ADB forecasts 7 percent gross domestic product (GDP) growth for Cambodia in 2015 and 7.2 percent in 2016, according to the bank’s Asian Development Outlook Update report released on September 22.
The Asian Development Bank (ADB) forecasts 7 percent gross domestic product (GDP) growth for Cambodia in 2015 and 7.2 percent in 2016, according to the bank’s Asian Development Outlook Update report released on September 22.
In its March report, the bank expects growth of 7.3 percent for 2015 and 7.5 percent for 2016.
Cambodia’s economy is expected to remain strong, thanks to the expansion of garment manufacturing, construction and services, particularly in tourism, finance and real estate, said ADB Senior Country Economist Jan Hansen.
He noted that tourism and exports slowed in the first half of the year while the agricultural sector was affected by prolonged rainfall.
In the first six months of the year, Cambodia’s garment and leather footwear exports climbed 11 percent year-on-year, tapering 4.5 percent compared to the same period last year.
Export revenue in the first six months rose 14 percent compared to last year’s growth of 18.3 percent, spurred by fierce garment industry competition with other markets and the appreciation of the USD.
The report stated that growth of foreign tourist arrivals softened to 4.6 percent in the first half from 5.3 percent one year ago.
According to the Council for the Development of Cambodia (CDC), investment projects landing in the country in the first half of the year registered 3.3 billion USD in total capital. Most of the projects were in infrastructure construction, industry, agriculture and tourism. China led the investors with 254 million USD, followed by Vietnam with 28 million USD and Japan with 25 million USD.-VNA
Asia’s small- and medium-sized enterprises (SMEs) need finance to help them grow into dynamic, internationally competitive companies, said a new report from the Asian Development Bank (ADB).
Thailand’s gross domestic product (GDP) will grow by 3.1 percent this year, lower than the earlier projected growth of 3.2 percent this year and 4.2 percent next year.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Cambodia's exported rice (Source: VNA)
