ASEAN KEY DESTINATIONS
Japan loans Viet Nam US$108.2 m
The Japanese Government will provide the Vietnamese Government with a loan of JPY11 billion (US$108.2 million) in fiscal year 2016 to improve socioeconomic infrastructure and the competitiveness of the national economy.
A diplomatic agreement to this effect was signed in H? N?i on Tuesday by the Deputy Minister of Planning and Investment, Nguyen Van Trung, and by the Japanese Ambassador to Vi?t Nam, Hiroshi Fukada.
Deputy Minister Trung hailed Japan as Viet Nam’s biggest provider of Official Development Assistance (ODA) at the signing ceremony. He pledged that the ODA will be used to strengthen the bilateral economic strategic partnership.
The loan will enable the Vietnamese Government to carry out the third phase of the Economic Management and Competitiveness Credit programme (EMCC). This will allow Vi?t Nam to strengthen reforms in several priority areas, as part of the 2016-2020 socioeconomic plan adopted by the National Assembly last April.
Japanese Ambassador Fukada expressed hope that the Vietnamese Government will use the loan productively and transparently to help the country achieve administrative and financial institution reforms. He also urged Vi?t Nam to focus on personnel training and effective policy enforcement.
The Japanese government has committed nearly JPY2.8 trillion ($27.5 billion) in ODA funding to Vi?t Nam so far, including the new loan.
The Vietnamese Finance Ministry and the Japan International Cooperation Agency will sign a specific lending agreement in the future, based on Tuesday’s diplomatic agreement.
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Indonesia to launch 13th economic package this month
Coordinating Economic Minister Darmin Nasution said on Wednesday that the government would release its 13th economic policy package in August, adding that the draft had been completed.
Darmin said the 13th package was largely an extension of the previous one, but would expand its focus beyond industry. The 12th package focused on small and medium enterprises.
"We are just waiting to schedule a meeting with the president," Darmin told reporters at his office. He refused to give the exact date the new policy package would come into effect.
The ministry team must meet with President Joko "Jokowi" Widodo one more time to finalize the details, Darmin said.