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Top News Headlines In Indonesia, Laos, Myanmar, Singapore, Thailand & Vietnam: May 21, 2025

Top News Headlines In Indonesia, Laos, Myanmar, Singapore, Thailand & Vietnam: May 21, 2025

Barnama21-05-2025

Twenty-seven years after Indonesia emerged from the shadow of authoritarian rule, the nation now stands at a crossroads, as it reaches what some pro-democracy advocates describe as 'the end of political reform', marked by the dismantling of democratic institutions and the return of authoritarian tendencies.
President Prabowo Subianto has appointed two new top officials to lead tax and customs agencies amid a sharp decline in state revenue during the first four months of 2025. Bimo Wijayanto, a senior bureaucrat at the Coordinating Ministry for Economic Affairs, will replace Suryo Utomo as Director General of Taxes. Meanwhile, Lieutenant General Djaka Budi Utama, currently serving as secretary of the State Intelligence Agency (BIN), has been tapped to lead the Directorate General of Customs and Excise, replacing Askolani.
The Health Ministry on Monday launched vaccination education tools based on the country's 'Pink Book' to raise awareness of immunisation and improve understanding of vaccines among low-literacy and diverse ethnic communities.
2. NEW LAO-THAI BRIDGE TO RAISE TRADE -- VIENTIANE TIMES
A 1,350-metre bridge linking Bolikhamxay province in Laos and Bueng Kan province in Thailand across the Mekong River will be opened at the end of 2025. It will boost travel and deepen trade between the two neighbours in the Greater Mekong Subregion.
MYANMAR
1. SAC READY TO TRANSFER POWER TO NEW GOVERNMENT -- THE GLOBAL NEW LIGHT OF MYANMAR
State Administration Council (SAC) Chairman Senior General Min Aung Hlaing said the current government will hand over the state responsibilities to the party that wins the elections. The administration is planning to hold a nationwide elections later this year.
SINGAPORE
1. SQ321 INCIDENT: ONE YEAR ON, PASSENGERS RECALL HOW EXTREME TURBULENCE UPENDED THEIR LIVES -- THE STRAITS TIMES
It has been six months since giving birth to her second child in November 2024, but Ms Saw Rong still cannot carry the baby girl.
2. SINGAPORE CALLS FOR IMMEDIATE CEASEFIRE, RESUMPTION OF AID AS GAZA VIOLENCE ESCALATES -- CNA
Singapore on Tuesday (May 20) called for an immediate ceasefire and the resumption of humanitarian aid into Gaza, as Israel intensified attacks across the territory.
THAILAND
1. THAI BUSINESS LEADERS URGE POLITICAL STABILITY AND STRATEGIC INVESTMENTS TO REVIVE ECONOMY -- THE NATION
The Thai business sector is increasingly concerned about the nation's political instability, fearing it could erode investor confidence and further weaken the already fragile economy.
2. PM BACKS HOLD ON HANDOUT -- BANGKOK POST
Prime Minister Paetongtarn Shinawatra has defended the government's decision to postpone the third phase of the 10,000-baht handout programme, saying uncontrollable circumstances made it impossible to implement it.
VIETNAM
1. MACRON'S VIETNAM VISIT WILL ELEVATE BILATERAL TIES -- VIETNAM NEWS
French President Emmanuel Macron and his spouse will visit Vietnam from May 25-27 which is expected to further deepen their 50-year-old bilateral ties. Macron is visiting on the invitation of State President Luong Cuong.
2. UNIFORM E-TICKETING SYSTEM TO IMPROVE PUBLIC TRANSPORT -- VIETNAMPLUS
Hanoi will implement an integrated e-ticket system on September 2 that will eliminate the current fragmented automated ticketing system across various transport models. This will promote non-cash transactions, transparent and friendly public transport.
-- BERNAMA
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Potential of single Asean currency
Potential of single Asean currency

The Sun

time2 hours ago

  • The Sun

Potential of single Asean currency

AS global economic uncertainties continue to mount, Southeast Asia stands at a strategic crossroads. The recent surge in trade tensions, particularly those stemming from the US's tariff policies and restrictive trade measures, has reignited discussions across Asean nations about the need for greater financial and monetary integration. One idea, long debated but never realised, has resurfaced with renewed urgency – the adoption of a single Asean currency. The US has increasingly adopted protectionist trade practices, disrupted global supply chains and raised the cost of doing business. The ongoing US–China tariff war, for example, continues to unsettle Asean exporters, particularly in electronics, palm oil and rubber. According to the World Bank, the Southeast Asian region could lose an estimated US$13 billion (RM55 billion) annually due to ripple effects from trade fragmentation and tariff hikes. Currency volatility adds another layer of unpredictability. The Thai baht, Malaysian ringgit and Indonesian rupiah have all experienced significant depreciation against the US dollar over the past year, making imports more expensive and external debt burdens heavier. A single regional currency could act as a buffer, shielding Asean economies from external shocks and speculative currency attacks. The European Union's adoption of the euro has created one of the largest and most stable currency unions in the world, bringing 19 countries under a unified monetary policy. While challenges remain – as seen during the Greek debt crisis – the benefits of the euro in promoting price stability, enhancing trade and reducing transaction costs are undeniable. Eurozone trade within member states rose by over 50% in the first decade of the euro's introduction, according to data from the European Central Bank. Asean already has some groundwork laid. The Chiang Mai Initiative Multi-lateralisation, Asean+3 Macroeconomic Research Office and the Asean Economic Community indicate that economic collaboration is not only feasible but already partially in motion. Intra-Asean trade now accounts for more than 22% of total Asean trade, worth over US$800 billion annually, according to the Asean Statistical Brief. Countries such as Malaysia, Singapore, Vietnam and Thailand are increasingly interlinked in production and consumption. Harmonising currency would eliminate foreign exchange costs, encourage regional investment and boost economic resilience. Moreover, the growing influence of China's yuan and the possible future expansion of BRICS' financial infrastructure present a challenge to Asean central banks, which are still highly reliant on the US dollar. A single Asean currency could strengthen the bloc's bargaining power in global negotiations and reduce overdependence on Western financial systems. Critics rightly point out the challenges, such as differences in inflation rates, fiscal discipline, political structures and financial market maturity. Asean is more diverse economically than the Eurozone, ranging from high-income Singapore to emerging economies like Laos and Myanmar. However, unity does not require uniformity. A staged implementation – beginning with a currency basket peg or a digital Asean currency for intra-bloc trade – could serve as a realistic first step. Digital tools such as QR-code payments and central bank digital currencies, already in use in Thailand, Singapore and Malaysia, can fast-track integration. The post-Covid-19 world is reshaping global economic priorities. With ongoing trade disruptions and geopolitical instability, Asean must ask itself whether continuing with fragmented currencies serves its future. Now is the time for the region to boldly envision a future anchored in monetary unity. A single Asean currency is not just a dream – it could be the key to securing long-term stability, growth and independence in an increasingly uncertain world. Dr Uma Murthy and Dr Paul Anthony Maria Das are lecturers at the School of Accounting and Finance, Taylor's Business School, Faculty of Business and Law, Taylor's University. Comments: letters@

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