ASEAN and the world

The cooperation between Japan and Vietnam is spotlighted in Japan’s new defense white paper 2024 released on July 12.

Indonesia’s government will include power wheeling in its renewable energy bill, which will allow private companies to sell electricity directly to consumer through transmission owned by state-run electricity company PLN.

Thailand’s National Health Security Office (NHSO) has approved an increase in funding for dependents from 6,000 THB (162 USD) to 10,442 THB per person per year.

Malayan Banking Bhd (Maybank) plans to double its assets in Vietnam to 2 billion USD by 2027, becoming the leading foreign bank in terms of syndicated loans to capitalise on a booming economy, according to foreign media.

(CPV) - The Asian Development Bank (ADB) has approved a $200 million loan to promote inclusive, low-carbon, and environmentally sustainable development in Ningbo City, Zhejiang province in the People's Republic of China (PRC).

(CPV) - Bond yields in emerging East Asia increased amid strengthened expectations that interest rates will remain elevated for a longer period, according to a new report by the Asian Development Bank (ADB).

The Thailand Creative Content Agency (THACCA) will host the country's first soft power expo next week to showcase the economic potential of Thai soft power in driving Thailand to become a leading nation in the creative economy.

(CPV) - The Asian Development Bank (ADB) signed a $50 million commitment to Actis Asia Climate Transition Fund, an infrastructure fund managed by Actis, a global sustainable infrastructure investor, to help accelerate the clean energy transition and address development challenges arising from climate change impacts in Asia and the Pacific.

(CPV) - The Government of Canada and the Asian Development Bank (ADB) announced a partnership to create a new Can$360 million trust fund (about $255 million).

(CPV) - The Asian Development Bank (ADB) and Lien Viet Post Joint Stock Commercial Bank (LPBank) signed a financing package of up to $80 million to expand access to finance for a women-owned small and medium-sized enterprises (WSMEs) project in Viet Nam.

(CPV) - On June 12th 2024, Asian Development Bank (ADB) President Masatsugu Asakawa joined Cambodia’s Deputy Prime Minister and Minister of Economy and Finance Aun Pornmoniroth to inaugurate ADB’s new resident mission, following the recent launch of ADB’s latest country partnership strategy for Cambodia for the period 2024–2028.

(CPV) - The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the Government of Pakistan drive sustainable investments in infrastructure and services through public–private partnerships (PPPs).

Thailand, the world’s biggest durian exporter with a total export turnover of 7 billion USD, became Vietnam's second largest importer of this fruit in the first four months of 2024.

Member countries of the Association of Southeast Asian Nations (ASEAN) have pledged to comply with international and regional agreements and initiatives on biosafety and biosecurity.

The Malaysia Autoshow 2024 has concluded with original equipment manufacturer (OEM) reporting a total of 1.4 billion RM (about 294.4 million USD) potential sales, 2,620 bookings of vehicles, and 13,799 sales leads - marking a significant milestone for the automotive industry.

(CPV) - The Asian Development Bank (ADB) committed $2.6 billion in sovereign lending to India in 2023 for projects that aim to strengthen urban development, support industrial corridor development, promote power sector reforms, build India’s climate resilience, support horticulture, and enhance connectivity.

(CPV) - The Asian Development Bank (ADB) has launched a new country partnership strategy for Cambodia, spanning the period 2024–2028. The new strategy, closely aligned with the first phase of the national Pentagonal Strategy for the same period, aims to strengthen pathways for a sustainable, inclusive, and resilient economy in Cambodia.

Senator Francis Escudero was elected as the new President of the Philippine Senate on May 20, replacing Senator Juan Miguel Zubiri who has just announced his resignation.

A team of scientists from the National University of Singapore (NUS)’s Institute for Health Innovation and Technology has unveiled a novel approach to stimulate muscle cells’ natural defence against cancer using magnetic pulses.

(CPV) - The Asian Development Bank (ADB) and Rupshi Seed Crushing Limited, a member of the City Group, have signed a $10 million loan to construct a greenfield energy-efficient, multi-oilseed crushing plant within the City Economic Zone in the Narayanganj District, Bangladesh.

Lao authorities on May 16 announced that a Buddha statue with a height of at least two metres has been excavated from a sandy area near the Mekong River in the northern Lao province of Bokeo.

(CPV) - On May 14th 2024, the Asian Development Bank (ADB) priced a 2-year global benchmark United States (US) dollar bond worth $3.5 billion, proceeds of which will be part of ADB’s ordinary capital resources.

(CPV) - Africa Day, observed on May 25 yearly around the world is a momentous occasion to commemorate the founding of the Organization of African Unity (OAU), which was created on 25 May 1963 as the precursor of the African Union (AU).

(CPV) - The Republic of Korea signed a memorandum of understanding (MOU) at the early of May with the Asian Development Bank (ADB) earmarking $2 billion in cofinancing for ADB sovereign operations over the next 3 years. The cofinancing will support climate change-related projects as well as transport, energy, agriculture, education, governance reform, health, and information and communication technology (ICT) projects.

The 30th ASEAN-China Senior Officials’ Consultation took place in Jakarta on May 10, with the sides reaffirming commitments to enhancing their comprehensive strategic partnership (CSP).

Italy will host the Asian Development Bank’s (ADB) 58th Annual Meeting on 4 to 7 May 2025. The meetings will be held in Milan, marking Italy’s first time to host and the first ADB Annual Meeting in Europe in almost a decade.

Banks in the Association of Southeast Asian Nations (ASEAN) are grappling with uncertainty over their loan books as evidence of persistent inflation that leads central banks to refrain from slashing interest rates, increasing pressure in the financing business.

The Japanese and Philippine defence ministers agreed on May 3 to work toward the early conclusion of a Reciprocal Access Agreement (RAA) to boost security cooperation and facilitate joint drills.

(CPV) - Developing Asia and the Pacific is unprepared to secure the well-being of its rapidly aging population as the growing share of older people in the region faces challenges from low pension coverage to health problems, social isolation, and limited access to essential services.

(CPV) - On April 25th 2024, the Asian Development Bank (ADB) published its Annual Evaluation Review for 2023, which emphasized that sound project design, backed by adequate analysis and robust due diligence, is critical to the success of ADB’s sovereign, nonsovereign, and technical assistance operations.