ASEAN Finance / ASEAN Express - July 13, 2026

ASEAN Finance Special Report (300 articles)

Stay ahead with the New Southbound Policy and monitor ASEAN's economic pulse. CNA's 'Southeast Asia Financial Information Network' delivers daily curated headlines from Thailand, Vietnam, Indonesia, Malaysia, the Philippines, and more. Whether it's government policies, industry trends, or investment opportunities, stay informed with real-time insights to seize market advantages.

Vietnam: Manufacturing and Exports Show Resilience; ADB Maintains Strong Growth Outlook

(CNA Taipei, July 13) The Asian Development Bank (ADB) slightly downgraded its economic growth forecast for developing Southeast Asia in its latest 'Asian Development Outlook' report released on the 9th, but kept Vietnam's outlook unchanged, citing disruptions to energy supply from Middle East conflicts.

Vietnam remains the fastest-growing economy in Southeast Asia, with ADB projecting growth rates of 7.2% in 2026 and 7% in 2027. This strong performance reflects continued manufacturing growth, resilient exports and investment, and steady domestic demand.

Laos: Economic Slowdown; ADB Forecasts 4% Growth for 2026

(CNA Taipei, July 13) According to the Asian Development Bank (ADB), despite challenges from slowing growth and inflation, Laos' economy is expected to continue expanding in 2026.

ADB's latest 'Asian Development Outlook' report, released on the 9th, forecasts that global factors such as Middle East conflicts and rising energy costs will slow Laos' economic growth. Inflation is also expected to rise.

ADB predicts Laos' 2026 economic growth will slow from 4.4% in the previous year to 4%, while the World Bank forecasts a slowdown to 3.8%.

Singapore: Renewable Energy Generation Up 6-Fold in 10 Years; Solar Power as Main Driver

(CNA Taipei, July 13) Data from the International Renewable Energy Agency (IRENA) shows that Singapore's renewable energy generation reached 1,742 megawatts (MW) last year, a 22% year-on-year increase and over six times higher than a decade ago. Nearly all of this comes from solar power, achieving the 2030 target five years ahead of schedule.

According to The Straits Times, Middle East conflicts have caused energy price volatility, highlighting the importance of renewable energy. Singapore plans to accelerate its energy transition by integrating smart grids and energy storage systems. Hydrogen energy may also be utilized in the future, potentially supplying up to 50% of electricity demand by 2050.

Philippines: ADB and IMF Downgrade 2026 Economic Growth Forecast Significantly

(CNA Taipei, July 13) The Asian Development Bank (ADB) and the International Monetary Fund (IMF) have recently downgraded the Philippines' economic outlook. ADB revised its 2026 GDP growth forecast for the Philippines from 4.4% to 3.8% in its latest 'Asian Development Outlook'. The IMF also lowered its forecast to 3.9%.

This is the largest downward revision among ASEAN countries, primarily due to controversies over first-quarter flood control projects and the international energy crisis triggered by Middle East conflicts. Persistently high energy prices are also suppressing private domestic consumption and tourism growth.

Myanmar: Slight Economic Stabilization After Restart, but Growth Downgraded Amid Fuel Crisis

(CNA Taipei, July 13) The World Bank's latest economic monitoring report indicates that Myanmar's economy, after the March 2025 earthquake, showed slight signs of stabilization in early 2026, including partial relief in power supply and a recovery in manufacturing.

However, the World Bank notes that the geopolitical crisis in the Middle East has caused international oil prices to surge, creating a 'fuel tsunami' for Myanmar, which heavily relies on imported energy. With the overall economic environment still fragile, the World Bank has downgraded Myanmar's 2026 fiscal year growth forecast from 3% to 2%.

Malaysia: Focusing on High-Value AI Data Centers to Drive Digital Infrastructure

(CNA Taipei, July 13) Research firm BMI reports that Malaysia is adjusting its policy to prioritize high-value, high-capital AI projects in data center development, aiming to enhance national AI capabilities and drive digital economic growth. This also raises market entry barriers for new players.

Malaysian Prime Minister Anwar announced in February that authorities have stopped accepting non-AI data center applications since 2024. Going forward, large-scale AI projects will be prioritized to ensure limited water and electricity resources are allocated to long-term beneficial tech investments. On sustainability, the government has strengthened reviews, with about 30% of applications rejected for failing to meet water and power usage standards.

Thailand: SCB X Partners with Tencent and Korean Online Bank to Enter Thailand's Digital-Only Banking Market

(CNA Taipei, July 13) Amid Thailand's economic slowdown and stagnant loan growth, SCB X, Thailand's fourth-largest financial group by asset size, has partnered with South Korea's KakaoBank and China's WeBank to launch a digital-only bank 'BankX', leveraging AI for microloans targeting underserved customer segments.

Nikkei Asia reports that while Thailand's financial account penetration has reached 93%, BankX faces competition from Bangkok Bank and the CP Group. It also faces initial pressures from technology investment and deposit acquisition costs. SCB X aims to unlock new growth drivers through innovative financial services.

Cambodia: France Prepares to Expand Economic and Trade Cooperation with Cambodia

(CNA Taipei, July 13) Nicolas Forissier, France's Minister Delegate for Foreign Trade and Economic Attractiveness, visited Cambodia from the 9th to 10th, stating that France will continue to promote trade and investment liberalization and facilitation, deepen economic cooperation, and encourage French businesses to expand investments in Cambodia. He also held meetings with several Cambodian ministers to discuss trade diversification, sustainable infrastructure, energy transition, and healthcare facilities.

France is Cambodia's largest European investor, with over 200 French companies operating in transportation, energy, finance, healthcare, and tourism. Bilateral trade reached $568 million in 2025, up 11.7% year-on-year. France has also pledged over 1.5 billion euros to support seven major projects in Cambodia, including agriculture, energy, water supply, and climate change.

Indonesia: Government Seeks NVIDIA Investment to Expand Data Center Capacity

(CNA Taipei, July 13) The Jakarta Post reports that a senior Indonesian minister said the government is seeking investment from U.S. chip giant NVIDIA to expand Indonesia's data center capacity. Additionally, over $20 billion in funding is being raised from unnamed investors.

Indonesian media Detik.com reports that Coordinating Minister for Economic Affairs Airlangga Hartarto stated on the 10th that Indonesia aims to increase data center capacity from the current 580 megawatts (MW) to 1.3 gigawatts (GW) to meet the global AI wave.

※ For more information, contact Group Leader Zhang Lijuan at (02) 2505-1180#792 or [email protected]

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