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Thailand’s economy is projected to increase by 3.5 per cent in 2017 and 3.6 percent in 2018 respectively, according to Asian Development Bank (ADB) report.
Growth projections for Southeast Asia are expected to remain at 4.8 per cent in 2017 and 5 per cent in 2018, with accelerating growth for Malaysia, the Philippines, and Singapore.
Meanwhile, Vietnam’s economy is expected to improve from 6.5 per cent in 2017 to 6.7 per cent in 2018. The ADB also forecasts Lao GDP growth for 2017 at 6.8 per cent, which is lower than the government’s projected growth of 7 per cent. The ADB says the key drivers of growth in Lao economy will come from infrastructure development projects such as hydropower development projects and special and specific economic zones development.
In a supplement to its Asian Development Outlook 2017 report, ADB upgraded its growth outlook in the Asia region from 5.7 per cent to 5.9 per cent in 2017 and from 5.7 per cent to 5.8 per cent for 2018.
ADB Chief Economist Yasuyuki Sawada said developing Asia is off to a good start this year with improved exports pushing growth prospects for the rest of 2017.
“Despite lingering uncertainties surrounding the strength of the global recovery, we feel that the region’s economies are well-placed to face potential shocks,” Sawada said.
An increase in net exports and domestic consumption improved growth prospects in China, the world’s second largest economy, now expected to expand by 6.7 per cent in 2017 and 6.4 per cent in 2018.
The outlook for Central Asia this year has improved as stronger domestic demand and exports in some countries have fueled an unexpected recovery in the sub-region. – Vientiane Times

BT400M LINE FOR ALIS 

Elleair International (Thailand) yesterday announced that it had invested Bt400 million in a new production line for Alis sanitary napkins, the first outsode Japan, at its existing plant in Amata City industrial estate in Rayong. The facility currently produces Goon baby diapers. 
President Hiroyuki Fujita said the company expected its Alis sanitary napkins to become a top three brand in the Thai market, controlling at least 10 per cent market share. The Thai base will also be the company’s production hub for the export of Alis products to other Asean markets. Current usage of sanitary napkins in Thailand is about 140 million pieces a month with sales volume growing at 5 per cent per annum. 

AETNA TAKES BUPA THAILAND 

Aetna Inc, a global supplier of healthcare products, has acquired the Bupa Group’s Thai business, Bupa Thailand, for an undisclosed sum, according to the company’s statement yesterday. 
The acquisition will significantly increase Aetna’s presence in Asia, and is key to the company’s strategy to go ‘broader and deeper’ into the health care markets in the region. 
Aetna’s expertise, coupled with Bupa Thailand’s in-depth knowledge of the local health care system and culture, will ultimately offer customers in Thailand broader choices and continue to build on Bupa Thailand’s first-rate service.
“This is a significant and exciting expansion for Aetna in Asia, and clearly demonstrates our commitment to investment and growth in the region and globally,” said Richard di Benedetto, President of Aetna International. 
Bupa Thailand was established over 30 years ago, and is Thailand’s leading specialist health insurer, with more than 300,000 members and a network of over 400 health care providers in the country. 
Bupa Thailand will continue to operate under the Bupa brand for a short time before rebranding as Aetna.