MANILA, Philippines — The World Bank continued to be less bullish on economic recovery for the Philippines as it further downgraded the country’s growth forecast this year due to the resurgence of COVID-19 cases and reimposition of strict lockdowns. The Washington-based lender said even as the Philippines is poised for a rebound this year, the […]
Read MoreAny proposed restructure of the vehicle excise tax should not affect the country’s product champion, the one-tonne pickup, says a source at the Excise Department who requested anonymity. The source said if the tax change targets only battery electric vehicles (BEVs), there is concern this might cause car manufacturers to relocate production bases from Thailand […]
Read MoreThe government has set up an FDI task force to support multinationals and foreign businesses grasping investment opportunities in Vietnam. Vietnam remains a preferred destination for foreign investors as actual disbursement of foreign direct investment (FDI) rose by 6.7% year-on-year in the first five months of this year to US$7.15 billion. During the period, FDI […]
Read MoreMANILA, Philippines — Despite a brief return to suffocating coronavirus lockdowns, trade continued its ascent in April on the back of record rise in both imports and exports, but the figures hardly reflect a convincing recovery. External trade grew 107.5% year-on-year to $14.16 billion, the Philippine Statistics Authority reported on Wednesday morning. It was better […]
Read MoreChina-based Jiangsu General Science Technology Co Ltd plans to invest 1.3 billion yuan ($203 million) to set up a tyre-processing plant in Cambodia with a production capacity of six million units per year, Tyrepress Media reported on June 7. Slated for Sihanoukville Special Economic Zone, construction is expected to take 15 months, with the plant […]
Read MoreThere is little hope of attracting Chinese travellers to Thailand under the sandbox scheme during Golden Week in October as long as the country continues to report more than 2,000 new infections per day, says the Association of Thai Travel Agents (Atta). The group said vaccine diplomacy by China and the US may also affect […]
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