Data is the oil of the 21st century, and Southeast Asia risks pumping its reserves into foreign tanks. The need for the region to develop its own technological infrastructure has never been more pressing.

With nearly 700 million people and rapidly growing economies, Southeast Asia has become a pivotal region in the global geopolitical landscape. The technological revolution sweeping across its diverse nations is reshaping traditional industries and governance structures at an unprecedented pace. As digital innovation accelerates, Southeast Asian countries are strategically positioning themselves to maintain sovereignty over their technological futures while fostering vibrant innovation ecosystems amid intensifying global tech rivalries amongst states and their respective firms. At a time when a multipolar world order is characterized by intensifying strategic competition and fluid geopolitical realignments, the imperative for the region to develop autonomous technological infrastructure and digital sovereignty has never been more critical. 

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The IMF projects Vietnam’s GDP growth at 6.1% for 2024, supported by external demand and government policies, despite risks in exports and the real estate sector.

In its recent September report, the International Monetary Fund (IMF) significantly upgraded its 2024 GDP growth forecast for Vietnam to 6.1%, anticipating that the country’s GDP will achieve $468.5 billion by year-end. This optimistic projection stems from several positive indicators such as robust external demand, a resilient inflow of foreign direct investment (FDI), and supportive government policies targeted at economic recovery.

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The fifth Thai – Lao friendship bridge, which links Bueng Kan province of Thailand with Pakxan town of Laos, is scheduled to open this November.

Deputy Transport Minister of Thailand Manaporn Charoensri said recently that the project features a 1.35km crossover with a dual-lane road traversing the Mekong River and a four-lane bypass on the Thailand side.

The bypass links Highway No.222 (Bueng Kan – Phang Khon) with Nong Khai, Nakhon Phanom and Sakon Nakhon provinces of Thailand. Additionally, a 2.86km dual-lane bypass in Pakxan is also included in the project.

Manaporn noted the project, worth 3.9 billion THB (105 million USD) in total, aims to facilitate transportation between Thailand and Laos. When operational, the bridge will help transporters decrease costs and time spent on cargo transportation between the two countries, thus benefiting logistics and tourism.

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Statistics from the International Rice Research Institute (IRRI) show that out of 47 million tonnes of straw per year, only 20 percent is used as straw mushroom beds, cattle feed, cushion for fruit transportation. The rest is either burnt (20 million tonnes such each year in Vietnam) or buried in rice fields, which is a huge waste.

Lately, in Vi Thuy District of Hau Giang Province, the Ministry of Agriculture and Rural Development has introduced advanced machines to roll or mix straw to turn it into organic fertilizer. Obviously, the need for investment in the agricultural field is extremely high to make better use of produce and its by-products.

At present, the Agriculture and Rural Development Ministry is launching various measures to synchronize agricultural mechanization, which means a great need for collaboration between private businesses and agricultural cooperatives in the Mekong Delta to invest in machines to offer necessary services to farmers.

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Over the past year, the pace of hydropower development along the mainstream of the Mekong River in Laos has picked up, fuelled by long-term funding agreements. Chinese and Thai hydropower project investors have been signing Power Purchase Agreements (PPAs), which usually cover a 30-year period, with the governmental Electricity Generating Authority of Thailand (EGAT).

Thailand is the largest investor in Laos’ power generation sector. In 2016, Thailand signed an agreement to purchase 9,000 megawatts (MW) of electricity from Laos over the following two decades, a figure that increased to 10,500 MW with the signing of another agreement in early 2022.

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VIENTIANE (Vientiane Times/ANN): Laos Prime Minister Sonexay Siphandone has pledged to amend legislation to improve the business environment amid fierce international competition by governments to improve their ease of doing business.

he government will “amend the Investment Promotion Law and relevant legislation to smooth business operations and investment,” he told lawmakers at the ongoing National Assembly (NA)’s 5th ordinary session.

In response to questions from Assembly members, the head of government said his cabinet will explore and employ greater incentives to attract private investment.

The relevant sectors will be entrusted to expedite the categorisation of land types so that land concessions can be issued quickly in accordance with particular investment projects upon approval.

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Thailand has been a popular expatriate destination for investment and retirement for decades, but foreign land ownership has long been restricted.

Foreigners can own no more than 49% of any condominium development and are restricted from owning most freehold estates. Yet Thailand is keen to attract wealthy international investors — particularly those from China.

Thailand’s now-suspended Prime Minister Prayut Chan-ocha proposed a policy that would allow foreigners to own land for residential use on July 15, 2022. Thai officials claim this will boost the economy by luring wealthy foreigners to spend and invest in the country.

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A nation disadvantaged by geography, Laos has turned to intense infrastructural development and foreign direct investments to accelerate economic growth. As the landlocked nation opens its doors to foreign money, who is it inviting, and what troubles lay ahead?

Once an ancient kingdom and a hub for overland trade, Laos has found it difficult to thrive in a globalised world, after decades of colonisation and war. The country’s mountainous terrain and modest population of 7.2 million have also left it with limited economic opportunities. To solve this, the government has generously welcomed foreign direct investments (FDI) since the 1980s, especially in major infrastructural developments, hoping to leverage capital and skills transfer to improve its economy.

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The post Money flows: Who’s investing in Laos, and what problems do they present? first appeared on Open Development Mekong.

Laos’ economy is projected to grow 3.4 percent this year and 3.7 percent in 2023, due to the country’s investments to boost exports, according to the Asian Development Outlook (ADO) 2022 released by the Asian Development Bank (ADB) on Wednesday.

“Growth in 2022 and 2023 will be underpinned by recovering investment and rising output in capital intensive industries, including electricity and mining; gradually recovering tourism; and agriculture’s continued steady performance,” the report stated.

“Downside risks to the outlook are the possibility of new Covid variants and inflationary pressures exacerbating an already high level of debt distress. A key policy challenge is staying on track for decarbonisation commitments.”

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Vietnam is granting Can Tho, on the Mekong Delta, a special status to draw investment amid China’s growing presence in the country and the South China Sea.

The National Assembly approved the plan to promote the southern city on Tuesday. With this resolution, Hanoi will grant the city increased autonomy to issue local government bonds and retain more of its budget for its own development rather than contributing to the government’s coffers. More flexibility will be granted in the area of city planning on a trial basis.

The resolution will take effect on March 1 and be implemented for five years.

Can Tho, with a population of 1.2 million, will become a “core city of the Mekong Delta region” by 2030, according to the resolution. Vietnam intends to draw investments totaling dozens of billions of dollars, according to the blueprint for 2022 to 2030. Despite its growth potential, the city has been lagging behind Haiphong and Danang in terms of development as Hanoi prioritized investment in northern cities.

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