The government is planning to beef up the national rice and palm oil reserves for emergencies in case the COVID-19 outbreak drags on. The Ministry of Commerce (MOC) announced in an April 22 statement that it will buy and stockpile 50,000 tonnes of rice and 12,000 tonnes of palm oil as reserve food for emergencies. […]
Read MoreThe government has ordered all state agencies and related bureaus to map out their own economic recovery plans to boost local economies – deemed the main avenue to repair the devastated economy from the bottom up. The state expects to roll out a recovery plan in June, or whenever the lockdown is lifted, which will be […]
Read MoreThe Hanoitimes – A representative of the trade ministry, however, suggested measures should be in compliance with current regulations and international agreements that Vietnam is a part of. State-run Vietnam Oil and Gas Group (PVN) has proposed to temporary halt oil imports as global oil prices have crashed recently. However, Nguyen Viet Son, head of the […]
Read MoreThe Asian Development Bank (ADB) has approved a US$1.5 billion loan to support Indonesia’s efforts to combat the impact of the COVID-19 pandemic on public health and the economy. ADB president Masatsugu Asakawa said on Thursday the pandemic had a devastating health, social and economic impact on Indonesia, urging the government to respond to the […]
Read MoreMANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has waived the transaction fees imposed on interbank payments to cushion the impact of the coronavirus disease 2019 or COVID-19 outbreak. BSP Deputy Governor Maria Almasara Cyd Tuaño-Amador has issued a memorandum extending a temporary relief measure on real time fund transfer system transactions among banks […]
Read MoreSINGAPORE (BLOOMBERG) – Singapore is bracing itself for a sharper economic contraction this year than an earlier forecast of a slump of as much as 4 per cent, as the coronavirus pandemic continues to spread globally and disrupts supply chains. The city-state is “very likely” to see a steeper fall in gross domestic product (GDP), Trade and Industry Minister […]
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Thailand
