ASEAN Express News, April 28, 2026
Today's ASEAN Express News covers key economic developments across Southeast Asia. Highlights include Vietnam's strategic rise in the global tungsten supply due to China's export controls, Laos implementing fuel rationing and remote work amid rising oil prices, Singapore maintaining its appreciating exchange rate policy to combat imported inflation, strong export performance from the Philippines, rising palm oil prices in Myanmar, a projected 39% increase in Malaysia's billionaire population by 2031, and Thailand's central bank expected to keep interest rates steady.
📋 Article Processing Timeline
- 📰 Published: April 28, 2026 at 17:12
- 🔍 Collected: April 28, 2026 at 17:31 (19 min after Published)
- 🤖 AI Analyzed: April 28, 2026 at 18:46 (1h 15m after Collected)
ASEAN Financial and Economic Special Report (Total 300 articles)
Central News Agency
Grabbing the new southbound policy, keeping an eye on the economic pulse of ASEAN. The Central News Agency's "Southeast Asia Financial and Economic Information Network" selects multiple financial and economic headlines daily from countries such as Thailand, Vietnam, Indonesia, Malaysia, and the Philippines. Whether it's new government policies, industry trends, or investment opportunities, it allows you to grasp key information in real-time, gain market insights, and seize business opportunities.
Vietnam: Rare Earth Export Controls Trigger Supply Chain Changes, Vietnam Becomes Key Global Tungsten Supplier
(Central News Agency, Taipei, April 28) Affected by China's export controls, the price of "tungsten," a key metal for industry and artificial intelligence (AI), has soared nearly tenfold within one year, reaching US$3,289 per unit. This has significantly elevated Vietnam's economic and strategic position as the world's second-largest tungsten producer, with leading industry players expecting this year's profits to surge over 200 times, reaching 2.5 trillion dong (approximately US$95 million).
According to Nikkei Asia, facing a 40% reduction in China's export volume, analysis points out that if Vietnam can optimize the exploitation of high-grade ore bodies and establish a circular economy system, it will become the most competitive resource haven amidst the mineral transfer trend triggered by US-China strategic competition.
Laos: External Oil Price Fluctuations Lead to Regional Fuel Rationing and Remote Work Implementation
(Central News Agency, Taipei, April 28) Affected by the rising international oil prices due to the Middle East situation, the Laotian government recently expanded its energy-saving directives. In addition to implementing fuel rationing in some areas, the government also encourages public sector and non-productive enterprises to implement remote work.
Laos' move aims to reduce imported fuel consumption to alleviate pressure from foreign exchange outflow, ensuring that inflation, which just dropped to 7% in the first quarter of 2026, will not rebound retaliatorily in the second quarter.
Singapore: Monetary Authority Maintains Appreciation Slope to Combat Imported Inflation
(Central News Agency, Taipei, April 28) Facing the risk of imported inflation brought about by geopolitical factors, the Monetary Authority of Singapore decided in mid-April to maintain the gradual appreciation slope of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER). This means the Singapore dollar will continue to appreciate to a certain extent along its existing path.
Officials have adjusted the forecast range for full-year core inflation in 2026 to 1.5% to 2.5%. Analysts estimate that with the implementation of various subsidies in the 2026 fiscal budget, Singapore's domestic consumption power will be further released in the second half of the year, but imported inflation remains the top threat.
Philippines: Enterprises Enter Singapore Food Exhibition, Creating US$300 Million in Business Opportunities, Export Momentum Remains Strong
(Central News Agency, Taipei, April 28) The Philippine Department of Trade and Industry (DTI) stated that 12 food export companies generated approximately US$3 million in initial sales performance at the "2026 Food & Hotel Asia" exhibition and are negotiating potential deals worth about US$100 million with international distributors. The Philippine pavilion mainly featured coconut raw materials, specialty coffee, chocolates, and health foods, emphasizing the establishment of long-term international partnerships.
DTI pointed out that participating in this exhibition helps the Philippine food industry expand into global markets and consolidate its position as a supplier of high-quality food. Official data shows that as of February this year, Philippine exports increased by 8.3% year-on-year, reaching US$14.47 billion, setting a new high for the same period in many years.
Myanmar: Indonesia's Tax Hike and Production Cuts Hit, Myanmar Palm Oil Prices Rise
(Central News Agency, Taipei, April 28) As of the week ending April 30, the wholesale reference price of palm oil in the Yangon market rose to 7,285 Myanmar kyats per Myanmar viss, an increase of 300 Myanmar kyats from the previous week. Authorities pointed out that the main reasons include production cuts in major producing countries, a stronger Malaysian ringgit, and Indonesia's increase in palm oil export taxes, driving up international prices.
Myanmar officials stated that if businesses engage in price gouging or hoarding, they will be held accountable according to the law. Myanmar's annual palm oil demand is approximately 1 million tons, with local production accounting for only 400,000 tons, the rest being highly dependent on imports.
Malaysia: Study Indicates Malaysian Billionaire Population to Grow 39% by 2031
(Central News Agency, Taipei, April 28) According to "The Wealth Report" flagship report released by international property transaction and consulting services company Knight Frank, the number of billionaires in Malaysia is expected to grow by 39% by 2031. This is mainly due to Malaysia's strong economic growth, continuous appreciation of the local currency, and a vibrant capital market.
Malaysia's "The Star" reported today that the report also estimates that within the next five years, the number of ultra-high-net-worth individuals (with assets totaling over US$30 million) in Malaysia will grow by 20.1%, from 1,566 in 2026 to 1,881 in 2031. This growth rate is much higher than the 6.5% growth rate from 2021 to 2026.
Thailand: Central Bank Expected to Keep Interest Rates Unchanged, Market Forecasts No Movement for Full Year
(Central News Agency, Taipei, April 28) Several Thai research institutions predict that the Bank of Thailand will maintain interest rates unchanged at its monetary policy meeting on the 29th of this month, while adopting a wait-and-see attitude to assess the impact of geopolitical uncertainties such as the Middle East conflict. K-Research pointed out that the central bank's policy interest rate is expected to remain at 1% for the full year because of the high uncertainty in the current environment, and further interest rate cuts have limited effect on stimulating the economy, making fiscal policy play a more important role.
At the same time, Thailand's inflationary pressure is expected to rise in the second quarter, driven by increases in energy, logistics, and raw material costs. The Producer Price Index (PPI) rose to 6% in March, but the overall Consumer Price Index (CPI) still fell by 0.08%. Analysis indicates that the economy may slow down in the second quarter and rebound in the second half of the year, but the central bank will not raise interest rates in the short term; some institutions even expect that if oil prices fall, interest rates may be cut to 0.75% in the future to support weak demand.
Cambodia: Q1 Bilateral Trade with Japan Exceeds US$750 Million, Up 15% Year-on-Year
(Central News Agency, Taipei, April 28) Cambodia's bilateral trade with Japan in the first quarter exceeded US$750 million, an increase of nearly 15% compared to the same period in 2025. Japan remains Cambodia's fourth-largest trading partner, after China, the United States, and Vietnam.
The Phnom Penh Post reported today that according to statistics from the General Department of Customs and Excise (GDCE) of Cambodia, the total bilateral trade between Cambodia and Japan in the first quarter reached US$753.46 million, an increase of 14.8% compared to US$656.45 million in the same period last year. Of this, Cambodia's exports to Japan...
Central News Agency
Grabbing the new southbound policy, keeping an eye on the economic pulse of ASEAN. The Central News Agency's "Southeast Asia Financial and Economic Information Network" selects multiple financial and economic headlines daily from countries such as Thailand, Vietnam, Indonesia, Malaysia, and the Philippines. Whether it's new government policies, industry trends, or investment opportunities, it allows you to grasp key information in real-time, gain market insights, and seize business opportunities.
Vietnam: Rare Earth Export Controls Trigger Supply Chain Changes, Vietnam Becomes Key Global Tungsten Supplier
(Central News Agency, Taipei, April 28) Affected by China's export controls, the price of "tungsten," a key metal for industry and artificial intelligence (AI), has soared nearly tenfold within one year, reaching US$3,289 per unit. This has significantly elevated Vietnam's economic and strategic position as the world's second-largest tungsten producer, with leading industry players expecting this year's profits to surge over 200 times, reaching 2.5 trillion dong (approximately US$95 million).
According to Nikkei Asia, facing a 40% reduction in China's export volume, analysis points out that if Vietnam can optimize the exploitation of high-grade ore bodies and establish a circular economy system, it will become the most competitive resource haven amidst the mineral transfer trend triggered by US-China strategic competition.
Laos: External Oil Price Fluctuations Lead to Regional Fuel Rationing and Remote Work Implementation
(Central News Agency, Taipei, April 28) Affected by the rising international oil prices due to the Middle East situation, the Laotian government recently expanded its energy-saving directives. In addition to implementing fuel rationing in some areas, the government also encourages public sector and non-productive enterprises to implement remote work.
Laos' move aims to reduce imported fuel consumption to alleviate pressure from foreign exchange outflow, ensuring that inflation, which just dropped to 7% in the first quarter of 2026, will not rebound retaliatorily in the second quarter.
Singapore: Monetary Authority Maintains Appreciation Slope to Combat Imported Inflation
(Central News Agency, Taipei, April 28) Facing the risk of imported inflation brought about by geopolitical factors, the Monetary Authority of Singapore decided in mid-April to maintain the gradual appreciation slope of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER). This means the Singapore dollar will continue to appreciate to a certain extent along its existing path.
Officials have adjusted the forecast range for full-year core inflation in 2026 to 1.5% to 2.5%. Analysts estimate that with the implementation of various subsidies in the 2026 fiscal budget, Singapore's domestic consumption power will be further released in the second half of the year, but imported inflation remains the top threat.
Philippines: Enterprises Enter Singapore Food Exhibition, Creating US$300 Million in Business Opportunities, Export Momentum Remains Strong
(Central News Agency, Taipei, April 28) The Philippine Department of Trade and Industry (DTI) stated that 12 food export companies generated approximately US$3 million in initial sales performance at the "2026 Food & Hotel Asia" exhibition and are negotiating potential deals worth about US$100 million with international distributors. The Philippine pavilion mainly featured coconut raw materials, specialty coffee, chocolates, and health foods, emphasizing the establishment of long-term international partnerships.
DTI pointed out that participating in this exhibition helps the Philippine food industry expand into global markets and consolidate its position as a supplier of high-quality food. Official data shows that as of February this year, Philippine exports increased by 8.3% year-on-year, reaching US$14.47 billion, setting a new high for the same period in many years.
Myanmar: Indonesia's Tax Hike and Production Cuts Hit, Myanmar Palm Oil Prices Rise
(Central News Agency, Taipei, April 28) As of the week ending April 30, the wholesale reference price of palm oil in the Yangon market rose to 7,285 Myanmar kyats per Myanmar viss, an increase of 300 Myanmar kyats from the previous week. Authorities pointed out that the main reasons include production cuts in major producing countries, a stronger Malaysian ringgit, and Indonesia's increase in palm oil export taxes, driving up international prices.
Myanmar officials stated that if businesses engage in price gouging or hoarding, they will be held accountable according to the law. Myanmar's annual palm oil demand is approximately 1 million tons, with local production accounting for only 400,000 tons, the rest being highly dependent on imports.
Malaysia: Study Indicates Malaysian Billionaire Population to Grow 39% by 2031
(Central News Agency, Taipei, April 28) According to "The Wealth Report" flagship report released by international property transaction and consulting services company Knight Frank, the number of billionaires in Malaysia is expected to grow by 39% by 2031. This is mainly due to Malaysia's strong economic growth, continuous appreciation of the local currency, and a vibrant capital market.
Malaysia's "The Star" reported today that the report also estimates that within the next five years, the number of ultra-high-net-worth individuals (with assets totaling over US$30 million) in Malaysia will grow by 20.1%, from 1,566 in 2026 to 1,881 in 2031. This growth rate is much higher than the 6.5% growth rate from 2021 to 2026.
Thailand: Central Bank Expected to Keep Interest Rates Unchanged, Market Forecasts No Movement for Full Year
(Central News Agency, Taipei, April 28) Several Thai research institutions predict that the Bank of Thailand will maintain interest rates unchanged at its monetary policy meeting on the 29th of this month, while adopting a wait-and-see attitude to assess the impact of geopolitical uncertainties such as the Middle East conflict. K-Research pointed out that the central bank's policy interest rate is expected to remain at 1% for the full year because of the high uncertainty in the current environment, and further interest rate cuts have limited effect on stimulating the economy, making fiscal policy play a more important role.
At the same time, Thailand's inflationary pressure is expected to rise in the second quarter, driven by increases in energy, logistics, and raw material costs. The Producer Price Index (PPI) rose to 6% in March, but the overall Consumer Price Index (CPI) still fell by 0.08%. Analysis indicates that the economy may slow down in the second quarter and rebound in the second half of the year, but the central bank will not raise interest rates in the short term; some institutions even expect that if oil prices fall, interest rates may be cut to 0.75% in the future to support weak demand.
Cambodia: Q1 Bilateral Trade with Japan Exceeds US$750 Million, Up 15% Year-on-Year
(Central News Agency, Taipei, April 28) Cambodia's bilateral trade with Japan in the first quarter exceeded US$750 million, an increase of nearly 15% compared to the same period in 2025. Japan remains Cambodia's fourth-largest trading partner, after China, the United States, and Vietnam.
The Phnom Penh Post reported today that according to statistics from the General Department of Customs and Excise (GDCE) of Cambodia, the total bilateral trade between Cambodia and Japan in the first quarter reached US$753.46 million, an increase of 14.8% compared to US$656.45 million in the same period last year. Of this, Cambodia's exports to Japan...