Phnom Penh (VNA) - Cambodia's economic growth is projected to slow sharply to 2.5 percent in 2020 due to the impact of the COVID-19 outbreak, according to a World Bank's report released on March 31. After consecutively attaining an economic growth of 7.1 percent in recent years, the bank's East Asia and Pacific Economic Update said the outbreak caused sharp decelerations in most of Cambodia's main engines of growth in the first quarter of 2020, including weakened tourism and construction activity. “Real growth is projected to slow sharply to 2.5 percent in 2020, but the growth rate will recover to 5.9 percent in 2021 under the baseline scenario,” said the report. It added that the unprecedented global shock triggered by the pandemic has significantly affected the country’s economy in all its major sectors: agriculture, tourism, garments, textiles and construction”. The situation was not helped when the European Union said it will withdraw 20 percent of its … [Read more...] about WB: Cambodia’s economy to slow down due to COVID-19
2019 was also a year of groundbreaking administrative modernization. The Government Office opened the National Document Link, which allows 95/95 state agencies from central to local levels to send and receive electronic documents. The Information system for meeting and handling work of the Government (e-cabinet system) was officially put into use, contributing to saving time, costs, improving the effectiveness, management efficiency, administration of the Government, the Prime Minister and cabinet members. The Government has opened the National Public Service Portal, with eight groups of public services integrated and provided on this portal. It is estimated that the total amount of money saved by using the online system is about VND4,222 billion. … [Read more...] about Administrative reform efforts to contribute to ensuring human rights
Supermarkets (except for those with entertainment services or on-site dining); trade centres (including supermarkets as above, hospitals); traditional markets (including stalls selling food, fruit and vegetables, dried food); convenience stores, mini supermarkets (except for those with on-site catering); grocery stores. Tourist accommodation; agricultural, food, medicine supply chains; healthcare services. Postal services; banking services, electronic payment companies; television and telecommunications services; security services. Petrol stations, funeral services, cemeteries, cremation; detoxification establishments, social protection establishments. People are still required to wear masks and keep a distance of at least two metres when visiting these places and follow other instructions by the Ministry of Health on hygiene and disinfection. … [Read more...] about Which businesses will remain open during national social distancing?
Foreign investors were net sellers to the tune of VND130 billion ($5.5 million) on all three bourses, with selling pressure mostly on MSN of Masan Group, which rose 0.4 percent, HVN of national carrier Vietnam Airlines, up 3.93 percent, and VIC of Vingroup, down 3.1 percent. … [Read more...] about Blue chips lead VN-Index’s 2.67 pct. gain
The local stock market rebounded in the morning session after Government officials and agencies reassured that a 15-day nationwide social-distancing order, starting on Wednesday, was not a lockdown and the securities market would not be interrupted during the fight against COVID-19. … [Read more...] about VN stocks rally on policy assurance amid increasing virus infections