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Clare » November 28th, 2023
Vietnam upgrades ties with Japan to highest level
November 27, 2023 at 6:26 AM
HANOI (Reuters) – Vietnam and Japan on Monday officially upgraded their relations to a “comprehensive strategic partnership” during a visit by Vietnamese president Vo Van Thuong to Tokyo.
The move underlined Vietnam’s increasingly strategic role as an important link in global supply chains amid trade tension between China and the West, which is helping to bring foreign investment to the southeast Asian country as some companies relocate operations from China.
“This is an important event, opening a new chapter in the Vietnam-Japan relation,” Thuong said in a speech broadcast on national television.
The elevation of ties with Japan followed Vietnam’s historic upgrade of relations with the United States in September, when the former foes signed multiple cooperation agreements, including on semiconductors and critical minerals.
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Vietnam has designated five other countries as comprehensive strategic partners, including China, India, Russia, South Korea and the United States.
Japan is Vietnam’s third-largest source of foreign investment and its fourth-largest trading partner, with bilateral trade reaching $50 billion last year.
Several Japanese multinationals, such as Canon, Honda, Panasonic and Bridgestone, are among the largest foreign investors in Vietnam, turning it into a regional manufacturing hub, with one of the fastest-growing economies in Asia.
Vietnam and Japan, both embroiled in separate maritime disputes with China, in 2020 reached a $348 million Japanese loan agreement for Vietnam to build six patrol vessels.
(Reporting by Khanh Vu, editing by Ed Osmond) LINK
After the first ran out.. Finance intends to launch the second issue of {reconstruction} bonds
11/28/2023
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The Ministry of Finance announced today, Tuesday, that it intends to launch the second issue of {Emaar} bonds.
A Finance statement, a copy of which {Al-Furat News} received, stated, “Given the strong demand for trading in national bonds (reconstruction bonds) and the full subscription of the first issue amount, the Ministry of Finance, represented by the Public Debt Department and in cooperation with the Central Bank of Iraq, intends to make the second issue of reconstruction bonds available.” With a value of 1.5 (trillion Iraqi dinars) and with the same mechanism previous to the first issue.
He stated, “This measure comes in implementation of the paragraphs of the government program related to enhancing the development and investment aspects represented by the reconstruction and construction movement that our dear country is witnessing, in addition to developing financial and monetary policies and providing opportunities for citizens to contribute to the overall economic activity through investment in bonds.”
It is noteworthy that these bonds are issued with a guarantee from the Ministry of Finance, and the bond can be acquired by submitting an application to one of the official banks approved and registered with the Central Bank. Accordingly, the Ministry calls on investors and citizens to take advantage of the offer and take the initiative to benefit from this investment opportunity.
The Finance Ministry noted that “the size of this issue will be limited.”
She noted that “the second issuance of bonds worth one and a half trillion Iraqi dinars, tradable on the Iraqi Stock Exchange, is available in two categories:
– The first is at a price of (500,000) five hundred thousand dinars, with an annual interest of 6% for two years.
– The second price is 1,000,000 one million dinars, with an annual interest rate of 8% for a period of four years.
– Purchasing and trading the bonds offered is tax-exempt, according to what is stated in the General Federal Budget Law No. 13 of 2023 LINK
Source: Dinar Recaps
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