ASEAN nations, including Vietnam, are emerging as a destination of choice for many US and Japanese manufacturers who are looking to shift their production bases away from China following the US-China trade war and the COVID-19 pandemic.
The issuance of corporate bonds in Indonesia will likely decline this year as many companies shelve plans to seek funding because of unfavorable global economic conditions, analysts have said.
Thailand’s consumer confidence slumped to a 21-year low in April as the public remained worried about the poor economy, unemployment and future income because of the COVID-19 pandemic.
The ASEAN Centre of Military Medicine (ACMM) held a teleconference in Hanoi on May 7 to discuss a joint drill on COVID-19 prevention and control mechanisms.
Indonesia’s central bank has obtained permission to purchase about 42,000 billion rupiah (166.33 billion USD) worth of government bonds in the primary market in 2020, said Finance Minister Sri Mulyani Indrawati.
The number of unemployed people reached 520,000 in Malaysia after seven weeks of the enforcement of the Movement Control Order (MCO) to cope with the ravaging COVID-19 pandemic, forcing the government to restart the economy.
The Philippines’ GDP shrunk 0.2 percent in the first three months of 2020, recording the first contraction since the fourth quarter of 1998, announced the Philippine Statistics Authority (PSA) on May 7.
Singapore’s Ministry of Health has confirmed 788 new COVID-19 infections in the country as of May 6, taking the total count to 20,198, the highest in Southeast Asia.
Minister of Industry and Trade Tran Tuan Anh, on behalf of ASEAN Economic Ministers, held a phone discussion with Secretary-General of ASEAN Lim Jock Hoi on May 6 regarding plans for recovering the regional economy and maintaining intra-bloc supply chains after the COVID-19 pandemic has been brought under control.
The Cambodian Ministry of Tourism is working to transform its southern province of Kep into a tourism hub that meets regional and international standards.
Indonesia plans to offer 886 trillion rupiah (57.16 billion USD) worth of government bonds in the last three quarters of this year after collecting 221.4 trillion rupiah from auctions in the first quarter.
Malaysia's central bank cut its key interest rate by 50 basis points to 2 percent on May 5, its lowest since 2009, to help the country’s economy weather the impact of the COVID-19 pandemic.
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