Which policy was launched by government of india in 1991

JAKARTA -- Indonesia allowed a resumption of palm oil exports from Monday after a three-week ban, but shipments were not expected to get underway until details emerge on new rules aimed at securing domestic supplies of the edible oil. The Southeast Asian country, the world's biggest palm oil producer, halted exports of palm oil from April 28 in an attempt to bring down soaring local prices of cooking oil, rattling global edible oil markets already struggling with sunflower oil supply shortages due to the war in Ukraine. President Joko Widodo announced the lifting of the ban on exports of crude palm oil and some derivative products last week, expressing confidence that bulk cooking oil prices were heading towards a target level of 14,000 rupiah ($0.9546) per litre, even if they were currently higher in some areas. Palm oil, used in everything from margarine to shampoo, comprises a third of the world's vegetable oil market, with Indonesia accounting for about 60% of supply. To … [Read more...] about Indonesia policy uncertainty hampers resumption of palm oil exports

Van Don – Mong Cai Highway under construction (Source: baoquangninh.com.vn) Quang Ninh (VNA) – The Van Don – Mong Cai highway, which is scheduled for completion and operation on June 30, aims to create favourable conditions for the northeastern province of Quang Ninh to make breakthrough developments and promote economic links in the region. Nguyen Tien Oanh, Director of the Executive Board of the highway project (the Tien Yen - Mong Cai section), said it has taken time to complete this section – which extends from Bach Dang bridge to the Mong Cai international border gate , because of difficulties caused by the COVID-19 pandemic and other reasons. However, the foundation of the sector has been basically completed and is entering the finishing stages, he said. According to representatives from the Ministry of Transport, the Van Don - Mong Cai highway, which is part of the Hanoi – Quang Ninh highway, plays a strategic role for the socio-economic development of Quang … [Read more...] about Van Don – Mong Cai highway: new launch pad for Quang Ninh’s economic growth

The framework is a new kind of trade agreement focusing on an interconnected, clean, resilient, and fair economy. Vietnam’s Prime Minister Pham Minh Chinh highlighted multilateralism at the launch of the Indo-Pacific Economic Framework (IPEF). Vietnam’s Prime Minister Pham Minh Chinh attends the Indo-Pacific Economic Framework (IPEF) on May 23. Photo: VGP Chinh stressed the need of adjusting the growth model and economic connections towards sustainability and resiliency for the framework consisting of Australia, Brunei, India, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, the Philippines, Singapore, Thailand, and Vietnam, accounting for 40% of the global GDP. He emphasized the role of international unity on the basis of sincerity, trust, and responsibility at the hybrid event held in Tokyo with the attendance of Japan’s Prime Minister Fumio Kishida, India’s PM Narendra Modi, US President Joe Biden, South Korea’s President Yoon Suk-yeol, New … [Read more...] about Vietnam highlights multilateralism at Indo-Pacific forum

Inside one of the country's biggest rice warehouses Ms. Tran Le Dung, First Secretary in charge of the Vietnam Trade Office in Malaysia, said that soil in Malaysia is not suitable for rice cultivation; thus, the country's agriculture focuses on oil palm and rubber trees while its rice self-sufficiency can only meet about 60 percent of domestic demand. Therefore, every year Malaysia has to import from 900,000 to 1 million tons of rice  to meet domestic demand and its reserve. The country often imports long white rice, which is very popularly grown in Vietnam. However, it is not easy for Vietnamese enterprises to export rice to this market. The Malaysian government has assigned Padiberasnasional Berhad Group (Bernas Berhad) to be the exclusive importer of the long white rice to meet the domestic demand. Accordingly, Vietnamese export companies that want to export rice there must sign a contract with Bernas Berhad. Currently, the Vietnam Southern Food Corporation is signing … [Read more...] about Vietnamese rice grain struggling to find position in rice export

Deputy Prime Minister Le Van Thanh addresses the 15th NA's third session on May 23. (Photo: VNA) Hanoi (VNA) – The targets set for 2022, including the growth target of 6-6.5 percent, remain a huge challenge given the domestic and international situation, Deputy Prime Minister Le Van Thanh said at the third session of the 15th National Assembly in Hanoi on May 23. The Deputy PM reported that the macro economy has been maintained, major economic balances ensured, and inflation brought under control, with the consumer price index ( CPI ) in the first four months of this year up 2.1 percent. The monetary market and interest rates have also remained stable, he said, adding that the credit balance by the end of April has increased by 7.18 percent compared to late 2021. In the four-month period, State budget revenue hit 657.4 trillion VND (28.37 billion USD), equivalent to 46.6 percent of the estimate and up 15.4 percent year-on-year. Export turnover reached 122.4 … [Read more...] about Growth target of 6.5 percent remains big challenge: Deputy PM

The Deputy PM’s participation at the session will deliver an important message from the Vietnamese Government that it highly values the effective cooperation with the U.N. in general and ESCAP in particular over the past 45 years, while demonstrating the country’s strong commitments to promoting its partnership with the U.N. and ESCAP in the coming time, according to Vietnamese Ambassador to Thailand Phan Chi Thanh, who is also the Permanent Representative of Vietnam to ESCAP. Vietnam wants to further accelerate the dialogue and cooperation process with member countries, effectively optimize ESCAP's support to implement Vietnam's development strategies and goals, especially during the post-pandemic recovery and sustainable development process, and realize its commitments at the 26th UN Climate Conference (COP26), he stressed. Ambassador Thanh affirmed that the Deputy PM will be the highest leader of Vietnam to attend a session of the commission in person in many years, which shows … [Read more...] about Vietnam aims to deepen partnership with U.N., ESCAP: Diplomat

Phnom Penh (VNA) – Cambodia’s Ministry of Economy and Finance has forecast that the country’s economy will expand 5.1 percent this year and 6.2 percent in 2023. The forecast followed the preliminary assessment of the macroeconomic situation of Cambodia by the International Monetary Fund (IMF) mission in the country, reported Cambodia’s Khmer Times. Regarding the assessment of the economic and financial situation in the country, Alasdair Scott, the IMF’s mission chief for Cambodia said that the growth will be assisted by the socio-economic recovery, despite some risks such as high inflation, ongoing Russian-Ukrainian war, a slowdown of the Chinese economy, and faster-than-expected tightening monetary policy in developed countries. At the same time, the Cambodian economy in 2023 is expected to grow higher than the previous forecast at 6.2 percent, mainly thanks to the growth of the tourism sector. The IMF also urged the government of Cambodia to take timely steps to … [Read more...] about Cambodia expects 5.1 percent in economic growth this year

GENEVA — The World Economic Forum’s Community of Chief Economists expects lower economic activity, higher inflation, lower real wages and greater food insecurity globally in 2022, pointing to the devastating human consequences of the fragmentation of the global economy. Reversing previous expectations for recovery, the majority of respondents to the latest survey expect only a moderate economic outlook in the United States, China, Latin America, South Asia and Pacific, East Asia, sub-Saharan Africa and the Middle East and North Africa in 2022. In Europe, the majority expect the economic outlook to be weak. The choices of both business and government are expected to lead to greater fragmentation in the global economy and unprecedented shifts in supply chains, creating a perfect storm of volatility and uncertainty. These patterns are expected to create further difficult trade-offs and choices for policy-makers, and – without greater coordination – shocking human costs. These are the … [Read more...] about Chief economists outlook warns of dire human consequences from the fragmentation of the global economy

National Assembly Chairman Vương Đình Huệ delivers opening remarks at the meeting in Hà Nội on Monday. — VNA/VNS Photo HÀ NỘI — National Assembly (NA) Chairman Vương Đình Huệ asked deputies to propose practical and effective measures to fulfil socio-economic targets for the 2021-2025 period. Addressing the opening ceremony of the third session of the 15th-tenure NA in Hà Nội on Monday, Chairman Huệ proposed the deputies assess achievements and shortcomings, while pointing out challenges to successfully implementing socio-economic development tasks. Deputies were also asked to closely follow requirements, targets and solutions set by the NA and the Government regarding socio-economic development, COVID-19 prevention and control, five-year planning frameworks during the 2021-2025 period and fiscal and monetary policies. In order to ensure the highest efficiency of the third session, NA agencies and deputies made careful preparations for discussions, aiming for the best outcomes … [Read more...] about NA meeting expected to create premise for socio-economic achievements

Ambassador Lê Thị Tuyết Mai. Photo vtv.vn Deputy Prime Minister Lê Minh Khái is attending the 52nd World Economic Forum (WEF) annual meeting from May 23-24 in Davos, Switzerland. Ambassador Lê Thi Tuyết Mai, Head of the Permanent Delegation of Việt Nam to the United Nations, World Trade Organization (WTO) and other international organisations in Geneva, talks to VTV News on relations between Việt Nam and WEF, as well as issues surrounding the content of this year's forum. The World Economic Forum Annual Meeting 2022 (WEF Davos Conference 2022) has the theme "History at a turning point: Government Polic ies and Business Strateg ies". This will be the first live event promoting public-private cooperation between leaders of countries, international organi sations and global corporations since the COVID-19 pandemic. Could you please tell us more about the issues that will be discussed at the Conference, as well as the purpose, meaning and comments on this year's topic? The … [Read more...] about Việt Nam commits to working with global community in tackling global issues