Asia’s developing economies remain on track to see a 5.8 percent growth this year and 6 percent in 2016 despite economic slowdown in the US, Japan and the Eurozone, reported the Asian Development Bank
Construction in the Philippines (Source: business.inquirer.net)
Hanoi (VNA) - Asia’s developing economies remain on track to post a 5.8 percent growth this year and 6 percent in 2016 despite economic slowdown in the US, Japan and the Eurozone, reported the Asian Development Bank (ADB).
The Vietnamese economy is forecast to expand 6.5 percent this year and 6.6 percent next year, compared to nearly 6 percent last year.
According to ADB Chi♕ef Economist Shang-Jin Wei, the region’s growth is supported by vibrant private consumption in China whose population is over 1.4 billion and expanded industrial production in India where the population nears 1.3 billion and other countries.
East Asia’s growth forecast is maintained at 6 percent for 2015 and 2016, with China growing by 6.9 percent in 2015 and 6.7 percent in 2016.
Growth prospects for Southeast Asia also remain unchanged from the ADB’s September Update , with forecasts at 4.4 percent for 2015 and 4.9 percent for 2016.
South Asia’s outlook remains positive, with the sub-region on track to meet previous growth projections of 6.9 percent in 2015 and 7.3 percent in 2016. Continued strength in India is supported by growth in industrial production, public capital expenditure, and retail sales. This is helping to offset slowdowns seen for Bhutan, the Maldives, and Nepal.
Meanwhile, the growth outlook for Central Asia has been downgraded in both 2015 and 2016 to 3.2 percent and 3.7 percent from 3.3 percent and 4.2 percent, respectively, as continued low commodity prices remain a drag on economic performance.
Growth for the Asia-Pacific is now seen at 6.3 percent in 2015 f꧙rom 6.7 percent in the September Update , and at 3.8 percent in 2016 from 3.9 percent previously./.
President of the Asian Development Bank (ADB) Takehiko Nakao has praised Cambodia for its steady economic growth during his visit to the country on March 10-11.
President of the Asian Development Bank (ADB) Takehiko Nakao has reaffirmed the bank’s support for the sustainable development of Laos in the interest of the Lao people.
Vietnam’s Gross Domestic Product (GDP) growth is likely to edge up to 6.1 percent in 2015 and 6.2 percent in 2016, according to the Asian Development Outlook (ADO) 2015 released by the Asian Development Bank (ADB).
ADB forecasts 7 percent gross domestic product (GDP) growth for Cambodia in 2015 and 7.2 percent in 2016, according to the bank’s Asian Development Outlook Update report released on September 22.
The Asian Development Bank (ADB) has lowered its predicted 2015 economic growth for Indonesia to 4.9 percent, lower than its prior 5.5 percent forecast due to domestic and global economic pressure.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Construction in the Philippines (Source: business.inquirer.net)
