ASEAN Briefing May 13, 2026

ASEAN Financial Special Report (300 articles in total)

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Vietnam: Vietnam and Laos Sign Tourism Cooperation Plan to Deepen Strategic Collaboration

(Central News Agency, Taipei, May 13) Vietnam and Laos signed the 2026-2030 Cultural Tourism Cooperation Program, summarizing previous achievements and outlining a blueprint for the next five years. Both sides agreed to strengthen experience exchange in heritage protection and deepen strategic cohesion between the two countries through increased mutual visits of delegations, cultural weeks, and music performances.

The Vietnam News Agency reported that the two countries will jointly promote talent development through scholarships and cooperation with educational institutions to enhance mutual visits and understanding among their people. This cooperation aims to promote the cultural image of both sides, not only implementing the strategic agreements of the two leaders but also laying a solid foundation for deeper collaboration in the 2027 "Vietnam-Laos Friendship and Solidarity Year."

Laos: Agricultural Giant Enters Laos, Building a 5,000-Hectare Coffee Base

(Central News Agency, Taipei, May 13) Vietnamese agricultural giant Hoang Anh Gia Lai Group (HAGL) is expanding its regional agricultural investment landscape, investing US$50 million to launch a 5,000-hectare high-quality coffee planting and processing project in Champasak Province, Laos.

According to the agreement, Hoang Anh Gia Lai Group will establish large-scale coffee plantations and processing facilities on the Bolaven Plateau, known for its fertile soil and climate favorable for growing premium coffee.

Singapore: Economic Strategy Review Calls for Building 'Career Bridges' to Counter AI Impact

(Central News Agency, Taipei, May 13) Singapore's Economic Strategies Committee today released its "Economic Strategy Review," pointing out that artificial intelligence and automation are making career transitions frequent and important. The government should adopt a proactive and integrated approach to assist high-risk workers in transitioning careers through building career bridges, and provide support at an earlier stage for re-employment.

The report recommends increasing the quality and wages of industries less affected by AI, such as early childhood education and social services. The government plans to develop structured apprenticeship models that integrate training, certification, and promotion, aiming to gradually reduce dependence on low-cost labor, and the workforce development system must adapt to enable workers to quickly acquire necessary skills for resilient occupations.

Philippines: Rising Cost Pressures Cause Jollibee's Q1 Profit to Drop Nearly 40%

(Central News Agency, Taipei, May 13) Jollibee Foods Corporation's net profit in the first quarter decreased by 38.8% year-on-year to 1.47 billion Philippine Pesos, mainly due to rising raw material and supply chain costs eroding profits; operating income also decreased by 18.2% year-on-year.

The Manila Times reported that, however, driven by domestic and international demand, Jollibee's Q1 revenue still increased by 9% year-on-year to 76.55 billion Philippine Pesos, with global system sales growing by 10.3%. The company stated that it would moderately increase prices starting from Q2 to cope with cost pressures.

Myanmar: Seminar Promotes AI Adoption for Digital Transformation in Businesses

(Central News Agency, Taipei, May 13) The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) held a seminar on "AI-Driven Digital Transformation for Enterprises" on the 11th, focusing on how banks, insurance companies, and various types of enterprises (including SMEs and large enterprises) should adopt and utilize artificial intelligence (AI) technology.

The "Global New Light of Myanmar" reported that the UMFCCI Vice Chairman and Chairman of the Technology and Innovation Development Committee, among others, delivered keynote speeches. Officials, UMFCCI members and its affiliated associations, invited guests, and business owners attended the seminar in person, while other participants joined online.

Malaysia: Abundant Supply and Weak Demand Push Palm Oil to One-Month Low

(Central News Agency, Taipei, May 13) Bloomberg reported that due to abundant supply and weak demand, especially from major buyer India, Malaysian palm oil prices have fallen to their lowest level since mid-April.

Gnanasekar Thiagarajan, Head of Trading and Hedging Strategies at Kaleesuwari Intercontinental, pointed out that the market is refocusing on fundamentals. He stated that demand in the Middle East is sluggish due to conflict, and India is in a seasonal transition period with less consumption of fried foods.

Thailand: Middle East Conflict Increases Economic Risks, Benchmark Interest Rate Remains Unchanged at 1.00%

(Central News Agency, Taipei, May 13) The Bank of Thailand today released its April meeting minutes, stating that Thailand's economy faces significantly increased growth risks due to the Middle East conflict. The Monetary Policy Committee unanimously voted to keep the benchmark interest rate unchanged at 1.00% to cope with the economic impact of rising oil prices caused by the war.

The Bangkok Post reported that Bank of Thailand Governor Vitai Ratanakorn also revised this year's economic growth forecast from the previous 1.5% to 2.1%, and next year's forecast from 2.0% to 1.6%. This revision is partly due to the government's decision to borrow 400 billion Thai Baht.

Cambodia: Apparel, Footwear, and Travel Goods Exports Exceed US$5 Billion in First 4 Months, Up Over 11% Year-on-Year

(Central News Agency, Taipei, May 13) The Cambodian Customs and Excise Department released its latest data showing that from January to April 2026, Cambodia's exports of apparel, footwear, and travel goods reached US$5.02 billion, a strong year-on-year increase of 11.26%. Despite increasing geopolitical challenges, this data still shows strong growth in the industry.

These figures reinforce the resilience of these industries and solidify their position as one of Cambodia's most important economic pillars. During this period, these industries supported hundreds of thousands of jobs and contributed over 45% of the national export earnings.

Indonesia: Indonesian Rupiah Depreciates to 17,500 Mark, Forcing Companies to Postpone Expansion Plans

(Central News Agency, Taipei, May 13) The Indonesian Rupiah has fallen below the 17,500 Rupiah mark against the US dollar, beginning to impact Indonesian businesses. According to major