TNT
CandyKisses:
After his vacation is over.. House prepares to pass 3 prominent laws
{Policy: Euphrates News} Independent MP Haitham Al-Fahd revealed, on Friday, the readiness of the parliamentary committees to pass 3 prominent laws.
Al-Fahd said {for Al-Farat News} that: “The parliamentary committees intend after the end of the legislative holiday to approve the communications law, the investment law and the national security law, all of which serve citizens.”
He added, “The current parliamentary session presented a number of important laws that serve citizens, foremost of which is the Social Security Law and the Tripartite Budget Law, which, despite much talk about it, paid attention to the service aspect.”
“This session aspires to provide significant legislative and supervisory work,” Al-Fahd stressed
Tishwash:
Next week, Iran will officially join the Shanghai Cooperation Organization
Russian Foreign Minister Sergey Lavrov announced, on Friday, that Iran will officially join the Shanghai Cooperation Organization next week, along with China, Russia and Central Asian countries.
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“During the meeting of presidents on July 4, Iran’s full membership will be approved,” Lavrov said at the inauguration of the organization’s center in Moscow.
The minister indicated that the meeting will also witness the signing of a memorandum of understanding regarding the “obligations” of Belarus, an ally of Russia, which is scheduled to “also launch a path for full accession” to the organization.
The Shanghai Organization was established in 2001 at the initiative of Russia, China and four countries in Central Asia: Tajikistan, Kyrgyzstan, Uzbekistan and Kazakhstan. India and Pakistan joined in 2017.
The Islamic Republic has been an observer member of the organization since 2005, and its last attempt to join it in 2020 failed as a result of Tajikistan’s refusal at the time. However, the member states returned and agreed in September 2021 to join Tehran, which at that time began a series of procedures that required up to two years, for membership to become official.
Iran is also seeking to join the BRICS, which includes South Africa, Brazil, China, India and Russia.
The Russian announcement of completing the procedures for Iran’s accession comes at a time when the Islamic Republic is making diplomatic moves in various directions to ease tensions and Western restrictions on it, which included, in particular, opening up to Arab countries in the Gulf region, strengthening cooperation with countries in Asia, Central and South America, and re-establishing contact with European countries. After months of increasing tensions with it, leading to indirect talks with the United States, mediated by Oman.
Tehran’s relations with Moscow have witnessed a convergence in the past months, after the Russian invasion of U-----e in February 2022.
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Russian President V------------n visited Tehran in the summer of that year, after Iranian President Ibrahim Raisi visited Moscow at the beginning of the same year.
Kiev and Western countries accuse Iran of providing Russia with drones to use in its war against U-----e. Tehran has repeatedly denied providing weapons to Moscow “for use in war”, but admitted to providing Russia with drones before invading U-----e. link
A rise in unemployment and an increase in poverty rates.. An economist indicates the risks of currency printing
Asher, the economic expert, Ahmed S----m, today, Saturday, the dangers of currency printing.
S----m stated to Earth News that “there is no economic feasibility in printing the currency to cover the budget expenses for the reason that the increase or printing of the currency will raise the level of the monetary mass and thus will cause a significant rise in the price level by virtue of the lack of current production capacity within the economy, meaning an increase in the monetary mass.” In exchange for the absence of real non-oil production in the commodity sectors, namely agriculture and the manufacturing industry.
He added, “This will translate into a rise in the price level, in other words, a rise in the level of inflation and a decrease in the value of the Iraqi currency. The interests in the private sector lead to the dismissal of a number of workers and reduce them by virtue of the weak purchasing power and thus the failure to achieve revenues that can employ a larger number of workers.
And that “these are all negative effects that may be left behind by resorting to printing a new currency in return for the lack of real production capacity, in addition to a lack of confidence in the Iraqi currency and in decisions, and this causes great economic confusion even at the level of the investment decision, which in the end affects the reality of the economy in a way very negative.” link
Source: Dinar Recaps
Harambe:
Billions of US dollars from RoK expected to head to Vietnam | Vietnam+ (7/1/23)
Investment from the Republic of Korea (RoK) in Vietnam is expected to accelerate in the near future, including many large-scale projects worth up to billions of US dollars as a series of memorandums of understanding (MoUs) on cooperation between the two countries’ ministries, sectors, and businesses was signed at the Vietnam – RoK Business Forum that took place last weekend within the framerwork of the state visit to Vietnam by the RoK’s President Yoon Suk Yeo.
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Up to 205 Korean businesses including major corporations like Samsung, LG, SK, Hyundai Motor, and Lotte, accompanied President Yoon during the Vietnam visit.
Speaking at the forum, Director of the Foreign Investment Department under the Ministry of Planning and Investment Do Nhat Hoang highlighted that the RoK’s investment in Vietnam has seen breakthroughs in the past six or seven years. RoK is now the largest foreign investor in Vietnam, with a total registered capital of 82 billion USD.
Although in the first five months of this year, RoK’s investment in Vietnam slowed down due to the general trend of global investment flows, a bright future is ahead, Hoang said, adding that the agency has received dozens of investment project proposals with some worth hundreds of millions of US dollars or even billions of US dollars.
Large corporations are still looking to Vietnam and consider the country the number one investment destination, said Hoang.
Chairman of the Hyosung Group Cho Hyun Joo said his firm considered Vietnam a strategic market. Hyosung has developed production facilities in many localities throughout the country, such as Ho Chi Minh City, Dong Nai, and Ba Ria-Vung Tau provinces.
He told baodautu.vn that Hyosung would not only want to expand the scale but also to turn the country into a sustainable investment destination for the group.
Another Korean firm, Doosan Group, said it was looking to expand eco-friendly energy investment in Vietnam as one of the future strategies that it is aiming at the potential clean energy market in the Southeast Asian country.
The Doosan Enerbility company had signed agreements with three companies operating thermal power plants in Vietnam to promote an environmentally friendly fuel conversion project.
The RoK’s firm and the Nghi Son 2 Power Limited Liability Company have signed a memorandum of understanding (MoU) on energy collaboration to research the application of carbon reduction solutions in electricity production, coal consumption, and greenhouse gas emissions.
LG Group Chairman Koo Kwang Mo affirmed that LG chooses Vietnam as its production base. LG currently invests 7.5 billion USD in the country and is planning to invest another 5 billion USD shortly.
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Similarly, the SK Group is planning to add 1.3 billion USD for investment in the renewable energy sector.
Meanwhile, at a recent meeting with Minister of Planning and Investment Nguyen Chi Dung, Chairman of the CJ Group Kyung Shik Sohn said that CJ has invested about 1 billion USD in a series of companies in Vietnam and it plans to build a logistics centre, expand to other areas such as veterinary medicine, biotechnology, and join renewable energy-using projects.
In his speech at the Vietnam-RoK Business Forum, Prime Minister Pham Minh Chinh said Vietnam is giving priority to three strategic breakthroughs regarding institutional reforms, infrastructure, and human resources.
The country is also stepping up economic restructuring, industrialisation, and modernisation based on sci-tech and innovation, including sustainable growth drivers such as the digital economy, digital transformation, green growth, and circular economy in line with the country’s green growth strategy.
In such a process, Vietnam welcomes foreign investors, especially those from the RoK, particularly in innovation, digital transformation, biotechnology, electronics, semiconductors, clean energy, green economy, smart city development, and hi-tech agriculture, he stressed.
He wished for their further investment in the cultural and entertainment industries.
For his part, RoK’s President Yoon Suk Yeo urged Korean businesses to invest in Vietnam. He called Vietnam “the centre of the restructuring of the global supply chain”.
The investment market in Vietnam has therefore been upgraded.
A new opportunity is opening up for RoK, more than any other country, which has a close connection with Vietnam, President Yoon said, adding that the solution for the current crisis can be found in Vietnam.
https://en.vietnamplus.vn/billions-of-us-dollars-from-rok-expected-to-head-to-vietnam/255571.vnp
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Source: Dinar Recaps
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