The onset and offset of the global health crisis containment measures like lockdowns, social distancing, international air travel bans, and limiting freight transport are being enacted based on contagion rates of individual ASEAN countries and their capacity of healthcare infrastructure. The announced unemployment subsidies vary from country to country depending upon their fiscal space, while migrant labourers from heavily-infected countries are banned from travelling. … [Read more...] about From containment to recovery: rescuing the ASEAN from crisis
Refuge recovery meetings
Bochmann: Ideally, now is the time to work with and train associates. Contemporary tourists are looking for a personalized experience – something they can talk about when they get back to their families, friends, and colleagues. Now is the time to ask what we can sell tourists, MICE organizers, and destination wedding specialists that they can only experience in Vietnam. It is experiences and interaction with the Vietnamese people, authentic Vietnamese food, and Vietnamese culture, as well as beautiful weather and scenery that we need to concentrate on. … [Read more...] about How should Vietnam prepare for post-pandemic tourism recovery?
Hanoi (VNA) - The Philippine government is eyeing a stimulus package worth 846 billion pesos (16.7 billion USD) to enable a full economic recovery from the COVID-19 pandemic, according to Finance Secretary Carlos Dominguez. The stimulus package, which is waiting for Congress' approval, would include a cut in corporate income tax and modernisation of the country's fiscal incentive systems, Dominguez said. Local businesses have urged lawmakers to pass these reforms early so that small, medium and large companies can resume their operation and recover from the public health crisis. The Philippine tax authority said the country's total tax revenue in the first four months of 2020 dropped sharply to 527.41 billion pesos (22.6 million USD), or 25.4 percent below last year's collection over the same period. Despite the decreased revenue, Dominguez said the Philippines remains "financially able" to meet the unexpected challenges of the pandemic. The country also has practiced fiscal … [Read more...] about Philippines considers 16.7-billion-USD stimulus package
According to the NA-assigned targets, Vietnam’s GDP growth rate in 2020 will be 6.8% while inflation will be kept below 4%. However, the unexpected outbreak of COVID-19 in more than 200 countries around the world has made this goal a major challenge which, as assessed by the Government, is difficult to be achieved. Given that fact, the proposal to adjust the growth targets is necessary and consistent with objective reality, looking directly at the socio-economic situation and forecasting the international and domestic situation in the near future. Under the Government’s updated scenario, the country’s GDP will grow by about 4.5% in 2020. The Government has also set a higher growth target of 5.4% in the event of a favourable global situation, with the disease being put under control and the global market recovering. Meanwhile, the consumer price index (CPI) for the whole year will rise by 4% on average; total state budget revenue will see a reduction of VND163 trillion … [Read more...] about BUSINESS NEWS HEADLINES MAY 30
According to the statistics of the Civil Aviation Authority of Viet Nam (CAAV), from April 19 to May 18, airlines in Viet Nam served over 8,600 flights on domestic routes. That number of flights rose nearly double compared month on month and Vietjet has resumed all of its domestic routes at full capacity. … [Read more...] about Vietjet fully returns to domestic skies at full capacity