CLMV countries to grow stronger this year: Thai bank
The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries, namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks.
Bangkok (VNA) – The Economic Intelligence Centre of the SiamCommercial Bank forecasts the CLMV countries, namely Cambodia, Laos, Myanmar andVietnam, will gain a stronger growth momentum in 2023, but remain below itsgrowth potential prior to the COVID-19 outbreaks.
The rebound will be uneven across countries, depending oneconomic fundamentals and country-specific risks, the centre said in itsFebruary 1 report.
SCB EIC expects that the Cambodian economy will grow 5.5% thisyear, 3.0% in Laos and Myanmar, and 6.2% in Vietnam.
According to the report, domestic demand and tourism will bekey drivers for CLMV economic recovery in 2023.
Domestic demand will gain support from improvements in thelabour market, as seen in Vietnam’s Q4/22 employment soaring to its highestlevel since the COVID-19 outbreaks. Meanwhile, the service sector will benefitfrom rising tourist arrivals this year, particularly Chinese visitors who madeup about 30-35% of total foreign tourists in 2019.
China has authorised outbound group tours traveling toCambodia and Laos starting from February 6, 2023, and is expected to add moredestinations to the list soon. In particular, Cambodia and Vietnam are poisedto benefit the most from tourism rebound, considering the high contribution oftourism (both domestic and foreign) to GDP at 18.2% and 9.8%, respectively./.
The 5th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) and the 6th Cambodia – Laos – Myanmar – Vietnam (CLMV) Tourism Ministers' Meetings kicked off in Siem Reap province, Cambodia on November 3 under the online chair by Cambodian Prime Minister Samdech Techo Hun Sen.
The 6th meeting of tourism ministers of Cambodia, Laos, Myanmar and Vietnam (CLMV) in Cambodia on November 3 adopted a three-year action programme on tourism cooperation which further focuses on promoting the realization of 'Four Countries, One Destination”.
Thailand has set up war rooms staffed by senior officials of the Ministry of Commerce and representatives from private organisations to spur exports, tackle obstacles to trade, and curb the negative impact of a global economic slowdown in 2023.
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.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Illustrative image (Photo: asean.org) 
