Sighed relief

Given the severe impact of COVID-19, the National Assembly’s recent approval of a VND350 trillion (US$15 billion) economic recovery package is considered by businesses and experts as an extremely important leverage and motivation moving forward. Businesses long for the US$15 billion bailout package to be soon disbursed to support their ailing operation. Businesses expect early disbursement Luu Ngoc Nam, the owner of a firm specialising in food, industrial catering, transportation, and warehousing in Hanoi, said that his businesses has almost been exhausted because of COVID-19. But he felt more motivated upon hearing that the national legislature has just approved a VND350 trillion economic recovery package. “We are very pleased and hopeful that conditions for accessing this package will be easier. The State should create favourable conditions for businesses like us to get support in a quick and effective manner,” said Nam. Similarly, Nguyen Anh Tu, director of … [Read more...] about US$15 billion bailout package a stimulus to economic recovery

Australia and New Zealand dispatched surveillance flights on Monday to assess the damage in Tonga, isolated from the rest of the world due to the eruption of an underwater volcano that triggered a tsunami and blanketed the Pacific island with ash. Australian Prime Minister Scott Morrison pledged to provide support for Tonga as early as possible but said the volcano ash had hampered relief efforts. "There's been a lot of challenges there with the ash cloud and the disruption to communications and so we are working together to get as much support to Tonga as we possibly can," Morrison told radio station 2GB on Monday. Australia's Bureau of Meteorology told Reuters in an emailed statement on Monday there was "no current volcanic activity, and the volcano is not spewing ash". It said ash that had reached the Australian state of Queensland was from a previous eruption. Australia's Minister for the Pacific Zed Seselja said initial reports suggested no mass casualties and that … [Read more...] about Australia, New Zealand step up efforts to aid tsunami-hit Tonga