More News, Rumors and Opinions Friday Afternoon 7-14-2023
TNT:
Harambe: Vietnam’s digital economy to continue booming | Sci-Tech | Vietnam+ (7/14/23)
Vietnam’s digital economyis projected to grow fastest in Southeast Asia, reaching 50 billion USD by 2025, a report said.
It would be aided mainly by growth in e-commerce, with platforms like Shopee and Lazada and top retailers like Co.opmart moving their businesses online, said a report of the HCM City People's Committee about e-commerce early this week.
The boom in e-commerce has accelerated the country’s digital transformation of businesses in logistics, delivery, tourism, finance, media, and entertainment.
Delivery services have grown rapidly thanks to super apps like Grab and Baemin.
Online payment systems like e-wallets, e-transaction gates and e-banking have also developed speedily following a surge in online services, with 61 per cent of online purchases used cashless payments last year.
But digital transition does face challenges due to underdeveloped digital infrastructure, especially the lack of a standardised, synchronised national database.
Besides, small and medium-sized enterprises have not capitalised on digital opportunities despite accounting for a lion’s share of the country’s businesses.
The outdated legal framework, with old policies still regulating digitised business models, also stymies the growth of businesses.
An inadequate regulatory regime poses challenges for authorities and affects customers’ benefits.
To tackle these problems, HCM City has laid out a plan for “Developing digital economy, sharing economy, and circular economy” that encourages enterprises to adopt technology and new operational methods to create sustainable goods and services, its People’s Committee said.
There are also several programmes to help start-ups and enterprises digitise their businesses, especially in key sectors like fintech (financial technology), edutech (education technology), smart agriculture, and smart tourism.
https://en.vietnamplus.vn/vietnams-digital-economy-to-continue-booming/256402.vnp
************
Tishwash: Parliament will resume its sessions tomorrow, and "important and controversial" laws await it
7/14/2023
Tomorrow, Saturday, the House of Representatives will resume its regular sessions after the end of its legislative recess, which lasted for a full month. Parliament is awaiting a package of important laws that have political differences.
The Presidency of Parliament published the agendas for the next Saturday and Monday sessions, for the legislative chapter that awaits a number of important and controversial laws, most notably the oil and gas laws, the general amnesty and the fight against domestic violence, and the intelligence apparatus and counter-terrorism laws.
The House of Representatives has previously been subjected to many popular criticisms due to the delay in enacting important laws since the previous parliamentary sessions.
Raed al-Maliki, a member of the Parliamentary Legal Committee, said, "There are important laws awaiting the House of Representatives in order to enact them, especially laws that have political differences, and they have been postponed since previous sessions because of those differences on the political, legal and technical level."
He added, "These controversial laws directly affect the life of the citizen, and that is why there is importance to enacting them and resolving disputes over them, and for this there will be dialogues and negotiations in order to legislate these laws, but the matter will not be easy and will not be devoid of renewed differences within the dome of Parliament between the blocs, even within the One Coalition. LINK
************
Courtesy of Dinar Guru
Militia Man It's fascinating at this time...At this stage what we're looking for, because of the budget hopefully going to be exposed by Sunday...They're going to show us what's involved in that. We hope it's an International exchange rate. That's what we're looking for.
Mnt Goat Article: "THE DOLLAR RATE WILL FALL AGAINST THE DINAR AFTER THE IMPLEMENTATION OF THE PROVISIONS OF THE FEDERAL GENERAL BUDGET" I also believe there are provisions in the budget for the project to delete the zeros and we will need the budget opened to get this work done and move ahead.
Man Who called the Dot-Com CRASH AND The 08' CRASH WARNS! "ANOTHER EPIC" Crash Is Coming.
Greg Mannarino: 7-14-2023
The American Borrowing Binge has Ended
Heresy Financial: 7-14-2023
It looks like the American borrowing binge may have finally ended, or at least it is taking a breather. The Federal Reserve recently released the numbers for consumer credit as of May 2023.
And over here, you can see that the non-revolving debt numbers dropped by 2.4%. Now, obviously, that is not a huge drop.
However, it is significant because this is the first time nonrevolving credit has decreased since April 2020.
Timecodes
0:00 Introduction
0:23 Changing Trends in Consumer Credit
1:08 Long-Term Debt Trends in the United States
5:10 Impact of Rising Interest Rates
7:03 Financial Strain on American Households
8:20 Deflationary Forces