ASEAN Region Weekly (2 Aug. 2019)

Lao PDR

Investment by domestic and foreign enterprises has not grown as planned despite the government’s augmented measures to boost private sector growth and sustain the economy. (Vientiane Times)

Thailand

The Bank of Thailand has cut the amount of short-term bonds it will sell via auction in August to help slow fund inflows amid a strong baht, while traders said yields continue to fall on expectations of an interest rate cut. (Bangkok Post) The Bank of Thailand knocked the baht from its perch, but the weakness could be short-lived, according to the currency’s top forecasters. (Bloomberg)

The economy is likely to expand at a slower pace than the Bank of Thailand’s 3.3% forecast for the year because of subdued exports and domestic consumption, adding to signs of a further projection rollback. (Bangkok Post)

The government has set an expenditure of Bt3.2 trillion for fiscal 2020 with a deficit of Bt469 billion, compared to Bt450 billion estimated by the previous administration. (Bangkok Post)

Viet Nam

Việt Nam’s foreign reserves hit a record high of US$68 billion at the end of June, revealed a report from the HCM City Banking University. According to the report, foreign investment capital inflows have helped the country build up its foreign reserves to double the figure of three years ago. (Viet Nam News)

Viet Nam is expected to become a “role model” for other countries in the ASEAN region when its free trade agreement with the EU takes effect early next year, a EuroCham official has said. (Viet Nam News)