Mr. Zhang met with Finance Minister Mr. Asad Umar, Planning and Development Minister Mr. Khusro Bakhtiar, Education Minister Mr. Shafqat Mehmood, Adviser to Prime Minister on Institutional Reforms Dr. Ishrat Hussain, as well as other government officials and development partners.In his meetings, Mr. Zhang congratulated the new administration on assuming office and noted the government’s “100-day agenda” that prioritizes revitalizing economic growth, transforming governance, and revolutionizing social services.“ADB and Pakistan have a more than 50-year history of strong partnership,” said Mr. Zhang. “We are committed to deepening our cooperation with the new government and supporting its development agenda to bring prosperity to the people of Pakistan.”ADB Vice-President Mr. Wencai Zhang (left) with Pakistan Finance Minister Mr. Asad Umar (right). Source: ADB)Under the current country partnership strategy (CPS), 2015–2019, and the country … [Read more...] about ADB supports Pakistan’s new development and reform agenda
Safety net programs
Emerging Asia, which covers India, China, and Southeast Asia, will be revelling in an economic growth rate of 6.3 percent annually from 2018 to 2022, according to the Organization for Economic Co-operation and Development. But there’s a hitch: Asia is also waist-deep in alarming projections of deaths, damages to livelihoods and properties, and worsening inequality because of disasters and climate change. Asia’s robust economic growth is not underwritten. The latest assessment report from the Intergovernmental Panel on Climate Change, the world’s largest scientific body formed to study climate change, found that “People living in low-lying coastal zones and floodplains are probably most at risk from climate change impacts in Asia. Half of Asia’s urban population lives in these areas. Compounding the risk for coastal communities, Asia has more than 90 percent of the global population exposed to tropical cyclones.” Poverty and inequality in … [Read more...] about Asia: Rising economic star or poster child for disaster?
When commenting on the challenges that HCMC is facing, he agrees that this high position is unavoidable as there are around 400,000 businesses and manufacturers of various fields in the city, hiring approximately 4.5 million employees. In 2017, there were more than 1,500 cases of work accidents, 122 of which resulted in mortality of 123 people, an increase of 4 compared to 2016. The urgent task at the moment is how to gradually reduce this number effectively. He also states that the financial allocation for work safety training in the whole country is not at all adequate although businesses in general are interested in optimizing this training process as well as possessing the human resources to fight against industrial accidents successfully. The supposed budget for the national work safety program is around VND700 billion (approx. $30.63 million), but the real expense is only VND200 billion ($8.75 million), along with a sponsor of VND200 billion ($8.75 million) from the Denmark … [Read more...] about Work accidents in HCMC need more practical solutions
(VEN) - Meeting highlights Generali’s long-term commitment to Vietnam, a key growth market for the insurance group Vietnam’s Prime Minister Nguyen Xuan Phuc met with Philippe Donnet, Generali Group Chief Executive Officer Hanoi, on Friday (June 22th), Vietnam’s Prime Minister Nguyen Xuan Phuc met with Philippe Donnet, Generali Group Chief Executive Officer to discuss the country’s investment opportunities and economic potential as well as Generali’s strong commitment in developing its business in the nation. The meeting was part of Mr. Donnet’s official visit to Vietnam, a country where Generali has grown to become a key player since the business was established in 2011. Speaking just after the official meeting Mr. Donnet said, “It was truly a great privilege to meet with Prime Minister Nguyen Xuan Phuc and to understand his vision of a fast-growing market like Vietnam. This country presents an attractive opportunity for us, driven by … [Read more...] about Prime Minister Nguyen Xuan Phuc meets Generali Group CEO
WASHINGTON — The International Monetary Fund on Wednesday formally approved a US$50 billion aid package intended to help Argentina confront inflation, budget deficits and a weakening currency. The fund’s executive board approved the agreement that Argentina struck with IMF staff earlier this month. Argentina plans to draw on the first $15 billion tranche of the aid program, of which half will be used for budget support, while treating the remaining $35 billion as "precautionary," according to the IMF. Christine Lagarde, the IMF’s managing director, has heaped praise on Argentina’s plans for economic reform but insisted the decisions were made in Buenos Aires and not handed down from the Washington-based fund. "The approval today is clear evidence of the international community’s trust in Argentina’s reform drive and support for the government economic plan backed by the fund," she told reporters on Wednesday. "This is a plan which was designed … [Read more...] about IMF greenlights three-year $50 bn Argentina aid program