Author: malaysiang

The Malaysian government is launching several policies, which will be more powerful and stronger, to face the world’s challenges, said Prime Minister Anwar Ibrahim.

He said the policies would include the National Industrial Plan, to be launched in August, the Mid-Term Review of the 12th Malaysia Plan (12MP) at the end of September and the second MADANI Budget in October

He said these policies were required to deal with the challenges facing the world, which included the power struggle and war; global economic slowdown and the climate and environmental crisis.

“This big framework that will be launched will serve as a platform for good, transparent and responsible governance,” he said in his congratulatory speech at the investiture ceremony in conjunction with the Malaysian King’s Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah’s birthday celebration Monday.

Besides economic recovery efforts, the prime minister said the unity government was also focusing on addressing the issue of the cost of living, increase in the price of goods and food security which had become a worldwide problem.

Anwar, who is also Finance Minister, said several approaches such as the Rahmah Umbrella Concept and Aidilfitri Sales Carniva and entrepreneurship programmes were carried out as part of the efforts to help the people.

Malaysia, he said, would also continue to play a more active role in voicing its stance and preserving the country’s interests at international forums, particularly in issues of the country’s sovereignty, humanitarianism, security and disaster management.

“Your Majesty’s contribution in raising the country’s interests in the diplomatic and investment fields is greatly appreciated,” he said.

Meanwhile, the Prime Minister said Malaysia’s Gross Domestic Product (GDP) grew 5.6 per cent involving a total investment of RM71.4 billion during the first quarter of 2023 and attributed this to the wise planning by the Cabinet, civil servants and private sector.

He said the Malaysia MADANI Budget 2023 was unanimously passed at the First Meeting of the Second Session of the 15th Parliament last year.

“Hence, our determination to implement the three pillars and 12 main thrusts of the MADANI Budget, especially in food security, the digital economy, the role of Small and Medium Enterprises (SMEs) and to eliminate hardcore poor,” he said.

He said the government, in line with the concept of Developing Malaysia MADANI, was committed to working hard to ensure the country’s growth, while upholding justice and noble human values.

Source: Nam News Network

The following is a brief review of the day’s events as reported by the Vietnam News Agency.

-Prime Minister Pham Minh Chinh received Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi of the United Arab Emirates (UAE) in Hanoi on June 5, calling on the UAE to work closely with the Vietnamese Ministry of Industry and Trade to soon finalise talks on the bilateral Comprehensive Economic Partnership Agreement (CEPA).

The host leader hailed the two sides’ efforts to promote negotiations on the CEPA, especially when the two countries are celebrating the 30th founding anniversary of bilateral diplomatic relations in 2023.Read full text

-Vietnamese Ambassador to France Dinh Toan Thang has said Vietnamese Minister of Foreign Affairs Bui Thanh Son’s attendance at the 2023 Organisation for Economic Cooperation and Development (OECD) Ministerial Council Meeting (MCM) and official visit to France from June 5-8 would provide an opportunity to reaffirm the common perception of the vision of the bilateral relations and the determination to promote deeper and closer connections between the two countries, particularly in meeting their requirements in the new context.

In an interview granted to the Vietnam News Agency (VNA)’s resident correspondents in Paris, Thang said it is the first visit to France by a Vietnamese Minister of Foreign Affairs since the two countries upgraded their relationship to a strategic partnership a decade ago. It is also meant to celebrate the 50th anniversary of bilateral diplomatic ties and the 10th anniversary of their strategic partnership.Read full text

-The Vietnamese delegation to the 20th Shangri-La Dialogue, led by Deputy Minister of Defence Sen. Lieut. Gen. Hoang Xuan Chien, attended plenary sessions, the official banquet and bilateral meetings on the sidelines of the event, which took place in Singapore from June 2-4.

At the meeting between Chien and General Robert Brieger, Chairman of the EU Military Committee, the two sides shared delight at the bilateral defence cooperation over the years on the foundation of the EU-Vietnam Comprehensive Partnership and Cooperation Framework Agreement (PCA) and the EU-Vietnam Framework Participation Agreement (FPA).Read full text

-Ship 20 of the Naval Region 3’s Brigade 172 anchored in Makassar, Sulawesi, Indonesia, on June 4 to participate in the 4th Multilateral Naval Exercise Komodo (MNEK), according to the Quan doi Nhan dan newspaper.

The military exercise held by the Indonesian Navy will last until June 8, with the working delegation of the Vietnam People’s Navy (VPN) aboard the vessel expected to partake in a street parade, a multilateral drill at sea, and music-sport-food exchanges within its course.Read full text

-The total inflows of foreign direct investment into Ho Chi Minh City from early this year to May 20 reached over 1.14 billion USD, down 13.5% annually, reported the municipal Department of Planning and Investment.

Of them, 199.8 million USD was poured into 374 new projects, down 2.5% year-on-year.Read full text

– Vietnam spent 2.04 billion USD to import animal feed and raw materials for the production of this kind of commodity in the first five months of this year, according to the Ministry of Agriculture and Rural Development (MARD).

The figure marks a year-on-year decrease of 2%.Read full text

-Although the aquaculture industry has been facing many challenges, it continues to receive support from the Government, Director in charge of communications of the Vietnam Association of Seafood Exporters and Producers (VASEP) Le Hang told Lao dong newspaper.

According to Hang, the Prime Minister has demanded the State Bank of Vietnam effectively manage credit operations to ensure the suitable provision of credit capital, and continue to reduce interest rates to support businesses, especially those in aquatic export.Read full text

-The Vietnam Space Week opened in the Mekong Delta province of Hau Giang on June 5, featuring a series of enticing activities to inspire the youth in outer space.

Co-organised by the provincial People’s Committee and the Ho Chi Minh City Computer Association (HCA), the two-day event features a NASA talk show, a NASA STEM contest for students aged 6-18, and the exploration of the starry sky. Participants are also treated to dining and taking pictures with astronauts.Read full text/.

Source: Vietnam News Agency

Forbes Vietnam on June 5 unveiled the top 50 listed companies in 2023, the 11th year it has released this list in the country.

The rankings are based on last year’s audited consolidated financial reports of the companies listed on the Ho Chi Minh Stock Exchange (HSX) and the Hanoi Stock Exchange (HNX).

Forbes Vietnam said total after-tax profit of the 50 firms stands at over 228 trillion VND (9.7 billion USD) while their combined revenue 1.49 quadrillion VND, respectively rising 18% and 24.9% from the 2022 list.

The Vietnam National Petroleum Group (Petrolimex) remains the biggest revenue earner with more than 304 trillion VND. Meanwhile, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) recorded the most after-tax profit, almost 29.9 trillion VND.

The top 50 listed companies are divided into sectors, and most are leading firms or those already gaining a foothold in their sectors.

The rankings are dominated by businesses in the financial (banking, securities, insurance), essential consumer goods, and logistics industries. In contrast, representatives of the real estate and material sectors halve.

There aren’t many new names in this year’s list compared to previous years, according to Forbes Vietnam.

In 2022, profits of listed companies in general and those in the top 50 list hit a record level. However, during the list compilation process, the magazine also saw that businesses are now facing the most trying times in about 10 years./.

Source: Vietnam News Agency

The Thai Cabinet’s recent decision to extend employment contracts for over 200,000 migrant workers has eased concerns about a domestic labour shortage.

Poj Aramwattananont, Vice Chairman of the Thai Chamber of Commerce and President of the Labour and Skill Development Committee, said based on discussions held with the chamber and the Federation of Thai Industries (FTI), the cabinet approved an MoU on foreign workers from Cambodia, Laos and Myanmar; and an agreement on foreign workers from Cambodia, Laos, Myanmar and Vietnam.

The approval was based on a cabinet resolution from July 5, 2022 and another dated February 7, 2023.

According to government spokesman Anucha Burapachaisri, the move is intended to reinforce economic security. The extension applies to migrant workers who arrived under labour- related MoUs signed by governments. However, Anucha said that the cabinet changed its mind and approved the extension as the lingering uncertainty over the government’s formation threatens to leave a huge labour vacuum.

The cabinet previously rejected the ministry’s request for an extension, fearing it would create a burden of responsibility on the new government.

According to Deputy Prime Minister Wissanu Krea-ngam, without the extension, the migrant workers would have had to return home and wait until a new government took power before they could come back to resume their employment in Thailand.

Meanwhile, Poj acknowledged that Thailand is facing structural problems, with severe shortages in both the quantity and quality of labour, especially in tourism, service, construction and real estate, food processing and small business. These sectors have a high demand for a large number of workers to support the country’s economic growth post pandemic./.

Source: Vietnam News Agency

The Vietnam News Agency (VNA) and Bulgarian News Agency (BTA) have freshly sealed a cooperation pact on professional exchanges during VNA Deputy Director General Doan Thi Tuyet Nhung’s working trip to Bulgaria from June 1-5.

According to the document signed by Nhung and BTA Director General Kiril Valchev, the two agencies will provide each other with information on the two nations via the exchange of photos, stories written in English, and various types of multimedia information. They will expand their scope of bilateral collaboration via mutual visits of their leaders, reporters, and technicians to boost joint work in communications and share professional experiences.

Nhung affirmed that the professional cooperation agreement lays the foundation for the sides to enhance their exchange of various types of information, introduce potential and strengths of each country, and strengthen the link between the two peoples, contributing to the increasingly development of the Vietnam-Bulgaria relations.

She emphasised that the VNA and BTA, the official news agencies of Vietnam and Bulgaria, see ample room for cooperation in information exchange serving the growing needs for mutual understanding between the countries’ peoples, businesses and investors.

She expressed her belief that with the pact, the agencies will effectively carry out their cooperation activities such as the exchange of information, especially in multimedia information, professional, and experience exchanges.

For his part, Valchev lauded the VNA’s position in Vietnam’s national information system and hoped to learn from its experience in multimedia information development.

According to the Director General, practical cooperation between the VNA and BTA will provide and disseminate official and useful information about each side’s country, people, culture, and business climate, thereby enhancing mutual understanding between their peoples and enterprises.

Valchel said he is confident that the two agencies will continue to be an effective bridge for Vietnamese and Bulgarian businesses and peoples, helping tighten the nations’ traditional friendship and collaboration./.

Source: Vietnam News Agency