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The 42nd ASEAN Summit in Labuan Bajo, Indonesia, has adopted the Leaders’ Declaration on Advancing Regional Payment Connectivity and Promoting Local Currency Transaction.

Indonesia accounts for around 40%, or 77 billion USD, of the total digital economic transaction value in Southeast Asia, the Financial Services Authority (OJK) has cited the e-Conomy South East Asia Report of 2022 as saying.

The Ministry of Finance has called on e-commerce platforms to pay tax on behalf of sellers, but online traders insist the suggestion is impractical.

Over 644,000 payment transactions with a total value of more than 279 billion VND (over 11.8 million USD) were processed through the National Public Service Portal in January, according to the Ministry of Information and Communications.

Ho Chi Minh City's authorities will organise online and offline job transaction floors in the Southwest and Central Highlands regions to support businesses in recruiting labourers, said Nguyen Van Lam, Deputy Director of the municipal Department of Labour, Invalids and Social Affairs.

Thailand will tax stock transactions again next year after 30 years of waiver.

Legislators are scheduled to discuss in groups the draft Law on Protection of Consumer Rights (revised) and draft E-Transaction Law (revised) on November 2 during the ongoing fourth session of the 15th National Assembly (NA).

The 18th OCOP Vietnam Craft Village and Products Fair will be held at the Economic Transaction and Commercial Area in Hanoi from November 2 to 6.

Indonesia’s Ministry of Trade plans to issue a new rule to manage crypto transaction floors, requiring two-thirds of directors and commissioners at crypto firms to be its citizens and reside in the country.

Lawmakers are gathering comments on a draft amending the Law on E-Transactions, and insiders comment that the draft needs revisions to be more practical.

Genuine product authentication through QR Code has been put into operation at https://truyxuat.gov.vn by the Ministry of Industry and Trade’s Vietnam E-Commerce and Digital Economy Agency to support and encourage people and businesses to use digital solutions to prevent counterfeit goods in e-commerce transactions.

Indonesia’s tax compliance special staffer Yon Arsal has said the country has collected nearly 6.8 million USD each month since the imposition of crypto and fintech transaction taxes in May.

The development of an international financial centre in Ho Chi Minh City must be associated with the planning work and socio-economic development of the locality, as well as a political consensus, according to experts.

A number of enterprises are restoring production and recruiting more workers as the fourth wave of COVID-19 infections has been partly controlled, thus creating more opportunities for labourers.

The average cash transaction has seen a significant decline compared to before COVID-19 broke out, and the figure is expected to drop in the incoming time, according to a recent report by Visa.

The COVID-19 outbreak has seriously affected the global economy, including Vietnam. However, from another perspective, the pandemic could promote the digital transformation in the banking system, such as moving transactions from “offline to online”. This movement has taken a clearer and clearer shape.

About 67 percent of surveyed banks believe they will lose market share within two years if they fail to digitally transform, according to a new report from cloud banking platform Mambu and The Financial Times Focus (FT Focus).

The Bank of Indonesia (BI) and the People’s Bank of China (PBC) on September 6 officially started the implementation of cooperation in the settlement of bilateral transactions with local currencies (LCS) between Indonesia and China, said BI.

The State Bank of Vietnam (SBV) has directed credit institutions to reduce some transaction fees from August 1 this year to support customers amid the outbreak of the latest COVID-19 pandemic.

The central banks of Thailand and Malaysia launched a cross-border QR payment linkage to enable consumers and merchants in both countries to make and receive instant QR code payments.