St. Petersburg forum looks to create economy of trust
The plenary session of the 22nd St. Petersburg International Economic Forum (SPIEF-2018), the most important event of the forum, took place in Russia on May 26 under the theme “Creating an Economy of Trust”.
At the plenary session of the 22nd St. Petersburg International Economic Forum (Photo: VNA)
Moscow (VNA) – The plenary session of the 22nd St. Petersburg InternationalEconomic Forum (SPIEF-2018), the most important event of the forum, took placein Russia on May 26 under the theme “Creating an Economy of Trust”.
Prominent guests include French PresidentEmmanuel Macron, Japanese Prime Minister Shinzo Abe, Chinese Vice PresidentWang Qishan, and Managing Director of the International Monetary Fund (IMF)Christine Lagarde.
Addressing the event, President Vladimir Putinsaid Russia is always aware that it is part of the global economy.
He said competition is inevitable in economy,but countries need to show mutual respect on the basic of constructive andwin-win dialogues.
French President Emmanuel Macron reiterated thattrust plays an important role in the global economy. He admitted that manydifferences remain between France and Russia, but the two countries also shareviewpoints on some issues and are working to build a roadmap to enhancebilateral cooperation.
Participants discussed how to build trust ininternational rapports in general and economic relations in particular.
The SPIEF–2018 drew an estimated of nearly10,000 participants from Russia and other countries from May 24-26, includingheads of state and government, politicians and corporate leaders.
The forum aims to promote constructive dialoguesfor policymakers, corporations and experts.
Relevant events focused on four key categories –“The Global Economy in an Era of Change,” “Harnessing Russia’s GrowthPotential,” “Human Capital in the Digital Economy” and “Technology forLeadership.”
The Vietnamese delegation led by Chairman of theCommunist Party of Vietnam Central Committee’s Commission for Economic AffairsNguyen Van Binh had a bilateral meeting with IMF Director Christine Lagarde onMay 25 to discuss cooperation orientations between the IMF and Vietnam in thecoming time.
On the second working day of the forum,Vietnamese Ambassador to Russia Ngo Duc Manh witnessed the signing betweenVietnamese entrepreneurs living in St. Petersburg and local authorities of aproject on repairing and upgrading a complex of hotels with over 130 rooms in thecity with an initial investment of over 10 million USD.-VNA
Vietnam values the ASEAN – Russia partnership and is making efforts for the substantive and effective development of the ties, stated Deputy Foreign Minister Nguyen Quoc Dung.
Vietnam is among 120 countries taking part in the 22nd annual International Economic Forum in St. Petersburg (SPIEF–2018) which opened on May 24 in the presence of Russian President Vladimir Putin.
The Vietnamese Government is working out measures to further improve the business environment for the country to jump 8-18 steps from the current 68th place in the World Bank’s Doing Business Rankings.
Chairman of the Communist Party of Vietnam Central Committee’s Commission for Economic Affairs Nguyen Van Binh delivered a speech at the opening of the 22nd International Economic Forum in St. Petersburg (SPIEF–2018), Russia on May 24.
Deputy Director General of the Vietnam News Agency Le Quoc Minh attended an international summit of news agencies themed “Future of Journalism in Times of New Challenges” in St. Petersburg on May 24.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
At the plenary session of the 22nd St. Petersburg International Economic Forum (Photo: VNA) 
