VIF Neighborhood News Digest: August 28, 2019

PAKISTAN

In first year, govt sees record high fiscal deficit: Dawn
August 28, 2019

The first year of the Pakistan Tehreek-i-Insaf (PTI) government concluded with a record 8.9 per cent fiscal deficit — perhaps the highest in the country’s history — as revenues plummeted while expenditures remained at the same level they were at the previous year, when expressed as a percentage of GDP. In absolute terms, however, expenditures broke previous records while revenues were stagnant. As a result, the fiscal deficit, which is the difference between revenues and exp­enditures of the federal government, came in at a record 8.9pc of GDP. As late as June 2019 the government had announced that it intended to keep the deficit at 7.1pc of GDP, whereas its target at the start of the year was set at 4.9pc. Since the country’s GDP is Rs38.6 trillion at current market pri­ces, each percentage point increase in the deficit numbers denotes significant slippage. Click here to read... [2]

AFGHANISTAN

‘No Timeline’ For Troop Withdrawal In Afghanistan: Trump: Sources: Tolo
August 28, 2019

US President Donald Trump at a press conference on the last day of G7 Summit in Biarritz, France, said there is no timeline for US forces’ withdrawal from Afghanistan. The negotiations between the US and the Taliban negotiators are underway in Doha, Qatar, with the hope to reach an agreement which will enable the withdrawal of part of US forces, almost 5,000 troops, from Afghanistan. Mr. Trump, however, said “whatever it is”, there is “no rush”. “We’re there, we’re really a peacekeeping force more than anything else, frankly. We could win that war in a very short period of time, but I’m not looking to kill 10 million people, Okay?” Mr. Trump said, repeating his recent controversial comments on winning the war in Afghanistan. Click here to read... [3]

BANGLADESH

Chinese companies keen to invest in Bangladesh: Dhaka Tribune
August 28, 2019

The country is expected to cater huge investment opportunities in power and energy sectors in future. A group of Chinese companies on Tuesday expressed their keenness in investing in different sectors in Bangladesh. They made the disclosure at a seminar on China-Bangladesh Investment Facilitation organised by PricewaterhouseCoopers (PWC) at The Westin Dhaka on Tuesday. William Yuan, Partner of Global China Business Network said they are looking for investment opportunities in Bangladesh. "There are a lot of opportunities in infrastructure development, energy sector and economic zones in Bangladesh," he also said. Click here to read... [4]

Myanmar

Myanmar woos Thai investors in Bangkok: The Myanmar Times
August 28, 2019

Myanmar is participating in regional connectivity initiatives in efforts to improve bilateral ties with its neighbours and promote investment and trade. Myanmar has implemented a number of significant reforms in the economic, political and social spheres aimed at creating new opportunities for investors, which includes those from Thailand, State Counsellor Daw Aung San Suu Kyi said in a video message delivered at the Myanmar Insight 2019 forum held in Bangkok last week. To complement the Myanmar Sustainable Development Plan, the Myanmar Investment Promotion Plan was launched to seek “dynamic, harmonious and inclusive growth while creating a more equitable and prosperous society through the promotion of responsible, quality investment”. Click here to read... [5]

Sri Lanka

Rs.1.2 Bn missing from CCF: PM appoints probe committee: Daily Mirror
August 28, 2019

Prime Minister Ranil Wickremesinghe is reported to have appointed a committee headed by his Secretary Saman Ekanayake to inquire into allegations that Rs.1.2 billion had disappeared from the Central Cultural Fund (CCF). This matter was raised by Power and Energy Minister Ravi Karunanayake at a meeting held prior to Tuesday's Cabinet meeting. The CCF is under the purview of Housing, Construction and Cultural Affairs Minister Sajith Premadasa, who is seeking to be the United National Party (UNP) presidential candidate. Click here to read... [6]

Bhutan

Another opportunity to work and earn in Japan: Kuensel
August 28, 2019

Ministry of Labour and Human Resources yesterday launched Technical Intern Training Programme (TITP) which is expected to engage youth to take up technical training internships in Japan. Labour Minister Ugyen Dorji said that the programme would not be implemented like the Learn and Earn Programme (LEP) that did not fare well and that the programme was different from the LEP. Unlike LEP, the ministry would directly implement TITP without involving agents or private partners. The programme is the outcome of the Memorandum of Cooperation signed between the ministry and the government of Japan in 2018 to engage youth as technical intern trainees in Japan. Click here to read... [7]

Nepal

Federal government’s reluctance to devolve power is reflected in small development projects: The Kathmandu Post
August 28, 2019

Even four years after the promulgation of the constitution that ensured federalism—the form of governance that devolves power to sub-national governments—the unitary mindset in Kathmandu continues to rule the roost, which experts say defeats the entire purpose of the federal design. One example among many are projects handled by the Department of Roads, an agency under the Ministry of Physical Infrastructure of the federal government. The Department of Roads has retained a large number of small roads and bridges—and almost all of its human resources—with it even though they should have been executed by provincial and local governments as per the constitution. Click here to read... [8]

China

Xi: People are best bridges for state exchanges: China Daily
August 28, 2019

At the start of the new semester in August, 105 students at Niles North High School in Skokie, Illinois, had chosen to learn Chinese as a world language. Four months ago, a group of over 40 students from this school received a letter in reply from President Xi Jinping encouraging them to make greater progress in studying Chinese. Click here to read... [9]

Will Hong Kong anti-government protests ruin city’s role in Beijing’s Greater Bay Area plan? Depends on whom you ask: South China Morning Post
August 28, 2019

August and September are usually busy months for clothing trader Michael Hui Wah-kit, whose international clients arrive in Hong Kong for fashion shows and trade events. Buyers from Australia and Europe come to him for the latest casual wear produced by his suppliers on the Chinese mainland and in Southeast Asia. Click here to read... [10]