While many parts of the world are faltering on the edge of recession, the Association of Southeast Asian Nations (ASEAN) in the first half of 2022 has been on an economic rebound, according to Eurasia Review.
New York (VNA) - While many parts of theworld are faltering on the edge of recession, the Association of SoutheastAsian Nations (ASEAN) in the first half of 2022 has been on an economicrebound, according to Eurasia Review.
In its article, the journal cited the forecast bythe World Bank (WB) as showing that GDP in Vietnam, the Philippines, andMalaysia will grow in excess of 6%, while growth rates of Indonesia and Cambodia areexpected around 5%. Singapore, Thailand, Laos, and Myanmar are all expected togrow around the 3% mark.
Most of this grow has been underwritten by thestrong expansion of exports and a resurgence of local demand and investment. Thereis massive urban development occurring across the region, with tourism veryquickly rebounding after travel restrictions have been lifted. The streets arenow vibrant with crowded markets and restaurants due to a new consumerconfidence.
The major economic shift within ASEAN is the growinglevel of intra-ASEAN trade and investment. This is where the ASEAN grouping maybe partly protected from any world economic downturn.
In the short-term ASEAN has a buffer against anyupcoming international recession. Most economic analysts still believe ASEANwill remain relatively buoyant over the next year.
However, some of the ASEAN countries are facing anumber of potential problems. Although exports have been rapidly growing inIndonesia, Malaysia, and Vietnam, the international economic slowdown coulddampen demand later in the year and 2023.
Weakening currencies, increasing public and privatedebt, rising energy costs, and a massive expansion of the money supply over thelast two years has fuelled a bout of inflation.
ASEAN’s economic resurgence has created some chroniclabour shortages in Singapore, Malaysia, and even Thailand. This could hamperpotential construction and manufacturing growth, if these issues are notresolved.
The challenges ahead for ASEAN will be keeping debtand inflation in control, dealing with lower export and foreign investmentgrowth, dealing with eroding currency exchange rate rates, and another bout offoreign currency speculation, if the world goes into a deep recession./.
The International Monetary Fund (IMF) has raised Malaysia’s economic growth forecast for the year from 5.1% to 5.4% in its latest World Economic Outlook report.
In its “ASEAN+3 Regional Economic Outlook in 2022” report updated by the ASEAN+3 Macroeconomic Research Office (AMRO) in October 2022, Vietnam’s economy was forecast to grow 7 percent in 2022, ranking it 2nd in the region after Malaysia.
Cambodia continued to receive substantial Foreign Direct Investment (FDI) in the construction sector in 2021, despite the economic slowdown in the wake of the COVID-19.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A garment factory in Vietnam (Photo: VNA) 
