Philippine President: financial system plays crucial role in response to COVID-19
Philippine President Rodrigo Duterte has emphasised the important role played by the country's banking and financial management system in responding to the crisis caused by the COVID-19 pandemic.
Philippine President Rodrigo Duterte (Photo: AFP/VNA)
Hanoi (VNA) - Philippine President RodrigoDuterte has emphasised the important role played by the country's banking andfinancial management system in responding to the crisis caused by the COVID-19pandemic.
During his annual state of the nation speech on July 27, Duterte expressed the pridein the country’s ability to maintain a strong finance despite the impact of thepandemic.
He stressed that stable financial management and fast-growing banking systemare the factors that help the country better cope with the health crisis.
Duterte also expressed optimism that the overall situation will be better whenthe world finds an effective vaccine againstCOVID-19.
He highlighted that the country received a BBB plus credit rating despite the creditrating downgrades and negative outlook revisions worldwide.
“The Japan Credit Rating Agency upgraded us from BBB plus to Aminus last month,” President Duterte said in his speech.
“Our fiscal position is strong, our economic and fiscalmanagement prudent and our banking system robust. We are in a better positionto weather the crisis caused by the COVID-19 global pandemic,” he said./.
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The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade has sent a consultation letter to the Philippines’ Department of Trade and Industry asking it to exclude Vietnam from three safeguard investigations on some steel products.
The Philippines and the World Bank have signed a loan agreement worth 370 million USD for a project to support local farmers, the Xinhua news agency reported, citing the Philippines’ Department of Finance (DOF) as saying on July 20.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
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The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Philippine President Rodrigo Duterte (Photo: AFP/VNA) 
