ASEAN seeks solutions for regional economic recovery

Minister of Industry and Trade Tran Tuan Anh, on behalf of ASEAN Economic Ministers, had a phone discussion with Secretary-General of ASEAN Lim Jock Hoi regarding plans for recovering the regional economy and maintaining intra-bloc supply chains after the COVID-19 pandemic has been brought under control.
Minister Tran Tuan Anh affirmed that Vietnam is paying close attention to the quick response to the impact of the COVID-19 pandemic on regional economies and supply chains.

“As Chair of ASEAN in 2020, Vietnam supports and is willing to facilitate exchanges within the framework of ASEAN +3 to devise an economic recovery plan and prevent the negative effects of the pandemic, as directed by ASEAN+3 leaders,” he said.

Minister Anh and ASEAN Secretary-General Lim agreed to monitor and push for agreement between ASEAN member countries and the three partner nations of China, Japan, and the Republic of Korea on the content and adoption of a joint statement of ASEAN +3 Ministers on coping with COVID-19 in the future.

 Inside a factory of ITM Semiconductor Vietnam Co.,Ltd,
at the Vietnam-Singapore Industrial Park, Tu Son, Bac Ninh. Photo: Thai Hung/VNA

 In the first quarter of 2020, Petrovietnam Fertilizer & Chemicals Corporation (PVFCCo)
produced 342,000 tons of fertilizers. Photo: Huy Hung/VNA

 A workshop of Jasan Textile & Dyeing (Vietnam) Co.,Ltd
at the Pho Noi B Industrial Zone, Lie Xa, Yen My, Hung Yen. Photo: Pham Kien/VNA

 Sun World Ba Na Hills reopened on April 28. Photo: Tran Le Lam/VNA

The Ninh Binh tourism week themed “The Golden Color of Tam Coc - Trang An 2020” kicked off
on May 16 with unique activities in Hoa Lu, Ninh Binh. Photo: Duc Phuong/VNA

Visitors in Bangkok, Thailand. Photo: AFP / VNA

The Cambodian government on April 21 announced a three-month tax exemption for hotels, restaurants and travel agencies
in Phnom Penh and several provinces as the COVID-19 pandemic hit the country's tourism industry hard. Photo: VNA

People wear masks to prevent Covid-19 outbreak in Quezon, the Philippines. Photo: Xinhua / VNA

Dancers wear masks during a performance in Bangkok. Photo: Xinhua / VNA

The ASEAN Senior Officials’ Meeting (SOM) at the Deputy Foreign Ministerial level was held on May 18 in the form of a teleconference. Attending the meeting, Deputy Foreign Minister Nguyen Quoc Dung,  head of Vietnam ASEAN SOM, proposed focusing on the implementation of four major points agreed on at these gatherings. These entail establishing a COVID-19 ASEAN Response Fund and regional reserve warehouses of medical supplies, developing standard procedures in response to emergency public medical conditions, and putting forth post-COVID-19 recovery plans.
He thanked Lim for his support for Vietnam in promoting its role as ASEAN Chair, in particular his support for the country’s proposal to issue a joint statement from the ASEAN Economic Ministers (AEM) on enhancing economic resilience to respond to COVID-19 at the AEM Retreat in March, and to prompt ASEAN member nations to approve a joint statement from ASEAN and Japanese economic ministers on initiatives on economic resilience in response to the COVID-19 outbreak.

The minister also updated the ASEAN Secretary-General on the Vietnamese Prime Minister’s decision to remove temporary restrictions on the export of medical products and to resume normal rice exports from May 1 in a spirit of collective responsibility in ensuring food supply in the ASEAN Community and in accordance with declarations adopted by ASEAN Economic Ministers and partner countries.

"As the target of our outbound strategy, the emerging ASEAN economy has received growing attention. Among the 27 foreign branches that Korean financial firms set up last year, 13 were located in ASEAN member countries, such as Vietnam, Indonesia and Singapore."
The Financial Services Commission (FSC) of South Korea.
Story: VNP -  Photos: VNA, AFP & Xinhua

ASEAN - A Promising Destination for FDI

ASEAN - A Promising Destination for FDI

In the context of global trade marked by various shades of gray due to political conflicts and numerous other challenges, the Southeast Asian region continues to be a promising destination for foreign investors.