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Latest ASEAN news

MedTech in ASEAN: The New Frontier

The UK Government, through the UK Foreign, Commonwealth & Development Office and in collaboration with ASEAN, has launched an online toolkit to encourage cross-ASEAN trade and investment to strengthen regional supply chains for medical technologies. The toolkit showcases the attractiveness of the ASEAN MedTech sector, complemented by interactive tools for MSME use.

 

ASEAN is among the world’s fastest-growing markets for MedTech, with a projected compound annual growth rate of 9.2% - faster than the global average of 6.8%. There are multiple advantages that make the ASEAN region ideal for MedTech investment: an attractive labour market, availability of raw materials, evolving infrastructural support, integrated supply chain and a growing and dynamic market have made ASEAN the top destination for both ASEAN & international investors, as evidenced by strong growth in foreign direct investments.

 

This toolkit:

  • Consolidates top of mind questions for MedTech MSMEs & global firms to explore pan-ASEAN investment
  • Serves as a knowledge base to understand incentives & regulations across MedTech opportunities
  • Discovery platform for MSMEs on supplier database and/or navigate suppliers in the region
  • Showcases case studies how global MedTech companies have leveraged strengths of each ASEAN country to set up a regional value chain.

Visit www.aseanmedtech.com to find out more.

Launched: ASEAN Intellectual Property (IP) Register

ASEAN and WIPO launched the ASEAN Intellectual Property (IP) Register at the 55th ASEAN Economic Ministers' Meeting. The Register, powered by a state-of-the-art information exchange system and maintained by WIPO, is a one-stop IP information portal that incorporates up-to-date IP data on patents, trademarks and designs from all ten ASEAN Member States (AMS). It enables all stakeholders from policy-makers to private sectors and innovators to conduct IP searches seamlessly for the ASEAN region.

Access the ASEAN IP Register here.

Source: ASEAN Secretariat

ASEAN Tariff Finder has been launched

ASEAN Tariff Finder is an online platform designed to support traders to maximise benefits from ASEAN’s free trade agreements. This is a tool to help businesses, especially Micro, Small and Medium Sized Enterprises to get the latest information on the preferential tariffs applied by ASEAN Member States under various multilateral/bilateral free trade agreements. It also sets out the rules of origin criteria used to determine a product’s eligibility for preferential tariff treatment. With this search engine, traders will save time and resources in their transactions, since all tariff information they need is now readily available on the website. 

Access the ASEAN Tariff Finder HERE

Thailand eyes EU free trade deal by year end amid US tariff risk

Thailand aims to finalize a Free Trade Agreement (FTA) with the European Union (EU) by the end of this year to strengthen economic stability amid risks of U.S. tariffs.

Key Points:
  • Negotiations between Thailand and the EU resumed in 2023 after being suspended following the 2014 coup.
  • The EU is Thailand’s fourth-largest trading partner.
  • The FTA is expected to boost Thailand’s economic resilience and enhance global competitiveness.
  • Exports account for approximately 60% of Thailand’s GDP.
Additionally, Thai business groups have urged the prime minister to negotiate with the U.S. and consider lowering tariffs on U.S. imports to mitigate potential trade risks. Thailand’s push to finalize the FTA with the EU reflects its efforts to strengthen economic security and reduce dependence on uncertain U.S. trade policies.

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Transport Ministry to upgrade Ranong Port after 200% import-export surge

The Transport Ministry has planned to improve facilities and services in Ranong Port after witnessing a 200% surge in import-export volumes. This plan meets the government’s policy to promote the Southern Economic Corridor (SEC) and enhance Thai logistics to meet international standards, said Deputy Transport Minister Manaporn Charoensri.

Ranong Port which is under the Port Authority of Thailand (PAT)’s supervision, has been instructed to expand container yard areas and upgrade facilities for improved shipping services to handle an increase in shipments. This is another crucial step for Ranong Port to enhance its logistics services, making them more efficient and positioning the port for further growth.

According to PAT, Ranong Port has seen an increase in imports and exports since January 2024, particularly in animal feed maize imports and cement exports. “The growth of Ranong Port reflects the expansion of the economy and the logistics industry that is linked to neighbouring countries, especially Myanmar, which is a major market for Thai exports,” said PAT director Kriengkrai Chaisiriwongsuk. Ranong Port currently operates two piers: a multi-purpose pier capable of accommodating cargo ships with a weight of up to 500 gross tonnes, and a container pier designed to handle vessels weighing up to 12,000 deadweight tonnes.

“The facility has the potential to become a maritime commercial hub on the Andaman coast,” he added.

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Comprehensive Analysis: The Influence of Chinese Investment on Thailand

Research suggests Chinese investments in Thailand have grown significantly, reaching 159.39 billion baht (US$4.58 billion) in 2023, boosting economic growth. It seems likely that these investments create jobs and enhance trade, particularly in electronics and automotive sectors, but may increase property prices, affecting housing affordability.

The evidence leans toward positive environmental impacts due to Thailand’s strong ESG regulations, though specific projects may raise concerns. Chinese investments appear to strengthen Thailand-China political ties, with potential strategic implications, though some debate exists over influence.

By analyzing historical data, current patterns, and future projections, this study aims to provide a comprehensive overview of the bilateral economic relationship between China and Thailand. The report will explore the motivations behind Chinese investments, assess their effects on Thailand’s economic growth and competitiveness, and evaluate the challenges and opportunities arising from this partnership. Understanding these dynamics is crucial for policymakers, investors, and researchers seeking insights into the changing nature of Southeast Asian economies and China’s expanding global influence.

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Vietnam pledges continued contribution to ASEAN Community

Vietnam has always valued and contributed its utmost to ASEAN’s development over the past 30 years in pursuit of the bloc’s overarching goals, Party General Secretary To Lam said, adding that drawing from its own experiences, Vietnam will continue its contributions to the ASEAN Community’s development.
General Secretary Lam had a working session with ASEAN Secretary-General Kao Kim Hourn and the Committee of Permanent Representatives to ASEAN during the Vietnamese Party leader’s historic visit to the Secretariat of the Association of Southeast Asian Nations (ASEAN) on Monday in Jakarta, Indonesia.
Agreeing with the key directions outlined by Kao Kim Hourn, Mr. Lam emphasized that ASEAN must remain a united and cohesive bloc. Only through unity can ASEAN overcome challenges in today’s complex global landscape. He also stressed that bilateral cooperation among ASEAN member states must serve the broader development and combined strength of the bloc.
The ASEAN chief called Mr. Lam visit, the first by a general secretary of the Communist Party of Vietnam to the ASEAN Secretariat, a historic milestone. He said the visit underscores ASEAN’s importance in Vietnam’s foreign policy, particularly as 2025 marks the 30th anniversary of Vietnam’s accession to ASEAN and the 10th anniversary of the ASEAN Community.
Kao Kim Hourn praised Vietnam’s important contributions to ASEAN and the ASEAN Community and expressed hope that Vietnam will continue to play a leading role in the bloc.
Following the official welcome ceremony, General Secretary To Lam planted a commemorative tree in the Secretariat’s compound and presented a painting to be displayed in the ASEAN Secretariat’s traditional exhibition room. This artwork is Vietnam’s seventh contribution among a total of 142 pieces gifted by leaders of ASEAN member states and their partners.
Source : VOV
Photo : VOV News

Thailand plan would allow polluters to offset 15% of emissions

The country has a target to achieve net zero emissions by 2065. THAILAND is considering proposals to allow businesses to offset as much as 15 per cent of their greenhouse gas pollution with carbon credits in a planned emissions trading system.

The strategy is intended to help stimulate development of the nation’s voluntary carbon market, said Suraphon Buphakosum, vice-president and head of the sustainability service development at the Stock Exchange of Thailand, which is involved in the market’s development. “Thailand wants to support and promote the country’s voluntary carbon market, especially for forestry projects,” Buphakosum said on Tuesday (Mar 4). “While it’s still subject to government approval, the scheme will only allow credits from nature-based projects.”

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Ndpx launches tarus, Brunei’s first instant fund transfer across platforms

National Digital Payment Network (ndpx) today launched tarus, enabling Brunei’s first instant fund transfers across participating banks and e-wallets.

Five platforms have on boarded onto tarus: BEEP Solutions, BIBD At-Tamwil’s Olive, MyDST, TAIBVX, and Progresif’s Ding!.

Users of these applications who have linked their bank accounts, cards, or other forms of credit can now send and receive money across these platforms by entering phone numbers associated with their accounts.

In a press statement, ndpx said Baiduri, BIBD, and ThreeG Media’s Pocket are expected to join in the next phase.

Tarus is the product name of Brunei’s first instant digital payment hub, operating as a back-end infrastructure for instant transfers between participating banks and e-wallets.

Users access tarus through their respective banks and e-wallet providers. The tarus option will appear as an inter-platform transfer option within participating providers.

“Currently, most users in Brunei transfer money within the same bank or e-wallet. While interbank transfers are possible, they primarily rely on systems like the Real-Time Gross Settlement (RTGS) System, which is designed for large-value payments,” said ndpx in their announcement.


Source: Biz Brunei

Read the full article here

Brunei stock exchange prepares for launch as plans move forward

BANDAR SERI BEGAWAN – The feasibility study for the Brunei Stock Exchange has been completed, and the implementation phase is set to begin this month, the Second Minister of Finance and Economy announced Saturday.

The government will establish a securities exchange, clearing house, and central securities depository, marking a significant milestone in Brunei’s financial development, Dato Dr Hj Mohd Amin Liew Abdullah said during a meeting of the Legislative Council.

Preparations are already underway for the launch of the stock exchange, which includes refining the organisational structure, establishing Syariah governance and sukuk listings, and setting out procedures for companies to apply for licences to operate within the exchange.

In 2020, the government allocated $414 million to establish the stock exchange, with funds distributed over several years to support infrastructure, technology, and socio-economic studies related to its implementation.

The feasibility study focused on formulating a detailed plan for building the market ecosystem, regulatory reforms, Syariah governance, cost-benefit analysis, and revenue projections.

A market outreach plan was also devised to engage key stakeholders, including regulators, market participants, potential issuers, and investors; with the objective of ensuring broad participation and support for the exchange.

Source: The Scoop

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Brunei implements visa-free entry for Chinese citizens

BANDAR SERI BEGAWAN (Xinhua) – The Immigration and National Registration Department of Brunei Darussalam announced on Thursday that starting from March 8, Chinese nationals holding ordinary passports will enter the country visa-free. According to the department, citizens of the People’s Republic of China holding a valid ordinary passport with a minimum validity of six months may enter through any designated entry point and stay in Brunei without requiring a visa for a period not exceeding 14 days.

 

Brunei looked forward to welcoming an increase in Chinese tourist arrivals that will contribute to fostering mutual understanding and stronger people-to-people ties, according to a joint statement issued by the two countries in February 2025.

 

Source: Borneo Bulletin

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Brunei economy exceeds expectations with 4.2% growth in 2024

BANDAR SERI BEGAWAN – Brunei has recorded its fastest annual gross domestic product (GDP) growth in 25 years, outperforming expectations with an expansion of 4.2% in 2024 despite ending the year with a quarterly contraction.

Buoyed by robust growth in the downstream oil and gas sector, the Brunei economy delivered its best performance since 1999 when real GDP grew 4.3%.

This also marks the second consecutive year of positive growth, following a 1.4% increase in 2023.

The Brunei economy had suffered a two-year recession from 2021 amid the COVID-19 pandemic, before rebounding in 2023.

In the annual GDP 2024 report released earlier this week, the Department of Economic Planning and Statistics (DEPS) said the oil and gas sector and non-oil and gas sector climbed 5.5% and 3.1% year-on-year, respectively.

Source: The Scoop

Read the full article here

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