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The export of wooden products, deemed among the spearhead sectors in Binh Duong, surpassed 1.7 billion USD in the period, up a mere 0.6 percent year-on-year but representing the lion’s share of the province’s export revenues. … [Read more...] about Binh Duong posts 2.6bn USD trade surplus in H1

Phnom Penh (VNA) – Cambodia collected 8,42 billion riel (about 2 billion USD) in national revenue in the first four months of 2020, up 10 percent against the same period last year. Local media on June 5 quoted the Cambodian Ministry of Economy and Finance, saying that of the aforementioned budget revenue, tax revenue reached about 7.1 billion riel (about 1.7 billion USD). The country spent 7,2 billion riel (about 1.7 billion USD) in the period, a year-on-year increase of 31 percent, the ministry said. Earlier, in March, to alleviate the shock caused by the COVID-19 pandemic to the national economy, the Cambodian government announced a reserve budget worth 2 billion USD to help the country's economic pillars, as well as support those working in the textiles and tourism sectors, who lost their jobs. However, the International Monetary Fund (IMF) has forecasted that Cambodia's gross domestic product (GDP) will experience negative growth of 1.7 percent in 2020./. … [Read more...] about Cambodia’s budget revenue reaches 2 billion USD in four months

Phnom Penh (VNA) - 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. Minister of Tourism Thong Khon reportedly said during the launch of additional safety measures for tourism-based business that the pandemic has hardest hit the tourism sector around the world and Cambodia will see its foreign and local visitors decline by about 70 percent and 50 percent respectively this year. During the first four months, Cambodia welcomed 1.16 million foreign visitors, a decline of 52 percent compared with the same period last year, he said. The country's Ministry of Tourism this week has introduced additional safety measures for hotels, guesthouses, restaurants, resorts and transportation to contain the pandemic spread after signs of tourism activities are rebounding. So far, around 3,000 tourism-related businesses in Cambodia have been closed, leaving more than 45,400 people … [Read more...] about Cambodia to lose 3 billion USD in revenue from tourism sector

A policeman (C) and people wear facemasks, used as a preventive measure against the COVID-19 novel coronavirus, at a market in Phnom Penh in March this year. (Photo: AFP) The bank said the loan will be used to strengthen Cambodia's health care system, increase social assistance to the poor and vulnerable, and provide economic stimulus to businesses, including small and medium-sized enterprises (SMEs). … [Read more...] about ADB approves 250 mln USD loan to back Cambodia’s COVID-19 response

As the EVFTA is due to take effect on August 1, the event aimed to provide French businesses with information on Vietnam’s trade and investment policies following the deal, as well as on the potential market with a population of nearly 100 million and the gateway to ASEAN. … [Read more...] about Webinar seeks ways for firms of Vietnam, France to capitalise on EVFTA