2025-03-24: Vietnam’s Digital Currency Push
Foxconn and Mitsubishi Team Up for EV Production
Good Morning,
Below are some of the most important developments in business and economics in Asia today.
▪️ Vietnam: Vietnam and Singapore Forge Comprehensive Strategic Partnership
Singapore Prime Minister visits Vietnam to strengthen ties.
▪️ Indonesia: Indonesia's Strategic Rice Management Initiative: Strengthening Supply, Supporting Farmers, and Stabilizing Prices
Bulog and Rice Management continues to evolve as strategic initiatives secure domestic rice supplies, support farmers, and stabilize food prices in Indonesia.
▪️ China: China’s Strategic Push to Stimulate Consumer Growth
China is actively expanding its consumer market through policies aimed at increasing domestic demand and stimulating economic growth.
▪️ China: Trilateral Economic Cooperation Among China-Japan-South Korea
China, Japan, and South Korea are intensifying economic and technological cooperation to build stronger, more stable relationships.
▪️ Taiwan: Technology-Driven Export Surge Reshapes Global Trade Dynamics
The surge in export orders driven by advanced technology and strategic policy measures is transforming global trade dynamics.
▪️ Taiwan: Foxconn and Mitsubishi Motors Forge Alliance in Electric Vehicle Innovation
Foxconn is negotiating with Mitsubishi Motors to develop a new electric vehicle, marking a significant step in its transition toward this emerging market.
▪️ South Korea: US Industry Leaders Challenge South Korea's Trade and Digital Platform Regulations
US industry leaders assert concerns over South Korea’s trade regulations and digital platform policies.
▪️ Japan: Mitsubishi Motors and Foxconn Forge Strategic EV Alliance
Mitsubishi Motors intends to form a strategic partnership with Foxconn, also known as Hon Hai Precision Industry Co., to lower production costs by having Foxconn manufacture its electric vehicles.
▪️ Vietnam: Vietnam's Strategic Pilot for Digital Currency Regulation
Vietnam's evolving regulatory landscape for digital asset management reflects a commitment to support innovation while safeguarding financial security.
▪️ Taiwan: Taiwan's Balanced Strategy: Central Bank's Interest Rate Freeze and Housing Market Dynamics
Taiwan's central bank and housing market policies underscore a strategic approach to balancing financial stability with market growth amidst global uncertainties.
▪️ South Korea: South Korea Implements Major National Pension Reform Amid Demographic Shifts
Pension reform in South Korea introduces significant changes to the National Pension Act to address sustainability concerns amid demographic shifts.
For more information on these developments, please see the full report below.
Thanks for reading,
Rodney J Johnson
Today's Developments
Widely Reported On Issues of Importance
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Vietnam and Singapore Forge Comprehensive Strategic Partnership
Singapore Prime Minister visits Vietnam to strengthen ties.
Vietnam and Singapore have elevated their bilateral relationship by establishing a Comprehensive Strategic Partnership, marking a new phase in their long-term engagement.
Recent high-level visits and the upgrading of their ties reinforce a strong foundation built on more than 50 years of collaboration and high political trust.
Singapore plays a vital role as one of Vietnam’s key economic partners and is recognized as the country’s second-largest investor.
This relationship is illustrated by the Singapore-Vietnam Industrial Parks (VSIP), which span 18 parks across 13 locations in Vietnam and have attracted over US$18.7 billion in investments while generating more than 300,000 jobs. In parallel, Vietnam’s investments in Singapore have exceeded US$690 million. This dynamic partnership underscores an open, innovation-driven economic model that benefits both nations.
The two countries are expanding their collaboration into new and promising areas, including initiatives in the Green Economy and Digital Economy Partnership.
They are also working jointly on security and defense matters, such as cybersecurity and transnational crime prevention, while focusing on enhancing cooperation in food and energy security projects, including developments in offshore wind power. Collaboration also extends to sectors like finance, training, and education, further strengthening their multifaceted ties.
References for this Development
Việt Nam-Singapore triển khai nội hàm mối quan hệ Đối tác chiến lược toàn diện
Vietnam-Singapore implement the content of the Comprehensive Strategic Partnership
Bao Dien Tu | Local Language | News
Strengthening economic and strategic ties: Singapore PM visits Vietnam
Vietnam Net - E | English | News
Thủ tướng Singapore Lawrence Wong sẽ thăm chính thức Việt Nam
Singapore Prime Minister Lawrence Wong will pay an official visit to Vietnam.
VTV News | Local Language | News
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Indonesia's Strategic Rice Management Initiative: Strengthening Supply, Supporting Farmers, and Stabilizing Prices
Bulog and Rice Management continues to evolve as strategic initiatives secure domestic rice supplies, support farmers, and stabilize food prices in Indonesia.
By March 2025, Perum Bulog absorbed over 400 thousand tons of paddy (rice-equivalent) across Indonesia in a bid to bolster government rice reserves.
The absorption rate increased to 26 thousand tons per day, a significant rise from previous harvests that averaged below 20 thousand tons per day. Perum Bulog has set an ambitious target of reaching 2 million tons of domestic rice by the end of April 2025, with an interim goal of raising the daily absorption rate to 750800 thousand tons by the end of March. These measures aim to eliminate the need for rice imports and stabilize the food supply and prices across the nation.
To support this initiative, the Indonesian government allocated Rp16.6 trillion and has been purchasing grain directly from farmers at a set price of Rp6,500 per kilogram.
This direct purchase strategy ensures that farmers benefit from fair compensation while reducing the role of middlemen. The policy forms part of a broader strategy to strengthen the agricultural sector, enhance food independence, and mitigate domestic food price fluctuations in the market. Concurrently, measures are underway to educate farmers on producing high-quality grain, further improving the overall rice quality.
Maintaining the quality of rice stored in government reserves remains a top priority.
Perum Bulog has implemented a structured maintenance program involving inspections on a monthly, bimonthly, and trimonthly basis to prevent issues such as weevil infestations. In response to concerns about weevil-contaminated rice, Bulog conducts regular fumigation and special maintenance programs. Rice that is damaged or infested is withheld from public release, and the nearly 2 million tons stored in warehouses undergo rigorous quality control and pest management protocols.
National oversight is provided by the National Food Agency (Bapanas) and regional governments, which monitor both the quality and pricing of rice.
Bapanas actively participates in initiatives such as the distribution of SPHP rice under a Cheap Food Market Operation with set retail prices for different zones. Meanwhile, regional authorities ensure that only rice with acceptable moisture content reaches Bulog and that pricing remains stable. This coordinated effort supports the broader goal of attaining the targeted rice absorption levels and stabilizing the food supply chain across Indonesia.
References for this Development
Bulog serap 400 ribu ton gabah setara beras hingga Maret 2025
Bulog absorbs 400 thousand tons of rice-equivalent paddy until March 2025
Antara News | Local Language | News
Wadirut Bulog: Perawatan maksimal beras dilakukan agar tak berkutu
Deputy Director of Bulog: Maximum care is taken to prevent weevils in rice
Antara News | Local Language | News
Bapanas ajak pemda turut pantau kualitas gabah yang diserap Bulog
Bapanas invites local governments to monitor the quality of rice absorbed by Bulog
Antara News | Local Language | News
Wadirut Bulog minta petani jaga kualitas gabah agar pengolahan cepat
Deputy Director of Bulog asks farmers to maintain the quality of rice so that processing is fast
Antara News | Local Language | News
PCO: Pemerintah investasi Rp16,6 triliun ke Bulog sejahterakan petani
PCO: Government invests Rp16.6 trillion in Bulog to improve farmers' welfare
Antara News | Local Language | News
Wadirut Bulog sebut beras SPHP dikurangi takaran "palsu"
Bulog Deputy Director Says SPHP Rice Reduced Dosage is "Fake"
Antara News | Local Language | News
Cegah Cadangan Beras Diserang Kutu, Ini Strategi Bulog
Prevent Rice Reserves from Being Attacked by Weevils, This is Bulog's Strategy
Republika | Local Language | News
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China’s Strategic Push to Stimulate Consumer Growth
China is actively expanding its consumer market through policies aimed at increasing domestic demand and stimulating economic growth.
China has introduced a comprehensive 30-point policy package intended to boost consumer spending and shift the domestic growth model toward consumption as a central economic pillar.
The initiative enhances consumer confidence by promoting income growth and alleviating financial pressures while investing in human capital and expanding domestic demand. Key measures include steps to increase household consumption capacity, such as promoting wage increases and diversifying sources of property income. The policy directly targets both the stock and real estate markets to stabilize them, while integrating consumption-driven growth with improvements in social welfare. Subsidies for childcare, healthcare, and pensions ease financial pressures on households and align with an economic approach that prioritizes people.
In addition, the government has renewed its consumer goods trade-in program by tripling its funding to 300 billion yuan and extending subsidies to a broader range of electronic devices.
The program, which historically generated over 1.3 trillion yuan in sales, has boosted consumer sentiment and financial optimism among Chinese consumers. Policymakers are also exploring long-term strategies such as introducing a paid annual leave system and fostering technology-driven consumption innovations.
The emphasis on boosting domestic demand comes at a time when the economy faces broader challenges related to consumer confidence and demand.
Coordinated efforts between central and local authorities will be essential to achieve the projected rebound in consumption growth by 2025, supported by China’s large population and expanding middle class.
References for this Development
Economic Watch: Cash, confidence, consumption: How China's policy kit fuels consumers' wallets?
Xinhua | English | News
Family-friendly resorts emerge as new weekend escape for Chinese parents
China Daily | English | News
新华视评丨努力让老百姓的消费底气更足
Xinhua Video Review: Strive to make people more confident in their consumption
Xinhua | Local Language | News
2025中国发展高层论坛：我国将综合施策扩大消费
2025 China Development Forum: my country will adopt comprehensive measures to expand consumption
Beijing News | Local Language | News
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Trilateral Economic Cooperation Among China-Japan-South Korea
China, Japan, and South Korea are intensifying economic and technological cooperation to build stronger, more stable relationships.
Chinese, Japanese, and South Korean officials met in Tokyo on March 22, 2025, during the 11th China-Japan-ROK Trilateral Foreign Ministers' Meeting.
The ministers sought to enhance cooperation by respecting core interests and effectively managing differences. They prioritized revitalizing economic partnerships, resuming negotiations on a Free Trade Agreement, and expanding scientific, technological, and cultural exchanges. They also set an ambitious goal to increase people-to-people exchanges to 40 million by 2030. In addition, the ministers addressed challenges in healthcare, environmental protection, and disaster management while promoting open economies and free trade to counter global economic stagnation and geopolitical tensions.
Simultaneously, Chinese and Japanese leaders co-chaired the sixth China-Japan High-Level Economic Dialogue in Tokyo to reinforce decades-long economic integration.
They highlighted the significant growth in bilateral trade, which has held steady at approximately 300 billion US dollars for 15 consecutive years since the normalization of relations, and noted bilateral investments nearing 140 billion US dollars. The dialogue emphasized the strength of partnership over rivalry. Both sides called for enhanced economic and trade cooperation, balanced dialogue on mutual concerns, and expanded collaboration in emerging sectors such as artificial intelligence, the digital economy, energy conservation, environmental protection, and healthcare for aging populations.
The meetings outlined several areas for future cooperation.
The trilateral meeting prioritized economic integration, scientific and technological innovation, and cultural exchanges, while the China-Japan Economic Dialogue reached consensus on 20 key points covering green development, ecological initiatives, and elderly care services. Additional areas of focus included service trade policies, food safety, customs coordination, marine environmental issues, and intellectual property protection. Both discussions prominently featured the resumption of negotiations on the China-Japan-Republic of Korea Free Trade Agreement, the advancement of an Asia-Pacific Free Trade Area, plans to expand economic cooperation in third-party markets, and support for major international expos.
Officials in both meetings agreed on the importance of stable industrial and supply chains and on avoiding the politicization of economic security issues.
They planned further high-level discussions, with the next economic dialogue scheduled to take place in China. These engagements reflect ongoing efforts to deepen strategic economic ties, enhance multilateral cooperation, and establish robust frameworks for addressing contemporary trade and economic challenges in the region.
References for this Development
Key consensus reached at China-Japan high-level economic dialogue
Xinhua | English | News
第六次中日经济高层对话达成二十项重要共识
The Sixth China-Japan High-Level Economic Dialogue reached 20 important consensuses
Beijing News | Local Language | News
China, Japan, ROK FMs pledge to advance trilateral cooperation
Xinhua | English | News
China, Japan hold sixth high-level economic dialogue
Xinhua | English | News
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Technology-Driven Export Surge Reshapes Global Trade Dynamics
The surge in export orders driven by advanced technology and strategic policy measures is transforming global trade dynamics.
Export orders in February 2025 reached US$49.45 billion, marking a 31.1% year-on-year increase, while cumulative orders for the first two months totaled US$96.42 billion – an 11.9% rise compared to the previous year.
Projections for Q1 export orders range between US$148.4 billion and US$150.4 billion, which stands as the second highest quarterly result on record and reflects a trend of consistent growth over four consecutive quarters.
Electronic and information communication products have fueled this expansion.
In February, electronic product orders climbed 48.6% year-on-year to US$19.63 billion, with cumulative exports rising 21.8% to reach a record US$37.35 billion over the first two months. Orders for information and communication products in February amounted to US$13.77 billion, representing a 31.8% increase compared to the previous year. Moreover, the optoelectronics sector experienced a 16.6% rise in optical equipment orders, supported by increased prices and higher machinery demand.
Strong demand from emerging technologies such as artificial intelligence, new mobile phone launches, high-performance computing, and cloud services has driven these significant order surges.
Policy measures, notably mainland China's old-for-new policy, have also bolstered growth. Consequently, advanced technology applications—including AI servers and chips—have seen substantial increases, with AI-driven products making a notable contribution to the overall export order expansion.
Regional performance highlights robust markets in the United States and ASEAN.
US export orders reached US$32.81 billion over the first two months, up 17.9% year-on-year, with February orders totaling US$16.43 billion—a 32.2% increase. Meanwhile, ASEAN export orders hit US$18.49 billion, marking a 22.9% jump driven by heightened demand for transportation vehicles and electronic products. Orders from mainland China and Hong Kong increased by 28.9% in February, although their cumulative growth over the first two months was a modest 1.7%.
A notable shift in production strategy has emerged as the overseas production ratio for export orders fell to 45.1%, the lowest level in five years.
Companies now return production to domestic facilities in Taiwan, especially in the electronics and ICT sectors, where they have enhanced AI-related capacity. At the same time, traditional sectors such as basic metals, plastics, rubber, and chemicals experienced declines in export orders due to intense price competition and overcapacity amid the broader expansion of technology-driven exports.
References for this Development
AI挹注2月外銷訂單優於預期 經部估首季創同期次高
Central News Agency | Local Language | News
AI和供應鏈移轉效應 前2月美國、東協接單金額創新高
United Daily News | Local Language | News
前二月外銷訂單 寫歷年次高 接單美國攀峰衝上328億美元
United Daily News | Local Language | News
AI續旺 2月外銷訂單年增31％
AI continues to prosper with export orders increasing by 31% year-on-year in February
Liberty Times Net | Local Language | News
台灣外銷接單暴衝！出口炸裂年增31％ 刷新歷年同期紀錄
Yahoo News Taiwan | Local Language | News
《基金》AI普及 新型基建預期今年突破600億美元
Fund: AI popularization and new infrastructure are expected to exceed US$60 billion this year
Yahoo Finance | Local Language | News
《各報要聞》外銷訂單轉強 2月年增31％
Yahoo Finance | Local Language | News
Export orders surge 31%, driven by demand for AI
Taipei Times | English | News
Export Orders in February 2025
MOEA - E | English | Government
對美出口前30大貨品 資通訊、積體電路為主
Liberty Times Net | Local Language | News
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Foxconn and Mitsubishi Motors Forge Alliance in Electric Vehicle Innovation
Foxconn is negotiating with Mitsubishi Motors to develop a new electric vehicle, marking a significant step in its transition toward this emerging market.
Chairman Liu Yangwei views the potential collaboration as a pivotal opportunity to showcase Foxconn's manufacturing capabilities and attract additional partnerships with established automakers. Although the company has not issued a public statement about the negotiations, its efforts signal an intent to broaden its industry presence.
The company is actively shifting its focus away from its traditional role as an Apple products manufacturer and toward sectors such as electric vehicles, robotics, and smart healthcare.
This strategic pivot builds on earlier initiatives, including the development of electric models with Yulong Motor despite challenges in capturing a significant market share. Foxconn has also explored potential partnerships with other established automakers like Nissan, and has pursued share acquisitions with Renault, its major shareholder. These efforts follow setbacks from experiments with startups, such as the failed collaborations with Lordstown Motors and Fisker.
Mitsubishi Motors is working to finalize a partnership with Foxtron Vehicle Technologies, a unit of Hon Hai Precision Industry (Foxconn), to create a new pure electric small hatchback.
The vehicle is based on the previously showcased Model B and is being tailored for the right-hand drive market. Mitsubishi has modified the design's appearance and interior features to meet Japanese specifications and align with its branding, aiming to distinguish the hatchback from competitors in markets like Taiwan.
This collaboration serves Mitsubishi Motors' broader strategy to expand its electric vehicle lineup while utilizing modern production technologies that could accelerate development and reduce research and development costs.
Discussions regarding a potential launch in Taiwan remain underway, with the final decision pending further negotiations among Mitsubishi Japan, Hon Hai Advanced Technology, and China Motor Corporation.
References for this Development
焦點股》裕隆：可望代工生產三菱電動車 股價強漲
Liberty Times Net | Local Language | News
日媒：日本三菱汽車計劃委託鴻海生產電動車
Japanese media: Japan's Mitsubishi Motors plans to entrust Hon Hai to produce electric vehicles
Yahoo News Taiwan | Local Language | News
以 Model B 為基礎，鎖定海外右駕市場！ Mitsubishi 將與鴻華先進展開電動車合作
The Storm Media | Local Language | News
日產先等等！不放棄任何機會，《日經》：富士康將與三菱合作打造電動車
The Storm Media | Local Language | News
鴻海電動車奪三菱訂單受惠 裕隆一度大漲8%成交量翻倍
Yahoo News Taiwan | Local Language | News
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US Industry Leaders Challenge South Korea's Trade and Digital Platform Regulations
US industry leaders assert concerns over South Korea’s trade regulations and digital platform policies.
South Korea’s trade and regulatory environment has become a major point of contention in US-South Korea economic relations.
The Coalition of Services Industries (CSI) submitted several sets of concerns to the US Trade Representative (USTR), focusing on issues that impact both the cultural and digital sectors. One key issue is the mandatory "screen quota" system, which requires domestic theaters to allocate a specific number of days annually for Korean films. Although South Korea reduced the quota from 146 to 73 days, the CSI contends that the country’s advanced cultural industry and the international success of films like Parasite justify further reductions or even eliminating the quota to more accurately reflect consumer demand.
Simultaneously, the CSI raised complaints about South Korea’s de minimis duty exemption, which applies solely to US imports instead of all global trade.
This unilateral application complicates customs processes and undercuts the intended benefits of streamlined imports. Attention also focused on the overall regulatory framework targeting digital platforms in South Korea. The Korea Fair Trade Commission (KFTC) proposed stricter oversight on market-dominant online platforms, and although revisions followed feedback from US stakeholders, the CSI maintains that these changes still put US companies at a disadvantage. Industry critics argue that aggressive fines, invasive investigations against US firms, and additional hurdles from telecommunications laws—such as mandatory local representatives and network usage agreements—create an uneven competitive landscape. These measures potentially violate obligations under the Korea-US Free Trade Agreement (KORUS) and present operational challenges, especially when compared to the regulatory treatments afforded to Chinese e-commerce competitors.
Moreover, South Korea’s export controls on location-based data, which involve complex licensing processes for geospatial or location-based data, restrict access for foreign companies.
These unique restrictions hinder US firms from obtaining essential data for their services and contribute to a broader critique of South Korea’s regulatory practices. With reciprocal tariffs scheduled to take effect on April 2 as part of efforts to address perceived unfair trade practices, these issues remain a critical focus as US policymakers reassess economic and regulatory engagements with South Korea.
References for this Development
US industry group calls on USTR to urge Korea retract online platform regulation proposals
Korea Times | English | News
美상의, 美정부에 韓 압박 촉구…"기업인 처벌 과도"
US Chamber of Commerce Urges US Government to Pressure Korea… “Excessive Punishment of Businessmen”
Hankyung | Local Language | News
U.S. industry group calls on USTR to urge S. Korea to retract online platform regulation proposals
Yonhap | English | News
U.S. industry group calls on USTR to urge S. Korea retract online platform regulation proposals
Yonhap | English | News
U.S. industry group asks USTR to help reduce or eliminate S. Korea's 'screen quota' system
Yonhap | English | News
(LEAD) U.S. industry group asks USTR to help reduce or eliminate S. Korea's 'screen quota' system
Yonhap | English | News
'카카오T 대리' 기사, 승객 성범죄…플랫폼은 무슨 죄?
'Kakao T Agent' article, passenger sexual crime... What crime did the platform commit?
Digital Daily | Local Language | News
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Mitsubishi Motors and Foxconn Forge Strategic EV Alliance
Mitsubishi Motors intends to form a strategic partnership with Foxconn, also known as Hon Hai Precision Industry Co., to lower production costs by having Foxconn manufacture its electric vehicles. The company plans to announce the collaboration in the coming weeks, and the vehicles produced by Foxconn will be marketed under Mitsubishi’s EV brand, although the specific models have yet to be identified.
Foxconn is poised to make a significant entry into the competitive EV market by targeting rivalry with Chinese manufacturers and exploring potential collaborations with other Japanese automakers, including Nissan and Honda.
In parallel, Mitsubishi will continue operating its current production facilities while working with Foxconn to enhance manufacturing efficiency, thereby freeing up resources to invest in new technologies as production expenses are reduced.
Mitsubishi will extend its collaboration with Hon Hai to the Oceania region, where EVs developed by Hon Hai will be marketed under the Mitsubishi brand in Australia and New Zealand.
The partnership aims to lower development and production costs while expanding Mitsubishi’s product range, with a particular emphasis on SUVs and sedans.
This initiative complements Mitsubishi’s ongoing collaborations with Honda and Nissan in the EV space.
Although Mitsubishi once considered a merger with these companies, it has maintained its independence while continuing to work with both on EV software development. Hon Hai also demonstrates a broader interest in automotive partnerships, actively pursuing a contract with another Japanese automaker for EV production that could pave the way for future multi-manufacturer collaborations.
References for this Development
三菱自動車、EV生産を台湾・鴻海に委託へ コスト抑制などを狙う
Mitsubishi Motors to outsource EV production to Taiwan's Hon Hai in an effort to cut costs
Mainichi Shimbun | Local Language | News
三菱自動車 台湾鴻海とEV協業へ
Mitsubishi Motors to collaborate with Taiwan's Hon Hai on EVs
Yahoo News Japan | Local Language | News
三菱自動車が台湾鴻海と協業へ EV生産委託で商品力強化狙う 月内にも発表
The Sankei News | Local Language | News
三菱自動車が台湾・鴻海からＥＶ車両、オセアニアで販売へ…ホンダ・日産以外にも協業広げる
Yomiuri Shimbun | Local Language | News
Mitsubishi Motors to ask Taiwan's Hon Hai to produce EVs: sources
Kyodo News | English | News
台湾・鴻海、三菱自のEV受託生産へ 日本企業向けは初
Taiwan's Hon Hai to take on Mitsubishi Motors' EV production contract, first for Japanese company
Nikkei | Local Language | News
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Vietnam's Strategic Pilot for Digital Currency Regulation
Vietnam's evolving regulatory landscape for digital asset management reflects a commitment to support innovation while safeguarding financial security.
Vietnam's Ministry of Finance, led by Vice Chairman Bui Hoang Hai of the State Securities Commission, has launched a pilot program for issuing and trading digital currencies and crypto assets.
The pilot program aims to develop a comprehensive legal framework that supports innovation in the crypto sector while actively managing financial security risks. A coordinated approach involving the Ministry of Finance, the Public Security, and the State Bank will monitor cryptocurrency exchanges and mitigate risks such as money laundering and terrorist financing. The program will operate on a limited, controlled scale with restricted participation from management agencies, aligning with international practices while addressing local concerns.
Currently, Vietnam does not have a specific legal framework to define or categorize digital assets like cryptocurrencies.
Existing regulations primarily cover fiat-related instruments such as bank prepaid cards and e-wallets, which creates uncertainties in tax enforcement and asset classification. This absence of clear legal definitions has driven cryptocurrency businesses to register in jurisdictions like Singapore or the United States, leading to competitive disadvantages and potential tax revenue losses for Vietnam. The Ministry of Finance is working to clarify these definitions to enforce tax policies, including value-added tax, corporate income tax, and personal income tax on digital asset transactions.
The initiative also responds to the rapid growth of the cryptocurrency market.
The Vietnam Blockchain Association predicts that by 2024 approximately 17 million individuals in the country may own cryptocurrencies, positioning Vietnam as the seventh largest globally in terms of crypto asset ownership. Although transaction volumes slightly contracted from $120 billion in 2023 to over $105 billion, the momentum in digital asset trading remains strong. The pilot program is structured to assess the feasibility of managing digital assets, facilitate capital mobilization, and enhance market transparency and investor protection.
References for this Development
Đề xuất Bộ Tài chính, Công an, Ngân hàng Nhà nước cùng quản lý sàn giao dịch tiền mã hóa
VN Express | Local Language | News
Đề xuất Bộ Tài chính, Công an, Ngân hàng Nhà nước cùng quản lý sàn tiền số
VN Express | Local Language | News
Bộ Tài chính: Mua bán tài sản số sẽ phải đóng thuế
Ministry of Finance: Buying and selling digital assets will have to pay tax
VTV News | Local Language | News
Bộ Tài chính: Giao dịch tài sản số sẽ phải đóng thuế
Ministry of Finance: Digital asset transactions will be taxed
Dantri | Local Language | News
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Taiwan's Balanced Strategy: Central Bank's Interest Rate Freeze and Housing Market Dynamics
Taiwan's central bank and housing market policies underscore a strategic approach to balancing financial stability with market growth amidst global uncertainties.
Taiwan's Central Bank has maintained its policy interest rate at 2% and decided against introducing further housing market credit controls.
The bank confirmed its decision on March 20, following earlier interventions that shifted the focus from additional credit restrictions to financial inspections. This approach supports a soft landing in a housing market that has cooled since the implementation of seven successive waves of selective credit controls beginning in September 2024.
The earlier credit control measures have notably reduced market activity.
Lower transaction volumes, slowed mortgage loan growth, and shifting buyer expectations attest to this change. Banks now manage real estate lending independently as financial inspections intensify, resulting in tighter lending conditions. Although first-time buyers receive support, overall market sentiment remains cautious due to the constrained availability of mortgage loans.
Data show that the concentration of real estate loans in the banking sector has slightly decreased to about 37.1%, a level still considered high and subject to further monitoring.
Financial inspections have influenced banks' lending practices, causing mortgage interest rates to diverge from broader market trends. The combination of stringent lending practices, a cooling housing market, and altered buyer expectations has contributed to reduced home price growth and limited sales volumes.
Industry experts have observed that the existing credit controls and the central bank's ongoing emphasis on regulatory compliance have reshaped public expectations regarding housing price increases.
Even with a rebound in the service industry and domestic economic growth forecasts of 3.05%, the housing market continues to experience softer demand and lower investment activity. The authorities remain focused on ensuring financial stability amid ongoing global uncertainties and domestic challenges.
External factors such as rising uncertainties around US policy and trade dynamics, along with geopolitical tensions, have fostered an environment of increased caution.
By freezing interest rates and focusing on financial inspections rather than imposing additional credit restrictions, the central bank pursues a broader strategy to manage risks in both the housing market and the wider economy while closely monitoring domestic inflation, housing loan concentrations, and buyer sentiment.
References for this Development
央行不加碼打炒房了！營建股集體大漲 這兩檔衝漲停
United Daily News | Local Language | News
《金融》央行佛心不打房？業者：金檢威力不亞於信用管制
Yahoo Finance | Local Language | News
央行打房奏效！ 今年五大銀行新增房貸年減234億元
Yahoo Finance | Local Language | News
打房後「蛋黃區買盤兩極化」 大安房仲看：2種人持續購屋
ETtoday | Local Language | News
名家論壇》徐佳馨／央行不打房的如意算盤
Experts Forum》Xu Jiaxin/The central bank’s wishful thinking of not hitting the housing market
The China Post | Local Language | News
快訊／利率連4凍！ 央行未再推第8波房市管制
ETtoday | Local Language | News
央行利率連4凍但尚無寬鬆條件 楊金龍關鍵問答一次看
Central News Agency | Local Language | News
央行大發慈悲沒再出手，已被打趴的房市看到曙光？專家提醒一點，短期仍難指望
The Storm Media | Local Language | News
央行為何沒再打房？ 楊金龍：房市開始扭轉、希望軟著陸
Yahoo Finance | Local Language | News
金檢取代第八波信用管制 房貸資金將一路緊縮到第四季
Liberty Times Net | Local Language | News
打炒房有效！楊金龍首度鬆口「房市正進行修正」、「軟著陸」成形
United Daily News | Local Language | News
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Yahoo Finance | Local Language | News
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The Storm Media | Local Language | News
央行未祭第8波房市管制 營建股明天要漲？分析師：利多效果有限
Yahoo Finance | Local Language | News
楊金龍認為房市正在「軟著陸」，但不動產貸款集中度37%還是太高
The Storm Media | Local Language | News
央行利率連4凍 未再推第8波房市管制
TTV News | Local Language | News
央行利率連4凍、未祭出第八波打房！ 楊金龍笑喊：Mr.surprise可以除名了
Yahoo Finance | Local Language | News
央行未祭新手段 5大房仲同聲：強化金檢仍抑制房市
ETtoday | Local Language | News
2025年房價會降嗎？專家分析央行最新政策，有1大風險要小心
The Storm Media | Local Language | News
金檢取代信用管制 楊金龍：房市正進行修正
Liberty Times Net | Local Language | News
央行利率連4凍 未加碼打炒房
Liberty Times Net | Local Language | News
估2027前管制不鬆綁 帥過頭：楊金龍希望房價跌2成↑
ETtoday | Local Language | News
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South Korea Implements Major National Pension Reform Amid Demographic Shifts
Pension reform in South Korea introduces significant changes to the National Pension Act to address sustainability concerns amid demographic shifts.
South Korea’s National Pension Act underwent its first major reform in nearly 18 to 20 years as the National Assembly approved changes that will increase both the pension contribution rate and the income replacement rate.
The government will raise the contribution rate from 9 percent to 13 percent gradually, increasing by 0.5 percentage points annually over an eight-year period beginning in 2026. In addition, the income replacement rate will rise from 40 percent to 43 percent starting next year, ensuring that future pension payouts cover a higher proportion of pre-retirement earnings for retirees.
The reform also adjusts noncontributory credit periods and recognizes insured periods more broadly.
For example, military service credit will extend from 6 months to 12 months, and childcare credits will now benefit the first child instead of only families with multiple children. These measures provide additional support for the cost of childcare and offer extended credit for military service within the pension scheme.
Bipartisan support enabled the legislative package’s passage with votes ranging from 193 to 194 in favor, supported by significant abstentions and a smaller minority opposing.
Negotiations between the ruling People Power Party and the main opposition Democratic Party produced an agreement that formed a special parliamentary committee with members from both parties. This committee will oversee further structural reforms, including discussions on implementing an automatic adjustment mechanism to help the system adapt to evolving demographics and economic indicators.
An analysis of the pension system’s historical trajectory shows that the income replacement rate was initially set at 70 percent but was reduced in subsequent reforms in 1998 and 2007, with planned changes lowering the replacement rate further by 2028.
In contrast, the most recent reform reverses that downward trend by increasing the replacement rate, which is expected to raise monthly pension payments to about 1.32 million won for retirees, up from 1.23 million won under the current rules.
The adjustments address long-standing concerns over the pension fund’s sustainability in the face of a declining birth rate and an aging population.
Without reform, projections indicated that the pension fund would enter a deficit around 2041 and be depleted by 2055. The new measures postpone depletion until approximately 2064 and may extend the fund’s longevity further if returns improve. The reforms combine increased premium contributions with higher benefit payouts to tackle the structural challenges of the pension system while delaying financial shortfalls over the coming decades.
References for this Development
Rival parties agree on pension reform plans
Joongang Ilbo | English | News
'평균 연령 57세' 국회의 연금개혁…3040 의원들은 대거 반대표
'Average age 57' National Assembly's pension reform... 3040 lawmakers vote in large numbers against
Joongang Ilbo | Local Language | News
18년만의 연금개혁 국회 통과...젊은 의원은 반대 많았다
Pension reform passes through the National Assembly after 18 years... many young lawmakers opposed
Joongang Ilbo | Local Language | News
[속보] 18년 만의 연금개혁…'더 내고 더 받는' 국민연금법 본회의 통과
Joongang Ilbo | Local Language | News
Assembly passes bill for first hike in pension payments in 28 years
Korea Herald | English | News
National pension subscribers to pay more, receive more under first reform in 18 years
Korea Times | English | News
한동훈 "국민연금 개혁안 반대…청년 부담으로 기성세대 이득"
Joongang Ilbo | Local Language | News
[사진] 연금개혁 손잡은 여야 원내대표
[Photo] Ruling and opposition party floor leaders join hands on pension reform
Joongang Ilbo | Local Language | News
국민연금법 18년만에 개정했지만..."추가 재정 안정책 필요"
Money Today | Local Language | News
Rival parties pass first national pension reform in 18 years
Joongang Ilbo | English | News
(2nd LD) National Assembly passes pension reform proposal 1st overhaul in nearly two decades
Yonhap | English | News
(3rd LD) National Assembly passes pension reform proposal 1st overhaul in nearly two decades
Yonhap | English | News
월급 309만원 직장인, 연금 평생 5000만원 더 내야…얼마 더 받나?
Money Today | Local Language | News
S. Korea's rare pension reform to delay fund depletion by 9 yrs by 'paying more, receiving more'
Yonhap | English | News
[Q&AI] 18년만에 연금개혁…어떤 것들이 바뀌나
[Q&AI] Pension reform after 18 years… What changes?
ZD Net Korea | Local Language | News
崔 권한대행 "국민연금 모수개혁 뜻깊어…구조개혁도 추진돼야"
Money Today | Local Language | News
S. Korea's rival parties reach final agreement on pension reform
Chosun Ilbo | English | News
(URGENT) National Assembly passes pension reform proposal 1st overhaul in nearly two decades
Yonhap | English | News
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