Coalition of finance ministers for climate action

Coordinating Minister for Economic Affairs Airlangga Hartarto (Photo: republika.co.id) Jakarta (VNA) – Indonesia ’s Coordinating Minister for Economic Affairs Airlangga Hartarto announced on August 11 that the government is preparing to stop allocating the budget for COVID-19 handling and national economic recovery ( PC-PEN ) from the end of this year. According to him, based on Law No. 2 of 2020 concerning State Finance and Financial System Stability for COVID-19 Handling Efforts, the state budget deficit has been allowed to exceed 3 percent of the national gross domestic product (GDP) for three years till 2022 The government will not allocate a budget for COVID-19 handling and national economic recovery, but this does not mean that it will not continue its programmes in the health and social protection sectors, the minister clarified, adding that the fund will entirely be returned to each sector like before the COVID-19 broke out. Earlier, Finance Minister Sri … [Read more...] about Indonesia announces end of pandemic handling fund

Finance Minister Sri Mulyani Indrawati (middle) giving a speech after a plenary cabinet session regarding the Financial Note and the 2023 Draft State Budget at the Presidential Palace Complex in Jakarta on August 8. (Photo: ANTARA) Jakarta (VNA) – Indonesia n Minister of Finance Sri Mulyani has said that the country's state budget for 2022 is better than the previous year. This is reflected in the financial debt and budget deficit which are projected at below 4% of the gross domestic product ( GDP ) by the end of this year, she said at a government meeting on the state budget on August 11. Mulyani said she expects the budget deficit can be at 3.9% of GDP compared to the previous forecast of 4.5%. state budget that is beginning to improve./. VNA … [Read more...] about Indonesia’s state budget in 2022 exceeds expectations

Delegates discuss issues related to sustainable development at the ‘Good for Business, Good for Planet’ seminar held in HCM City on Wednesday. — VNS Photo Shifting to green growth would help businesses increase their competitiveness and catch up with trends in the domestic and foreign markets, delegates told a seminar in HCM City on Wednesday. As one of the world's most vulnerable countries to climate change, Viet Nam has made multi-dimensional efforts to drive the whole nation towards its collective goal of reaching net zero greenhouse gasses emissions targets, achieving sustainable development, and contributing to tackle the global climate change crisis, they said. Speaking at the ‘Good for Business, Good for Planet’ seminar held by Nhip Cau Dau Tu magazine, Tim Evans, CEO of HSBC Vietnam, said, “The green journey that Viet Nam has embarked on is bringing both opportunities and challenges. Those businesses who get onboard early can capture major opportunities and build a … [Read more...] about Going green gives businesses a competitive advantage

The CF for the 2022-2026 period was signed by Minister of Planning and Investment Nguyen Chi Dung, as assigned by Prime Minister Pham Minh Chinh, and Tamesis in Hanoi on August 11. According to Tamesis, there are four priority development outcomes that the two sides have identified - social services; economic transformation; climate change, resilience and sustainability; governance and access to justice. The purpose of the cooperation framework is for the U.N. to be ready to support all of the changing development needs and challenges of Vietnam, she stressed. The signing of the deal means the government of Vietnam and the U.N. are committed to strengthening their partnership together, she said, adding that this is just a starting point. “We have the full period of this year to work together but it's urgent that we all take action in this partnership together because there's so many challenges around the world. And we need to be able to show results for the government to feel … [Read more...] about U.N. ready to support Vietnam in responding to new challenges: Coordinator

According to the Ministry of Finance, the disbursement of the state budget capital as of the end of July stood at nearly $8.1 billion, accounting for 34.47 per cent of the yearly plan and a slight on-year reduction. Of this, one centrally-run agency and 11 localities reported disbursement at more than 50 per cent, 17 ministries and agencies have reported less than 10 per cent, and the remaining met the national average. Some major infrastructure projects are delayed and costs are only going to go up in that case, Le Toan Specifically, in Ho Chi Minh City, the disbursement of public investment in the first seven months accounted for about 15 per cent of the total allocated capital or almost $1.4 billion. This figure includes $108 million from the central budget and $1.28 billion from local funds. Many important works in the city have yet to expense anything, including one project for green traffic development, a water improvement initiative in the Tau Hu-Ben Nghe-Doi-Te … [Read more...] about Direction for disbursement tightened after mixed results

As one of the leading international schools in Vietnam, ISHCMC has a rich 28-year history of student achievement. The class of 2022 was no exception, with one student, Seoyeon Hong, achieving a perfect score of 45 points in the IB Diploma. Mike Hebert, ISHCMC director of admissions and market growth, said: "The result puts her in the 99.7th percentile among students studying the IB Diploma Program globally. That is a true testament to the education students at ISHCMC are receiving and one that the whole community is proud of." Seoyeon Hong, who achieved a perfect score. Photo courtesy of ISHCMC Another student that has flourished under ISHCMC's educational environment is Junsoo Chung. Junsoo Chung joined ISHCMC in grade 2. Junsoo recounts: "I arrived at school with no English language. On my first day, a classmate shared with me a copy of "Star Wars," that book helped me kickstart my English skills." Junsoo is one of many recent graduates from ISHCMC’s class of … [Read more...] about ISHCMC graduates find path to flourish