Thai Deputy Prime Minister Somkid Urges CLMVT Master Plan

Cambodia, Laos, Myanmar, Vietnam and Thailand, the new drivers for Asean and Asian economic growth, should come up with a joint master plan for connectivity and key infrastructure development to strengthen the region’s competitiveness, says Deputy Prime Minister Somkid Jatusripitak.
“Given a combined population of 230 million people and average economic growth of 6-8%, the five countries are …

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These Are The Fastest Growing Economies In East Asia In 2017

The Philippines is just one growth engine for the region stretching from Japan to Singapore, and infrastructure booms are just one source of booming economies. Here are the countries that the World Bank projects will grow fastest in East Asia and the Pacific this year:
1. Laos. This impoverished country with a strict Communist government will grow 7% this year because of investment in the …

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PM Thongloun: ASEAN To Become World’s No. 4 Economy By 2030

A new economic order will emerge by 2030, with Southeast Asia taking on a central role, Laotian Prime Minister Thongloun Sisoulith told business leaders in his nation’s capital on Monday.
“Studies have shown that the ASEAN economy is expected to grow at 7% per annum, with a GDP reaching $4.7 trillion in 2020, and the possibility of becoming the fourth-largest economy in the world by 2030,” Thongloun said in his …..

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ASEAN Split On How to Deal With China In South China Sea Row

Southeast Asia’s main grouping opened a meeting of their foreign ministers Sunday, deeply divided on how to deal with China’s territorial expansion in the South China Sea that has impacted some of its members and whipped up an increasing diplomatic quagmire.
Laos is hosting the gathering of the 10-nation Association of Southeast Asian Nations, which traditionally ends with a joint statement. But the sticking point is whether to include a reference to the ….

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Obama Plans To Visit Laos, A First For A US President

President Barack Obama plans to visit Laos next year to attend a regional economic summit, making him the first US president to visit that country, an advisor said Wednesday.
Obama will make history when he attends an ASEAN conference in the poor but economically growing country, which was massively bombed by the United States during the …..

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AEC Effects Unlikely To Be Seen For Years

It could take up to a decade for substantial changes to be seen after the Asean Economic Community (AEC) goes into full effect at the end of this year, a Bangkok seminar heard yesterday.
The dream of a single market with free flows of trade, labour and investment will take up to 10 years to be realised, and it will take three or four years before the effects of lowered trade barriers will truly be seen, experts said.
Some tariffs have already been lowered but in many cases …..

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Move Over Thailand, the Philippines is Southeast Asia’s Strong Man

With a greater focus on manufacturing, a young population and a president committed to stable growth, the Philippines is pulling ahead
The Philippines is no longer the `sick man of Asia’, Economic Planning Secretary Arsenio Balisacan declared yesterday after the economy grew a better-than-estimated 6.9 percent last quarter from a year earlier. That capped three successive years of above-6-percent growth, placing it well ahead of Thailand, once a growth engine of ….

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Asean Open Skies On Track

Three aviation tragedies involving carriers from Asean within a space of nine months will not stop the implementation of the Asean open skies policy that will kick off from January 1.
The policy, however, is expected to pay more attention to having higher standards of safety and other regulatory approvals to operate flights, among others, when it is fully implemented by the end of 2015.
Although the road to full open skies is not completely clear of ….

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