The Korea Herald chief editorial writer elected new ANN chairman

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Chon Shi-yong, the chief editorial writer of The Korea Herald
Chon Shi-yong, the chief editorial writer of The Korea Herald

The Korea Herald chief editorial writer elected new ANN chairman

ASEAN+ July 17, 2018 08:56

By Asia News Network
SEOUL

Chon Shi-yong, the chief editorial writer of The Korea Herald, has been elected as the new chairman of the Asia News Network (ANN), an alliance of 24 leading media organizations in 21 countries across Asia.

Chon, a member of the ANN Board of Editors since 2015, was elected by the Board in its recent annual meeting in Kuala Lumpur. Under his chairmanship, The Korea Herald will co-host the next Board meeting in Seoul in April 2019, which will celebrate the 20th anniversary of the alliance.

“I’m very honored to assume the chairmanship of ANN which has grown as the only alliance of its kind in Asia over the past 20 years. I hope ANN will help the Asian media tackle challenges including threat to journalism and the onslaught of the digital media,” Chon said.

ANN, founded by nine members in 1999, is supported by the Konrad Adenauer Stiftung of Germany, which runs Media Programme Asia based in Singapore. The programme’s new director Christoph Grabitz will assume his post on August 1.

Working under the motto“We Know Asia Better,”ANN has editorial desks in Bangkok, Delhi, Singapore and Phnom Penh, whose core operation includes real-time exchange and sharing of news among members, and operation of a news website at http://annx.asianews.network. Other services and activities include daily e-newsletter, exclusive insightful reports on http://www.asianews.network and a platform for commentaries by editors and Asian commentators.

The alliance also organizes various forums on the media and journalism. In the past year, ANN has co-hosted mobile journalism and VDO workshops, conferences on One Belt One Road, and elections in Asia 2018/19; conducted a joint pan-Asia Facebook Live! on traffics out of major Asian cities; and participated in press freedom and fake news seminars.

ANN members comprise The Korea Herald, China Daily, China Post (Taiwan), Gogo Mongolia, Yomiuri Shimbun and The Japan News, Dawn (Pakistan), The Statesman (India), The Island (Sri Lanka), Kuensel (Bhutan), Kathmandu Post (Nepal), Daily Star (Bangladesh), Eleven Media (Myanmar), The Nation (Thailand), Jakarta Post, The Star and Sin Chew Daily (Malaysia), the Phnom Penh Post and Rasmei Kampuchea (Cambodia), The Borneo Bulletin (Brunei), The Straits Times (Singapore), Vietnam News, Philippine Daily Inquirer and Vientiane Times (Laos).

At summit, Trump refuses to confront Putin on vote row

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At summit, Trump refuses to confront Putin on vote row

ASEAN+ July 17, 2018 08:21

By Agence France-Presse
Helsinki

President Donald Trump refused to confront Vladimir Putin over meddling in the US election at their first face to face summit, publicly challenging the findings of the US intelligence community and triggering bipartisan outrage at home.

The US and Russian presidents came out of their meeting in Helsinki Monday expressing desire for a fresh start between the world’s leading nuclear powers and more talk on global challenges, after discussing an array of issues from Syria, Ukraine and China to trade tariffs and the size of their nuclear arsenals.

There were indications of an arrangement to work together and with Israel to support a ceasefire in southern Syria, suggesting that the US administration is backing off its demand that Moscow’s ally Bashar al-Assad step down.

If that is anathema to many in Washington, Trump’s apparent concessions to Putin over the election controversy drew stinging condemnation from across the political divide.

Standing alongside the Kremlin boss at a joint news conference, Trump acknowledged that his intelligence chiefs believe Russia hacked and leaked Democrats’ emails containing politically damaging information about his rival Hillary Clinton in 2016.

But, insisting he had won the race fair and square, the wealthy property tycoon said: “I have President Putin, he just said it is not Russia. I will say this: I don’t see any reason why it would be.”

Friday’s US indictment of 12 Russian military intelligence agents exploded with embarrassing timing for Trump as he prepared to meet Putin. On Monday, officials said another Russian agent had been arrested for seeking to influence US politics.

But the US leader insisted that his counterpart had delivered a “powerful” denial of any Russian manipulation, and that the investigation by special counsel Robert Mueller was proving a “disaster” for the United States.

‘Never interfered’

Trump again denied any collusion between his campaign and the Kremlin, while Putin insisted: “The Russian state has never interfered and is not planning to interfere in the USA’s internal affairs.”

As criticism mounted, Trump tweeted from Air Force One on his way home from Finland that he had “GREAT confidence in MY intelligence people”.

“However, I also recognize that in order to build a brighter future, we cannot exclusively focus on the past – as the world’s two largest nuclear powers, we must get along.”

Angry criticism of his disavowal of his own intelligence agencies came even from within Trump’s Republican Party.

Senior Republican Senator John McCain was particularly scathing, saying: “Coming close on the heels of President Trump’s bombastic and erratic conduct towards our closest friends and allies in Brussels and Britain, today’s press conference marks a recent low point in the history of the American presidency.”

Director of National Intelligence Dan Coats distanced himself from his boss, issuing a statement saying the US intelligence community’s judgment that Russia interfered in the 2016 election was “clear”.

But the top Democrat in the US Senate, Chuck Schumer, tweeted that many Americans can only wonder if “the only possible explanation for this dangerous behaviour is the possibility that President Putin holds damaging information over President Trump.”

And former CIA director John Brennan said Trump’s behavior at the news conference “rises to & exceeds the threshold of ‘high crimes & misdemeanors.’ It was nothing short of treasonous.”

Putin denied the notion that Russian spy bosses may hold compromising information on Trump, who in his previous business career oversaw the Miss Universe pageant in Moscow in 2013.

“Please get this rubbish out of your heads,” the Russian leader said.

In a post-summit interview with Fox News, Putin said US-Russia relations should not be held “hostage” to “internal political games,” referring to the Mueller probe.

The two leaders appeared relaxed at the Helsinki news conference, smiling on occasion, in contrast to their sombre demeanour at the start of the day.

Trump, bent on forging a personal bond with the Kremlin chief despite the election allegations, went into the summit blaming the “stupidity” of his predecessors for plunging ties to their present low.

His manner towards Putin was also a contrast to the anger Trump flashed at NATO allies at a combative summit of the alliance in Brussels last week, which critics said would only hearten Putin.

‘Only the beginning’

A post-NATO trip to Britain, supposedly America’s partner in a “special relationship”, was riddled with controversy as well.

In Helsinki, however, Trump was determined to accentuate the positive, as was Putin.

The two leaders met one-on-one for more than two hours, with just their interpreters present, before they were joined by their national security teams.

Many in Washington were agog at Trump’s decision to sit alone with Putin, worried about what he might give away to the former KGB spymaster, after previously cosying up to the autocratic leaders of China and North Korea.

But Trump, convinced his unique brand of diplomacy can win over Putin, pressed ahead and looked forward to “having an extraordinary relationship” as the pair sat down to discuss global hotspots.

‘Foolishness and stupidity’

Trump began the day by firing a Twitter broadside at his domestic opponents, blaming the diplomatic chill on the election investigation.

“Our relationship with Russia has NEVER been worse thanks to many years of U.S. foolishness and stupidity and now, the Rigged Witch Hunt!” Trump tweeted.

Russia’s foreign ministry tweeted in response: “We agree.”

In a weekend interview with CBS News, Trump admitted that Russia remains a foe, but he put Moscow on a par with China and the European Union as economic and diplomatic rivals.

‘Shameful’: US lawmakers blast Trump over Putin summit

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‘Shameful’: US lawmakers blast Trump over Putin summit

ASEAN+ July 17, 2018 07:00

By Agence France-Presse
Washington

US lawmakers blasted President Donald Trump Monday over his uncritical comments towards Russia during a landmark summit with Vladimir Putin, calling it “shameful”, “dangerous” and “verging on treason.”

Senior Republican Senator Lindsey Graham described Trump’s Helsinki summit and joint press conference with Putin as a “missed opportunity” to hold Russia accountable for meddling in the 2016 election.

Trump’s answer to a question on election interference, in which he attacked US Democrats rather than Moscow’s spies, “will be seen by Russia as a sign of weakness and create far more problems than it solves,” Graham charged.

Senator Jeff Flake, a fellow Republican and staunch critic of the president, labelled his performance “shameful.”

“I never thought I would see the day when our American President would stand on the stage with the Russian President and place blame on the United States for Russian aggression. This is shameful,” he said in a tweet.

Representative Frank LoBiondo, a Republican on the House Intelligence Committee, which is investigating Russian election meddling, noted that just on Friday US prosecutors indicted 12 Russian spies for hacking Democratic computers during the election.

“It is clear Russia’s intentions,” he said. “President Trump missed opportunity to hold Putin publicly accountable.”

Democrats had much harsher language for the president.

Chuck Schumer, the senior Democrat in the Senate called Trump’s appearance of siding with Putin over the allegations of election interference “dangerous and weak”.

“In the entire history of our country, Americans have never seen a president of the United States support an American adversary the way @realDonaldTrump has supported President Putin,” Schumer said.

‘Green light to interfere’

“For the president of the United States to side with President Putin against American law enforcement, American defense officials, and American intelligence agencies is thoughtless, dangerous, and weak. The president is putting himself over our country,” Schumer charged.

Democratic California Representative Jimmy Gomez accused Trump of continuing to “sell out” his own country to Russia.

“To side with Putin over U.S. intelligence is disgusting; to fail to defend the U.S. is on the verge of treason. All Americans should be worried.”

Congressman Adam Schiff, the senior Democrat on the House Intelligence Committee, said Trump had given Putin “a green light to interfere in 2018.”

Democratic Senator Chris Murphy was even more direct in his criticism.

“This entire trip has just been one giant middle finger from President Trump to his own country. Just jaw dropping,” he wrote on Twitter.

Two former US intelligence chiefs expressed shock over Trump’s appearance of “capitulating” to Putin.

“Donald Trump’s press conference performance in Helsinki rises to & exceeds the threshold of ‘high crimes & misdemeanors.’ It was nothing short of treasonous,” said John Brennan, director of the Central Intelligence Agency from 2013 to 2017.

James Clapper, Director of National Intelligence from 2010 to 2017, called Trump’s performance “an incredible capitulation.”

“It is truly unbelievable. On the world stage… the president of the United States essentially capitulated and seemed intimidated by Vladimir Putin,” Clapper told CNN.

US arrests Russian agent for conspiring to influence US politics

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US arrests Russian agent for conspiring to influence US politics

ASEAN+ July 17, 2018 06:44

By Agence France-Presse
Washington

A 29-year-old Russian woman has been arrested for conspiring to influence US politics by cultivating ties with political groups including the National Rifle Association.

Mariia Butina was arrested in Washington on Sunday and appeared in court in the US capital on Monday, the Justice Department said in a statement.

Butina was charged with conspiracy to act as an agent of Russia “by developing relationships with US persons and infiltrating organizations having influence in American politics,” the statement said.

It said that Butina had broken US law by not disclosing that she was acting on behalf of the Russian government.

The Justice Department said Butina had close ties to a “Russian official” who was not identified in the arrest documents but has been widely reported to be a Russian politician named Alexander Torshin.

Torshin is currently a senior official with Russia’s central bank and a former top Russian lawmaker.

The Justice Department said Butina carried out her activities at the direction of the “Russian official.”

It said Butina and the official sought to develop relationships with US politicians to create “back channel” lines of communications that could be “used by the Russian Federation to penetrate the US national decision-making apparatus.”

Among the relationships allegedly forged by Butina were ties with the NRA, which is a strong ally of the Republican Party.

Happy Helsinki summit fails to charm Trump and Putin

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  • Russian President Vladimir Putin (R) and US President Donald Trump shake hands before a meeting in Helsinki, on July 16.//AFP
  • Russian President Vladimir Putin (R) and US President Donald Trump attend a meeting in Helsinki, on July 16.//AFP
  • US President Donald Trump (3L), Russia’s President Vladimir Putin (2R) and others wait for a working lunch meeting at Finland’s Presidential Palace on July 16 in Helsinki, Finland. //AFP

Happy Helsinki summit fails to charm Trump and Putin

Breaking News July 17, 2018 01:00

Helsinki – The United Nations may have judged Finland the happiest country in the world, but the Helsinki summit failed to make Donald Trump and Vladimir Putin smile.

The American and Russian leaders seemed almost theatrically sour as they sat down for their first formal one-on-one

summit despite the city’s un-Baltic heatwave.

Perhaps fearing that Trump’s eagerness to forge a bond with Putin be mistaken for cheerful naivety, US officials

played along with the serious mood.

Trump and Putin did not shake hands when they entered, sullenly, but only when they began a lengthy closed-door

meeting that had the diplomatic world on edge.

And when White House spokeswoman Sarah Sanders tweeted out a picture, she chose a sombre black and white

showing Putin’s eyes lowered and Trump looking dully angry.

The body langauge was awkward, but television footage later showed Trump offering a stone-faced Putin a

reassuring wink.

There was none of the breezy pageantry of Trump’s summit with North Korea’s Kim Jong Un, or the tactile

camaraderie of French President Emmanuel Macron’s White House visit.

Perhaps this was to be expected. There is a lot at stake for the presidents, both in terms of global security and their

personal and political reputations.

But if the occasion stifled their smiles, it was not for lack of a welcome from Helsinki, hosting its biggest East-West

summit since the Cold War.

Even the Scandinavian summer was on its best behaviour, with sunshine and 30 degree Celsius heat (86F) at the

harbour-front venue during almost 20 hours of daylight.

Securing the summit represented the biggest operation for Finland’s small police force since Bill Clinton and Boris

Yeltsin came to Helsinki in 1997.

The country has the lowest number of officers per capita of any in the European Union, but the police were able to

handle both press and small crowds of peaceful protesters.

A military patrol vessel chugged around the busy harbour from time to time, between cruise liners and tour boats,

but there was no theatrical ring of steel.

The warm welcome also extended to facilities for the press — more than 2,000 of whom were accredited to cover the

one-day summit.

Both leaders were told “Welcome to the land of free press” by billboards on the route from the airport, paid for by

the top-selling newspaper Helsingin Sanomat.

While the White House press corps took over a conference centre overlooking the sun-dappled harbour, international

reporters took over the Finlandia Hall.

A venue for classical music designed by celebrated architect Alvar Aalto, the Finlandia was equipped with a lounge to

watch Sunday’s World Cup final.

– Cold War summit hub –

Craft beers and local delicacies competed with an on-site sauna to tempt reporters away from their laptops and

cameras.

In all, it was an impressive operation — especially as Finland had been given only 10 days to revive its role as a host

of crucial security summits.

Finland was chosen for its non-aligned status, even if it maintains a distrust of Russia and leans West — President

Sauli Niniisto attended last week’s NATO summit.

Before the Yeltsin-Clinton summit, George Bush and Mikhail Gorbachev came to Helsinki in 1990, just a year before

the Soviet Union fell apart.

And in 1975, Gerald Ford and Leonid Brezhnev signed the Helsinki Accords, to uphold the post-war carve-up of

Europe agreed by Washington, Moscow and London.

So the city has a track record as a bridge between its friends in the West and nearby Russian neighbours — even if it

also has a long memory.

In pride of place among the delicacies on offer to reporters in all the summit venues: Karelian pastries, served with

egg butter.

Karelia is to Finns a historical province of Finland, now part of Russia, which controlled all of the country between

1809 and 1917.

Things have moved on for Finland since their bitter battle for independence. So much so that the 2018 UN World

Happiness Report named it the cheeriest spot on Earth.//AFP

After Taiwan soiree, Najib’s son went to Moscow for the World Cup

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  • File photo : Former PM Najib Razak

After Taiwan soiree, Najib’s son went to Moscow for the World Cup

Breaking News July 17, 2018 01:00

By The Star
Asia News Network

PETALING JAYA: Social media has been abuzz after Mohd Nazifuddin Najib , son of the former prime minister, shared photos of himself catching the World Cup final in Moscow.

Nazifuddin posted several photos of his time in Moscow on Sunday (July 15) when France beat Croatia 4-2 in the nail-biting final.

In one photo, he is seen posing with Zabivaka, the football-playing wolf who is the Russian World Cup mascot.

He posted photos of himself giving a thumbs-up at the Luzhniki Stadium and also shared a photo op with retired French international footballer Christian Karembeu.

“Yeah! Finals!!! Croatia against France, which is your choice?” Nazifuddin wrote.

On July 5, Nazifuddin set social media on fire after he was spotted wining and dining Taiwanese actress Celia Chang in Taipei.

Taiwanese portal Apple Daily said the pair was seen dining at a steakhouse and having a massage at a top luxury shopping district near Taipei 101.

The Secretary General of the Olympic Council of Malaysia’s jet-setting lifestyle has raised eyebrows as Umno grassroots supporters rallied to raise RM489,166 to help pay the RM1mil bail for his father, Datuk Seri Najib Razak, and for his legal fees.

A week ago before Nazifuddin’s trip to Moscow on July 10, Najib settled his bail after being charged with three counts of criminal breach of trust and another charge of abuse of power involving RM42mil linked to SRC International Sdn Bhd, a former subsidiary of 1Malaysia Development Berhad (1MDB).

While the family amassed enough funds to pay bail, Najib and his three children claimed that their bank accounts had been frozen in relation to the 1MDB investigation.

Mohd Nizar Najib took to Facebook lamenting that he could not pay his bills due to his account being frozen.

Najib, meanwhile, said he had only found out that his account was frozen when a personal cheque he issued to pay for his daughter’s medical treatment had bounced.

“The authorities need to realise that I am an ordinary citizen too. As the head of my household, I too have bills to pay, medical bills to attend to, and a household to run,” the Pekan MP said in a statement on July 11, claiming that he was a victim of a “draconian act” by the Government.

The Star has contacted Nazifuddin’s office for a response and is awaiting a response.

British caver says considering legal action after Elon Musk ‘pedo’ tweet

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British caver says considering legal action after Elon Musk ‘pedo’ tweet

national July 16, 2018 15:56

4,298 Viewed

A British caver who helped rescue 12 boys from a Thai cave said Monday he may take legal action against Elon Musk after the entrepreneur called him a “pedo”.

Tesla CEO Musk launched the extraordinary tirade against Vernon Unsworth without providing any justification or explanation, after the cave expert slammed his offer of a miniature submarine to extract the footballers from the Tham Luang cave as a “PR stunt”.

The “Wild Boar” team were rescued last week by an international team of divers through a narrow network of twisting, flooded tunnels.

Unsworth, who provided mapping knowledge of the cave to rescuers, said Musk’s prototype would have had “absolutely no chance of working”.

Musk responded Sunday in a bizarre series of tweets referring to Unsworth, without using his name, as “pedo guy”. “Pedo” is short for paedophile.

The entrepreneur doubled down on his claim, tweeting from his official account to more than 22 million followers: “Bet ya a signed dollar it’s true”.

Musk later deleted the tweets and did not immediately respond to a request for comment through Tesla.

Unsworth told AFP on Monday he had not reviewed the tweets in full and had only heard about them.

But asked if he would take legal action against Musk over the allegation, Unsworth said: “If it’s what I think it is yes.”

The caver said he would make a decision when he flies back to the UK this week, but added that the episode with Musk “ain’t finished”.

 

 – ‘Life and death’ –

Unsworth, who lives part of the year in Thailand, took part in the gargantuan 18-day effort to retrieve the 12 boys and their coach, a mission that ended on July 10 when the last five members were extracted.

The boys are all in good health and expected to be released from the hospital Thursday.

Reports emerged Monday that two Australian divers who took part in the rescue had obtained diplomatic immunity before the operation in case it failed.

Anaesthetist Richard Harris and diver Craig Challen were protected from prosecution if anything went awry following negotiations between Australian and Thai authorities, according to Australian broadcaster ABC.

Challen said the divers had been uncertain if they would be able to save all 12 boys and their coach in the “life and death” rescue mission.

“It wasn’t dangerous for us, but I can’t emphasise enough how dangerous it was for the kids,” he told Perth’s Sunday Times.

The boys got stuck in the cave after wandering in on June 23 after football practice only to find themselves trapped by rising floodwaters.

They were found nine days later on a muddy embankment several kilometres (miles) inside.

The unprecedented operation to haul them out involved sedating the footballers and swimming and carrying them through tight, waterlogged passages.

Musk had proposed using “a tiny, kid-size submarine” featuring technology from his space exploration firm to evacuate the boys, and travelled to Thailand with a prototype last Tuesday.

Musk’s tweets attacking Unsworth prompted condemnation from those who took part in the mission to save the boys.

Claus Rasmussen, a Danish national and instructor at Blue Label diving in Phuket, called the allegations “inappropriate” and praised Unsworth’s role in the rescue.

“He was one of the driving forces in getting everything done and clarifying for us divers what was going on,” he told AFP.

Musk had earlier triggered controversy after tweeting that the Thai rescue chief, who had declined the submarine prototype offer, was not really in charge of the operation.

“He’s just a PR stunt merchant — that’s all he is,” Unsworth said.//AFP

Thai cave rescue divers given diplomatic immunity: report

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Thai cave rescue divers given diplomatic immunity: report

national July 16, 2018 12:00

By Agence France-Presse
Sydney

3,167 Viewed

Two Australian divers who helped extract the young football team trapped in a Thai cave obtained diplomatic immunity before the rescue in case it failed, national broadcaster ABC reported Monday.

The “Wild Boars” team were stuck in the cave in northern Thailand for 18 days before Thai Navy SEALs and international cave diving experts successfully removed them in a highly risky, three-day-long operation.

Anaesthetist Richard Harris and his diving partner Craig Challen, both cave diving specialists, played key roles in the rescue.

Their participation came after negotiations between Australian and Thai authorities accorded them diplomatic immunity to protect them from possible prosecution if anything went awry during the treacherous mission, ABC reported, citing an official source.

Australia’s foreign affairs department declined to confirm or deny the report, referring questions about the planning and implementation of the rescue to Thai officials.

The mission was “absolutely life and death” and the cave diving specialists were uncertain if they would be able to successfully save all 12 boys and their coach, Challen told local media after returning home.

“It wasn’t dangerous for us, but I can’t emphasise enough how dangerous it was for the kids,” he told Perth’s Sunday Times.

The children were sedated to the point that “they didn’t know what was going on” to prevent them from panicking as they were led by the divers along the tight corridors, Challen added.

“They had drugs. We could not have panicking kids in there, they would have killed themselves and possibly killed the rescuer as well.”

The divers said they trained above ground with local children at a nearby pool, before practising with the trapped boys by getting them used to donning wetsuits, buoyancy jackets and full-face masks.

Navigating through one narrow section of the tunnel in pitch darkness was particularly challenging, British diver Jason Mallinson told the ABC.

“The only time you find out about (the section) is when your head bangs against the wall,” he said, describing his efforts to squeeze one boy he was rescuing through each obstacle.

“I was confident of getting the kid out. I wasn’t 100 percent confident of getting him out alive.

“Because if we bashed him against a rock too hard and it dislodged that mask and flooded his mask, he was a goner… We didn’t have a backup device for them. It was that mask or nothing.”

Doctors say the boys, who are recovering in hospital after their extraction last week, are in good health.

Vietnamese developers look to foreign investors

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Vietnamese developers look to foreign investors

ASEAN+ July 16, 2018 01:00

By VIET NAM NEWS
ASIA NEWS NETWORK
HANOI

AMID NARROWING credit sources and rising lending interest rates, property developers have been diversifying their capital mobilisation channels, including calling for foreign investment.

In the first half of 2018, real estate ranked second in attracting foreign direct investment (FDI) when it received US$5.54 billion, accounting for 27.3 per cent of total investment registered for this sector.

Troy Griffiths, Deputy Managing Director of Savills Vietnam, said stable macro-economic development has fuelled the domestic market’s growth and strongly attracted FDI.

It is a relatively favourable start for 2018 with promising movements in all real estate segments.

In the stock market, while the benchmark VN-Index on the Ho Chi Minh Stock Exchange has become stagnant recently, some particularly big investments have still been poured into property projects in the near future.

Good governance, improved accounting standard systems and a stable stock market have all helped persuade foreign investors to buy property stocks, he noted, adding that high profitability is also a magnet drawing investors to the Vietnamese market, compared to other markets in the region.

Real estate developers have been stepping up restructuring, aligning their strategies with the market, and investing in projects with favourable locations and transport infrastructure. They are strongly switching their focus to the affordable segment with prices matching the market demand.

Meanwhile, mergers and acquisitions (M&As) are also vibrant in the property sector. FDI poured into the market mainly comes from Japan, South Korea, Singapore, Hong Kong, Taiwan, the US, and recently, mainland China. FDI capital, one of the indicators of Vietnam’s economy, had been on the rise in recent years.

Real estate often ranked third in FDI attraction, adding an important source of capital for businesses when commercial banks are tightening loans for property projects, said chairman of the HCM City Real Estate Association

Griffiths said real estate was also attracting domestic investors who want to pour money into housing projects. Additionally, in a period whenVietnam’s tourism is recording spectacular developments, leisure property and hotel projects will continue to have chances to receive more investment.

In the first six months of 2017, the real estate sector ranked fifth in terms of attracting FDI, with a total capital of $1.1 billion.

AEC Feed

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AEC Feed

ASEAN+ July 16, 2018 01:00

By Asia News Network

VN firms must step up to join global supply chains

To sell their products to foreign distribution channels, Vietnamese businesses need to pay more attention to product design, quality assurance and after-sales services, speakers said at a training workshop held in HCM City yesterday.

Yuichiro Shiotani, director general of Aeon Top Value Company Limited, said that local companies should add more value to their products.

Aeon Top Value has been working to put a number of made-in-Vietnam products, which are available in Aeon Vietnam retail stores, on the shelves of its stores in Japan, according to the director general.

Many Vietnamese goods are available at foreign retailers’stores in Vietnam, but they are still for domestic consumption only. To be offered abroad, the products must meet other requirements.

Nick Reitmeier, executive vice president for international food & alcohol buying for Central Food Retail, which is part of Thailand’s Central Group, said that besides focusing on quality assurance, Vietnamese producers needed to improve product design.

“Besides product quality, nice design, competitive prices, and good financial capacity, local businesses need to understand the export process and norms set by foreign distribution systems,” said the deputy director of the Investment and Trade Promotion Centre of HCM City (ITPC).

ITPC this year has helped more than 30 Vietnamese companies enter the Aeon Vietnam supermarket system.

ITPC is in charge of selecting firms based on technical criteria provided by Aeon, and through an introduction by ITPC, businesses can connect directly with the purchasing managers of the supermarket. – Viet Nam News

Singapore economy grows at slower pace in second quarter

Singapore’s economy expanded 3.8 per cent year on year in the second quarter of 2018, lower than economist expectations of 4.1 per cent growth, according to Ministry of Trade and Industry (MTI) advance estimates released on Friday.

This was also down from the 4.3 per cent expansion in the first three months of the year. Manufacturing growth remained the key driver, but slowed to 8.6 per cent, down from 9.7 per cent in the previous quarter. All clusters in the sector expanded in the second quarter, with the electronics and biomedical manufacturing clusters contributing the most to the sector’s growth.

Services also saw slower growth at 3.4 per cent, down from 4 per cent the previous quarter. Growth was supported primarily by the finance and insurance, and wholesale and retail trade sectors.

Maybank Kim Eng economists Chua Hak Bin and Lee Ju Ye, however, expect both services and overall GDP performance to be upgraded when the final estimates are out in midAugust, noting that “MTI’s advance GDP estimate tends to be more conservative”.– The Straits Times