ASEAN and the world

The Belgian Chamber of Representatives on October 5 evening (local time) passed a resolution in support of the Agent Orange (AO)/dioxin victims in Vietnam, with absolute approval votes.

(CPV) - The Asian Development Bank (ADB) approved capital management reforms on September 29th 2023 that unlock $100 billion in new funding capacity over the next decade to address the region’s overlapping, simultaneous crises. The expansion of available funds will be further leveraged through mobilizing private and domestic capital to move from the billions to trillions required to tackle the climate crisis.

Prime Minister of Cambodia Samdech Thipadei Hun Manet on September 29 requested leaders of provinces pay attention to supporting flood-hit people as widespread heavy rains have triggered floods in many localities on recent days.

The proportion of citizens aged 65 and above in Singapore has increased from 11.7% in 2013 to 19.1% this year, according to the country’s annual Population in Brief report released on September 29.

The ASEAN-Australia High-Level Dialogue on Climate Change and Energy Transition took place in Hanoi on September 29.

(CPV) - The Asian Development Bank (ADB) has appointed Bhargav Dasgupta as Vice-President (Market Solutions) for a period of 3 years. He will be responsible for management of the operations of ADB’s Private Sector Operations Department and Office of Markets Development and Public–Private Partnerships.

(CPV) - The Asian Development Bank (ADB) approved a $100 million policy-based concessional loan on September 22nd 2023 to strengthen the country’s fiscal management and to promote decentralization.

(CPV) - Governments and central banks in emerging East Asia need to stay vigilant to guard against potential financial risk associated with higher interest rates, according to a report by the Asian Development Bank (ADB).

Thailand has set a new target of earning 3 trillion THB (about 85 billion USD) from international visitors and turning the country into a sports and entertainment centre, according to Minister of Tourism and Sports Sudawan Wangsuphakijkosol.

Indonesian President Joko Widodo and Chinese Premier Li Qiang discussed ways to boost bilateral trade and investment ties at their meeting in Jakarta, Indonesia, on September 8, following the 43rd ASEAN Summit and Related Summits.

(CPV) - The global trade finance gap grew to a record $2.5 trillion in 2022 from $1.7 trillion two years earlier, as rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity of banks to deliver trade financing, according to the 2023 Trade Finance Gaps, Growth and Jobs Survey released today by the Asian Development Bank (ADB).

The Asian Development Bank (ADB) and Deutsche Bank have signed a risk participation agreement to enhance access to financing for small and medium-sized enterprises (SMEs) in Asia and the Pacific. The agreement was signed between ADB’s Trade and Supply Chain Finance Program (TSCFP) and Deutsche Bank AG through its Singapore branch.

Ambassador Vu Ho, head of SOM ASEAN Vietnam, attended the ASEAN Senior Officials’ Meeting in Jakarta, Indonesia on September 3 to review preparations for the 43rd ASEAN Summit and related meetings.

Tharman Shanmugaratnam will become the ninth President of Singapore after winning 70.4% of votes in the September 1 election.

Thailand's King Maha Vajiralongkorn has endorsed the cabinet of Prime Minister Srettha Thavisin, a royal gazette said on September 2.

(CPV) - The Asian Development Bank (ADB) has approved a $30 million loan to improve Bhutan’s technical and vocational education and training (TVET) system and enhance the skills and employability of its youth.

Indonesian Finance Minister Sri Mulyani Indrawati on August 25 suggested ASEAN countries bolster their ties, collaboration, and engagement to ensure sustainable growth amidst the escalating global geopolitical tension.

(CPV) - The Southeast Asian region could lose up to 30% of its gross domestic product by 2050 due to increases in global temperature and extreme weather events, but bolstering the region’s renewable energy manufacturing capacity would position Southeast Asian countries to create new jobs and meet growing energy demand while drastically reducing emissions, according to new research released on August 24th 2023 on the sidelines of the ASEAN Finance Ministers and Central Bank Governors Meeting by the Asian Development Bank (ADB), Bloomberg Philanthropies, ClimateWorks Foundation, and Sustainable Energy for All (SEforALL).

Cambodia and Indonesia reached an agreement for the latter to buy 125,000 tonnes of rice from the former at a recent meeting between Cambodian Minister of Commerce Pan Sorasak and Indonesian Deputy Minister of Foreign Affairs Pahala Nugraha Mansury in Phnom Penh.

Indonesia's high-speed rail service, the first of its kind in Southeast Asia, is set to begin commercial operations as early as October following repeated delays.

Thailand will reduce approval time and required documents to simplify its visa application procedures as an effort to attract more foreign visitors, said a government official on August 10.

(CPV) - The Asian Development Bank (ADB) has issued its third bond issue denominated in Mongolian togrog (MNT). The MNT13.7 billion (about $4 million) 3-year gender bond pays a fixed coupon of 11.25% semi-annually.

(CPV) - The Asian Development Bank (ADB), as a transaction advisor for the Government of Bangladesh’s Rampura Amulia Demra Expressway public–private partnership (PPP) project, has mobilized $261 million of private sector capital for a four-lane, 13.5 kilometer expressway that will ease traffic congestion and provide better connectivity between the capital Dhaka and other major cities.

Malaysian Prime Minister Anwar Ibrahim on July 27 announced a new plan to boost economic growth with a vision of guiding the country into the world’s top 30 economies over the next decade.

(CPV) - Tonga’s King Tupou VI, government officials, and the people of Niuatoputau community attended a commissioning ceremony on July 26th 2023 for a new mini-grid generation system and distribution network, funded under the ADB-supported Outer Island Renewable Energy Project.

(CPV) - The Asian Development Bank (ADB) and the Government of Niue officially opened the ADB office in Alofi on July 25th 2023.

(CPV) - The Asian Development Bank (ADB) has appointed Shantanu Chakraborty as its new Country Director for Viet Nam.

New corporate registrations are expected to reach 83,000-90,000 this year, boosted by the increase in foreign tourists and the Thai economic recovery, outstripping an earlier projection of 75,000-78,000, reported the Thai Commerce Ministry's Business Development Department.

A webinar on e-commerce opportunities in Singapore and countries in the region for Vietnamese goods was held on July 21 by the Vietnam Trade Office in Singapore, the Ministry of Industry and Trade’s Department of Asia-Africa Markets and the Vietnam E-Commerce and Digital Economy Agency (iDEA).

(CPV) - The Asian Development Bank (ADB) is maintaining its growth outlook for developing economies in Asia and the Pacific at 4.8% this year, as robust domestic demand continues to support the region’s recovery.