Thailand's economic growth is likely to fall 7.8 percent, the biggest projected drop in the region, due to the impacts of COVID-19 on the tourism and service sectors, according to the ASEAN+3 Macroeconomic Research Office (AMRO).
The Indonesian Government is planning to expand its social aid programme and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the economy in the second half of this year.
Indonesia’s economy suffered its sharpest downturn since the 1998 Asian financial crisis in the second quarter, as the COVID-19 pandemic shut down large parts of the country, ravaging businesses and leaving millions out of work.
Singapore's economy is set for a strong recovery next year after a deeper-than-expected slump amid the coronavirus pandemic, according to a report by the Asean+3 Macroeconomic Research Office (Amro).
Senior finance officials of ASEAN+3 countries on Wednesday reviewed progress in the implementation of new initiatives under the strategic directions of the ASEAN+3 Financial Cooperation Process.
• Cambodia’s government issued its fifth stimulus package as the country continues to battle the economic impact caused by the COVID-19 pandemic. • The latest measures enhance the incentives offered in previous stimulus packages, such as providing laid-off employees’ monthly subsidies. • Further, businesses in the tourism industry are now exempted from paying taxes until September 2020.
The Philippines plunged into recession after its biggest quarterly contraction on record, data showed Thursday, as the economy reels from coronavirus lockdowns that have wrecked businesses and thrown millions out of work.
A revised free-trade pact between Japan and the Association of Southeast Asian Nations (Asean) facilitating the cross-border flow of services and investment came into force on Saturday.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
