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Tag Archives: global economic crisis
SMEs key to growth
CAMBODIAN economists and trade officials have urged the government to focus on small and medium-sized entreprises rather than foreign investment to boost the economy during the global downturn. “Only small and medium-sized enterprises can be used as a tool to boost our growth,” said Kang Chandararot, director of the Cambodia Institute for Development Study. He … Continue reading
Decline in 27 percent of Cambodian garment exports
Cambodian garment industry was hard hit by the world economic crisis and due to the drop in demand from its main markets such as United States and European Union. Decline of demand of the US and EU markets also show that exports to the US and European Union decreased 35 percent and nearly 10 percent … Continue reading
Low garment sales, poor tourism to hit Cambodia-IMF
PHNOM PENH, March 6 (Reuters) – A slowdown in garment exports and a drop in the number of tourists could cause Cambodia’s economy to shrink 0.5 percent this year, the International Monetary Fund said on Friday. That is a big turnaround from the 4.8 percent growth the IMF had forecast in November. “Garment exports are … Continue reading
Economic meltdown
THE current economic crisis is unravelling before us faster than even the most pessimistic of experts predicted just a few months ago. The effects are already trickling down to ordinary working people. In the Asia Pacific region, the International Labour Organisation has projected that as many as 27 million more people could become unemployed this … Continue reading
Global economic crisis led to factory closings
MOST garment factories that shut down in 2008 did so because of the global economic crisis, which resulted in a rapid decrease in purchase orders from key markets, according to a report completed last week by the Ministry of Labour and Vocational Training. The report, presented Tuesday at a seminar in Phnom Penh, states that … Continue reading
Kampot Cement to cut output in phases
CAMBODIA’S largest cement producer is set to cut production in two phases on falling demand from the construction industry, the company said. Khaou Phallaboth, president of the firm’s Cambodian minority stakeholder, told the Post on Tuesday that Kampot Cement has already cut production by 10 percent since January and plans another 10 percent cut for … Continue reading
