ASEAN Week covers ASEAN news throughout this week (August 30 – September 5, 2569).

This week's ASEAN Week (August 30 – September 5, 2569) provides an update on the latest developments in Southeast Asia over the past week.

For ASEAN Week, "Finance and Banking" will cover the latest news and developments in the ASEAN region throughout this week, from August 30 to September 5, 2569, including:

• Kasikornbank (KBank) establishes its presence in Indonesia, expanding into the ASEAN market to enhance the capabilities of both Thai and foreign businesses.
• An Indonesian court has overturned a law criminalizing insult to the government, citing infringement on freedom of expression.
• Singapore is investing S$220 million over three years to boost Fintech and AI, aiming to become a leading financial hub.
• Singapore is moving forward with stablecoin regulations, prohibiting interest payments and opening the door for foreign issuers to seek certification.
• Vietnam's trade deficit narrowed to $113 million, the lowest in nine months, while inflation accelerated to 4.89%.
• Thailand and Singapore set a long-term ASEAN agenda, pushing energy, AI, and food sectors, assuming consecutive chairmanship from 2570-2571.
• The Central Bank of Malaysia kept interest rates unchanged at 2.75%, signaling that it is monitoring inflation stemming from the conflict in the Middle East.
• Vietnam is overhauling four trade laws and restructuring its bureaucracy to adapt to the digital age.
• "To Lam" embarks on a tour of Russia, France, the United States, and Canada to strengthen relations and mitigate trade risks.

Kasikornbank (KBank) establishes its presence in Indonesia, expanding into the ASEAN market to enhance the capabilities of both Thai and foreign businesses.

Kasikornbank (KBank) officially launched KBank Indonesia in Jakarta, moving forward in its pursuit of becoming a regional bank. The bank aims to connect trade and investment opportunities between Thailand and Indonesia, while expanding its business network in ASEAN, amidst the continuously growing Indonesian economy.

An Indonesian court has overturned a law criminalizing insult to the government, citing infringement on freedom of expression.

The Indonesian Constitutional Court overturned Articles 240 and 241, which criminalized insults against the government and state institutions, less than eight months after their enforcement. The court ruled that the laws allowed for discretionary power by officials and could infringe upon freedom of expression. Police and prosecutors can no longer use these articles to prosecute offenders.

Singapore is investing S$220 million over three years to boost Fintech and AI, aiming to become a leading financial hub.

Singapore is set to allocate S$220 million over three years to accelerate the development of Fintech and future technologies, particularly AI, and to support at least 1,000 internships to upgrade human resources and capabilities in the financial sector amidst competition from global financial hubs.

Singapore is moving forward with stablecoin regulations, prohibiting interest payments and opening the door for foreign issuers to seek certification.

Singapore is seeking public comment on its latest stablecoin regulatory framework. The framework requires issuers to undergo stress testing, develop a systematic recovery and liquidation plan, and prohibits interest payments to holders. It also allows foreign stablecoin issuers to apply for MAS certification if their country of origin has comparable regulatory standards to Singapore's.

Vietnam's trade deficit narrowed to $113 million, the lowest in nine months, while inflation accelerated to 4.89%.

Vietnam's trade deficit narrowed to just $113 million in August, driven by a 26% increase in exports despite a 38% increase in imports. Meanwhile, inflation accelerated to 4.89%, higher than expected, due to high transportation, service, and construction costs. The government is accelerating efforts to increase domestic production to reduce reliance on raw materials and components from China.

Thailand and Singapore set a long-term ASEAN agenda, pushing energy, AI, and food sectors, assuming consecutive chairmanship from 2570-2571.

Thailand and Singapore have agreed to develop a multi-year agenda for ASEAN prior to assuming the ASEAN chairmanship in 2570 and 2571. The agenda focuses on promoting cooperation in areas such as energy, food security, the digital economy and AI, international payments, and regional connectivity to strengthen and enhance ASEAN's competitiveness.

The Central Bank of Malaysia kept interest rates unchanged at 2.75%, signaling that it is monitoring inflation stemming from the conflict in the Middle East.

The Central Bank of Malaysia (BNM) decided to keep its policy interest rate at 2.75% for the sixth consecutive time, citing that inflation remains under control and the economy continues to expand well driven by AI investment and household spending, despite ongoing risks from conflicts in the Middle East and global economic uncertainty.

Vietnam is overhauling four trade laws and restructuring its bureaucracy to adapt to the digital age.

Vietnam is moving forward with amendments to four economic laws, aiming to reduce bureaucratic procedures and business restrictions, decentralize power to local authorities, and enhance competition regulation, digital platforms, and consumer data protection. The goal is to create a transparent and fair investment environment to support the growth of the digital economy and attract foreign investors.

"To Lam" embarks on a tour of Russia, France, the United States, and Canada to strengthen relations and mitigate trade risks.

Vietnamese leader To Lam is preparing for a series of visits to Russia, France, the United States, and Canada in September to strengthen ties with major powers and key allies amid trade uncertainties pressuring an export-dependent economy. The schedule has not yet been officially announced and is subject to change.

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