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Philippines: Banks’ bad loans hit 11-year high

MANILA, Philippines — The asset quality of Philippine banks further deteriorated for the second straight month in February as the industry’s gross non-performing loan (NPL) ratio rose to 4.08 percent, the highest in more than 11 years due to the impact of the COVID-19 pandemic, according to the Bangko Sentral ng Pilipinas (BSP). The latest […]

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Cambodia: Government adds VAT on e-commerce transactions

E-commerce transactions, for both digital products and services, are now subject to value-added-taxes (VAT) in Cambodia, as the number of online transactions has seen a rapid increase. In a sub-decree signed by Prime Minister Hun Sen on April 8, e-commerce transactions provided by non-resident taxpayers who do not have permanent offices in Cambodia will be […]

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Vietnam to raise tax on cars with high emissions

Experts have suggested imposing high taxes on vehicles and encouraging the use of electric cars. At a seminar on urban transport’s impact on the environment held several days ago, Yann Maublanc from Espelia said that, after electric car usage kicked off, nitrogen oxide emissions in the populous Île-de-France decreased by 37 percent in 2005-2015, while […]

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Indonesia’s textiles industry gears up for Industry 4.0

Indonesia’s textiles industry, among others, is getting ready to implement Industry 4.0 programmes that, according to the country’s industry ministry, will boost efficiency and competitiveness. The ministry has provided facilities for structurisation in the textiles, leather and footwear industry through renewal of machinery with advanced technologies. The various programmes outlined by the ministry to implement the roadmap […]

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Cambodia: PM reaffirms commitment to Curb COVID-19 and secure growth

Premier underlines his determination to steer the country towards controlling the pandemic and economic growth. Cambodia’s Prime Minister has reaffirmed the Royal Government’s utmost commitment to overcome COVID-19 challenges, while updating them on attained milestones and achievements. Prime Minister Hun Sen underlined the points in his recent message to  the people to welcome  the occasion […]

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