Malaysian Prime Minister Datuk Seri Anwar Ibrahim. (Photo: Bernama)

Hanoi – Malaysian Prime Minister Anwar Ibrahim has warned that trade wars, tariffs, and sanctions are no longer just economic tools but have become weapons in the struggle for dominance, eroding trust and undermining the foundations of international cooperation.

In an article titled “The Global South Path’s to Economic Resilience”, published on Project Syndicate, Anwar noted that nations once seen as partners or market competitors now view each other merely as players in a global power struggle.

He wrote that with a new world order taking shape, countries must also recognise the growing challenges faced by nations across the Global South. Many mechanisms that once fueled their development are weakening, while development aid is being closely scrutinised by some of the world’s most powerful countries.

He warned that economic interdependence, once the backbone of global prosperity, has now become a source of tension. If this trend continues, connectivity itself can become a vulnerability, even for countries that have long thrived under globalisation.

As a trade-dependent nation, Malaysia acknowledges that global instability and protectionism make adaptability more crucial than ever, Anwar said.

However, he reaffirmed Malaysia’s commitment to sustainable, inclusive, and equitable growth, as well as its ambition to strengthen its position as a key hub for trade, investment, and technological innovation.

For these reasons, Malaysia has made the strategic decision to seek membership in BRICS, a bloc of major emerging economies, he added, emphasising that joining BRICS aligns with Malaysia’s goal of bridging the development gap between the Global North and South.

HCM City is now a regional specialised financial centre (Photo: VNA)

London (VNA) – Vietnam does not need to choose between a specialised or a comprehensive regional financial centre but can instead adopt a flexible approach to seize opportunities, said Dr. Ho Quoc Tuan, Senior Lecturer in Finance and Accounting at the UK’s University of Bristol.

Talking with the Vietnam News Agency’s reporter based in London ahead of Permanent Deputy Prime Minister Nguyen Hoa Binh’s visit to the UK from March 16-20, Tuan explained that financial centres traditionally split two paths: specialisation or diversification.

A specialised approach could position Vietnam as an ASEAN niche player, like Tel Aviv or Mumbai, focusing on select services, or as a global player akin to Dubai, Hong Kong, or Luxembourg. Alternatively, a diversified model could see Vietnam begin locally, like Lisbon or Atlanta, then grow to rival Bangkok or even London and New York.

Even if Vietnam aims to develop into a comprehensive financial centre, it can adopt Dubai’s specialised model to accelerate fintech services, particularly in AI/Machine Learning and digital assets – areas where Vietnam excels in training and application.

He cautioned, however, that Ho Chi Minh City and Da Nang should avoid “stepping on each other’s toes” in choosing areas of specialised development, adding that one could lead on fintech, and the other on AI.

Tuan also highlighted the importance of human capital, one of the five important factors to successfully build a financial centre, citing the Global Financial Centres Index, which ranks business environment, human capital, infrastructure, market development, and reputation as the key drivers of success.

The tax authority has stated that all systems are now running smoothly, ensuring seamless tax transactions for individuals, businesses and foreign entities. (Photo: baodautu.vn)

Hanoi – Vietnam’s electronic tax system has resumed full operations starting at 8am on March 17, after a temporary suspension for system upgrades and data restructuring, the tax authority announced.

The suspension, which lasted from 5pm on March 12 until 8am on March 17, was necessary to enhance tax management and implement structural changes.

During this period, certain services such as electronic tax payment (eTax), eTax Mobile and tax applications for individuals were temporarily halted, while other functions remained accessible.

Foreign businesses operating in Vietnam can now fully access the e-portal for foreign suppliers, which remained operational but may have experienced minor delays in processing transactions during the upgrade.

Director of the Department of Taxation Mai Xuan Thanh instructed tax departments to ensure secure data migration and a smooth transition, allowing businesses and individuals to resume using the e-tax system without disruption.