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Inflation in Singapore expected to peak in Q4. (Photo: AFP/VNA) Singapore (VNA) - Inflation in Singapore is expected to peak in the next two to four months and will start to ease thereafter, Deputy Prime Minister and Finance Minister Lawrence Wong has said. In an interview granted to Bloomberg, Wong said inflation rates here may very well settle at a higher rate given the geopolitical environment, supply chain issues and how economies are transitioning towards becoming more sustainable. He added that the extent of this easing towards the year end and where the new inflation rates will stabilise at are big uncertainties. Wong noted that they are not likely to return to the rates Singapore had been used to over the last decade or so, as zero to 1% inflation was a historical anomaly and never used to be so low. The Monetary Authority of Singapore (MAS) has already tightened monetary policy four times in the last nine months to dampen inflation, Wong said, adding … [Read more...] about Inflation in Singapore expected to peak in Q4: official

Illustrative image (Photo: Geonoise Asia) Bangkok (VNA) – The Bangkok Mass Transit Authority (BMTA) may procure 3,200 electric buses to phase out fossil-fueled buses from its fleet in three years, said Deputy Permanent Secretary for Transport Sorapong Paitoonphong. The plan is part of BMTA’s revised business rehabilitation plan, which will be sent to the Thai Government for approval in about two months, he added. The development of electric vehicle industry is an important part of the Thai Government’s efforts to restructure the economy with focus on hi-tech industry, biological-circular-green economic model, health care and tourism. Last month, the Thai Government approved two tax incentives to promote the use of electric vehicles and help Thailand become a major manufacturer of electric vehicles in the world./. VNA … [Read more...] about Thailand plans to use entirely electric buses in Bangkok in three years

Senior Lieutenant General Nguyen Tan Cuong, Deputy Defense Minister and Chief of the General Staff of the Vietnam People's Army, presented a Government proposal saying the bill is set to create a framework for the prevention and response to disasters and incidents, while protecting people’s assets and health. It also aims to deal with loopholes in the legal system, ensuring civil defense, he added. With seven chapters and 75 articles, the document focuses on six policies regarding the evaluation of disaster and incident risks in civil defense, assignment in State management and decentralization in the organization of prevention and response activities, civilian protection measures, the organizational revamp of National Civil Defense Steering Committee, big data application, and emergencies in civil defense. The Government is seeking the N.A.'s opinions on whether to stipulate emergencies in civil defense. The N.A. Standing Committee basically agreed on the need for a law on … [Read more...] about N.A. Standing Committee scrutinizes draft Law on Civil Defense

The approval of Vietnam’s circular economy development plan, announced in June, aims to help reduce greenhouse gas emissions by 15 per cent of GDP by 2030 (as compared to 2014). The commitment at COP26 by Vietnam to achieve net-zero carbon emissions by 2050 is considered the main call for investment into green technologies and friendly-environmental projects, as well as approval of plans such as the aforementioned circular economy one. These messages have sent a strong signal regarding the country’s direction towards low-carbon, green development, and a circular economy, and could be a new driving force for Vietnam’s sustainable socioeconomic development, helping to improve its competitiveness and foreign direct investment (FDI) into the country. While governments have committed to lowering CO2, companies are also following suit for the good of the planet, Photo: Shutterstock As a result, numerous groups have made decisions in terms of investment and other operations … [Read more...] about Green standards top policies for fresh foreign ventures

Angkor Wat, a UNESCO world heritage site, is the tourist icon of Cambodia. (Photo: Khmer Times) Phnom Penh (VNA) - Cambodia expects to welcome 1.2-1.3 million international tourists in 2022, said Director General of Tourism Development and International Cooperation at the Ministry of Tourism Thong Rathasak. Recovering fast from the COVID-19 downfall, Cambodia is banking on increased arrival of foreign tourists this year, compared to the last two years. According to Rathasak, the Southeast Asian nation served over 500,000 foreign visitors in the first half of this year, and this was a good comeback compared to the number of 200,000 tourist arrivals last year.. COVID-19 was a big lesson as Cambodia n people learned to coexist with a pandemic, he said, hoping that people who left the tourism sector would come back and rebuild their businesses or careers. For Cambodia, 2022 started well as it got the chance to organise the ASEAN Tourism Forum (ATF), which was … [Read more...] about Cambodia eyes to serve 1.3 million foreign tourists in 2022

The image of Ao Tien high-class tourism urban area has been shared widely on social networks in recent days. (Photo nld.com.vn) Quang Ninh (VNS/VNA ) - The People's Committee of northern coastal Quang Ninh province has refuted information that it has allowed a project to conduct sea encroachment and subdivide land plots for sale, which seriously undermined the conservation of the UNESCO-recognised Ha Long Bay . The committee said the information circulating online about a development project encroaching into the bay in recent days was "not true." The image circulated was taken at in Ao Tien high-class tourism urban area project in Van Don district. The area was in Van Don economic zone, not in the Ha Long Bay, the province stressed. In recent days, the image of an urban area with divided land plots and an island in the middle of the area locating right close to Ha Long Bay has been shared widely on Facebook, stirring strong opposition about greed-driven … [Read more...] about Quang Ninh refutes allegations of sea encroachment in Ha Long Bay

At the meeting (Photo: VNA) Hanoi (VNA) – Deputy Prime Minister Vu Duc Dam on August 17 asked the Ministry of Culture , Sports and Tourism (MCST) to review the operation of household businesses in the tourism sector affected by the COVID-19 . The ministry should coordinate with core travel firms to form key routes connecting localities, the official said at a meeting of the State Steering Committee for Tourism in Hanoi which assessed the implementation of tourism recovery solutions. He ordered restarting heritage digitalisation with the participation of travel enterprises to promote new tourism products. Regarding electricity prices for tourism services and lodging facilities, Dam, also head of the Committee, asked the Ministry of Industry and Trade (MoIT) to submit a plan on power price adjustment to the Prime Minister before application. The MCST, travel associations and firms should propose specific tax and land incentives, he said. Minister Nguyen Van Hung … [Read more...] about Committee seeks ways to ensure rapid, sustainable tourism recovery

HD SAISON has unveiled a preferential loan package of VND10 trillion (US$429.78 million) for workers at industrial parks across the country with the stated goal of protecting them from loan sharks. — Photo courtesy of the company HD SAISON, a subsidiary of HDBank, has earmarked a loan package of VND10 trillion (US$429.78 million) at half the market interest rate for workers at industrial parks across the country. Through this, it hopes to help the government stabilise the economy and ensure social security, and protect workers from loan sharks. Workers expressed happiness on hearing about the package. HD SAISON will lend from this package until the end of 2023 at an interest rate of 20 per cent a year compared to the normal rate of 40-50 per cent. Borrowers can roll over their loans for several years. For the sake of workers An HD SAISON spokesperson said the company was honoured to be chosen by the Government and the State Bank of Vietnam as one of two consumer finance … [Read more...] about Why do workers opt for HD SAISON’s loan package?