US Treasury's Yellen sees Vietnam as key partner in 'friendshoring' supply chains

23 Sept 06:15 Key points summarised by AI

US Treasury Secretary Janet Yellen identified Vietnam as a pivotal partner in the US 'friendshoring' strategy, aimed at expanding green energy and fortifying supply chains.
Yellen underscored the robust growth in trade and investment between the two nations, highlighting accelerating US investment in Vietnam's semiconductor sector.
The 'friendshoring' initiative seeks to diversify global supply chains and reduce reliance on China, with Yellen emphasizing its inclusive nature for various economies.
The US is also supporting Vietnam's climate objectives through a $15 billion Just Energy Transition Partnership, facilitating its transition to a net-zero emissions economy by 2050.

Myanmar extends martial law for another 90 days

Today 10:44 Key points summarised by AI

Myanmar's President Min Aung Hlaing extended martial law for an additional 90 days across 55 townships.
Administrative and executive powers under the decree were transferred to Gen Ye Win Oo, commander-in-chief of the armed forces.
This marks another extension of martial law, though the number of designated townships was slightly reduced from 58 to 55.
The affected townships are primarily regions under the control or occupation of various ethnic armed groups and resistance forces.