MANILA, Philippines — Business groups want the Bureau of Internal Revenue (BIR) to repeal the imposition of 12 percent value-added tax (VAT) on local purchases of exporters and indirect exports, saying its implementation may lead to job losses and discourage investments in the country. In an online press conference, the business groups, consisting of the […]
Read MoreThailand’s economy is forecast to grow 2.2% this year, down from the 3.4% projected earlier, due to the impact of a third wave of Covid-19 infections and weak tourism, the World Bank said on Thursday. The economy contracted 6.1% last year, its deepest slump in over two decades, with the tourism sector devastated by the […]
Read MoreSuch a large corporation would serve as a market-leading player and reduce the dependence of foreign firms or multinationals for distribution. The Vietnamese government continues to encourage the formation of large-scale corporations in retail, aiming to strengthen the linkage between production zones and consumer markets. This move was revealed in the government’s decision No.1163/QD-TTg on […]
Read MoreCambodia exported $357.8 million worth of garments, textiles, shoes and travel goods in the first six months of 2021, inching up 1.4 percent compared with the same period last year. Figures from the Ministry of Commerce show the garment exports were produced in the special economic zones (SEZs). Cambodia has a total of 54 SEZs. […]
Read MorePETALING JAYA: Malaysian Rating Corp Bhd (MARC) has lowered its gross domestic product (GDP) growth forecast to 3.9% on-year, which is lower than its previous review of 5.1% due to the contraction in private consumption following the strict lockdown measures. In its report yesterday, MARC said its earlier January 2021 GDP growth forecast for Malaysia […]
Read MoreThe worsening Covid-19 situation in Thailand has led the Tourism and Sports Ministry to reconsider the country’s reopening strategy, admitting some target destinations are still marred by soaring infections. However, the ministry insists on reopening Bangkok by this year as the capital is the heart of the tourism industry in Thailand. “With more than 9,000 […]
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