ASEAN Economic Community Strategy Center

October 15, 2021

Stats Dept: Malaysia’s ICT industry valued at RM320b in 2020, contributed 22.6pc to GDP

KUALA LUMPUR, Oct 15 — The Information and Communications Technology (ICT) industry registered a 10.4 per cent growth in 2020, valued at RM320 billion, compared with 7.3 per cent in the previous year, said the Department of Statistics Malaysia (DoSM). Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the ICT industry had shown positive growth despite the country having to face bitter challenges […]

October 15, 2021

Bank Indonesia to hold rates until late 2022 awaiting economic resurgence

BENGALURU, Oct 15 (Reuters) – Indonesia’s central bank will hold interest rates steady next week to bolster the economy as activity stalled by the recent devastating COVID-19 wave gradually gathers pace, according to a Reuters poll of economists. Since the onset of the pandemic, Bank Indonesia (BI) has slashed its benchmark seven-day reverse repurchase rate (IDCBRR=ECI) by […]

October 15, 2021

New private home sales in Singapore fall 31% in September as developers hold back launches

SINGAPORE – New private home sales posted a double-digit drop for a second straight month as many developers held off on new launches following a sharp rise in Covid-19 community cases and tight visitor restrictions. The number of units moved fell 31 per cent to 834 units last month from 1,216 in August, while sales dropped 37 […]

October 15, 2021

IMF forecasts Vietnam’s GDP to see highest growth in ASEAN 5 group

The International Monetary Fund (IMF) has forecast Vietnam’s GDP to grow at around 3.8% this year, higher than that of its regional peers, Malaysia, Thailand, the Philippines, and Indonesia. The IMF said in its “World Economic Outlook” report released recently that Asia’s economic growth this year is predicted to stand at about 6.5%, with some […]

October 15, 2021

Cambodia: Small businesses facing massive setbacks from blocked shipments

AFP – Wayne Sosin of Worksman Cycles says he has tried everything since the pandemic began to find a way to make and deliver his bikes. He has been looking for a container to send a shipment to Saudi Arabia for the last six weeks to no avail so far. That’s not even to mention his […]

October 15, 2021

Philippines: BSP to develop registry for growing cash agents

MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) is planning to put up a registry to improve the monitoring nationwide of cash agents that have more than tripled since the start of the pandemic. BSP Governor Benjamin Diokno said in his weekly virtual press conference that the agent registry would be a tool for […]

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