A new World Wild Fund for Nature (WWF) report finds that ASEAN’s biggest banks are increasingly aware of the impact their businesses have on the environment and society. — Photo WWF HCM CITY — A new World Wild Fund for Nature (WWF) report finds that ASEAN’s biggest banks are increasingly aware of the impact their businesses have on the environment and society, but are slow to act on the huge potential they hold in addressing climate change and financing sustainable food, energy and infrastructure systems in the region. The report, published in collaboration with the National University of Singapore (NUS) Business School’s Centre for Governance, Institutions and Organisations, found that ASEAN banks were not disclosing how they managed climate risks in line with the recommendations of the Taskforce for Climate-related Financial Disclosures (TCFD). The region is particularly vulnerable to climate change, which exacerbates food and … [Read more...] about WWF report warns ASEAN banks
Asean banking integration framework
The Hanoitimes - Vietnam banks have been in a restructuring mode lately as part of their attempt to get the banking system in shape for the Association of Southeast Asian Nations (ASEAN) economic integration at the end of the year, say leading industry analysts. Under the ASEAN Banking Integration Framework (ABIF) agreement, which was signed earlier this year— by 2020 members are required to have banking arrangements in place with regional neighbours. Further, the agreement mandates the establishment of banking services within that neighbour’s borders operating on the same terms as domestic financial institutions opening the ASEAN region up to unrestricted free flow of capital, labour, goods and services. Given the resultant intense competition that will emanate throughout the Southeast Asian region, it is therefore of uppermost importance for Vietnam to ensure that it allows a much greater foreign-banking presence within its borders as rapidly as possible. As well, it is … [Read more...] about Banking industry gears up for ASEAN – Banking & Finance – Economy
Viet Nam News HCM CITY- In the context of global integration and competition, a National Qualifications Framework is an important tool to develop a skilled and mobile workforce, experts have said. The framework would also be a tool for higher education facilities to set out graduation standards, Lê Anh Tuấn of the Ministry of Culture, Sports and Tourism's Training Department said. It would support recognition of qualification, promote quality of education and learning as well as international collaboration, he told a symposium held in HCM City on Tuesday. Most member countries of the ASEAN Economic Community have national frameworks, he said. Nguyễn Thị Thu Thủy of the Ministry of Education and Training's Department of Higher Education said her ministry is working with the Ministry of Labour, Invalid and Social Affairs to develop one based on the ASEAN Qualification Reference Framework (AQRF). AQRF acts as a framework to enable comparisons between qualifications for skilled … [Read more...] about A National Qualifications Framework, an essential tool to develop skilled workforces
EXTERNAL RELATIONS 78. We reaffirmed our efforts to continue enhancing ASEAN’s external relations. In this regard, we reiterated the importance of ASEAN Centrality in the evolving regional architecture and reaffirmed our commitments to work closely with all our partners through various ASEAN-led mechanisms, including ASEAN Plus One, ASEAN Plus Three, ARF, ADMM-Plus and EAS, in ensuring the maintenance of peace, stability, security and prosperity in the region. 79. We noted with satisfaction the important developments in ASEAN’s external relations, in particular the progress made with our Dialogue Partners over the past year. We also welcomed the accreditation of Ambassadors to ASEAN from seventy-eight non-ASEAN Member States and one regional organisation. 80. We acknowledged the rapidly changing dynamics of our region and the world, as well as the increased interest of external parties in ASEAN cooperation and the potential for ASEAN to benefit from new opportunities, … [Read more...] about Joint Communiqué of 47th ASEAN Foreign Ministers’ Meeting (Part 3)
A cohesive regional community could be a boon for migrant workers, but it could also leave them unprotected The coming together of the ASEAN member states in a single economic community in 2015 is expected to provide a greater wealth of opportunities for growth across the region. But there is still a lot of misunderstanding about what this will mean for migration flows in the region and at the country level. People sometimes refer to a free movement of labor, as in Europe, but that prospect remains distant. As this new economic community emerges, there will be opportunity for the greater mobility of workers who move across national boundaries to fill skills shortages, increase their incomes and gain new experiences. However, discussions have primarily focused on labor mobility for skilled workers through Mutual Recognition Arrangements (MRAs) that provide freedom of movement and rights to work across the region for professionals in eight fields - accountancy, engineering, … [Read more...] about How will ASEAN regional integration affect labor migration in Vietnam?