However, it is myopic, unsustainable, and potentially counterproductive. The current lack of co-ordinated action at both regional and global level is not only concerning, but also surprising. If the virus is not eradicated in every country, every country will lose because sooner or later the disease will reappear and thus continues the prolonged economic meltdown. An economic crisis caused by a virus that ignores borders cannot be tackled successfully like this. … [Read more...] about From containment to recovery: rescuing the ASEAN from crisis
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Frank Bochmann is seen in a photo he provided Tuoi Tre News. Saebel: Vietnam’s tourism sector has been tragically affected by the outbreak of COVID-19. Airlines, hotels, restaurants, laundry facilities, amusement parks, transport companies, tour operators, and homestay owners have all seen their business come to a standstill. The loss of revenue and livelihoods for Vietnamese employees and entrepreneurs alike in all spheres is devastating and the real effects will only be seen as savings and cash funds dry up. … [Read more...] about How should Vietnam prepare for post-pandemic tourism recovery?
A worker wearing protective clothing digs a grave for a coronavirus victim at the Caju cemetery in Rio de Janeiro, Brazil on May 28, 2020. (Photo: AFP/Carl de Souza) The epicenter of the South American coronavirus outbreak, Brazil saw 1,124 deaths in 24 hours, the Ministry of Health said. … [Read more...] about Brazil COVID-19 death toll hits 27,878, surpassing hard-hit Spain
The adjustment of socio-economic targets is a big and unprecedented issue, because the targets set in the NA’s Resolution are concretised from the Resolution of the Party Central Committee. On the basis of the Government’s proposal, the decision on the adjustment of growth targets will be made by the competent levels, with the current political and legal bases taken into account. According to economic experts, the adjustment of GDP growth target and relevant macro targets in accordance with the new developments in the domestic and international socio-economic situations will create favourable conditions for the Government in its management work, towards realising the dual goal of successfully combating the pandemic and reviving the economy after the disease. … [Read more...] about BUSINESS NEWS HEADLINES MAY 30
Hanoi (VNA) - The Philippine government is eyeing a stimulus package worth 846 billion pesos (16.7 billion USD) to enable a full economic recovery from the COVID-19 pandemic, according to Finance Secretary Carlos Dominguez. The stimulus package, which is waiting for Congress' approval, would include a cut in corporate income tax and modernisation of the country's fiscal incentive systems, Dominguez said. Local businesses have urged lawmakers to pass these reforms early so that small, medium and large companies can resume their operation and recover from the public health crisis. The Philippine tax authority said the country's total tax revenue in the first four months of 2020 dropped sharply to 527.41 billion pesos (22.6 million USD), or 25.4 percent below last year's collection over the same period. Despite the decreased revenue, Dominguez said the Philippines remains "financially able" to meet the unexpected challenges of the pandemic. The country also has practiced fiscal … [Read more...] about Philippines considers 16.7-billion-USD stimulus package