ASEAN Business News / June 4, 2026 ASEAN Quick News

The following is a compilation of financial news from ASEAN countries reported by CNA on June 4, 2026.

**Vietnam: Trade Deficit Hits Record High in May on Soaring Raw Material Prices**
(Taipei, June 4, CNA) Bloomberg reports that Vietnam's import value surged due to a global rise in raw material prices, pushing its May trade deficit to a record high, while exporters also face the risk of potential new US tariffs. According to the General Statistics Office of Vietnam, the trade deficit widened to $5.21 billion in May, far exceeding the survey estimate of $3.98 billion and April's revised figure of $3.99 billion. The statistics office noted that Vietnam's exports grew 18% in May, lower than the 19.7% forecast by economists, while imports rose 33.8% year-on-year, higher than expected.

**Laos: Laos and China Outline 4 Strategic Pillars to Boost Bilateral Trade, Targeting $20 Billion by 2030**
(Taipei, June 4, CNA) Laos and China recently reached an agreement to enhance bilateral trade and investment. The two countries jointly formulated four strategic pillars, aiming to push bilateral trade volume to $20 billion (approximately NT$649 billion) by 2030. The two nations pledged to accelerate the review and upgrade of the 1998 Laos-China Trade Agreement. Future cooperation will focus comprehensively on expanding market access, promoting e-commerce, enhancing trade facilitation, and optimizing payment settlement mechanisms.

**Singapore: Singapore-US Interest Rate Differential Hits Record High; Analysts Say Trend May Continue**
(Taipei, June 4, CNA) Bloomberg reports that the interest rate swap differential between Singapore and the United States has widened to its highest level ever. Analysts suggest this trend may continue as funds continue to flow into Singapore, local liquidity remains ample, and US inflation pressures push up dollar borrowing costs. This week, the spread between the two-year Singapore dollar interest rate swap and the US rate for the same tenor reached a discount of 246 basis points, the largest recorded since 2020.

**Philippines: SiGMA Asia Summit Kicks Off in Manila, Attracts Over 20,000 Participants**
(Taipei, June 4, CNA) The SiGMA Asia Summit, an iGaming and technology event, kicked off in Manila, attracting over 20,000 delegates, including operators, decision-makers, exhibitors, and experts. Data shows that from April 2025 to March 2026, the cumulative revenue of the Asian iGaming market reached $45.5 billion, with over 155 million active players across 28 markets.

**Myanmar: Min Aung Hlaing Visits India to Discuss Expanding Bilateral Trade**
(Taipei, June 4, CNA) Myanmar's President Min Aung Hlaing visited India, meeting with Indian Prime Minister Narendra Modi and President Droupadi Murmu to discuss expanding bilateral trade. According to the Global New Light of Myanmar, during talks with Modi, Min Aung Hlaing noted that current bilateral trade stands at just over $2 billion. Both sides agreed to work towards a target of $3 billion in the first phase and further aim for $5 billion in the second phase.

**Malaysia: Anwar Emphasizes Affordable Energy Amid Push for AI Development**
(Taipei, June 4, CNA) Malaysian Prime Minister Anwar Ibrahim recently stated that while the country seeks AI investment and expands its digital economy, it must not sacrifice the interests of ordinary consumers. Despite the significant increase in electricity demand due to AI development, he stressed that ensuring energy security, sustainability, and affordability is more critical. Anwar noted that the benefits of the energy transition must be shared by industry, workers, and the public, especially vulnerable groups. He also revealed that ASEAN leaders have agreed to accelerate the ASEAN Power Grid to strengthen future electricity demand and energy security through regional energy integration.

**Thailand: US Giant Invests 8.1 Billion Baht to Build Plastics Recycling Base**
(Taipei, June 4, CNA) Thailand's Board of Investment (BOI) approved an investment of over 8.1 billion baht by US-based PureCycle to build a polypropylene recycled plastic pellet base. The facility will consume 65,600 tons of recycled plastic from Thailand annually, with an expected annual production capacity of approximately 59,000 tons. This investment will use US dissolution recycling technology, employing special solvents to remove color, odor, and impurities from waste plastic, producing pellets close to virgin quality. It is expected that half of the products will be sold domestically in Thailand, with the remainder exported to markets such as Malaysia and Indonesia.

**Cambodia: Patriotic Product Craze Boosts Sales; Q1 Food and Daily Necessities Surge Over 1.2 Times**
(Taipei, June 4, CNA) Driven by a boycott of Thai goods amid tensions along the Cambodia-Thailand border, a 'support domestic products' craze has emerged in Cambodia. According to the latest report from the Ministry of Commerce, sales of Cambodian-made goods in the domestic market surged significantly in the first quarter of this year, increasing approximately 1.27 times compared to the same period last year. Snack foods performed particularly well, with sales of juice and healthy tofu drinks surging 127% year-on-year. Among condiments, fish sauce increased 126.7%, chicken essence grew 88.7%, satay sauce rose 78.6%, and MSG increased 65.4%. Daily necessities and food also showed strong growth, with toothpaste sales up 86.7%, essential oils and hand cream up 70%, and natural scrubs up 62.6%. Instant noodle sales increased 83.3%, animal and vegetable oils grew 38.2%, and milk rose 31.1%.

**Indonesia: US Imposes 10% Tariff on Indonesia Citing Forced Labor**
(Taipei, June 4, CNA) The Jakarta Globe reports that the United States has imposed an additional 10% tariff on Indonesia, citing the country's allowance of imported goods involving forced labor into the US. In March, the Trump 2.0 administration launched forced labor investigations into Indonesia and dozens of other countries. On June 2, Washington time, the US announced new tariffs of 10% or 12.5%. The higher 12.5% rate applies to countries that have not implemented and effectively enforced bans on importing goods made with forced labor. Although Indonesia has enacted relevant bans, it lacks effective enforcement, thus the lower 10% rate applies.