2023-02-18

Philippines

Finance and economics: Cost and policy are the main obstacles to LNG

Given the imminent depletion of the Malapaya gas field, price and policy changes are the biggest risks to the Philippine gas industry.

In the report, Fitch noted that the country will soon have to rely on LNG imports, with the first shipments expected to arrive in the first quarter of 2023.

With Malapaya's production expected to dry up in 2024, the Philippines will not be able to achieve self-sufficiency in natural gas, which is mainly used for power generation. Although the domestic market is small, it is expected to expand from this year, given plans to build more gas-fired power plants.

However, Fitch Solutions notes that while the government wants to expand gas-fired power generation capacity, it is also promoting renewable energy.

Vietnam

Trade: Prime Minister of Vietnam: Quang Ninh province is like a mini-Vietnam with a strategic position

Vietnamese Prime Minister Pham Minh Trung described Quang Ninh province as a mini-Vietnam with a strategic position in politics, economy, defense, security and diplomacy.

Quang Ninh province has many favorable conditions for socio-economic development and is also the only region in Vietnam that borders China by land and sea.

The province can make full use of transportation corridors; promoting connectivity between local and other provinces and cities; Build a green and clean environment, a civilized society, and a developed culture; Increase the speed and quality of growth in innovation, digital transformation, green transformation, circular economy and the fight against climate change.

Quang Ninh province needs to continue to develop strategic infrastructure, especially transport facilities; accelerating administrative reform and digital transformation, particularly in the areas of finance, taxation and customs; Properly manage and utilize the value of local heritage sites and scenic spots.

Thailand

Tourism: Thailand imposes an entry fee on foreign visitors from June 1

According to CCTV News, Thailand's Minister of Tourism and Sports Pippa said that the cabinet meeting on the same day approved the proposal previously submitted by Thailand's National Tourism Policy Committee on the imposition of entry fees for foreign tourists, and the entry fee collection standards are divided into two types: about 60 yuan / person for foreign tourists entering by air, and about 30 yuan / person for foreign tourists entering by land and water.

According to Thailand's Ministry of Tourism and Sports, the entry fee paid by foreign tourists will be used to cover insurance premiums, public health management fees, and the cost of promoting tourism while tourists are in Thailand.

Cambodia

Politics: Criminal activity involving China in Cambodia has declined significantly

Chinese Ambassador to Cambodia Wang Wentian said at a media briefing that with the strong cooperation and efforts of law enforcement departments of China and Cambodia, the two sides have made remarkable achievements in combating online gambling and cross-border crimes.

Wang Wentian said that at present, with the cooperation of the two sides, China-related criminal activities in Cambodia have decreased significantly, creating a peaceful, safe and favorable environment for further economic and trade, investment and tourism cooperation in the future.