Hanoi (VNA) - The Singaporean Ministry of Trade and Industry on August 12 upgraded the country's gross domestic product (GDP) growth forecast for 2025 to 1.5-2.5%, up from 0-2% previously.
The ministry said that this adjustment largely reflects the better-than-expected performance of the domestic economy in the first half of 2025.
However, economic growth in the second half is forecasted to slow down, with manufacturing growth potentially weakening due to US tariffs reducing demand in global consumer markets. Additionally, wholesale trade may cool as early purchasing activities gradually decline and global trade slows. Meanwhile, decreased demand for maritime and air transportation could negatively impact the transportation and storage sectors, the ministry said.
The nation’s economy grew 4.4% in the second quarter, a slight upgrade from the advance estimate of 4.3%. GDP growth for the first quarter was 4.1%.
The ministry affirmed that it will continue to monitor developments in the global and domestic economies closely, and make adjustments to the forecast if necessary over the course of the year./.
The Singaporean government needs to enable people, workers and businesses to make full use of these tools, and enhance their competitive advantage. It “will walk this journey” with Singaporeans as it has done for the past six decades, said Prime Minister Lawrence Wong.
Singapore will carry out a fresh review of its economic strategy, with committees formed to develop longer-term plans in five areas that include strengthening the country’s global competitiveness and improving its start-up ecosystem.
Singapore posted a year-on-year gross domestic product growth (GDP) of 4.3% in the second quarter of this year, following a 4.1% gain in the first three months – outperforming the Ministry of Trade and Industry’s forecast of 0% to 2% growth for the full year.
Analysis by an economist found the US tariffs may reduce Thailand's exports by 8.16 billion USD, and when factoring in the trade diversion effect, they could drop by 457 billion THB (14.14 billion USD) this year.
Laos has reaffirmed its strong commitment to protecting forests and enhancing climate change adaptation, calling for deeper regional cooperation to safeguard ecosystems and promote sustainable development.
The import restriction will remain in effect until further notice, depending on developments in disease prevention and control efforts in affected countries, according to the Philippine Department of Agriculture.
Addressing the event, Indonesian Ambassador Dr. Bebeb A.K.N. Djundjunan, who is now holding the ACAT rotating chairmanship, highlighted ASEAN’s message on a more united, resilient, inclusive, and sustainable association. He reviewed key achievements of the group, such as community building and expanded cooperation with global partners.
The Initiative for ASEAN Integration (IAI) has become a key mechanism in narrowing development gaps among member states, helping the CLMV fully implement the joint commitments and comprehensively participate in the bloc’s integration and community building processes.
Four other major Thai destinations - Phuket, Pattaya, Chiang Mai, and Hat Yai - also ranked among the region’s top cities for repeat visits, reflecting Thailand’s diversity and enduring appeal for travellers of all types.
In its Pre-Budget Statement 2026, the ministry stated that growth will be anchored by resilient domestic demand, particularly through private investment, stable employment, and income-enhancing measures such as targeted cash transfers and wage increases.
Singapore is at risk of chikungunya transmission as the number of reported cases this year has more than doubled compared to last year, the country’s Communicable Diseases Agency (CDA) has reported.
On August 11, major RoK outlets, including Yonhap News Agency, KBS, The Korea Herald, and The Korea Times, provided prominent coverage of the talks held the same day between General Secretary Lam and President Lee Jae Myung, during which both sides agreed to strengthen cooperation in economy, security, technology, and culture.
The meeting provided an opportunity to reaffirm both ASEAN member states' and partners’ commitment to strengthening cooperation and narrowing development gaps.
Thailand emits roughly 350 million tonnes of carbon dioxide equivalent annually, with the energy and industrial sectors accounting for more than 75% of this amount. Though this volume represents just 1% of global emissions, the Thai Government is eager to achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
The Malaysian government is undertaking a structured assessment to examine the role of nuclear power as a potential option for clean, stable, and competitive electricity within Malaysia’s future energy mix.
It aims to identify and honour digital technology initiatives, products, and solutions with practical applications; promote creativity in technology development; anticipate trends and development potential in digital technology; and recognise the role of digital technology in economic growth and enhancing quality of life for citizens in ASEAN countries.
Addressing the ceremony, Indonesian Ambassador Simon D.I. Soekamo, the rotating Chair of the ASEAN Committee in Cuba, highlighted the bloc's spirit of friendship and solidarity, and reaffirmed ASEAN's core values of peace, stability, and prosperity through cooperation and dialogue.
Vietnam’s pavilion notably displayed traditional crafts from the centuries-old lacquerware village of Ha Thai and Chu Dau ceramics. The atmosphere was further enriched by delegations wearing their countries’ traditional costumes, including the elegant ao dai and the graceful ao tu than of Vietnamese women.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
