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Indonesia: Ministry considers localized travel bubble to accelerate tourist industry recovery

Tourism and Creative Economy Ministry is mulling over the possibility of establishing travel bubbles with neighboring countries in a more local scope to accelerate the rebound of  the pandemic-hit tourist industry, the ministry’s official has said. The ministry’s undersecretary for infrastructure and destination development, Hari Santosa Sungkari, said on Aug. 7 that the government’s plan to […]

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Reform urgently needed for Vietnam to make use of EVFTA

Vietnam needs to reform its trade mechanisms while local businesses are advised to be more proactive to take advantage of the European Union – Vietnam Free Trade Agreement (EVFTA). According to the Ministry of Planning and Investment before the COVID-19 outbreak, the EVFTA will boost Vietnam’s economy 2.18 to 3.25% in the first five years […]

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Vietnam: Bad debts tend to rise despite slow credit expansion

Non-performing loans are still increasing despite slow credit expansion as the COVID-19 pandemic stretches many businesses to their limits. The first-half financial statements of big banks like Vietcombank, BIDV and Vietinbank all indicated an increase in non-performing loans (NPLs). Total NPLs of Vietcombank increased 11 percent in the last six months, pushing the bad debt […]

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Philippines: Debt payment up 42% in H1

MANILA, Philippines — The government spent P547.35 billion in the first half to settle matured debt from both domestic and foreign lenders, according to the Bureau of the Treasury (BTr). The latest figure was more than 42 percent higher than the P385.25 billion recorded in the same period last year. For June alone, the government’s […]

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