World Bank predicts 4 percent growth for Cambodia in 2021
Cambodia's economy is projected to contract 2 percent in 2020 but recover to a four percent growth next year, the World Bank forecast in its latest economic update for Cambodia entitled Restrained Recovery.
Vehicles on a street in Phnom Penh capital of Cambodia (Photo: AFP/VNA)
Phnom Penh (VNA) – Cambodia's economy is projected to contract2 percent in 2020 but recover to a four percent growth next year, the WorldBank forecast in its latest economic update for Cambodia entitled RestrainedRecovery.
The bank said economic activitiesin the country are gradually returning to normal levels as social distancingmeasures are relaxed.
Consumption is being partlysupported by government intervention, while inflation remains subdue andforeign direct investment inflows to projects in non-garment industries andagriculture have been rising thanks to free trade agreements that Cambodia hassigned with partners.
According to the report, althoughtotal exports have been hit by the pandemic, exports of bicycles, electricalparts and vehicle parts and accessories are rising, and the export of rice andagricultural products have surged.
Domestic tourists have alsosupported a partial recovery of the travel and tourism industry, it said.
However, WB country manager forCambodia Inguna Dobraja said significant uncertainty remains to Cambodia’sgrowth outlook. According to her, the most important policy goal must be tourgently regain jobs lost and suspended due to the pandemic./.
Cambodian Prime Minister Hun Sen has allowed AEON 1 mall in Phnom Penh to reopen on December 2, three days after it was temporarily closed to prevent the COVID-19 community outbreak.
Cambodia is exporting the first batch of fresh mangos to China this week after receiving a licence for exporting fruit to this giant market, announced the Cambodian Ministry of Agriculture, Forestry and Fisheries (MAFF).
Cambodian Prime Minister Hun Sen said that the Ministers of Health and Finance have already signed a deal to obtain 20 percent of a vaccine through COVAX.
The governments of Cambodia and the US have officially inked an exchange of notes on the addition of 66.2-million-USD in development grant of the US for Cambodia.
The European Investment Bank (EIB), the bank of the European Union (EU), will invest 80 million EUR (about 97 million USD) in the Irrigated Agriculture Improvement Project (IAIP) to extend water supply and irrigation networks in several provinces across Cambodia.
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.
Vehicles on a street in Phnom Penh capital of Cambodia (Photo: AFP/VNA) 
