ASEAN – ECONOMY: ASEAN Economic Scoreboard as of 5 January

Gavroche has selected some economic news from Southeast Asia for you last week. An essential news overview for anyone interested in the region’s economy.

Cambodia exports about 640,000 tons of rice in 2022
According to a report by the Cambodia Rice Federation (CRF), for 2022, Cambodia exported approximately 637,000 tons of husked rice to international markets, earning USD 414.29 million.

Jiangsu General Tire Technology aims to start tire production in Cambodia in May
Chinese tire manufacturer Jiangsu General Science Technology plans to open a new factory in the Sihanoukville Special Economic Zone in Cambodia in the first half of this year. The plant is expected to start production in May with a production capacity of 5 million and a half steel radial tires and 900,000 full steel radial tires.

VNG opens new data center in Ho Chi Minh City
In mid-December 2022, VNG opened a new data center with international standards called VNG Data Center in Ho Chi Minh City. This center has 410 server racks with an initial capacity of 1,600. It is one of three data centers that have received Tier III certification from the Uptime Institute, the most prestigious system d evaluation of data centers in Vietnam. the world.

Vietnam’s GDP growth will reach 8% in 2022
Vietnam’s GDP grew by 5.9% in 2022 and 8% in 2022. The service sector continued to play an important role in accelerating growth, contributing 3.4 percentage points to GDP growth. GDP in the 4th quarter. Growth in the industrial sector slowed sharply year-on-year (4Q annual growth was 3.6%, down from 11.1% previously) as manufacturing production slowed amid slowing global demand.

Indonesia: 5.51% inflation in 2022
The development in December 2022 shows controlled consumer price index (CPI) inflation. According to data published by BPS-Statistics Indonesia, CPI inflation in December 2022 was 0.66%, so headline inflation reached 5.51% in 2022, compared to 1.87% in 2021.

Indonesia plans to launch a cryptocurrency exchange in 2023
Indonesia plans to establish a cryptocurrency exchange this year before transferring regulatory powers over these assets to the Financial Services Authority (FSA). Crypto assets in Indonesia are currently traded alongside commodity contracts under the supervision of the Commodity Futures Regulatory Agency, known as Bappebti. As part of a wider financial sector reform, the FSA will take over regulatory powers over assets over the next two years, and is expected to be in place on the exchange by then, Bappebti acting chief Didid Noordiatmoko said on Wednesday.

Burma allocates 170 billion kyat to small and medium enterprises
Maung Maung Win, the military junta’s deputy minister of planning and finance, said his government has allocated 170 billion kyat from its supplementary budget for fiscal year 2022 to establish a development fund for SMEs (micro, small and medium enterprises). -23. The junta has already approved this fund and it will be used for the development of this business in the country, providing profitable short and long-term loans at low interest rates.

Burma, closure of several bank branches.
Yangon Stock Exchange-listed Myanmar Citizens Bank (MCB) officially announced the closure of several bank branches on December 28. Branches in Sagaing area were closed. Banking Circle reports that Myanmar customers have lost confidence in banks after the Military Council restricted money transfers and cash withdrawals in the country.

Laos government’s 4.5% growth forecast for 2023 approved by national assembly
The agriculture sector, which accounts for 17.2% of the gross domestic product (GDP), is expected to grow by 2.5% and industry by 5% to account for 34.2% of GDP. The services sector is expected to increase by 4.7% to 37.5% of GDP, and customs duties and taxes to increase by 4.3% to 11.1% of GDP. GDP value is expected to increase to 234,160 trillion kips by the end of the year, with GDP per capita at US$1,625 and Gross National Income (GNI) per capita at US$1,534.

Perodua reaches a record high of 282,019 vehicles in 2022
Perodua achieved its best ever performance, with sales up 48.2% to 282,019 units in 2022 from 190,291 units in 2021. The Malaysian automaker reported a 49.5% year-over-year increase in production to 289,054 units and a 236% increase in aftermarket sales. million pieces.

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