ASEAN and the world

Capital inflows to Indonesia stood at IDR192.5 trillion (USD13.82 billion) as of July 18th, indicating investors’ stronger confidence in the country’s economy, according to the Bank Indonesia (BI).

The US Department of State on (DoS) has expressed concern over reports that China is hampering other countries’ oil and gas activities in the East Sea, and said its acts threaten regional peace and security, the Agence France-Presse (AFP) reported.

Singapore’s Ministry of Trade and Industry (MTI) said the country's 2019 economic forecast could be cut again considering the weak performance in the second quarter and strong headwinds in the global economy.

(CPV) - Heavy rainfall, flooding and landslides across three countries in South Asia – Nepal, India, and Bangladesh – have killed at least 93 children, and put the lives of millions more at risk. UNICEF estimates that more than 12 million people, including about five million children, have been affected.

Vietnam has stressed the need for stronger investment in the youth to enhance their capacity and solidarity during the building of the ASEAN Community.

(CPV) - Developing Asia will maintain strong but moderating growth over 2019 and 2020, as supportive domestic demand counteracts an environment of global trade tensions, according to a new Asian Development Bank (ADB) report released on July 18th 2019.

The United Nations Human Rights Council (UNHRC) has adopted 26 resolutions, including a resolution on climate change and human rights co-authored by Vietnam, the Philippines and Bangladesh, during its 41st session in Geneva, Switzerland.

(CPV) - Philippine Finance Secretary Mr. Carlos Dominguez III and ADB Vice-President Mr. Ahmed M. Saeed on July 11th 2019 signed a USD1.3 billion loan, the first tranche of a total USD2.75 billion facility, for the Malolos–Clark Railway Project in a ceremony witnessed by Philippine President Mr. Rodrigo Duterte at the Malacañan Palace

Indonesia is planning to build a 7km-long bridge linking two islands near Singapore, the longest in the country, in a bid to develop industry and tourism in the area, announced the Indonesian government on July 11th.

(CPV) - ADB returned to the US dollar bond market with the pricing of a USD3.25 billion 3-year global benchmark bond issue, proceeds of which will be part of ADB’s ordinary capital resources.

Thailand’s tourism industry is seeking support with visitors from India as arrivals from China decline.

(CPV) - ADB and the Government of Pakistan held a series of country consultations on July 8th 2019 to formulate a new Country Partnership Strategy (CPS), which will guide ADB’s engagement in the country from 2020 to 2024.

The International Labour Organisation (ILO) has welcomed the signing of the EU-Vietnam free trade agreement (EVFTA) on June 30th in Hanoi, which promotes the respect for fundamental labour rights as a basic condition for fair international trade.

Measures for fisheries development of the Association of the Southeast Asian Nations (ASEAN) were discussed at a number of recent meetings, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development.

Thailand and Laos have inked an agreement to upgrade a road and extend a railway linking the two countries to foster cross-border economic cooperation.

Thailand's e-commerce market value is expected to surge to USD13 billion by 2025 from USD3 billion in 2018 on the back of strong global demand for Thai products.

(CPV) - ADB President Mr. Takehiko Nakao handed to Japan Prime Minister Mr. Shinzo Abe a report on an ADB project in Sri Lanka financed by the Women Entrepreneurs Finance Initiative (We-Fi) at the Leaders’ Special Event on Women’s Empowerment at the Osaka G20 Summit on June 29th 2019.

Thai Prime Minister Prayut Chan-o-cha has called on Cambodia, Laos, Myanmar, Vietnam and Thailand (CLMVT) to embrace innovation or else risk losing their competitive edge.

Thailand has set a target of becoming an electricity hub in the Association of Southeast Asian Nations (ASEAN).

(CPV) - ADB has approved a USD60 million loan to boost the skills and competitiveness of Cambodia’s growing labor force, as the Government of Cambodia seeks to transition its economy from a low-skilled, labor-intensive growth model to a skills-driven one.

More than 700 Japanese candidates on June 23rd registered for the third Vietnamese-language proficiency test held by the Japan College of Foreign Languages in Tokyo.

(CPV) - ADB has endorsed a new Country Partnership Strategy (CPS) for Uzbekistan. The 5-year partnership strategy, from 2019–2023, supports the government’s ongoing reforms to help the economy’s transition towards a more inclusive and market-driven growth path.

(CPV) - Myanmar State Counselor Ms. Aung San Suu Kyi met with ADB President Mr. Takehiko Nakao on June 23rd 2019 on the sidelines of the Association of Southeast Asian Nations (ASEAN) Leaders’ Summit. They discussed ADB’s continued engagement with Myanmar.

The Malaysian Anti-Corruption Commission (MACC) has launched legal action against 41 individuals and organisations to recover about USD65 million stolen from scandal-hit state fund 1MDB.

The 34th ASEAN Summit and related meetings officially began in Bangkok on June 20th with the meeting of the Committee of Permanent Representatives to ASEAN (CPR).

The Ministry of Information and Communications hosted a ceremony in Hanoi on June 18th to announce the ASEAN ICT Awards 2019 (AICTA).

(CPV) - The local currency bond markets in emerging East Asia continued to expand over the first quarter of 2019 despite trade conflicts and moderating global growth, according to ADB's latest issue of the Asia Bond Monitor. Housing bonds and green bonds are potential areas of future growth, the quarterly report said.

The Royal Thai Police (RTP) has confirmed its readiness to ensure safety and the facilitation of traffic flow during the 34th ASEAN Summit from June 20th-23rd.

(CPV) - Health financing in Papua New Guinea (PNG) can be improved through better transparency and accountability initiatives, including having better information systems for finance, human resources and payroll, health information, as well as drugs and medical supplies, says a new ADB report launched on June 14th 2019.

An ASEAN week to celebrate the 30th anniversary of establishing dialogue between ASEAN and the Republic of Korea (RoK) kicked off in Seoul on June 14th.