Credit ratings agency Fitch Ratings (Fitch) has forecast that Indonesia’s economic growth will contract by 2 percent in 2020, largely attributable to the impact of the COVID-19 pandemic.
The Indonesian Government is planning to expand its social aid programme and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the economy in the second half of this year.
In a recent interview granted to Vietnam News Agency correspondent in Singapore, Dr. Hoe Ee Khor, Chief Economist at the ASEAN+3 Macroeconomic Research Office (AMRO), expressed his impressions on Vietnam’s economic achievements and contributions to the Association of Southeast Asian Nations (ASEAN) since the country joined the bloc 25 years ago.
The domestic automobile market is expected to thrive in the second half of 2020 after a long stagnation due to the COVID-19 pandemic, driven mainly by the Government’s great support and strong discounts from dealers.
Flexible rules of origin in the European Union-Vietnam Free Trade Agreement (EVFTA) will help local plastic enterprises take full advantage of preferential tariffs when exporting to the EU market.
The COVID-19 pandemic has wiped out around 85 trillion rupiah (5.87 billion USD) of Indonesia’s tourism revenue so far this year, forcing business associations to call on the government to provide a greater stimulus for the virus-battered industry.
Speeding up infrastructure development and improving ease of doing business and vocational training are among things Vietnam should do to make itself more attractive to foreign investors post-COVID-19, according to investment fund VinaCapital.
The reopening of the tourism sector and the resumption of industrial production back to normal affirms that Vietnam has spectacularly overcome COVID-19 and is ready to become a regional economic hub, Economic Professor Pankaj Jha has assessed in his recent article posted in website moderndiplomacy.eu.
Joining free trade agreements (FTAs), Vietnam has many opportunities to attract foreign direct investment (FDI) flows, but it also needs to take solutions to prevent frauds and abuse of State policies to illegally enjoy export incentives.
Vietnam’s leather and footwear industry should improve its supply chain performance to take advantage of the milestone trade deal that the country has signed with the EU and to recover from the effects of the COVID-19 crisis, speakers said at a recent international footwear conference.
The Vietnam Institute for Economic and Policy Research (VEPR), in coordination with Oxfam, Prakarsa, Tax and Fiscal Justice Asia (TAFJA) and Vietnam Tax Justice Alliance (VATJ), on June 25 announced research outcomes on the case of corporate tax incentives in the ASEAN towards sustainable tax policies in the ASEAN Region.
Thailand’s Board of Investment (BoI) recently approved five large-scale projects with a total investment value of 41.83 billion THB (1.34 billion USD) in an effort to reactivate economic drivers after the country began easing lockdown measures.
Vietnam is sparing no efforts to implement tax reform measures along with the application of information technology in tax administration to disclose budget information, according to the Vietnam Annual Economic Report 2020 launched at a conference in Hanoi on June 17.
The European Union (EU)-Vietnam Free Trade Agreement (EVFTA) is expected to trigger high-quality FDI flows from Europe to the Southeast Asian country, Vietnamese Trade Counsellor in Italy Nguyen Duc Thanh has told the Vietnam News Agency (VNA).
Thai Deputy Prime Minister Somkid Jatusripitak has urged the Board of Investment (BoI) to make tax incentives and investment packages more attractive to foreign agri-businesses to turn Thailand into an investment hub for CLMV (Cambodia, Laos, Myanmar and Vietnam) countries.
Experts have suggested Vietnamese enterprises improve product quality standards to overcome barriers imposed by the fastidious yet promising EU market, thus optimising the advantages to be generated from the EU-Vietnam Free Trade Agreement (EVFTA).
The Indonesian Government widened the state budget deficit to 6.34 percent of the gross domestic product (GDP), or 1,039.2 trillion IDR (73.28 billion USD), in the revised state budget 2020, from earlier 5.07 percent, or 852.9 trillion IDR.
Minister of Finance Dinh Tien Dung has requested an urgent investigation into an alleged bribery of Vietnamese officials by Tenma Vietnam - a subsidiary of Japan’s plastic product maker Tenma Corporation.
Indonesia’s manufacturing industry is facing two main obstacles in terms of limited cash and working capital flows amidst the COVID-19 pandemic in the country, said Industry Minister Agus Gumiwang Kartasasmita on May 20.
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