Economy and commerce

A South Korean phone-based money transfer company has partnered with Wing Specialized Bank to tap into remittance services for Cambodians living and working abroad. GmoneyTrans signed a cooperative agreement yesterday with Wing and hopes to launch the remittance service by the middle of next month, according ...

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 ...

When comparing Vietnam’s commitments within the Vietnam-EU free trade agreement and the Trans Pacific Partnership Agreement, businesses see bigger benefits in EVFTA, especially in government procurement. Tran Quoc Khanh, Deputy Minister of Industry and Trade, said it was not the initial intention of Vietnam to apply ...

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 ...

The Ministry of Industry and Trade has refused Binh Son Refining and Petrochemical Co. (BSR)’s proposal to export Dung Quat oil refinery’s products, according to newswire Vneconomy. According to the MoIT, the government put a high priority on consuming Dung Quat’s products on the domestic market, ...

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 ...

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 ...

Bokeo provincial authorities are focusing on the inspection of petrol stations and petrol import companies after finding that different petrol operators are operating without licenses. Some 73 other petrol stations have been found operating with only 40 of those stations licensed. To manage petrol imports into the ...

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 ...

The International Monetary Fund called on policy makers in Thailand to cut interest rates in the face of a sluggish economy and low inflation, an approach that the central bank says isn’t necessary. Thailand needs expansionary fiscal and monetary policies to help spur an economy that’s ...