A boat travels along the Mekong river as high-rise buildings are seen in the distance in Cambodia's Phnom Penh city (Photo: AFP)
Phnom Penh (VNA) - Cambodia is afast-growing country in a slowing world, the World Bank (WB) said in its latestreport.
According to the bank, although Cambodia’s growth is projected to slide to 7 percent, the countryhas remained a fast-growing economy in East Asia-Pacific.
Furthermore, itsexport growth has continued to stay high despite a slight decrease due tofalling external demand.
In the sphereof garment and footwear, the US has emerged as a more important market forCambodian exports that increased 23.2 percent in 2018 as compared with the 21.4percent in 2017.
Meanwhile, thecountry’s total export value to the European Union (EU) surged 31.4 percent in2018.
Claire Hollweg,a senior economist for Cambodia, pointed out that the country’s constructionactivities are ongoing thanks to upbeat domestic demand and the tidal wave ofinvestment.
The tourismsector has also experienced an expansion. However, tourism in Siem Reap will needa boost as the province is experiencing a drop in the number of holidaymakers.
Unfavourableweather conditions have also affected rice productivity. The livestock sector(cows, buffaloes and pigs) dropped 6.3 percent while the poultry sector(chicken and ducks) saw a rise of 5.3 percent in 2018.
The WB has forecastthat in 2020, Cambodia’s economy will remain strong thanks to high foreignreserves and government savings of more than 20 percent of gross domesticproduct (GDP).
The report,however, also points out a slowdown in such spheres as construction, garmentand tourism this year./.
Cambodia’s economy is projected to expand 7 percent in 2019, lower than the rate of 7.5 percent recorded in the previous year as export moderate in line with a fall in global demand, according to the World Bank (WB)’s report.
Cambodian Prime Minister Hun Sen on February 4 met with host President of the Republic of Korea (RoK) Moon Jae-in in Seoul to discuss plans for strengthening the bilateral relations.
Battambang province, the most well-known agriculture land of Cambodia, is attracting tourists at home and abroad with its ancient temples, French-style houses and farming ecosystem.
The Cambodian Government aims to transform Sihanoukville, the capital of Preah Sihanouk province, into Cambodia’s industrial hub – a “second Shenzhen city”, Secretary of State at the Ministry of Economy and Finance Vongsey Vissoth said.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
A boat travels along the Mekong river as high-rise buildings are seen in the distance in Cambodia's Phnom Penh city (Photo: AFP) 
