ASEAN Finance and Economics / April 7, 2026 ASEAN News Brief

Vietnam: Promoting Digital Transformation of Cultural Industries; Target 9% Contribution to GDP by 2045 (Taipei, April 7, CNA) Vietnamese Deputy Prime Minister Nguyen Chi Dung approved the 'Digital Transformation of Cultural Industries by 2030 and Vision to 2045' on April 4, promoting the modernization of the national digital cultural ecosystem and developing digital culture as a key driver for industrial growth and resource sharing. According to the plan, by 2030, Vietnam will fully establish a shared digital platform for the cultural sector and complete the standardization of digitized cultural assets, with 80% of public cultural assets having digital identifiers for ownership confirmation and management. Additionally, at least 80% of intangible cultural assets in ethnic minority areas will be digitized and integrated into professional databases, serving as an important foundation for future cultural preservation and industrial development. (Taipei, April 7, CNA) Senior officials from Laos, Vietnam, and Thailand held a meeting in Pakse on April 3 to discuss revitalizing the approximately 1450-kilometer 'East-West Economic Corridor.' The East-West Economic Corridor, launched in 1998, spans Myanmar, Thailand, Laos, and Vietnam, extending from Mawlamyine Port to Da Nang, aiming to promote regional trade and reduce poverty. However, the project has progressed slowly for years, constrained by insufficient road infrastructure and cumbersome border clearance issues. (Taipei, April 7, CNA) Lunar New Year boosted consumption, with Singapore's retail sales rebounding in February after a decline in January; however, due to ongoing Middle East conflicts, this optimism may not last. The Straits Times reported that according to data released yesterday by the Singapore Department of Statistics (DOS), retail sales increased by 8.3% year-on-year in February, while January's revised data showed a slight decline of 0.5%. (Taipei, April 7, CNA) Reports of a potential 45-day ceasefire between the US and Iran 'injected a strong boost' into the Philippine foreign exchange market, with the peso strengthening for the second consecutive trading day. Business Mirror reported that according to data from the Bankers Association of the Philippines (BAP), the Philippine peso closed yesterday at 60.05 pesos per US dollar, an increase of 11 cents from the previous trading day's 60.16 pesos on Wednesday, April 1. (Taipei, April 7, CNA) Myanmar Customs Department announced that during the traditional New Year festival 'Thingyan' (Water Festival) from April 11 to 15, customs clearance for import and export goods at international seaports and airports will operate normally. The Myanmar New Light of Myanmar reported that for urgently needed imported goods, if an application is submitted in advance, the customs department will also assist with clearance procedures to facilitate import and export operations. (Taipei, April 7, CNA) According to a study, Malaysia's power transmission industry is expected to continue growing, driven by grid expansion, renewable energy integration, and increased power demand from data centers. Research firm Kenanga Research assessed Cheeding Company's outlook as 'positive,' expecting strong demand for transmission and distribution equipment in the medium to long term, mainly benefiting from Malaysia's large-scale solar projects and the replacement of coal-fired generators. (Taipei, April 7, CNA) Thailand's Ministry of Commerce stated that the consumer price index (CPI) in March decreased by 0.08% year-on-year, lower than the 0.20% forecast by economists surveyed by Reuters. The Bangkok Post reported that the CPI has declined for 12 consecutive months, and the Ministry of Commerce expects a significant increase in CPI in Q2 2026. (Taipei, April 7, CNA) From October 15 last year to March 15 this year, Cambodian Customs seized and handled 8879 cases of violations nationwide, with an estimated total value exceeding 300 million US dollars. Common crimes include illegal transactions, smuggling of prohibited goods, and false declarations to customs. Notably, smuggling methods are becoming increasingly diversified, with transactions conducted through e-commerce platforms, social media, postal services, and express delivery, leading to a growing number of counterfeit and inferior quality goods. Indonesia: Middle East Situation Pushes Up Oil Prices; Indonesia Temporarily Increases Aviation Fuel Surcharge and Cuts Taxes (Taipei, April 7, CNA) Affected by rising oil prices due to the Middle East conflict, the Indonesian government announced a significant increase in the jet fuel surcharge from 10% to 38%. To mitigate the impact, the government allocates 1.3 trillion Indonesian rupiah (approximately 76 million US dollars) monthly for subsidies and exempts economy class from 11% VAT and parts import taxes, aiming to control domestic ticket price increases to between 9% and 13%. Nikkei Asia reported that despite West Texas Intermediate (WTI) crude soaring to 110 US dollars per barrel, authorities remain committed to keeping the 2026 fiscal deficit within the legal threshold of 2.9%. For more information, please contact Team Leader Chang Li-chuan at (02) 2505-1180#792, EMAIL: [email protected]