28.08.20 - 03.09.20 Sup SEAkers!
According to Mastercard Impact Study 2020, Malaysia leads its neighbors in Southeast Asia in the usage of mobile and digital wallets.
This Week's News Spotlight:
Brunei and Singapore set up ‘green lane’ for essential travel | Laos launches 5G network | Vietnam plans reopening of commercial air routes to Japan and South Korea | ASEAN’s growing e-wallet market | EU and ASEAN announce three new cooperation projects
Brunei and Singapore set up ‘green lane’ for essential travel - The Scoop
Applications for travel passes began on 1 September 2020.
Brunei and Singapore will establish a reciprocal green lane that allows for essential travel between the two countries. Just last month, Singapore announced that it would allow visitors from Brunei to enter Singapore for general travel without having to serve a two week stay-home notice upon arrival.
Laos launches 5G network - The Phnom Penh Post
Lao Telecom is a joint venture between the Lao government and Singapore-based Shenington Investments.
Laos has launched its first 5G network via Lao Telecom. The roll-out of 5G is expected to help the telecoms ministry modernize its services and integrate the region with the international framework, including the Digital Economy Era 4.0.
Services will first be provided to some areas of Vientiane, before being extended to provinces around the country.
Vietnam plans reopening of commercial air routes to Japan and South Korea - Hanoi Times
Vietnam stopped all inbound and outbound commercial flights in late March.
Vietnamese Prime Minister Nguyen Xuan Phuc has asked relevant agencies to analyse the reopening of commercial routes between Vietnam and Japan, and Vietnam and South Korea. He highlighted the importance of these routes for Vietnamese working in those countries. However, each flight must have a detailed plan to ensure safety.
ASEAN’s growing e-wallet market - The ASEAN Post
Singapore, the Philippines, and Thailand have reported reducing their cash usage by 67%, 64%, and 59% respectively.
ASEAN’s digital economy is growing at a rapid pace, with almost 70% of consumers in Southeast Asia projected to go digital in 2020, according to a report by Bain & Company. About 22% of respondents now prefer to transact via e-wallets, up from 14% last year.
While China has traditionally led in the mobile economy, Southeast Asia’s e-wallet adoption is quickly rising, with 49% of commercial bank customers in the region already using e-wallets. A Boston Consulting Group report predicted that this number could reach 84% as soon as 2025.
EU and ASEAN announce three new cooperation projects - The ASEAN Post
The Philippines continues to struggle with Covid-19 cases.
The EU will be working with ASEAN on three new development cooperation projects to support sustainable urbanization, forest management, and government accountability. The projects will provide an additional USD 2.3 million in bilateral support for ASEAN, making the EU the most important partner for the trade bloc.
The three projects are:
Smart Green ASEAN cities project, which focuses on sustainable urbanisation.
Forest Law Enforcement, Governance, and Trade (FLEGT) project, which aims to provide support for forest governance and sustainable timber licencing and trade in ASEAN.
Supreme Audit Institutions (SAIs) of ASEAN (ASEANSAI) project, which looks to strengthen public governance by raising awareness of international standards of Supreme Audit Institutions.