Nasution said external pressure brought about by normalisation policy of the US Federal Reserve (Fed) – the central bank, the trade war threat and commodity price fall would still determine the rupiah condition.According to Bloomberg, rupiah has depreciated by 10 percent this year amidst a stronger US dollar after the FED raised its interest rate.The pressure on rupiah would not yet be over, according to Indonesian Coordinating Minister for Economy Darmin Nasution (Photo: AFP/VNA)In facing the pressure, the one the government could do is to strengthen the economic fundamental by cutting current account deficit, Darmin said. According to him, the result would not come in short term to help stabilize rupiah against the US dollar.The government, therefore, will continue to redress the current account balance such as by issuing the 16th economic policy package in a bid to increase capital account surplus.The policy package covers revision of the Investment Negative List (DNI), to … [Read more...] about Pressure on rupiah not yet over in short term: Minister
Indonesian foreign minister
Foreign leaders mourn President Tran Dai Quang
Leaders of foreign countries and international organisations have sent their condolences to Vietnamese Party, State and Government leaders and people, as well as President Tran Dai Quang’s family following the passing of the leader. President Tran Dai Quang. Malaysian Prime Minister Mahithir Mohamad expressed his condolences to Acting President Dang Thi Ngoc Thinh. In his letter, the Malaysian PM highly valued President Quang’s contributions to enhancing bilateral ties between the two countries, and expressed his belief that Vietnamese people will overcome this hard time to continue fulfilling the President’s dreams of turning Vietnam into a prosperous nation. Indian President Ram Nath Kovind also sent condolences to General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong, praising President Quang as a great patriot, a politician and a good friend of India. The President’s passing is a great loss to the … [Read more...] about Foreign leaders mourn President Tran Dai Quang
PM welcomes Indonesian Foreign Minister
PM Nguyen Xuan Phuc (R) welcomes Indonesian FM Retno Marsudi at the Government Office, Ha Noi, April 17, 2018. Photo: VGP Addressing a reception for Indonesian Foreign Minister Retno Marsudi in Ha Noi on April 17, PM Phuc applauded the fine outcomes of the third meeting of the Viet Nam – Indonesia Bilateral Cooperation Committee, which, he said, would actively contribute to strengthening the strategic partnership between the two countries in a more substantive and effective manner. He emphasized that Viet Nam and Indonesia are large trade partners of each other, with two-way trade growing positively over the past years, at 6.5% during the 2012-2016 period and 16% in 2017 to hit US$6.5 billion. Indonesia’s investment in Viet Nam is increasing sharply over recent years, the leader stated, hailing this as a rosy sign of the bilateral investment ties. Photo: VGP PM Phuc said Viet Nam is accelerating the … [Read more...] about PM welcomes Indonesian Foreign Minister
Seven Indonesian sailors kidnapped in Philippines
Indonesian authorities have voiced concerns that piracy in the Sulu Sea area, a major sea traffic lane for the world's top thermal coal exporter, could reach levels previously seen in Somalia. Analysts say $40 billion worth of cargo passes through those waters a year, including supertankers from the Indian Ocean that cannot use the crowded Malacca Strait. "We got confirmation (yesterday) of an incident of kidnapping involving Indonesian crew of a ship," Indonesian Foreign Minister Retno Marsudi told reporters. She said the hijackings were carried out by two different armed groups in attacks on a tugboat towing a coal-carrying barge. Six of the 13 crew on board were freed, Marsudi said, and were on their way back to Indonesia. "We absolutely do not tolerate this. The government will try all options to free the hostages," Marsudi said. Up to 18 Indonesians and Malaysians were kidnapped in three attacks on tugboats earlier this year in Philippine waters by groups suspected of ties to … [Read more...] about Seven Indonesian sailors kidnapped in Philippines
Minister of Public Security active in India
Security minister active in India Minister of Public Security Tran Dai Quang has stated that Vietnam always appreciates traditional friendship and strategic partnership with India and its “Look East” policy. Meeting with Indian National Security Advisor Shivshankar Menon in New Delhi on October 31, Minister Quang said Vietnam highly values the Indian Government’s approval of 24.8 million USD in official development assistance for the construction of Dien Bien – Tay Trang road, as part of a project on new highway linking India, Myanmar, Laos, Vietnams and Cambodia. He noted the growing bilateral cooperation across security, law enforcement and anti-crimes over the past time, adding that he hopes Menon will facilitate links between the National Security Council of India (NSC) and the Vietnamese Ministry of Public Security (MoPS). The guest also suggested the NSC and MoPS promptly sign a memorandum of understanding on cooperation, thus creating a legal … [Read more...] about Minister of Public Security active in India