WB retains growth forecast for Cambodia at 5.5% this year
The World Bank maintained its economic growth forecast for Cambodia at 5.5% in 2023 in its East Asia and Pacific economic update report released on October 2.
Phnom Penh (VNA) - The World Bank maintained its economic growth forecastfor Cambodia at 5.5% in 2023 in its East Asia and Pacific economic updatereport released on October 2.
The Southeast Asian country's growth is driven by garmentexport, tourism, agriculture, and construction and real estate.
Aaditya Mattoo, chief economist of the World Bank's EastAsia and Pacific Region, said Cambodia's economic outlook remained positive,boosted mainly by the recovery of the services sector, especially tourism andimprovements in agricultural production.
In 2024, the economy is expected to improve further, growingat 6.1% as goods exports are projected to also improve and gradually diversify,he said.
Mattoo said foreign direct investment (FDI) inflows willlikely be boosted by the new law on investment and newly ratified free tradeagreements./.
The National Bank of Cambodia (NBC) announced on September 6 that it has successfully auctioned 10 million USD in an effort to stabilise the Cambodian riel against the US dollar.
The National Bank of Cambodia (NBC) announced on September 19 that it will continue holding two auctions of US dollars (each worth 10 million USD) on September 20 and 22, to ensure exchange rate stability, maintain the purchasing power of the Cambodian riel, and support the economic recovery process following the COVID-19 pandemic.
Cambodia has set a target of becoming a high-income country by 2050, stated Cambodian Prime Minister Hun Manet while addressing the 78th session of the UN General Assembly in New York on September 22.
China, Vietnam and Thailand shipped more than 11.5 billion USD worth of goods to Cambodia, making up around 70.8% of the country’s total imports of 16.3 billion USD in the first eight months of 2023, according to the General Department of Customs and Excise (GDCE) of Cambodia.
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: phnompenhpost.com) 
