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APEC delegates applaud Vietnam’s financial cooperation priorities
The four priorities include long-term investments in infrastructure; disaster risk financing and insurance; base erosion and profit shifting; and financial inclusion adopted at the Finance and Central Bank Deputies Meeting held in Khanh Hoa province’s Nha Trang city last February.
Kristiyanto, Head of Division for Interregional Economic and Finance Cooperation under the Indonesia Ministry of Finance told Vietnam News Agency (VNA) reporters that his country backs Vietnam’s four priorities and that other APEC member economies comply with the action plan.
Sharing the same view, Andrew F. Oaeke, First Assistant Secretary of Macro Economic Policy Division under Papua New Guinea’s Department of Treasury, said his country is working on base erosion and profit shifting, digital economy and continuing investment in infrastructure.
Both of them agreed that although each country has its own agenda, structural reform is a key issue to implement these priorities in order to reduce the harmfulness of such global problems as base erosion and benefit shifting and to share benefits to all economies.
Dr. Vu Nhu Thang, Director of the International Cooperation Department under the Ministry of Finance who doubled as SFOM Chair 2017, said the priorities initiated by Vietnam are included in the Cebu Action Plan adopted at the Finance Ministers’ Meeting in the Philippines in 2015.
They also have a close connection to the APEC 2017 main themes of “Creating New Dynamism, Fostering a Shared Future” hosted by Vietnam, he added.
The four subjects are among Vietnam’s priorities in the implementation of its socio-economic development tasks for the 2010-2020 period, he said.
U.S. seeks to reassure Beijing after Trump call with Taiwan leader
By Ben Blanchard and Roberta RamptonBEIJING/WASHINGTON (Reuters) - The White House said on Monday it had sought to reassure China after President-elect Donald Trump's phone call with Taiwan's leader last week, which the Obama administration warned could undermine progress in relations with Beijing.The statement from a spokesman for U.S. President Barack Obama highlighted concerns about the potential fallout from Trump's unusual call with Taiwan President Tsai Ing-wen on Friday, which prompted a… chat_bubble_outline Read More...
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HCM City strengthens communal-level health care facilities
Illustrative photo (Source: VNA) HCM City (VNA) – Local patients now can receive high-quality health check-ups at the Binh Chieu ward medical station, thanks to a pilot project to strengthen communal-level medical facilities launched by the Thu Duc Hospital in Ho Chi Minh City on July 20. Local Nguyen Duc Huynh, 32, one of the 10 low-risk patients of chronic kidney failure selected to be treated at the Binh Chieu ward medical station said the service helps him save time and cost travelling to… chat_bubble_outline Read More...
Railway investment lags far behind road expenditures
The modest investment in railways in the last 100 years, as well as high management costs and ticket prices have pushed the railway sector into an impasse. In 2014, when the Noi Bai – Lao Cai highway was opened, the Hanoi – Lao Cai railway, which was once of the most crowded rail routes, lost 10-15 percent of passengers within one month. The rail route still cannot attract passengers, even though Hanoi Railway Transport JSC lowered the ticket price to VND399,000. Passengers now tend to turn… chat_bubble_outline Read More...
A closer look at Vietnam's troubled fertilizer plant as bankruptcy threat looms
Ninh Binh fertilizer plant, built and run by state-owned chemical group Vinachem, has been mostly empty and quiet over the past few months. Despite an investment of more than half a billion dollars, the plant has not been making money, with the future of its 1,000 workers hanging on the line. The plant, along with four other ineffective projects, could be sold or put through bankruptcy proceedings to protect the state assets, Minister of Industry and Trade Tran Tuan Anh told legislators on… chat_bubble_outline Read More...