KUALA LUMPUR — New economic data shows that foreign remittances sent to Asian countries hit US$300 billion for the first time last year, underscoring the ever-rising importance overseas work for the region’s laborers despite world-beating economic growth rates. Freshly released World Bank statistics put the total amount of remittances for 2018 to countries in South Asia, Central Asia, Southeast Asia, East Asia and the Pacific at $299.6 billion, a sum that does not include what are believed to be substantial informal flows of money sent home by regional migrants. Globally and in Asia, remittance figures are growing year by year, despite heady 6-7% gross domestic product (GDP) growth in countries such as the Philippines, a nation which has around 10 million of its citizens working abroad across various vocations. The 2018 amount of regional remittances was around $25 billion greater than in 2017 and $125 billion more than in 2008. Worldwide, remittance flows now account for more than foreign direct investment to middle and low income countries excluding China, the World Bank data shows.
JAKARTA — Governments across Asia are seeking to bring millions of informal workers into regulated employment, and stem a major economic drag on the world’s fastest-growing region. Bangladesh, Indonesia and China have taken steps this month that could help formalize employment for a vast pool of workers that are struggling on the margins of their economies, many as self-employed merchants or agricultural laborers. The World Bank estimates that informal workers make up 47% of jobs in the East Asia and Pacific region, with the figure rising to between 60% and 80% in lower income countries such as Myanmar and Laos. The government in Dhaka last week signed a $250 million deal with the institution aimed at supporting efforts “to create large-scale, better-paid and inclusive jobs.”
JAKARTA — Myanmar attracted the most foreign direct investment of any of the world’s so-called “least developed countries” in 2017, even as the nation’s reputation plummeted over its forced expulsion of tens of thousands of Rohingya Muslims. The $4.3 billion worth of realized FDI that went into the resource-rich Southeast Asian country put it on top of the global economy’s bottom division of 47 nations, according to a report by the United Nations Conference on Trade and Development. Myanmar edged out second-place Ethiopia, with Asian neighbors Cambodia and Bangladesh taking third and fifth spots. Even so the nations remain far behind Association of Southeast Asian Nations peers such as Indonesia and Vietnam.
SINGAPORE — Reacting to the U.S. move last week to recognize Jerusalem as Israel’s capital, Muslim-majority countries in Asia have joined fresh calls for wider recognition of an independent Palestine with East Jerusalem as its capital. Speaking in Istanbul on Wednesday, Indonesian President Joko Widodo told the 56 other members of the Organization of Islamic Cooperation that the group “can serve as a motor” to persuade countries that have not recognized Palestine “to do so immediately.” The Palestinian mission to the United Nations lists 137 countries as recognizing Palestine. The level of recognition varies among those countries, as Palestine has not been granted full U.N. membership. Though some OIC members recognize Israel — including summit host Turkey — Asian countries such as Pakistan, Indonesia, Bangladesh and Malaysia do not have diplomatic relations with Israel.
JAKARTA — Thousands of Indonesian Muslims chanting “Allahu Akbar” protested in central Jakarta on Wednesday at Burma’s treatment of its 1.1 million Rohingya minority. Around 146,000 Rohingya have fled Burma military counter-insurgency operations into Bangladesh over the past two weeks. The army’s reprisals came after Rohingya militants stormed Burma army and police posts in August. Wednesday’s protest was the fourth and biggest pro-Rohingya demonstration over the past week in the Indonesian capital, the commercial centre of the world’s biggest Muslim-majority country. The event was peaceful, though toward the end several dozen demonstrators tried to push through police barricades and razor-wire set up about 200 yards from the Burmese embassy. Overhead swung an effigy of the Buddhist monk Wirathu, leader of an anti-Islamic movement in Burma that has been blamed for stirring anti-Rohingya feeling in the predominantly Buddhist country.