Stable economic growth

Bangkok (VNA) - The Thai government is preparing to introduce a fresh economic stimulus package after the second largest economy in Southeast Asia recorded a five-year low in growth last year and faces a possible contraction in the first quarter of this year. Finance Minister Uttama Savanayana, on a trade delegation to Japan, said the ministry is preparing a new round of economic stimulus covering tourism, consumption and investment to be proposed for the cabinet's approval by the middle of March for implementation in April, the Bangkok Post reported. The tourism sector employs millions and has been ravaged by the outbreak of the acute respiratory disease caused by the novel coronavirus (COVID-19), he said. Tourism spending needs to continue, particularly through the Taste, Shop, Spend scheme, to entice people to travel more in Thailand, he said, adding the fourth phase of the Taste, Shop, Spend scheme needs to be potent enough to lure consumers to spend more while travelling. … [Read more...] about Thailand to launch new economic stimulus package

“The epidemic is an opportunity for Vietnam to look at its strong points and weak points, and to accelerate the restructuring process,” Minister of Planning and Investment Nguyen Chi Dung said during a recent interview with zing.vn. “It is time for Vietnam to built an economy more independent and resilient to adapt to changes,” Dung stressed. … [Read more...] about COVID-19 highlights need for economic restructuring

Jakarta (VNA) – Indonesia's foreign debt was recorded at 404.3 billion USD at the end of the fourth quarter last year, comprising public debt (government and central bank) of 202.9 billion USD, and private debt, including state-owned enterprises, of 201.4 billion USD. Indonesia’s foreign debt decelerated to 7.7 percent year-on-year (yoy), from 10.4 percent yoy in the previous quarter, according to the Bank Indonesia (BI). The government’s foreign debt totalled 199.9 billion USD in the fourth quarter of 2019, up 10.3 percent yoy. The growth was supported by an influx of foreign capital to the domestic government securities market and the issuance of dual currency global bonds, specifically in the Euro and US dollar. These conditions mirrored solid investor confidence in Indonesia’s economic outlook and attractive financial markets, as well as less uncertainty in global financial markets. The largest portion of the government’s foreign debt was directed … [Read more...] about Indonesia’s foreign debt growth slows in Q4 last year

On Wednesday in Strasbourg, France, the European Parliament (EP) gave its consent to the ratification of the EU-Viet Nam Free Trade Agreement (EVFTA) and EU-Viet Nam Investment Protection Agreement (EVIPA), which EP member Geert Bourgeois described ‘the most comprehensive and ambitious free trade agreements that the EU has signed with a developing country for the first time’. … [Read more...] about BUSINESS NEWS HEADLINES FEB.18

Hanoi (VNA) – A book presenting assessments of Vietnam’s economy in 2018 debuted at the National Economics University (NEU) in Hanoi on March 25. The book was launched during a national symposium on Vietnamese economy in 2018 and prospects for 2019, with the participation of many domestic and international scientists and economic experts. According to one of the authors, Assoc. Prof. Dr To Trung Thanh, the publication delivers the viewpoints of NEU experts on economic issues throughout the year, serving as a useful reference book for its readers and especially policymakers. The book features assessments on the development of the Vietnamese economy in 2018 and its prospects for 2019, as well as analysis on the country’s fiscal policy (including budget collection and spending, budget allocation, and public debt) and its impacts on the economy. It also puts forward solutions towards sustainable fiscal policy, facilitating national economic development. Participants … [Read more...] about Book on assessment of Vietnam’s economy in 2018 debuts