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Jakarta (VNA) – Members of the Indonesian House of Representatives (DPR) are discussing candidates for the supervisory board of the Sovereign Wealth Fund (SWF), representative of the House’s Commission XI Amir Uskara said on January 19. Earlier, President Joko Widodo sent a letter to the parliament, proposing the names to the DPR leaders. The President’s letter on the SWF investment authority board is still in possession of DPR leaders, who is going to hold an official meeting about the letter itself, he said, adding the formation of the SWF authority board will be discussed in the consultative assembly while the President’s proposed names will be considered carefully. The SWF is established in the context that the Indonesian economy has been battered by the COVID-19 pandemic. It is planned to operate early this year, and is expected to help the Southeast Asian country recover its economy after the outbreak is controlled. President Widodo earlier said that … [Read more...] about Indonesian parliament discusses candidates overseeing sovereign wealth fund

At Trang Airport, there have been quite small numbers of passengers. However, strict COVID-19 prevention measures have still been in place. The Trang Airport Director said the new wave of COVID-19 infections has led many provinces to control passenger numbers in and out of the region, and people are asked to refrain from traveling between provinces. As a result, the number of passengers using Trang airport has decreased. … [Read more...] about VIETNAM BUSINESS NEWS JANUARY 20

For example, by imposing business conditions or other restrictions on new businesses, the state agency can reduce the competition faced by SOEs. Policies and institutional structures that constrain competition are not in the national interest. While constraints to competition can make individual SOEs more profitable, the resulting lack of competition stifles innovation and productivity growth. “This hurts consumers because of higher costs and less innovation and variety; hurts workers because reduced productivity growth means reduced growth in wages; hurts other investors whose firms are being constrained, and hurts the government because of increased opportunity for corruption,” Mallon explained. … [Read more...] about Reshuffle underway to further stimulate revival of economy

Most recently, Hanoi’s Department of Industry and Trade has warned citizens of signs of fraud at electronic payment wallet Payasian. Since Payasian’s e-wallet has not been licensed by the authorities, the money put on these accounts cannot be used legally in the country. Additionally, Payasian JSC has been under suspicion of illegally raising capital and acting as an MLM. The VCA has yet to issue an MLM registration certificate to Payasian JSC. … [Read more...] about MLM enterprises dodge licencing by setting up new entities

PM Phuc also asked for increased education in terms of politics, thought, tradition, revolutionary morality, and occupational skills for intelligence officers, as well as the building of a contingent of intelligence officers who have firm political mettle, steadfastness, and absolute loyalty to the Party, Fatherland, and people, are ready to sacrifice for the sake of the Party and nation’s revolutionary cause, and have a sharp vision and outstanding qualifications to fulfill both short- and long-term tasks. … [Read more...] about VIETNAM NEWS JANUARY 20