Component shortages continue to strain production in Southeast Asia as China adopts zero COVID policy and Russia-Ukraine war drags on.
Thailand reports 10% on-year decline in car exports in March
According to the Bangkok Post, Thailand's car exports in March declined by 10.2% on-year to around 94,000 units. The Federation of Thai Industries (FTI) said the decline was mainly caused by shortages of semiconductors and components. FTI said supply of the materials could grow even tighter as the Russia-Ukraine war continues.
Vietnamese firms see production disrupted by shipping delays
According to Tuoi Tre News, some Vietnamese firms are facing delays of materials imports from China in the past three months. Shipments normally take around two months to arrive in Vietnam but following recent COVID lockdowns in China, delivery schedules remain unclear.
Acronis to invest US$50 million in Vietnam in the years to come
According to Tech in Asia, Acronis, a Singapore- and Switzerland-based cybersecurity unicorn, plans to invest US$50 million in setting up offices and a R&D center in Vietnam over the next few years. Acronis raised US$250 million in funding last year.
Indonesia sees soaring commodity prices
According to the Jakarta Post, Indonesia's manufacturing sector has been under great pressure since the start of the Russia-Ukraine war as import prices continue rising. Prices of commodities including cereal, oil, gas, steel, and coal have soared and economists said that the increasing costs will transfer onto customers in the near future.
