Oxford Economics: Malaysia’s economy could shrink by 6 percent in 2020
Malaysia’s economy is forecast to shrink by 6 percent this year due to the impacts of COVID-19 pandemic, but it will rebound 6.6 percent next year, according to the Global Economic Outlook report from Oxford Economics.
Hanoi (VNA) ⛄- Malaysia’s economy is forecast to shrink by 6 percent this yeardue to the impacts of COVID-19 pandemic, but it will rebound 6.6 percent nextyear, according to the Global Economic Outlook report from Oxford Economics.
In its report issued on September21, Oxford Economics said though the nationwide movement control order inMalaysia compounded the economic damage in the second quarter, the payoff hasbeen apparent, with the pandemic situation currently in hand, which will aidthe economy in regaining its footing. Malaysia’s exports wouldbenefit from improving Chinese import demand and the electronics cycle.Nonetheless, the speed of its recovery will likely slow given current sluggishglobal demand, high unemployment and weak investment, it said. The report also said thoughthe Recovery Movement Control Order has been extended to December 31, almostall sectors have been allowed to operate. However, only a smallnumber of sectors are still restricted such as night clubs and entertainmentcentres. The restricted entry of foreign tourists has also caused difficulties for the tourism sector, which contributes to 15.2 percent of the country’sgross domestic product./.
Malaysian Prime Minister Muhyiddin Yassin met with visiting Chinese State Councilor and Defense Minister Wei Fenghe in Kuala Lumpur on September 7, during which they discussed cooperation between the two countries.
Japan and Malaysia on September 18 signed a mutual currency swap arrangement to allow each side to provide the other up to 3 billion USD to prevent a financial crisis, the Japanese Finance Ministry said.
Malaysia’s domestic tourism continued to record better performance last year, recording a double-digit growth of 12 percent to 92.6 billion RM (22.4 billion USD), according to Bernama news agency.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
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.
A view of Malaysia (Photo: Internet) 
