ASEAN Economic Update: June 24, 2026

Vietnam is accelerating its high-speed rail development, aiming to train 35,000 railway professionals by 2030 to support modern infrastructure goals. This program includes specialized training for postgraduate, undergraduate, and technical vocational students.

Laos has secured a grant of approximately 74 million NTD from the Japanese government through the JDS scholarship program. This funding is intended to strengthen human resources and enhance the operational capacity of government officials.

In Singapore, the core inflation rate for May remained steady at 1.4%, lower than the 1.6% forecasted, as the impact of global energy price volatility remained contained.

In the Philippines, ANZ Research has downgraded its 2026 economic growth forecast from 4.7% to 3.9%, citing weak consumer and business confidence, high inflation, and elevated interest rates.

Myanmar’s Fruit, Flower and Vegetable Producer and Exporter Association (MFVP) is facilitating direct B2B supply chains to connect local farmers with food manufacturers, aiming to stabilize prices during harvest seasons.

Malaysia and other Southeast Asian nations are benefiting from a regional tech export boom driven by AI demand, with S&P Global Ratings noting significant capital expenditure in regional data centers.

Thailand’s average household income in 2025 saw a 2.5% year-on-year decline to 28,308 THB, the first such drop in six years, attributed largely to a 4.8% decrease in labor-related income.

Cambodia has launched a new land transport route through Laos to China, designed to reduce logistics costs for exporting agricultural products like bananas, mangoes, and durians.

Indonesia has officially refuted reports regarding the relocation of two auto parts manufacturers to Vietnam, stating that both companies remain fully operational within the country.