Singapore's production sector predicted to remain gloomy in Q1
Singapore's manufacturing outlook may continue gloomy in the first quarter of 2023, after its manufacturing output shrank for a third consecutive month in December last year, said economists.
Singapore (VNA) - Singapore's manufacturing outlook may continue gloomy in the first quarter of 2023, after its manufacturing output shrank for a third consecutive month in December last year, said economists.
According to data released by the Economic Development Board (EDB) of Singapore, the industrial production in last December fell 3.1% compared to the same period of the previous year, making this the third consecutive month of decline.
Excluding biomedical manufacturing, Singapore’s output increased by 0.3% year-on-year.
Output for the chemicals, precision engineering and general manufacturing clusters also declined on a year-on-year basis at 9.5%, 4.1% and 2.8% respectively.
The electronics sector was one of two clusters that saw output growth in December, after five consecutive months of decline. However, most economists believe that the electronics industry's recovery may be temporary.
Selena Ling, OCBC Bank’s chief economist & head of treasury research & strategy, warned that Singapore’s industrial production may “stay in the doldrums” in the first quarter of 2023.
However, the Southeast Asian nation’s manufacturing activity will gradually stabilise in subsequent quarters to bring full-year 2🍰023 growth to 1.6%&n🌳bsp;year-on-year, she said./.
Malaysia Prime Minister Anwar Ibrahim will make an official visit to Singapore on January 30 at the invitation of Singapore counterpart Lee Hsien Loong.
Singaporean Prime Minister Lee Hsien Loong and his Malaysian counterpart Anwar Ibrahim on January 30 witnessed the signing of three bilateral cooperation agreements on the digital economy, green economy, personal data protection, and cyber security.
Based on latest data from Singapore’s Ministry of Trade and Industry and Industry (MTI), many economists have forecasted that the country’s inflation will remain high in 2023, despite signs of reduction from global price pressures.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
In Singapore (Photo: AFP) 
