Hanoi (VNA) – The World Bank (WB) has slightlylowered the growth forecast for developing East Asia and Pacific to 5% in 2023from the April prediction of 5.1%.
In its East Asia and Pacific October 2023 Economic Update,the WB said regional growth this year is higher than the average growthprojected for all other emerging markets and developing economies but lower thanpreviously projected.
Meanwhile, it forecast the region’s growth in 2024 at 4.5%, downfrom the April forecast of 4.8%, due to external factors such as slowing globalgrowth, high interest rates, and increasing protectionist measures.
Almost3,000 new restrictions were imposed on global trade in 2022, three times larger than those in 2019, the WB noted.
“The East Asia and Pacific regionremains one of the fastest growing and most dynamic regions in the world, evenif growth is moderating,” said WB East Asia and Pacific Vice-PresidentManuela V. Ferro. “Over the medium term, sustaining high growth will require reforms tomaintain industrial competitiveness, diversify trading partners, and unleashthe productivity-enhancing and job-creating potential of the services sector.”/.
The World Bank's Philippines Economic Update (PEU) said on June 7 that it expects the Philippines' gross domestic product (GDP) to grow 6% this year and 5.9% in 2024 due to solid domestic demand.
Vietnam's economic growth continued to face challenges which were seen in a slowdown in industrial production and declining exports due to weak external demand and global uncertainties, the World Bank’s June edition on Vietnam Macro Monitoring showed.
The Philippine Department of Finance (DOF) has signed a 600-million USD loan agreement with the World Bank (WB) for the country’s modernisation and industrialisation of the agricultural sector.
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.
Illustrative image (Photo: //www.goodreturns.in/) 
