Japan finance minister seeks record budget to boost welfare, defense spendingThe Saigon Times Daily Japan's Deputy Prime Minister and Finance Minister Taro Aso speaks to reporters in Tokyo, Japan March 12, 2018 – PHOTO: REUTERS TOKYO (REUTERS) - Japanese Finance Minister Taro Aso said on Tuesday initial budget requests for fiscal 2019 would likely reach a record high around 102 trillion yen (US$918 billion), given an ageing population and defense challenges from China and North Korea. The finance ministry was still in the process of finalizing the figure for next fiscal year starting in April, Aso told reporters. An increase in planned welfare spending and a request from the defense ministry to increase its budget to a record were pushing up overall expected spending, he said. "An expected increase in welfare spending is a big factor behind next fiscal year's budget request," Aso said. "We have to figure out how to accommodate the defense ministry. There are also items … [Read more...] about Japan finance minister seeks record budget to boost welfare, defense spending
Deputy finance minister
Finance ministers, central bank governors prioritise issues
Heng Swee Keat, Singaporean finance minister, and Dong Yeon Kim, deputy prime minister and minister of strategy and finance of South Korea (middle, front row), at the joint press conference of the 21st ASEAN+3 Finance Ministers and Central Bank Governors Meeting. - VNS Photo Hoang Son MANILA – Finance ministers and central bank governors from ASEAN+3 economies reaffirmed their commitment to promote regional financial co-operation, during the annual meeting of the Asian Development Bank (ADB) in Manila on Friday. The senior officials of the ASEAN+3 economies also expressed their commitment to further support an open and rules-based multilateral trade and investment system, which has provided robust economic growth in the region,” Heng Swee Keat, Singaporean finance minister, said at the joint press conference of the 21st ASEAN+3 Finance Ministers and Central Bank Governors Meeting. He also praised the successful completion of the first periodic review of the Chiang Mai … [Read more...] about Finance ministers, central bank governors prioritise issues
Korean investors join efforts to develop RoK-VN ties: Finance Minister
Minister of Finance Dinh Tien Dung at the investment promotion conference in Seoul (Photo: VNA) Seoul (VNA) – The Republic of Korea (RoK) investors’ participation in Vietnamese market shows their responsibility for promoting Vietnam-RoK relations, said Minister of Finance Dinh Tien Dung. He made the statement while chairing an investment promotion conference in Seoul on April 18, which drew the attendance of more than 400 RoK investors and representatives from Financial Services Commission, Korea Financial Investment Association, Korea Stock Exchange, investment funds, and leading banks and insurance groups. The RoK is currently the largest foreign investor in Vietnam with total registered capital of 59 billion USD and the Vietnamese Government lauded the presence of RoK leading businesses in the country in the past three decades, Dung said. He stated that Vietnam-RoK relationship is entering a new phase thanks to the Moon Jae-in administration’s New Southern … [Read more...] about Korean investors join efforts to develop RoK-VN ties: Finance Minister
ASEAN Finance Ministers’ Meeting opens in Singapore
Scene at the 22nd ASEAN Finance Ministers Meeting in Singapore (Photo: VNA) Singapore, (VNA) – ASEAN Finance Ministers began their 22nd meeting in Singapore on April 6. The meeting was attended by representatives from the ASEAN Secretariat, International Monetary Fund, World Bank, Asian Development Bank, ASEAN +3 and Macroeconomic Research Office. The Vietnamese delegation to the event was led by Deputy Finance Minister Tran Xuan Ha. Chairing the function, Singaporean Finance Minister Heng Swee Keat said in his opening remarks that the ministers meet at a time of optimism for the regional economies. He quoted the International Monetary Fund data which show the ASEAN economy grew by 5.1 percent in 2017 and is expected to outstrip most other regions in 2018. However, the minister warned that the region is still facing challenges, including rising protectionism and trade tensions, which without good management can affect the bloc’s growth. He said in the context, … [Read more...] about ASEAN Finance Ministers’ Meeting opens in Singapore
Japan finance minister Aso says must avoid bilateral FTA with US
Japan's Deputy Prime Minister and Finance Minister Taro Aso speaks to reporters in Tokyo, Japan March 12, 2018. Photo by Reuters/Toru Hanai Fears of trade war continue to increase. Finance Minister Taro Aso said on Friday that Japan must avoid entering a free trade agreement (FTA) with the United States to rectify trade imbalances. Fears of a trade war have mounted this month as U.S. President Donald Trump’s administration imposed tariffs on steel and aluminum imports and unveiled plans to slap tariffs on up to $60 billion of imports from China. Japan and the United States are at loggerheads on how to frame future trade talks, with Tokyo resisting U.S. calls to enter negotiations for a bilateral FTA that could force Japan to open its highly protected agricultural markets. Aso, who leads Tokyo’s delegation for U.S.-Japan economic dialogue, said Japan supports the global trend of promoting multilateral trade frameworks. The recent signing of the Trans-Pacific … [Read more...] about Japan finance minister Aso says must avoid bilateral FTA with US