ASEAN BUSINESS NEWS

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia

 

Monthly Business News to Help You Understand the Market

Philippines, Israel Sign an Investment Promotion and Protection Deal

Philippines, Israel Sign an Investment Promotion and Protection Deal

The Philippines and Israel have vowed to strengthen bilateral economic relations by signing the Investment Promotion and Protection Agreement (IPPA), which could potentially ...
Manila City Government Opens a New USD 41 Million Hospital

Manila City Government Opens a New USD 41 Million Hospital

The City Government of Manila formally inaugurated the new PHP 2.3 Billion (USD 41 million) Bagong Ospital ng Maynila on June 24, 2022, after it broke ground on June ...
Cosco Inks a Joint Venture Deal with Siam Global For a One-Stop Warehouse

Cosco Inks a Joint Venture Deal with Siam Global For a One-Stop Warehouse

Cosco Capital, Inc. has approved and signed a joint venture agreement with Siam Global House Public Company Limited to operate a one-stop warehouse for building and ...
Defense Department to Acquire USD 533 million Korean-made Offshore Patrol Vessels

Defense Department to Acquire USD 533 million Korean-made Offshore Patrol Vessels

On the last week of June 2022, the Philippine Department of National Defense (DND) and South Korean shipbuilder Hyundai Heavy Industries (HHI) signed the PHP 30 billion (USD ...
Japanese Manufacturing Company Plans USD 710 Million Expansion of Subic Facility

Japanese Manufacturing Company Plans USD 710 Million Expansion of Subic Facility

The Department of Trade and Industry (DTI) said Japan’s Nidec Corp., a maker of electric motors, is planning a PHP 40 billion (USD 710.8 million) expansion of its ...
South Korean Firm to Invest PHP 750 Million in a Tapioca Starch Plant in Mindanao

South Korean Firm to Invest PHP 750 Million in a Tapioca Starch Plant in Mindanao

Daesang Philippines Corp., the local unit of South Korea’s Daesang Corp., has received approval from the Board of Investments (BOI) to produce tapioca starch in the country ...
More Opportunities for Vietnamese Coffee Export to the US

More Opportunities for Vietnamese Coffee Export to the US

Vietnam is anticipating more chances in the US market as the price of its coffee exports is rising. In the first five months of 2022, Vietnam raked in USD 124.95 million from ...
Singapore to Spend USD 2.7 billion in ICT, with 80% of Contracts Expected to Stay Open for SMEs

Singapore to Spend USD 2.7 billion in ICT, with 80% of Contracts Expected to Stay Open for SMEs

The Singapore Government announced in June that it plans to spend USD 2.7 billion for infocommunications technology (ICT) procurement in 2022 with small and medium-sized ...
Singapore to Double Number of Eldercare Centers by 2025 and Expand Their Services

Singapore to Double Number of Eldercare Centers by 2025 and Expand Their Services

The Singapore Ministry of Health (MOH) has announced plans to nearly double the number of eldercare centers in Singapore from 119 to 220 by 2025. This announcement comes ...
Vietnam to Host Apple’s iPad Production for The First Time

Vietnam to Host Apple’s iPad Production for The First Time

Apple has announced to produce iPad in Vietnam for the first time. This is in an effort to diversify its supply chain and lessen reliance on China, the company’s primary ...
Kinetic Energy Storage Firm Expands its Operation Capacity in the Philippines

Kinetic Energy Storage Firm Expands its Operation Capacity in the Philippines

Amber Kinetics, a manufacturer of grid-scale kinetic energy storage systems (KESS) will complete its second manufacturing plant in the country by year-end, expanding its ...
Rising Chip Demand Leads to 13.8% Hike in the Manufacturing Sector

Rising Chip Demand Leads to 13.8% Hike in the Manufacturing Sector

The global chip shortage led to increasing demand for semiconductors, which in turn made Singapore’s manufacturing output jump 13.8% year-on-year in May. For eight months the ...

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