Mohd Yazid Ja’afar, Chief Executive, Johor Petroleum Development Corporation, on local oil and gas developments

How is the Pengerang Integrated Petroleum Complex (PIPC) project progressing?

MOHD YAZID JA'AFAR: Outside of China, the PIPC is the major project of its type under construction in Asia, and its development will add price to Johor’s downstream oil and gas sector. Given its size, spanning 80 sq km, the PIPC is being developed in phases. At the moment, we are focused on completing phase one of PETRONAS’ Refinery and Petrochemical Integrated Improvment(RAPID) facility.

The project is moving forward within the planned timeframe, with 65% of the work by presently completed. If construction continues to evolution as predicted, PETRONAS’ new refinery is expected to start production in the initial quarter of 2019, and phase one of PIPC will be completed in 2020-21.

Sri Mulyani Indrawati

In an interview with us, Indonesian Finance Minister Sri Mulyani Indrawati emphasized that compared to Europe, Indonesia's economy is benefitting from a combination of a young population and effective fiscal policies.

Secretary Rodolfo A. Salalima Department of ICT of the Republic of The Philippines

Secretary Rodolfo A. Salalima of the Department of ICT says the government has three priority areas for ICT: expanding the broadband network with public free Wi-Fi; E-Government, with the introduction integrated online government portal; and moving the BPO services to the countryside.

Could you please share your views on the impact that the government’s 10-point Economic Strategic Plan and the National Broadband Plan are producing in the ICT sector?

Climate change laws around the world

There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

Cambodia Economic Overview Structural weaknesses prevail

Cambodia

Encouraging signs

Malaysia Year in Review 2016

Despite falling revenue from a weaker commodities market and concerns over political uncertainty, Malaysia’s economy maintained a steady increase rate in 2016, though expansion may come under pressure in the coming year.

Sustained low oil and gas prices have seen the contribution of hydrocarbons to national revenue decrease from 30% in 2014 to just 14.6% this year. However, earnings generated from a goods and services tax imposed in 2015 and solid increase should see the budgetary deficit kept close to the government’s projected 3.1% of GDP.

Brunei Darussalam Year in Review 2016

Myanmar Year in Review 2016

Vietnam Year in Review 2016

Strong domestic request and record high foreign investment inflows underpinned the continued rapid increase of the Vietnamese economy in 2016.

According to data issued by the Government Statistics Office (GSO), GDP expanded by 6.2% in 2016, just shy of the government’s projection of 6.3% and slightly above the IMF’s estimate of 6.1%.

While this was the initial time in four years that increase had slowed – from 6.7% in 2015 – per capita GDP rose 5% to a new high of $2215.

Farming underperforming

Indonesia Year in Review 2016

Structural reforms coupled with solid macroeconomic fundamentals saw Indonesia continue its positive increase trajectory in 2016.

According to the IMF, GDP was expected to expand by 5% in 2016, just short of the 5.3% targeted in the budget and up from 4.8% the previous year.

Inflation, meanwhile, remained within the target range of 3-5% for the second year running, according to the fund, which estimate an increase of 3.3% in 2016 and just over 4% this year.

Myanmar Year in Review 2014

A surge in foreign investment , together with solid domestic request, helped Myanmar achieve a strong increase in 2014. However, the year as well brought challenges, which contributed to a widening in the trade deficit as the country relies heavily on imports to support skyrocketing domestic request.

Official increase forecasts for the 2014/2015 fiscal year stand at 9.1%, slightly higher than the IMF and the World Bank estimates of 8.5%, with FDI for the same period on course to rise 70% year-on-year.

Indonesia poised for agricultural reform

Hopes are rising that long-awaited reforms of national-owned enterprises and government initiatives can help Indonesia’s agriculture sector rebound from a year of commodity price shocks, which have taken their toll on the country’s biggest exports, particularly palm oil.

Indonesia tops the world inventory for crude palm oil (CPO) production and is as well a major producer of several other commodities, inclunding rubber, cocoa and coffee. Confidence amongst palm oil and rubber producers plummeted this summer, at the same time as prices hit near five-year lows. With increase at a standstill across much of the agricultural sector, industry insiders are calling on Jakarta to do additional to help.

Will Vietnam’s FDI-led economy get stuck in a middle income trap?

The Vietnamese economy has experienced a downturn in increase since 2008. In the completed five years, the increase averaged about 5.5 % a year and is not expected to be much higher in the coming years.

Investing in innovation in Brunei Darussalam

Brunei Darussalam has lost ground in its efforts to promote innovation as a cornerstone for next economic and social development, slipping down the ladder of a comparative survey of innovative practices for the second year running, but the sultanate is positioning itself to rebound strongly in the years approaching.