Phnom Penh (VNA) – About 55,000 garment-textile workers and 4,300 others working in the tourism sector in Cambodia, who have become jobless by the COVID-19 pandemic, each will receive monthly financial support worth 40 USD through their Wing Specialised Bank accounts next week. The Ministry of Labour’s spokesperson Heng Sour said the government has already allocated its budget to 126 factories and 53 hotels that have registered for support to their workers, the Khmer Times reported. According to the Ministry of Economy and Finance, approximately 300-350 million USD has been delivered to different economic sectors. Meas Sok Sensan, spokesperson of the Ministry of Economy and Finance, said that this fund is not only for workers who have lost jobs but also for poor families affected by the economic downturn. Figures unveiled by the Garment Manufacturers Association in Cambodia showed that 180 factories have suspended their operations and 60 others are also in the … [Read more...] about Cambodian workers affected by COVID-19 to receive support
The cuts came amid bank credit growth in the first quarter of only 1.1 per cent compared to 2.28 per cent in the same period last year as many businesses scaled down or stopped operations, experts said. … [Read more...] about VN ready to be world’s factory, but is the world?
Hanoi (VNA) - The northern province of Ha Nam has become an attractive destination for domestic and foreign investors thanks to the locality’s transparent investment policies and mechanisms. In recent years, Ha Nam has focused on selecting investors with sound financial capacity that use advanced production technologies. To fully tap its potential, the locality is focusing on upgrading and developing modern transport infrastructure systems connected to neighbouring localities to form a synchronous network, serving the locality’s socio-economic development roadmap. It has paid heed to improving the quality of services in industrial parks (IPs) and vocational training, thus facilitating production and business activities while meeting the demand for skilled human resources. Attention has also been paid to accelerating administration reforms, and taking measures and incentives to support businesses. The IPs in Ha Nam with a high occupancy rate are Dong Van IPs I, II, … [Read more...] about Ha Nam becomes attractive destinations for investors
Farmers have replanted old coffee trees with new coffee varieties with high yields, good quality, and disease resistance. The TR4 variety, for instance, is harvested in the dry season, providing easy conditions for farmers to process. … [Read more...] about Coffee farms see high yields from new trees
Deputy Minister of Planning and Investment Tran Quoc Phuong Vietnam has controlled COVID-19 well, and it is now favourable for the country to formulate new economic development scenarios. Could you elaborate on them? The pandemic had grave impacts on Vietnam’s socio-economic situation, making it hard to accomplish all 2020 socio-economic development goals set by the National Assembly. Thus the Ministry of Planning and Investment (MPI), assigned by the government, has delivered a report on supplementary assessment on the results from the implementation of the country’s socio-economic development plan (SEDP) for 2019, and on the implementation of the SEDP for 2020. Accordingly, two growth scenarios have been formulated, with GDP to rise either by 4.4-5.2 per cent or by 3.6-4.4 per cent, depending on how the pandemic will be controlled both in Vietnam and in its major economic partners. … [Read more...] about Vietnam ready for swift actions to boost economy