Hanoi (VNA) – Cambodia’s poverty rate could nearly double to 17.6 percent and unemployment could rise to 4.8 percent, according to a policy brief that assesses the socio-economic impact of COVID-19 in Cambodia released by the UN Development Programme (UNDP) on October 8. It was launched through careful consultation with the Cambodian Ministry of Economy and Fiance (MEF) and other partners. The impact assessment uses three models to measure impact and model scenarios that can mitigate further risks resulting from the pandemic. The assessment estimates that economic growth could contract from an original 6.5 percent for 2020 to minus 4.1 percent. Under this scenario, the poverty rate and unemployment are forecast to surge to 17.6 percent and 4.8 percent, respectively. Cambodia’s poverty rate fell significantly to 10 percent last year from 53.2 percent in 2004. A social protection stimulus of 3.5 percent of GDP would limit GDP contraction to minus 3.3 percent and … [Read more...] about Cambodia’s poverty rate to double to 17.6 pct due to COVID-19: UNDP
Rbs best savings rates
The average monthly income of the poor, near-poor and middle-income groups in 2018 were VND931,000, VND1.8 million and VND2.77 million respectively. This means nearly 15 million households, or about 60 million people, have no access to a lot of basic goods and services due to the gap between income and price. It is worth noting that the sum these households spend on food, drink, and smoking makes up a sizable part of their income – 48% in the 2016 survey, the most recent figure. Their other needs such as housing, electricity, water, sanitation, household appliances, healthcare, travel, education, culture, sports, and entertainment, of course, face more limitations. … [Read more...] about Demand stimulus: where to begin?
Wasting capital chasing sales is different from investing in good people, infrastructure, and brand building. Investing is very good but wasting capital chasing sales is not. Insurers would once again come up against a brick wall if they only pour more and more cash for marketing and sales. The waste of capital has been much more intense for agents who are not professional, ill-equipped with products and advice they give to customers, then abandon the customers after a sale and provide no services to them, especially during claim time. … [Read more...] about New mindset needed for insurance industry
In addition, UNDP in collaboration with UNWomen is conducting a rapid assessment of economic impacts of the crisis by surveying about 600 vulnerable households and 500 micro, small and medium enterprises (MSMEs). This will contribute to the COVID-19 Impact Assessment led by the National Centre for Information and Forecast of the Ministry of Planning and Investment. … [Read more...] about Latest Coronavirus News in Vietnam & Southeast Asia on April 13
The government should promote domestic small- and medium-sized enterprises (SMEs) through capital subsidies and incentives such as tax breaks and preferential loans. A competitive supporting industry will help in reducing investment costs for renewable projects, Dezan Shira & Associates recommended. … [Read more...] about Vietnam’s renewables: Advantages and considerations