Developing Asian economies to contract less than expected: ADB
Economic activity in developing Asia is forecast to contract by 0.4 percent this year, an improvement from the -0.7 percent gross domestic product (GDP) growth forecast in September, according to a report released by the Asian Development Bank (ADB).
Hanoi (VNA) - Economic activity in developingAsian economies is forecast to contract by 0.4 percent this year, an improvement from the-0.7 percent gross domestic product (GDP) growth forecast in September, accordingto a report released by the Asian Development Bank (ADB).
The outlook for 2021 remains unchanged, with the region’sgrowth projected to pick up to 6.8 percent as it moves toward recovery from theeffects of the COVID-19 pandemic
Most of developing Asia’s subregions are forecast tocontract this year, except for East Asia with an upgraded growth forecast of 1.6 percent onthe back of faster-than-expected recoveries in China and Taiwan (China). China’s growth outlook for 2021 is maintained at 7.7 percent.
Economic growth in Southeast Asia remains under pressure asCOVID-19 outbreaks and containment measures continue, particularly inIndonesia, Malaysia, and the Philippines. The subregion’s growth forecast for2020 is revised down to -4.4 percent from -3.8 percent in September. Thesubregion’s outlook for 2021 is also downgraded, with Southeast Asia nowexpected to grow 5.2 percent next year compared to the 5.5 percent growthforecast in September.
ADB Chief Economist Yasuyuki Sawada said: “A prol﷽ongedpandemic remains the primary risk, but recent developments on the vaccine frontare tempering this.”/.
Vietnam’s economy is forecast to expand 1.8 percent in 2020 amid the coronavirus and bounce back in next year, while economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, according to a recent report released by the Asian Development Bank (ADB).
A new report from the Asian Development Bank (ADB) shows that strengthening the dynamics of micro, small, and medium-sized enterprises (MSMEs) with innovation and internationalization will be key to revitalizing Southeast Asian economies devastated by the coronavirus disease (COVID-19) pandemic.
The Asian Development Bank (ADB) has allocated 20.3 million USD in technical assistance to help its developing members access vaccines for the coronavirus disease (COVID-19) and establish systems to enable equitable and efficient vaccine distribution.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
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.
Illustrative photo (Source: VNA) 
