BANGKOK -- The Thai government has decided to keep the kingdom under a state of coronavirus emergency until July 31 despite having recorded no local transmission for over a month.

Indonesia is pressing ahead with plans to build a new capital as billions of dollars in private sector investment is seen as key to reviving an economy battered by the coronavirus pandemic, a senior minister said.

President Joko “Jokowi” Widodo announced on Tuesday that seven foreign companies had confirmed plans to relocate production facilities to Indonesia, mostly from China, an encouraging signal for the country’s investment climate amid the pandemic.

Sri Trang Gloves, Thailand's largest manufacturer of medical gloves, is raising funds to increase production capacity and meet the substantial increase in demand for its products due to the pandemic.

Indonesia's state-owned mining holding company will acquire a 20% stake in the local subsidiary of Brazilian mining giant Vale, operator of the world's largest nickel mine on the island of Sulawesi.

Bangkok-based fintech startup Synqa Holdings is looking to capture a slice of growing demand for cashless transactions in Asia by taking advantage of $80 million it recently raised. Synqa, formerly known as Omise Holdings, completed its Series C funding led by Siam Commercial Bank's venture capital subsidiary SCB 10X and Tokyo-listed asset manager Sparx Group, Nikkei reported.

Thailand's exports of farm products to ASEAN (Association of Southeast Asian Nations) countries in the first quarter jumped 5.1 percent from the same period of last year, according to the Ministry of Agriculture and Cooperatives on Wednesday.

The Bank of Indonesia has announced a 25 basis point reduction in its main rate to 4.25%. It also revised down its gross domestic product growth forecasts from 2.3% prior to a range from 0.9% to 1.9% for this year. Indonesia therefore intensifies its efforts to support the economy and face the crisis.

As the epidemic spread to China, many feared the consequences for other Asian countries but severe restrictions on traffic, clear messages from governments and the involvement of experts have, at least so far, helped to contain the virus. The Guardian, in a long and detailed article, delves into the coronavirus situation in Southeast Asia, with a look to the future.

According to some of the most important Thai business associations, Thailand should participate in talks for the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. This will allow the country to have access to more information about the agreement, so that it can adapt to the competition that will ensue, without necessarily having to join the agreement.

The undersecretary Manlio Di Stefano had a meeting with Indonesia's deputy foreign minister Mahendra Siregar. The meeting made it possible to take stock of the excellent state of bilateral relations and revealed the common hope of further strengthening relations, especially in the defense, agriculture, environment and energy sectors.

Indonesia is in talks with the U.S. government over the possible relocation of American companies operating in China to the archipelago, as businesses and governments worldwide look at ways to diversify production in response to supply chain disruptions caused by the coronavirus.

Indonesia has been considered as the de facto leader of the ASEAN based on historical assumptions; however, the current COVID-19 pandemic has exposed Indonesia’s weakness regarding its role as a regional leader. On the other hand, Vietnam has been making great strides in projecting itself as an effective leader, particularly with its critical and long-standing engagements against and with China and its proactive governance in handling the COVID-19 pandemic.

While the government of Indonesia struggles to contain the public health side of the COVID-19 crisis, the economic hit from the pandemic is starting to bite in earnest. The government now expects GDP growth to slow to between 2.3 and .4 percent for the year – and even this may be optimistic.

Panasonic will close an appliance factory near Bangkok and consolidate production at a larger facility in Vietnam. During the trade dispute between Washington and Beijing, many companies had initially moved production from China to Thailand. Now, however, it seems that they are moving towards more competitive countries, such as Vietnam and Indonesia.

Indonesia and Singapore currently dominate the venture capital (VC) fundraising in Southeast Asia, despite a slower pace of capital raising in the first quarter this year. Indonesia raised US$161 million in the first quarter while Singapore leads with $865 million over the same period, according to a recent report by Deal Street Asia.

In the context of the health crisis and the slowdown in travel, Thai Airways suffered significant losses that left it on the verge of bankruptcy. As reported by the Financial Times, it appears that the government is intent on intervening with a plan to save the company and revitalize it.