ASEAN Week: Stay updated on ASEAN news throughout this week (April 4-10, 2569).

This week's ASEAN Week (April 4-10, 2569) provides an update on the latest developments in Southeast Asia throughout the past week.

For ASEAN Week, "Finance and Banking" will cover the latest news and developments in the ASEAN region throughout this week, from April 4-10, 2569, including:

• Vietnam stumbled sharply at the start of the year, with GDP slowing to 7.83%, driven by energy pressures pushing inflation below the 10% growth target.
• Vietnam is aggressively expanding its network with 17 FTAs, injecting a 2% interest rate to empower local businesses to penetrate global markets.
• Crisis of confidence! Customers rush to withdraw money from a Cambodian bank after it limited withdrawals to $300 per day.
• "To Lam" becomes President of Vietnam, simultaneously leading the party and controlling both the party and the state fully, a model similar to China.
• Singapore is allocating $1 billion to measures to help businesses and citizens cope with the global energy crisis.
• ASEAN is losing confidence in the United States; a survey indicates relations are at risk of deteriorating under the Trump 2.0 era.
• Indonesia's international reserves fell to their lowest level in two years after the central bank rushed to support the rupiah.
• WRP, a Malaysian rubber glove manufacturer, is preparing to close its operations due to the impact of the Middle East conflict, which has driven costs up by more than 50%.

ASEAN is losing confidence in the United States; a survey indicates relations are at risk of deteriorating under the Trump 2.0 era.

A recent survey indicates that ASEAN's confidence in the United States has significantly declined due to concerns over trade policies and the unilateral stance of the Trump administration. Meanwhile, China has regained prominence in the region's perception, reflecting a shift in the balance of power in Southeast Asia. Many countries are beginning to view the US as a geopolitical risk that could impact future economic and security cooperation.

Vietnam

Vietnam stumbled sharply at the start of the year, with GDP slowing to 7.83%, driven by energy pressures pushing inflation below the 10% growth target.

Vietnam's economy grew by 7.83% in the first quarter of 2026, slowing from the previous quarter amid pressures from rising energy prices and accelerating inflation. This resulted in soaring production and transportation costs, impacting businesses and purchasing power. While exports continued to grow, imports outpaced them, leading to a trade deficit. However, FDI continued to expand, reflecting long-term confidence. The government is therefore accelerating economic stimulus measures and seeking new energy sources to boost full-year GDP to 10%.

Vietnam is aggressively expanding its network with 17 FTAs, injecting a 2% interest rate to empower local businesses to penetrate global markets.

Vietnam is moving forward with building a comprehensive FTA ecosystem to enhance business capabilities, implementing a 2% interest subsidy to reduce financing costs for entrepreneurs, especially SMEs, enabling them to access capital and expand into international markets. This policy aims to connect local businesses to global value chains and increase long-term competitiveness. At the same time, it may put pressure on Thai exporters in terms of both price and product standards, forcing Thailand to accelerate structural adjustments to maintain its competitiveness.

"To Lam" becomes President of Vietnam, simultaneously leading the party and controlling both the party and the state fully, a model similar to China.

Vietnam's appointment of To Lam as both party leader and president has resulted in a centralization of power similar to the Chinese model. The government aims to reform the bureaucracy, reduce bureaucratic procedures, and attract investment to boost the economy. However, the country still faces pressure from inflation, energy prices, and the high level of trade risk with the United States, which significantly impacts GDP. Managing the economy during this period will therefore be a crucial test for the new leader.

Cambodia

Crisis of confidence! Customers rush to withdraw money from a Cambodian bank after it limited withdrawals to $300 per day.

The mass withdrawals from banks in Cambodia, following a limit of $300 per day on withdrawals, reflect shaky confidence in the financial system. While experts believe this isn't a systemic crisis, rising non-performing loans and the lack of deposit protection exacerbate the vulnerability. Other banks have rushed to reaffirm their stability, while the central bank closely monitors the situation. This incident highlights the risk of a repeat of bank runs in the future if confidence isn't restored.

Singapore

Singapore is allocating $1 billion to measures to help businesses and citizens cope with the global energy crisis.

Singapore has introduced a US$1 billion aid package to mitigate the impact of soaring energy prices, including increased business tax rebates and cost-of-living subsidies for citizens. The economy is projected to slow due to inflationary pressures and rising energy costs, given the country's high dependence on energy imports. The government has therefore established a task force to monitor and manage risks and assess the long-term economic impact.

Indonesia

Indonesia's international reserves fell to their lowest level in two years after the central bank rushed to support the rupiah.

Indonesia's foreign exchange reserves continued to decline, reaching their lowest level in two years, as funds were used to manage the rupiah's value and pay off foreign debt. This comes amid pressures from rising oil import costs and global economic volatility. While reserves remain sufficient to cover imports for several months, the continued decline reflects the fragility of currency stability. However, the currency began to recover after the dollar weakened and tensions eased.

Malaysia

WRP, a Malaysian rubber glove manufacturer, is preparing to close its operations due to the impact of the Middle East conflict, which has driven costs up by more than 50%.

WRP, a Malaysian rubber glove manufacturer, is preparing to cease operations after raw material costs surged by more than 50% due to the energy and petrochemical crisis impacted by the war in the Middle East. Shortages of raw materials and tighter payment terms have added financial pressure. The global rubber glove industry is affected by these higher costs, which could impact global supply, as Malaysia is a major producer in this industry.