Us economic recovery

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

Tokyo (VNA) - Santo Akiko, President of the House of Councillors of Japan, on May 29 praised Vietnam’s impressive achievements in preventing and fighting the COVID-19 and highlighted the important role played by the Vietnamese National Assembly in the combat. During a reception for Vietnamese Ambassador to Japan Vu Hong Nam, Santo conveyed the thanks of the Japanese legislature to the Vietnamese NA and its Chairwoman Nguyen Thi Kim Ngan for the gift package of 20,000 face masks amid the COVID-19 outbreak. She briefed on positive results in the fight against the disease in her country, especially the country’s decision to lift national emergency on May 25 and the recovery of socio-economic activities. She spotlighted the fruitful development of the bilateral relations, especially legislative cooperation, expressing her hope that the cooperation between the two legislatures will further develop and reap new achievements in the time to come. For his part, … [Read more...] about Top Japanese legislator praises Vietnam’s COVID-19 fight

The onset and offset of the global health crisis containment measures like lockdowns, social distancing, international air travel bans, and limiting freight transport are being enacted based on contagion rates of individual ASEAN countries and their capacity of healthcare infrastructure. The announced unemployment subsidies vary from country to country depending upon their fiscal space, while migrant labourers from heavily-infected countries are banned from travelling. … [Read more...] about From containment to recovery: rescuing the ASEAN from crisis

Jakarta (VNA) – The Asian Development Bank (ADB) has approved a loan worth 300 million USD to help PT Geo Dipa Energi (GDE), an Indonesian state-owned company, expand its geothermal power generation. In its May 28 announcement, ADB said that it will also manage a 35 million USD loan from the Clean Technology Fund for the project. GDE will use these loans to investing in expanding its geothermal power generation capacity by 110 megawatts in Java, the country’s largest electricity grid, through the construction and commission of two geothermal plants at Dieng in Central Java and Patuha in West Java. GDE President Director Riki Ibrahim said that the Geothermal Power Generation Project, recognized as a National Strategic Project by the government, will provide environmentally friendly base-load electricity to the Java–Bali electricity grid, reducing CO2 emissions by more than 700,000 tonnes per year. The project will build critical geothermal experience in Indonesia … [Read more...] about ADB helps Indonesia develop geothermal power

During a reception for Vietnamese Ambassador to Japan Vũ Hồng Nam on Friday, Santo conveyed the thanks of the Japanese legislature to the Vietnamese NA and Chairwoman Nguyễn Thị Kim Ngân for the gift package of 20,000 face masks during the COVID-19 outbreak. … [Read more...] about Top Japanese legislator praises Việt Nam’s COVID-19 fight