Indonesia increases defence budget

Indonesia has decided to increase its defence budget to 108.7 trillion IDR (8.25 billion USD), up nearly 10 percent against this year’s initial set budget.
Indonesia increases defence budget ảnh 1President Joko Widodo visiting the Natuna Islands on a warship on June 23 (Source: straitstimes.com)

Jakarta (VNA) – Indonesia has decided to increase its defence budget to 108.7 trillion IDR (8.25 billion USD), up nearly 10 percent against this year’s initial set budget.

Minister of Defence Ryamizard Ryacudu said that a part of the new budget will be used to upgrade an air base and build a new harbour in Natuna Islands in an attempt to further deploy warships and fighters there.

The decision came after President Joko Widodo’s visit to the islands to assert the country’s sovereignty over the area and to strengthen the monitoring of its special economic zones.

Natuna is known to house one of the largest oil and gas reserves in the world and its fish-rich seas have attracted foreign fishing boats to poach in its waters.-VNA

VNA

See more

The RoK's Finance Minister Choi Sang-mok speaks at a trilateral meeting with his Japanese and Chinese counterparts in Georgia. (Photo: Yonhap)

ASEAN+3 to create new financing facility against regional crises

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.

Thailand to apply VAT on imports sent via post

Thailand to apply VAT on imports sent via post

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.
Malaysia asserts pioneering role in halal industry

Malaysia asserts pioneering role in halal industry

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.
ASEAN Future Forum 2024 enters first session

ASEAN Future Forum 2024 enters first session

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).
ASEAN youth empowered to unleash potential: ASEAN chief

ASEAN youth empowered to unleash potential: ASEAN chief

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).
ASEAN bolsters intellectual property cooperation

ASEAN bolsters intellectual property cooperation

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.