1. We, the Foreign Ministers of the Association of Southeast Asian Nations (ASEAN), met on 31 July 2019 at the 52nd ASEAN Foreign Ministers’ Meeting (AMM) in Bangkok. We underlined the need to further strengthen cooperation and advance our partnership to ensure sustainability in all dimensions for ASEAN amidst the rapid changes in Southeast Asia and beyond. ASEAN COMMUNITY-BUILDING 2. We reaffirmed our commitment to the full and effective implementation of the ASEAN Community Vision 2025 and the ASEAN Leaders’ Vision Statement on Partnership for Sustainability. We reaffirmed the importance of maintaining ASEAN centrality and unity in our community-building efforts, engagement with external partners and regional architecture. We commended the ongoing work of all ASEAN Sectoral Bodies and Organs for progress in the implementation of the ASEAN Political-Security Community (APSC), ASEAN Economic Community (AEC), and ASEAN Socio-Cultural Community (ASCC) … [Read more...] about Joint Communique of 52nd ASEAN Foreign Ministers’ Meeting
Governance committee charter
In a recent interview with Vietnam News Agency, Nguyễn Mạnh Đông, head of the maritime affairs department at the Ministry of Foreign Affairs' National Border Committee, reiterated Việt Nam’s consistent policy that all international disputes, including those in the South China Sea, must be resolved by peaceful means as regulated in the UN Charter and the United Nations Convention on the Law of the Sea (UNCLOS 1982). What do you have to say about the need to maintain a peaceful and stable environment in the South China Sea? First of all, we need to reaffirm that peace, security, stability and cooperative development is the wish of all nations in the world and an inevitable trend of humanity. All nations, no matter their economic development level or scope of influence, must together make efforts – with goodwill and via practical and constructive contributions – to maintain an environment conducive for this trend, in the … [Read more...] about All nations, big or small, must uphold the rule of law in the South China Sea
All banks in the country have to adopt the standard version of Basel II and then switch to the advanced version by 2025. — Photo baokiemtoannhanuoc.vn In 2016 the State Bank set a deadline of January 1, 2020, for 17 banks to meet Basel II norms under a national banking sector development strategy. Also, by 2025 all banks in the country have to adopt the standard version of Basel II and then switch to the advanced version. Basel II is the second edition of the Basel Accords, which are recommendations on banking laws and regulations issued by the Basel Committee on banking supervision. It comprises minimum capital requirements, supervisory review and market discipline to enhance competition and transparency in the banking system and make banks more resistant to market changes. Basel II requires banks to have a capital adequacy ratio (CAR) of at least 8 per cent. However, the SBV has allowed 10 banks to adopt Basel II standards earlier than the 2020 deadline. They are Joint Stock … [Read more...] about Basel II deadline rapidly approaching, are banks on course to meet norms?
The divestment of three state-owned tourist companies is expected to present a vast opportunity for foreign investors. Saigontourist owns stakes in several popular four- and five-star hotels in Ho Chi Minh City Foreign investors and consultants are eagerly awaiting the chance to invest in these businesses when their initial public offerings (IPOs) are launched in the near future. Kenneth M. Atkinson, founder and senior board adviser of consultancy service provider Grant Thornton Vietnam, told VIR that the three have exciting potential as a result of their impending equitisation. Several large investment banks, according to Atkinson, have been eyeing Saigontourist for years because of the potential foreign investor interest, and the same would also be true of Hanoitourist. “The opportunities come from the prime property portfolio, particularly in the case of Saigontourist and its iconic hotels such as the Continental, Rex, and Majestic, and more modern properties like the … [Read more...] about Tourism SOE trio makes for IPO gold
Infrastructure Govt proposes ACV as Long Thanh airport investor The Saigon Times Daily Monday, Oct 14, 2019,18:32 (GMT+7) Govt proposes ACV as Long Thanh airport investorThe Saigon Times Daily Minister of Transport Nguyen Van The speaks at the meeting of the NA’s Economic Committee today, October 14 - PHOTO: QUOCHOI.VN HCMC – The Government has proposed the National Assembly (NA) appoint Airports Corporation of Vietnam (ACV) as the main investor for the Long Thanh International Airport project in the southern province of Dong Nai. At a meeting of the NA’s Economic Committee today, October 14, to consider the feasibility study for the first phase of the big-ticket project, Minister of Transport Nguyen Van The noted that the Government had agreed that ACV should be the investor for the project, the local media reported. The Government specifically proposed that ACV should invest in the headquarters … [Read more...] about Govt proposes ACV as Long Thanh airport investor