ASEAN Business News / June 3, 2026 ASEAN Quick News

CNA reported on June 3, 2026, a compilation of ASEAN economic news.

**Vietnam: Ho Chi Minh City attracts over US$3.8 billion in FDI in 5 months, up 20% YoY**
Ho Chi Minh City attracted over US$3.8 billion in foreign direct investment (FDI) in the first five months of 2026, a year-on-year increase of over 20%. According to data from the Ho Chi Minh City Department of Finance, capital increases, share purchases, and equity acquisitions were the main drivers of foreign capital inflows, amounting to US$2.33 billion. Of the total, 783 newly approved foreign-invested projects had a total registered capital of over US$1.09 billion, while 107 existing projects received additional investments totaling US$430.2 million.

**Laos: Vangvieng and Chongqing deepen cooperation leveraging the China-Laos Railway**
Vangvieng, a tourist hotspot in Vientiane Province, Laos, is seeking to strengthen cooperation with Chongqing, China, aiming to leverage the China-Laos Railway corridor to further expand ties in trade, investment, tourism, and logistics. According to a statement from the Lao National Chamber of Commerce and Industry's Chongqing office, the visit focuses on deepening practical cooperation, including establishing sister city relations, promoting trade and investment, developing tourism, advancing modern agriculture, and cross-border logistics.

**Singapore: F&B stocks under dual pressure, budget brands show resilience**
Singapore's food and beverage (F&B) industry has been impacted by fierce market competition and rising costs, with most stock prices performing weakly since the start of 2026, with declines of up to 28%. Phillip Securities pointed out that the influx of foreign brands is impacting the performance of local businesses, coupled with food costs that have been rising over the past decade, now accounting for 30% to 40% of total expenditure. According to Lianhe Zaobao, the F&B sector suffers from low liquidity and valuation due to low market attention, but some analysts believe that Kimly Group, which focuses on budget dining, still has operational resilience and may drive growth through acquisitions in the future.

**Philippines: AMRO cuts growth forecast, inflation could spike**
The ASEAN+3 Macroeconomic Research Office (AMRO), in its latest Regional Economic Outlook update, downgraded the Philippines' 2026 economic growth forecast to 4.1%, down from the previous estimate of 5.3%, and also lowered the 2027 forecast to 5.5%. AMRO noted that inflationary pressures in the Philippines will rise significantly, with average inflation expected to reach 6% this year, well above the previous estimate of 3.9% and significantly exceeding the government's target range of 2% to 4%. AMRO stated that the Philippines is one of the Southeast Asian economies most affected by rising energy prices and may see further suppression of domestic demand and supply chains due to the Middle East conflict driving up energy and transportation costs. The office also warned that if the conflict continues and pushes up oil prices, regional economic growth could slow significantly, and inflationary pressures would expand further.

**Myanmar: Solar energy seminar to be held in July**
Myanmar's Department of Power Transmission and System Control (DPTSC) will hold a seminar on solar power generation in the first week of July. According to the Myanmar New Light of Myanmar, the seminar will invite experts and relevant stakeholders, as the government seeks to significantly increase the share of solar power in the national electricity mix.

**Malaysia: Ringgit weakens against USD; market focuses on US economic data and Middle East risks**
The Malaysian ringgit weakened slightly against the US dollar today, mainly due to better-than-expected US economic data and uncertainty in the Middle East boosting the dollar. Traders noted that US manufacturing and job openings data indicated the economy remains resilient, leading to market expectations that the Fed will not rush to cut interest rates, supporting the dollar index. However, the ringgit generally strengthened against major and regional currencies, rising against the British pound, euro, and Japanese yen, and also against the Singapore dollar and Thai baht. Analysts expect the ringgit to trade in a range in the short term as the market maintains a cautious stance.

**Thailand: Central bank governor says no rate hike needed for now**
Bloomberg reported that Bank of Thailand Governor Vitai Ratanakorn stated that despite accelerating inflation and some central banks turning hawkish in response to rising energy prices, the current policy rate remains "appropriate." Thailand's headline inflation rate rose 2.89% year-on-year in April, allowing policymakers to remain patient as the inflation data remains within the central bank's target range of 1% to 3%. Governor Vitai told reporters at an event on Tuesday, "Our policy rate is currently maintained at an appropriate level because the headline inflation rate is still within our target range."

**Cambodia: E-invoice system expands to 14 ministries, strengthening financial transparency**
Cambodia's Ministry of Economy and Finance announced the implementation of Step 4 of Phase 1 of the Cambodia E-Invoice System, mandating its application to transactions between businesses or suppliers and 14 ministries and institutions. According to the Khmer Times, the measure aims to enhance the efficiency, transparency, and accountability of public procurement and payment processes.

**Indonesia: State-owned enterprises to control palm oil and coal exports; new rules spark market panic**
Indonesia's president recently signed a "Government Regulation on the Governance of Natural Resource Commodity Exports," stipulating that strategic natural resources can only be exported through state-owned enterprises. The first batch of regulated items includes crude palm oil, coal, and ferroalloys, with state-owned enterprises officially taking over procurement from next year. The announcement of the new regulations sparked panic both domestically and internationally, causing palm oil prices to plummet. The Indonesian Palm Oil Association expressed concerns about losing customization flexibility and impacting small and medium-sized traders. International rating agencies pointed out that such practices would suppress Indonesia's overall export performance, affecting government revenue stability and investor confidence in Indonesia's economic policies.