Economy

Phnom Penh (VNA) - The Cambodian Government has been devising new measures and strategies to revive the economy amid the COVID-19 pandemic. Permanent Secretary of State at the Ministry of Economy and Finance Vongsey Vissoth said at a recent press conference that the pandemic has impacted the global economy. Therefore, governments have been making every effort to support and restore their national economies. “We have to live with COVID-19. We cannot wait until it ends,” said Vissoth. “We have prepared measures and delivered an unprecedented response. We are spending a lot of money to maintain the economy, maintain jobs and facilitate its recovery,” he added. According to the data from the Ministry of Economy and Finance, the government has spent 10 million USD on health, economy and social intervention as part of its master plan in the fight against the virus impacts. Approximately 25 million USD has been spent on skills and vocational training and … [Read more...] about Cambodia maps out new measures to revive economy

Hanoi (VNA) - Indonesia's economic growth in the second quarter of 2020 was projected to stay at the level of minus 3.8 percent or in the range between minus 3.5 percent and minus 5.1 percent due to the COVID-19 pandemic, Indonesian Finance Minister Sri Mulyani Indrawati has said. … [Read more...] about Indonesia’s economy forecast to contract 3.8 percent in Q2

According to Nikkei, the second quarter of the year will see Apple produce up to four million AirPods locally, equivalent to roughly one thirds of the total AirPods produced worldwide. Foxcon, a component supplier for Apple, has located its factory in Bac Giang whilst Panasonic Vietnam is also preparing to gradually move its production line from Thailand in order to produce refrigerators and washing machines at the beginning of September. … [Read more...] about Electronics industry put at disadvantage due to falling demand

In terms of the forex market, the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) moved to list the exchange rate at VND23,070 per US$1 for buying and VND23,280 per US$1 for selling on July 7, both recording drops of VND10 per US$1 compared to the previous day. … [Read more...] about SJC gold price climbs to new peak of VND50.35 million per tael

Cooperation has also seen positive changes in quality, he added, as the structure of Vietnam’s exports to the U.S. has been diversified, with the presence of industrial and processing products such as electronic components, iron and steel, rubber, and home furniture. Vietnam has primarily focused on shipping agricultural products, garments and textiles, and footwear to the U.S. … [Read more...] about Vietnam, U.S. making strides forward in economic, trade relations