Southeast Asia News Update
Indonesia
The government is closely monitoring the mobile game application Koin Jagat, which offers monetary rewards for locating virtual coins using the app, amid concerns about potential vandalism of public facilities, officials said on Wednesday.
Bank Indonesia (BI) has cut its key interest rate by 25 basis points (bps) to 5.75 per cent, citing a more “measurable impact” from Donald Trump’s reelection as United States president and the need to bolster a sluggish domestic economy.
Thailand
Prime Minister Paetongtarn Shinawatra is scheduled to visit three southern border provinces on Thursday, shortly after two bomb attacks in Pattani and Narathiwat that claimed two lives and injured several others.
Thai Lion Air estimates the Chinese market will remain stagnant this year based on declining safety confidence in Thailand over the short term and a stagnant mainland economy throughout 2025, prompting the airline to pivot to India and domestic demand.
Laos
Laos and the Philippines mark 70 years of solidarity and friendship. Seven decades ago, the Philippines was the second country in Asia and the fourth in the world to establish bilateral relations with Laos and recognise its role in the international community.
The Narcotics Department cleared 15 hectares of poppy plantations in Luang Namtha province in northern Laos. Authorities placed wooden planks on the ground to prevent poppy cultivation and encouraged villagers to grow other cash crops instead.
Myanmar
The Ministry of Planning and Finance announced that 174 companies — comprising domestic, foreign and joint ventures — are operating in the microfinance sector. These institutions have distributed loans to over three million borrowers. Digital tools are used for loan disbursement and collection.
The Department of Consumer Affairs said over 10,000 online businesses selling goods and services have registered. Nearly 1,300 companies and over 9,000 individual business owners have applied for registration until January 2, 2025. Online businesses were officially designated as essential services.
Vietnam
Prime Minister Pham Minh Chinh instructed officials to stamp out price manipulation and speculations, and probe real estate investment and construction projects. The government is introducing strict measures to clean up the sector and stabilise the real estate market.
Vietnam’s banking sector is expected to perform better this year, forecast to grow from 14 per cent last year to 17 per cent in 2025. A strong gross domestic growth and the revival of the real estate sector will drive its growth.
Singapore
Over the last year, it has become harder for both job seekers and hirers here to find the right match, the latest reflection of how fast skill needs are changing in Singapore, according to LinkedIn.
Chinese airlines have been swooping in to grab a larger slice of the China-Europe air travel market as their continental counterparts bow out – a calculated strategy that’s not just about capitalising on opportunity, but also gaining an enduring foothold in the sector, say analysts.
Conclusion
Southeast Asia continues to be a region of significant economic and political importance, with various countries making headlines for their efforts to boost growth, improve infrastructure, and address social and environmental concerns. From Indonesia’s efforts to monitor a popular mobile game to Vietnam’s plans to clean up its real estate sector, there is no shortage of interesting developments in the region.
FAQs
Q: What is the current state of the economy in Indonesia?
A: The Indonesian economy is experiencing a slowdown, with the government taking steps to boost growth and stabilize the currency.
Q: What is the significance of the 70th anniversary of Laos-Philippines diplomatic ties?
A: The anniversary marks a significant milestone in the history of relations between the two countries, highlighting their long-standing friendship and cooperation.
Q: What is the outlook for the banking sector in Vietnam in 2025?
A: The sector is expected to perform better this year, driven by a strong gross domestic growth and the revival of the real estate sector.