Economy and commerce
Investment
King Power secures 39percent stake in Asia Aviation in Bt7.9-billion deal
Duty-Free Operator King Power Group has taken a 39-per-cent controlling stake in Asia Aviation, the operator of Thailand’s largest budget airline Thai AirAsia, from the carrier’s chief executive Tassapon Bijleveld and two of his family members in a deal worth more than Bt7.9 billion. If King ...
VN Central Bank’s $12 billion worth of US govt bonds not a surprise
Indonesia, Thailand and Malaysia, with forex reserves many times bigger than Vietnam’s, only invest 10 percent of reserves on US government bonds. Meanwhile, the proportion is 30 percent for Vietnam. Singapore invests $109 billion on similar items, while the Philippines has poured $41 billion into the ...
Productivity soars for Vietnam
Vietnamese workers have substantially improved their productivity levels in the last 15 years, according to ICAEW’s latest ‘Economic Insight: South East Asia’ event launched in Ha Noi on 10 June. According to the Institute of Chartered Accountants in England and Wales report, ‘pure productivity’ grew 2.3 ...
Binh Dinh gives 'ultimatum' to $22bil. Nhon Hoi refinery
Nguyen Ngoc Toan – Deputy Chief of the Management Board of Nhon Hoi Economic Zone – said local officials had met with Thailand’s PTT Group on the progress of the Nhon Hoi (Victory) petrochemical project. Binh Dinh officials and the investors discussed with representatives of the ...
Trade and investment between Thailand and CLMV tipped to rise
Thailand’s Ministry of Commerce sees further potential for trade and investment between Thailand and CLMV (Cambodia, Laos, Myanmar, Vietnam) countries. The remark came after it was revealed that trade between Thailand and CLMV from January was Bt353.31 billion, up 1.74 per cent on the same period ...
New Members Appointed to Burma’s Investment Commission
The Myanmar Investment Commission (MIC) was reshuffled on 7 June to include 11 new members, the President’s Office announced on 8 June. Kyaw Win, Minister of National Planning and Finance, was appointed chairman, and Than Myint, Minister of Commerce, was appointed vice chairman. Aung Naing Oo, former secretary ...
Foremost producer to make Thailand Asean export hub
Netherlands-based Royal FrieslandCampina, the producer of Foremost dairy products, plans to make Thailand its Asean export hub. The company expects income from Asia to be contributing half of its total revenue globally within five years, chief executive officer Roelof Joosten said on 7 June. He said Thailand ...
Why the Mekong River is Asia’s next big investment locale
Japan recently announced a three-year, $7 billion investment deal to improve the infrastructure of the lower Mekong River region. This deal is a move to offset China’s growing economic influence within the region. Furthermore, because of geopolitical reasons, it will be beneficial to Japanese investors ...
PM raises doubts on ASEAN economic community
Prime Minister Hun Sen questioned on 1 June the extent of the ASEAN Economic Community’s commitment towards forming an inclusive economic region as countries continue to compete with each other for agricultural exports and inflows of foreign direct investment. Cambodia, which was the last member to join ...
More Japanese investors heading to Laos
More and more Japanese companies are coming to invest in Laos given that the country is integrating with the region and the world and is improving its investment climate. As of May 2016, the number of Japanese companies in Laos had climbed to 132 which is ...
