Author: Kantsom Sutabuhr

Skepticism about economic statistics released by Vietnam’s central and local governments is spreading, as gross domestic product and tourism figures show marked improvement despite poor business sentiment. The country’s structural steel industry has been hit hard by plummeting demand from lack of investment and an economic slowdown. Production facilities have seen operating rates fall to about 30%, and steelmakers are in the red. In the capital Hanoi, new buildings that have been abandoned mid-construction are becoming a more common eyesore. “Business sentiment is worse than during the global financial crisis,” a source at a Japanese trading house said. However, the…

Amid the complicated developments in the world economy and domestic headwinds, Vietnam’s GDP growth in the first six months of this year reached only 3.72%, which was below expectations. However, many of experts held this was a suitable growth rate in the current situation. They showed their optimism about the country’s economic recovery in the time to come. An International Monetary Fund expert commented Vietnam’s economic growth is projected to recover in the second half of this year, reaching around 4.7% for the year, supported by a rebound in exports and expansionary domestic policies. Singapore’s DBS Bank Limited noted in the first…

Vietnam and Malaysia play an important and indispensable role in Asean, including in the fields of economy, diplomacy and security, said Collins Chong Yew Keat, a foreign affairs and strategy analyst and author in University of Malaya. Collins, during an interview with Vietnam News Agency (VNA) here emphasised the increasing momentum in the Vietnam-Malaysia relationship across all sectors, including diplomacy, economy, and national defence and security since the establishment of their bilateral strategic partnership in 2015. Given the current developments in the region and the world, he underscored the importance of Prime Minister Datuk Seri Anwar Ibrahim’s visit to Vietnam…

China and Thailand recently wrapped up joint air combat exercises held in Thailand featuring advanced aircraft from both sides, with experts saying on Sunday that the drills boosted the combat and joint operational capabilities of both countries’ aviation forces with the sharing of experiences valuable to each other. The Falcon Strike-2023 joint exercise between Chinese and Thai air forces concluded with a ceremony on Thursday, China Central Television (CCTV) reported on Saturday. During the joint drills that lasted for 21 days in Thailand, participating troops from both countries carried out training subjects including air support, land assault, joint air defense…

Thailand’s Prime Minister Prayut Chan-o-cha will not seek re-election and will retire from politics, his party said Tuesday. The announcement came two days before Thailand’s parliament was set to vote for a new prime minister following a May election that saw Thais overwhelmingly reject military-backed rule. Prayut, 69, has ruled Thailand since 2014, when as army chief, he seized power in a coup and declared himself prime minister. In 2019, his party’s coalition won the most seats in parliament and he was elected leader with the backing of the senate. Thai opposition parties swept the board in May’s nationwide election as voters delivered a powerful…

Fighting between the Myanmar army and anti-junta rebels has flared up in recent days, with local people in one village saying on Saturday that 14 people were killed in a single raid. Deadly violence has engulfed Myanmar since the military deposed Aung San Suu Kyi’s civilian government in February 2021 and unleashed a bloody crackdown on dissent that has left thousands dead. The junta has been battling anti-coup “people’s defence force” (PDF) militias and long-established ethnic rebel armies that control large areas of territory near the country’s borders. A senior military source, speaking on condition of anonymity, told AFP that fighting had…

The Institute for Economics and Peace has raised Vietnam’s peace ranking four places on this year’s Global Peace Index. The institute, based in Sydney, Australia, announced the 2023 index late last month, which ranked 163 countries and territories based on three criteria: the level of societal safety and security, the extent of ongoing domestic and international conflict, and the degree of militarization. Vietnam’s ranking on the global peace index rose from rank 44th to rank 41st. Compared to other countries in Southeast Asia, Vietnam’s ranking is lower than Singapore’s (6th) and Malaysia’s (19th), but higher than Laos’s (46th), Timor-Leste (49th),…

A delegation of the Communist Party of Vietnam (CPV), led by Politburo member and Chairman of the CPV Central Committee’s Commission for Internal Affairs Phan Dinh Trac paid a working visit to Greece from July 2 to July 6. During the trip, the delegation met with and had working sessions with Vice President of the New Democracy Party and Minister of Labour Adonis Georgiadis; General Secretary of the Communist Party of Greece Dmitris Koutsoumpas; and Secretary General of Justice & Human Rights Panos Alexandris, among others. Trac, who is also Secretary of the CPV Central Committee, Standing Vice Chairman of the Central Steering Committee for…

The Thailand Board of Investment (BOI) has held talks with two of China’s top automakers in its latest efforts to promote the country as a regional hub for EVs. Mr Narit Therdsteerasukdi, Secretary General of the BOI led the talks with Changan Automobile and Chery Automobile during an investment roadshow that was focused on EV and clean energy sectors. Following the discussions, Mr Narit said: “Our latest talks with these two major Chinese EV manufacturers confirmed Thailand’s potential to be a production and export base for right-hand drive EVs because of the readiness of our automotive ecosystem and the fact…

Thailand’s auto exports surged in April due to last year’s low comparative base and improved semiconductor supplies, data showed on Wednesday. The country’s finished car exports jumped 43.53 percent year on year in April to 79,940 units, according to the Federation of Thai Industries (FTI). The April finished car export value soared 49.83 percent from a year earlier, totaling 50.16 billion baht (about 1.45 billion U.S. dollars), due to higher shipments to Asia, Australia, and Middle East markets, according to Surapong Paisitpattanapong, the FTI’s automotive industry club vice president and spokesperson. Auto manufacturers produced 117,636 vehicles in the country last…