WB: Malaysia doing well in developing sustainable finance
Malaysia is doing relatively well in developing sustainable finance and enabling policy frameworks compared with other ASEAN countries, said the World Bank (WB) Group.
A view of Kuala Lumpur, Malaysia (Photo: //www.malaymail.com/)
Kuala Lumpur (VNA) - Malaysia is doing relatively well in developing sustainable finance and enabling policy frameworks compared with other ASEAN countries, said the World Bank (WB) Group.
WB senior economist Tatiana Didier said in terms of economic development, the country is spearheading change among the ASEAN-5 (Indonesia, Malaysia, the Philippines, Thailand, and Vietnam) and among some of the other peer countries.
According to the WB’s Unleashing Sustainable Finance In Southeast Asia (SEA) report, the ASEAN-5 economies with relatively more developed sustainable financial markets — especially Malaysia — also tend to have more developed enabling policy frameworks.
Malaysia released its principles-based approach for financial markets taxonomy in 2021, which considers the state of its own economic development and the early stage of adoption of climate risk management practices within the country, while allowing better alignment with international classification standards.
Malaysia has also published a proposed capital markets taxonomy that is currently in its consultation phase, which has four major categories- environment, transition, social and sustainability - but also does not provide specific thresholds for the concerned sectors./.
Malaysia’s ringgit further weakened against the US dollar on October 21, closing the week at a new all-time low of 4.738 due to the absence of fresh market catalyst, analysts said.
Malaysia's economic growth is the fastest among six ASEAN countries in the third quarter (Q3) and also in the first nine months of this year, an official has said.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
A view of Kuala Lumpur, Malaysia (Photo: //www.malaymail.com/) 
