ASEAN Economic Brief: May 28, 2026

Central News. Vietnam: Vietnam enters the top 10 global steel producers for the first time. According to the World Steel Association, Vietnam's crude steel production reached 2.1 million tons in April, a 4% year-on-year increase, surpassing Italy. Laos: Inflation slowed to 9% in May from 10.2% in April. Singapore: Nominal wage growth for full-time residents slowed in 2025. Philippines: Experts deny stagflation, predicting a recovery in growth momentum. Myanmar: Government to push 40 power and energy projects to meet 9-13% annual demand growth. Malaysia: Data center and AI investment boom expected to boost fiscal revenue. Thailand: Rice prices rose 7.2% in a week to $478 per ton. Cambodia: Announced a 10-year, $32 billion green investment plan to reduce greenhouse gas emissions. Indonesia: ASEAN+3 economic growth expected to slow to 4% due to geopolitical risks.