Obstacles to economic development in developing countries

Illustrative photo Governments of many countries have implemented several policy solutions to overcome the disastrous effects of the pandemic and are struggling to restore their economies. In this effort, reforms and improvement of business environment are being considered as key solutions. Reopening economies Support solutions to restore the economy are divided into three phases. In the first phase the pandemic must be totally suppressed and controlled. In the second phase the economy must be reopened gradually, and in the third phase there must be a strong move to recover and build resilience within the economy. When the economy reopens again after a long period of lockdown, the solutions applied are usually the government's approach to a technology based model of Government-To-Business (G2B), to provide online public services to people and businesses. However, it is too early to assess the effectiveness of solutions for reopening the economy while the pandemic is still … [Read more...] about Economic resilience needed post pandemic

The pandemic and climate change have posed enormous challenges for the Mekong sub-region’s sustainable and inclusive development. Vietnam welcomes strong partnerships between countries in the Mekong sub-region and the US for sustainable development, especially in the Covid-19 fight and towards the establishment of the ASEAN Community. Overview of the online meeting. Source: MoFA Foreign Minister Bui Thanh Son gave the remarks at the second online Mekong-US Partnership Ministerial Meeting (MUSP MM) that was co-chaired by Cambodia’s Foreign Minister Prak Sokhonn and US Secretary of State Antony Blinken today [August 3]. According to Son, the pandemic and climate change have been urgent issues and challenges for the region’s sustainable and inclusive development, which requires determination and closer linkage between Mekong countries, ASEAN, and partners. In this context, Son called for a speedy roll-out of the vaccination program in ASEAN, while pushing for … [Read more...] about Vietnam welcomes US-Mekong relations for sustainable development

Foreign ministers of the five Mekong countries and the US participate in the second ministerial level Mekong-US Partnership (MUSP) meeting held on Tuesday. — VNA/VNS Photo HÀ NỘI — Vietnamese foreign minister Bùi Thanh Sơn has attended the second ministerial level Mekong-US Partnership (MUSP) held virtually on Tuesday. The meeting was chaired by Cambodian Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Prak Sokhon and US Secretary of State Antony Blinken. It is part of the ongoing ASEAN Foreign Ministers Meeting which opened on Monday. Sơn stressed Việt Nam puts great emphasis on cooperation between Mekong partner countries towards sustainable development. He also welcomed the contributions of MUSP in helping the Mekong member nations deal with the COVID-19 pandemic and in building the ASEAN Community. Sơn underlined four priority areas. These include speeding up COVID-19 vaccinations, accelerating vaccine production, and enhancing … [Read more...] about Mekong-US Partnership meeting stresses cooperation on sustainable development

A worker was supervising the construction process of a new polyethylene plant in Chandra Asri Petrochemical 's integrated petrochemical complex in Cilegon, Banten, on June 18, 2019 - Illustrative image (Source: Antara News) Jakarta (VNA) - Indonesia’s Chandra Asri Petrochemical (CAP) has announced that it had secured an investment of 1.7 billion USD for the second world-scale integrated petrochemical complex in Indonesia. CAP, Indonesia's largest integrated petrochemical company producing olefins and polyolefins, has selected Thai Oil Public Company Limited (Thaioil) as its chosen strategic investor, the company said in a press statement. The two enterprises have signed definitive agreements to proceed with a capital increase in CAP via a Pre-Emptive Rights Issue, to be filed with the Financial Services Authority of Indonesia (OJK). The investment in CAP will be made via Thaioil's designated subsidiary, which will act as the standby buyer to underwrite a … [Read more...] about Indonesia attracts 1.7 bln USD investment in world’s 2nd integrated petrochemical complex

VIR’s webinar last week pored over the status of the country’s stock market, and the prospects towards 2022 The year 2020 and the first half of 2021 were fraught with challenges as the pandemic put a damper on global markets and while shaken in the short term, Vietnam’s secular growth prospects remain solid in the eyes of international financiers. Le Anh Tuan, deputy CIO and head of Research at Dragon Capital said foreign investors are currently keener on passive investment strategies, particularly in the context of foreign ownership limits at listed companies. “Passive funds, including exchange-traded funds (ETFs), have generated a lot of buzz recently. ETFs are often a cheaper and more efficient alternative to other investment funds despite high volatility,” Tuan said. In the past eight months, foreign net withdrawal has exerted pressure on the whole market. Pham Hong Son, vice chairman of the State Securities Commission (SSC) said at VIR’s webinar on stock market … [Read more...] about Financiers feel the buzz for nation’s stock market future

H.E., Mr. Mevlüt Çavuşoğlum, the Foreign Minister of the Republic of Turkey. On the occasion of the Third Turkey-ASEAN Trilateral Meeting to be held on August 9, 2021, Việt Nam News introduces an article by H.E., Mr. Mevlüt Çavuşoğlum, the Foreign Minister of the Republic of Turkey. Asia, the cradle of some of the oldest civilisations, has again been gaining a pivotal role on the world scene. As home to the youngest populations and the most dynamic economies in the world, center of gravity of global economy has shifted towards Asia. We have a long history of relations and deep-rooted ties with Asian countries. We are proud of our Asian roots and our role to serve as a gateway to two major continents, Asia and Europe. Today, we aim to re-energise our cooperation with Asia through our Asia Anew Initiative launched in 2019. ASEAN has a central place in our foreign policy towards Asia. We established sectoral dialogue partnership with ASEAN in 2017. This helps us to further … [Read more...] about An Outlook for Turkey – ASEAN Relations