ASEAN and the world

Malaysia's palm oil stocks fell to their lowest in six months at the end of January as production plunged to the lowest level in nine months amid steady exports, the industry regulator has said.

Phitsanulok province, northern Thailand, attracted over 4 million tourists in 2023, becoming a new tourist attraction in the country.

The Lao Ministry of Information, Culture and Tourism hopes 6.2 million domestic and foreign tourists will make trips to the country in 2024, much higher than the initial target of 4.6 million set in late 2023.

(CPV) - The Asian Development Bank (ADB) has approved a $419.6 million loan for the Citywide Inclusive Sanitation Project to help Indonesia expand access to climate-resilient, adequate, and safely managed sanitation services in the cities of Mataram, Pontianak, and Semarang.

(CPV) - The Asian Development Bank (ADB) committed a record amount of climate finance in 2023 to help its developing member countries (DMCs) in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet.

(CPV) - The Asian Development Bank (ADB) and SAEL Industries Limited, through its subsidiary SAEL Solar P4 Private Limited, have signed a loan of up to 12.23 billion Indian rupees (about $147 million equivalent) for the development of a 400-megawatt (MW) greenfield solar power plant in Gujarat, India, to support the country’s ongoing transition toward clean energy and low-carbon growth.

Malaysia’s economy grew at a slower-than-estimated pace in the fourth quarter of 2023, as exports to China fell, signaling that a firmer recovery is taking longer than expected.

A court in Thailand on January 19 ordered the government to come up with an urgent plan to curb air pollution within 90 days, as the country braces for its annual peak of noxious haze.

Laos held a state-level meeting on January 19 to celebrate the 75th founding anniversary of the Lao People’s Army (LPA).

Thailand has discovered nearly 15 million tonnes of lithium deposits, a boost for the country's goal of becoming a regional hub for electric vehicle (EV) production, its Government announced on January 19.

(CPV) - The Asian Development Bank (ADB) and British International Investment (BII), the United Kingdom government’s development finance institution and impact investor, have launched a new trade finance partnership to promote green trade in Asia and the Pacific. Managed by ADB’s Trade and Supply Chain Finance Program (TSCFP), the initiative will prioritize renewable energy, energy efficiency, and climate-smart agriculture to help reduce dependency on fossil fuels.

The 2024 growth forecast for the ASEAN Plus Three (APT) region has been kept at 4.5%, said the Singaporean-based ASEAN+3 Macroeconomic Research Office (AMRO) in its January quarterly update.

Cambodia reported 1,384 malaria cases in 2023, down about 66% from the previous year.

(CPV) - The Asian Development Bank (ADB) has supported Indonesia’s first social bond and sukuk issuance.

Travel magazine Travel and Leisure Asia has named both Vietnam and Thailand as popular gems in Southeast Asia due to their vibrant cultures, diverse landscapes, and thrilling adventures.

(CPV) - The Asian Development Bank (ADB) priced a 3-year global benchmark United States (US) dollar bond worth $3 billion and a 10-year global benchmark US dollar bond worth $2 billion, proceeds of which will be part of ADB’s ordinary capital resources used to promote social and economic development across Asia and the Pacific on January 4th 2024.

Indonesia’s Meteorology, Climatology, and Geophysics Agency (BMKG) on December 31 detected a 6.4-magnitude earthquake shaking the Sarmi area, northern Papua province, in early morning.

(CPV) - The Asian Development Bank (ADB) has approved a $240 million loan to improve 700 kilometers of rural roads in Uzbekistan, making them safer and more climate-resilient to enhance connectivity and promote rural development.

With a strong foundation, Indonesia will generate optimism and demonstrate an ability to recover from many current global challenges, said participants at a December 22 seminar on the country’s 2024 economic prospects.

(CPV) - The Asian Development Bank (ADB) today joined the Government of Vanuatu and members of the Malekula community in commissioning the Brenwe hydropower plant and transmission and distribution line extension in Malekula which will deliver sustainable, affordable power to residents and businesses.

Malaysia maintained its trade surplus in November, valued at 12.41 billion MYR (2.68 billion USD), making it the 43rd consecutive month of trade surplus.

(CPV) - The Asian Development Bank (ADB) signed a $10 million grant with the Government of the Lao People’s Democratic Republic (Lao PDR) to strengthen responses to food security challenges facing the country.

Japanese Prime Minister Kishida Fumio has pledged to cooperation with the Association of Southeast Asian Nations (ASEAN) to promote economic growth of both sides through boosting investment and people-to-people exchanges.

Over the past 50 years, the relationship between the Association of Southeast Asian Nations (ASEAN) and Japan has grown comprehensively and deeply across all fields, from politics, security, economy and investment to culture, society, and development cooperation.

(CPV) - The Asian Development Bank (ADB) has appointed Takeo Konishi as Director General of its South Asia Department (SARD), where he will be responsible for the development and implementation of the department’s strategy in the region. He assumed office on 11 December.

The Indonesian Ministry of Health is planning to administer the fifth dose of COVID-19 vaccine for the elderly and those with underlying diseases, given the uptick in the new cases in the country.

(CPV) - The Asian Development Bank (ADB) has approved a $650 million investment loan to upgrade and enhance primary health care facilities and public health laboratories nationwide to improve prevention, detection, and treatment of communicable diseases, noncommunicable diseases, and other health conditions.

(CPV) - The Asian Development Bank (ADB) has raised its economic forecast for developing economies in Asia and the Pacific, after robust domestic demand drove higher-than-expected growth in the People’s Republic of China (PRC) and India.

(CPV) - The Asian Development Bank (ADB) has approved financing of up to $2.1 billion for the construction of a 32.15 kilometer (km) climate-resilient bridge connecting Bataan and Cavite provinces across Manila Bay to decongest Metro Manila, enable greater mobility of labor and goods, and enhance economic productivity in the country’s largest region of Luzon.

(CPV) - The Asian Development Bank (ADB) has appointed Muhammad Ehsan Khan as Director General of its East Asia Department (EARD), where he will be responsible for the department’s vision and strategy in the region. He assumed office last week.