Economy

Two-way trade rose by more than 200 times after over three decades, from US$32.3 million in 1990 to US$6.46 billion in 2007, he noted. As trade is a key pillar of the bilateral relationship, Ambassador Ngo Huong Nam expects the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) will be signed soon, paving the way for more cooperation opportunities between the two sides. … [Read more...] about Australia among Vietnam’s key partners: Ambassador

Hanoi (VNA) – Indonesia’s Jakarta administration has decided to extend the closure of tourist destinations and entertainment venues until April 19 as part of the capital’s effort to contain the spread of COVID-19. Head of the Jakarta Tourism and Creative Economy Agency Cucu Ahmad Kurnia said previously, the Jakarta administration announced the temporary closure of city-owned tourist destinations and entertainment venues from March 23 to April 5. The Indonesian government has outlined a worst-case scenario where the domestic economy contracts by 0.4 percent as the COVID-19 pandemic arrests swaths of economic activity and poses recessionary risks to Southeast Asia’s largest economy, said Finance Minister Sri Mulyani Indrawati. Indonesia’s economy grew by 5.02 percent last year, already the slowest in four years. The World Bank has estimated that the COVID-19 pandemic will significantly slow Indonesia’s economic growth this year – 2.1 percent … [Read more...] about Indonesia extends closure of tourist destinations to contain COVID-19 spread

The Keidanren membership, the first of its kind for a Vietnamese company, will enable the corporation to affirm its position in the Japanese market, reach out to strategic partners such as Toyota, Sumitomo, Mitsubishi, and Toshiba, and at the same time help Vietnamese businesses access large partners of Japan and across the globe. Welcoming FPT to the Japanese business federation, Keidanren Managing Director Kiyoaki Fujiwara said the move not only contributes to strengthening economic relations between Vietnam and Japan, but also to realizing Society 5.0, a big societal transformation plan that Keidanren is pursuing. … [Read more...] about FPT joins Keidanren, vows to boost Vietnam-Japan business links

It comes after some studies suggested the new coronavirus can be spread through speaking and breathing, not just coughing and sneezing. US authorities said wearing a simple homemade mask or scarf could help stem rocketing infection rates. … [Read more...] about Global virus deaths top 60,000, Trump warns of ‘tough week’ ahead

Bangkok (VNA) – Thailand’s new economic package to mitigate the impact of the COVID-19 pandemic will be worth about 10 percent of its gross domestic product (GDP), Deputy Prime Minister Somkid Jatusripitak has said. Deputy PM Somkid stated that the package will cover all economic sectors for at least the next six months. If possible, final approval will be sought from the cabinet on April 7, he added. He did not give a specific value for the package, but the GDP of Southeast Asia’s second-largest economy last year was 16.88 trillion baht (512.76 billion USD). The measures will be partly financed by the fiscal budget and borrowing, he said. The latest package follows last month’s two sets of stimulus measures together worth more than 500 billion baht. The Bank of Thailand (BOT) expects the country’s economy to contract 5.3 percent this year, the worst since the 1998 Asian financial crisis./. … [Read more...] about COVID-19: Thailand’s new economic package to be worth 10 percent of GDP