by Teuvo Tuomi | Mar 20, 2023 | Philippines, Business, Economy, News
The external debt of the Philippines rose by 4.5% and hit a record high of $111.27 billion last year, as both the national government and the private sector borrowed more from offshore creditors, according to the Bangko Sentral ng Pilipinas. BSP Governor Felipe...
by Teuvo Tuomi | Mar 16, 2023 | ASEAN, Asia, Economy, Environment, Japan, Southeast Asia
Japan plans to apply for ASEAN comprehensive strategic partnership (CSP) status, to commemorate the 50th anniversary of Japan and ASEAN Relations. Japan had already submitted a concept paper to the ASEAN Secretariat about its upcoming plan regarding the application...
by Teuvo Tuomi | Mar 11, 2023 | ASEAN, Business, Economy, Southeast Asia
With the exception of Thailand, the five largest economies in Southeast Asia (ASEAN-5) will show lower growth this year. The main reasons for this are tight financial conditions and weak external demand, according to Atradius. Growth of private consumption and...
by Teuvo Tuomi | Mar 5, 2023 | ASEAN, Business, Economy, Southeast Asia, Technology
According to the Asian Development Bank (ADB) and the International Monetary Fund (IMF), the Southeast Asian (SEA) economy is forecasted to grow by 4.7% in 2023, much faster than the global average of 2.7%. Some reports even suggest that ASEAN is on track to become...
by Teuvo Tuomi | Feb 28, 2023 | Economy, ASEAN, Business, Lifestyle, Southeast Asia, Vietnam
Vietnam’s rice exports are expected to benefit from high global demand, reaching 7 million tons this year, according to the Cong Thuong (Industry & Trade) newspaper. Improved quality is boosting importing countries’ demand for Vietnamese rice. Demand in...
