A view of Cambodia's Phnom Penh capital city (Source: VOD Archive)
Hanoi (VNA) – Cambodian Prime Minister Hun Senrecently predicted that the country’s economy may contract 1.9 percent thisyear due to the COVID-19 pandemic.
In a circular on budget planning for 2021-2023,he said Cambodia has recorded a strong fall in demand from its tradingpartners.
Its growth heavily relies on garment andfootwear exports, tourism, construction and real estate, and agriculture.However, garment and footwear exports and tourism have been hit the hardest bythe coronavirus outbreak.
Yet, the PM is still optimistic that Cambodia’seconomy will bounce back to 3.5 percent in 2021 thanks to the gradual recoveryof global economy and external demand.
He forecast inflation at a manageable level of2.8 percent this year and slightly up to 3.1 percent next year due to aprojected rise in international oil prices.
The World Bank said in its latest report lateMay that the Cambodian economy is likely to shrink between 1 percent and 2.9percent this year, which will be the slowest pace since 1994.
Meanwhile, credit rating agency Moody’s lastmonth predicted that the Southeast Asian economy may expand by about 0.3percent in 2020 and 6 percent next year./.
Cambodia will see a huge loss in revenue generated from tourism sector of around 3 billion USD this year due to the COVID-19 pandemic spread, Khmer Times reported.
Cambodia’s agriculture sector is unlikely to be able to substantially absorb laid-off workers from the garment and tourism industries, according to a World Bank report.
Cambodia is preparing another 12 million USD as assistance for jobless workers as factories remain closed, Cambodian Ministry of Labour and Vocational Training spokesman Heng Sour has said.
The European Union (EU), its member states and their financial institutions and agencies are mobilising 443 million EUR (503 million USD) in grants and loans to work with Cambodia in fighting COVID-19 and mitigating its socio-economic impacts.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
A view of Cambodia's Phnom Penh capital city (Source: VOD Archive) 
