrying demand.

Cambodia’s GDP growth is projected to drop 0.3 percent due to the impact of the COVID-19 pandemic and economic slowdowns in China, the EU and the US, Moody’s Investors Service has said.