Author: Churai Ekaluck

Việt Nam has made important contributions to ASEAN Inter-Parliamentary Assembly (AIPA) and preparations for the AIPA-44 which is to take place in Indonesia, said Vietnamese Ambassador to Indonesia Tạ Văn Thông. Việt Nam has made important contributions to ASEAN Inter-Parliamentary Assembly (AIPA) and preparations for the AIPA-44 which is to take place in Indonesia, said Vietnamese Ambassador to Indonesia Tạ Văn Thông. The ambassador told Vietnam News Agency correspondents in Jakarta during an interview ahead of Vietnamese National Assembly Chairman Vương Đình Huệ’s official visit to Indonesia and attendance at the AIPA-44 in the Indonesian capital city from August 4-7. Thông said…

Vietnam considers Japan its top economic partner and appreciates its official development assistance, the biggest among those provided to the Southeast Asian nation by developed countries, Vietnamese Vice President Vo Thi Anh Xuan said Thursday. Xuan, in an exclusive interview with Kyodo News, attributed the remarkable development of Vietnam-Japan ties to the frequent visits of their leaders. This year marks the 50th anniversary of diplomatic relations between the two countries. “Vietnam has always considered Japan its top strategic partner, and in terms of bilateral economic cooperation, Vietnam also considers Japan its top economic partner,” she said. “Even during hard times,…

The year 2022 was quite positive for the insurance business in Vietnam with demand and awareness of the benefits of insurance increasing steadily. This, coupled with the revised Law on Insurance, created fertile ground for foreign firms looking to enter the market through a merger or acquisition (M&A). However, along with benefits come some challenges with respect to cultural differences and due diligence processes. In this light, foreign firms should be familiar with the regulatory framework and the market conditions they may face in Vietnam. Insurance market overview According to the Vietnam Association of Economic Sciences, the insurance industry was quite active…

The Myanmar regime has established a fraudulent entity to replace the banking details of its oil and gas venture in an attempt to access sanctioned funds outside the country originally paid by foreign partners, according to an internal document leaked to Myanmar Now. The letter, dated April 19, outlines a request by the regime’s energy ministry to the Central Bank of Myanmar (CBM) to create separate bank accounts in US dollars, Chinese yuan or renminbi, and Thai baht. It asks that the accounts be registered under the name “Kant Kaw”—a type of Burmese flower—at the state-owned Myanma Economic Bank (MEB) in the…

Cambodia and Thailand on Tuesday launched the second phase of cross-border QR code payments, which will allow Thai nationals to shop in Cambodia using the Thai currency baht. Chea Chanto, governor of the National Bank of Cambodia (NBC) and Sethaput Suthiwartnarueput, visiting governor of the Bank of Thailand, presided over the launching event in Phnom Penh, said a NBC’s press statement. The launch of cross-border QR code payments “aims to promote the usage of local currencies and financial inclusion, facilitate cross border trade activities, and boost tourism in both countries”, the statement said. “As the first phase of this project,…

A train model of China Railway Rolling Stock Corporation (CRRC) is pictured during Asia Pacific Rail 2023 in Bangkok, Thailand, on May 31, 2023. CRRC held a series of activities themed on “Discovering the world by train” during the exhibition, displaying diverse models of Chinese-made trains. (Xinhua/Rachen Sageamsak) Train models of China Railway Rolling Stock Corporation (CRRC) are pictured during Asia Pacific Rail 2023 in Bangkok, Thailand, on May 31, 2023. CRRC held a series of activities themed on “Discovering the world by train” during the exhibition, displaying diverse models of Chinese-made trains. (Xinhua/Rachen Sageamsak) Visitors view the train models…

Thailand’s manufacturing sector continued to expand in May due to higher demand, but at a slower rate, a survey showed on Thursday. The country’s manufacturing purchasing managers’ index (PMI) was recorded at 58.2 last month, down from the record high of 60.4 in April, indicating a strong expansion with the seventeenth straight month of growth, according to S&P Global. A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below reflects contraction. According to the survey, the expansion was attributed to improved demand conditions, while incoming new orders for manufactured goods rose at the second-fastest pace…

Thailand’s exports shrank further in April, marking the seventh straight month of decline, as global economic uncertainty weighed on trade, data showed on Tuesday. Exports, a main driver of the country’s economic growth, dropped 7.6 percent last month from a year earlier to 21.72 billion U.S. dollars, according to the data released by the Ministry of Commerce. The April export value recorded the lowest in three months and the fastest fall since the 14.6 percent plunge in December 2022. Exports to China, one of Thailand’s primary export markets, jumped 23 percent year-on-year last month after registering a 3.9 percent decline…

The increasing Chinese investment to Thailand, highlighted by electric vehicle (EV) industries, has brought relevant industrial chain and technologies, helping to boost Thailand’s economy and green development in recent years, said the head of the country’s East Economy Corridor(EEC). As the major vehicle production and export base in Southeast Asia, Thailand has attracted growing numbers of Chinese electric vehicle manufacturers over the years, echoing Thai government’s incentives on EV industry, Chula Sukmanop, secretary general of the EEC policy committee, said during an interview to Xinhua here in Bangkok. “Many Chinese companies have invested in Thailand. Some are coming to meet…

Thailand’s economy grew 2.7 percent in the first quarter of the year, thanks to a recovery in tourism and higher agricultural output, the country’s economic planning agency has said. This marked a sixth consecutive period of expansion, accelerating from 1.4 percent growth in the final quarter of 2022, according to the data released by the Office of the National Economic and Social Development Council (NESDC). The improvement was attributed to the constant expansion of the service sector, driven by the country’s growing foreign arrivals, and the agricultural sector due to higher yields, the NESDC said in a statement Monday. The…