The last two months have seen the tourism sector, as well as informal workers and small family-run businesses, bear the brunt of this virus-induced economic distress.
Even though they have escaped an ordered shutdown, restaurants and eateries, both small and big, are finding it hard to attract customers, many of whom are staying or working from home to ride out the pandemic.
Ken Loo, secretary-general of GMAC, said all factories were facing the effects of the global economic slowdown, especially because buyers had suspended orders.
While dozens of business owners have closed their shops in Phnom Penh as a way to limit the chances of infection, others cannot afford to do so.
The Sesan II dam was highly controversial and a leaked government-commissioned study had warned of a devastating impact on the Mekong’s fisheries and ecosystem.
The Dow Jones Industrial Average shot up 1,352 points, a 6 percent gain. The S&P 500 and NASDAQ also climbed 6 percent.
The United States increased its imports from Vietnam by 36% last year for a total value of $67 billion, which is the highest increase in a single year since 2003, according to statistics from the U.S. Census Bureau.
The dispute involving the EFEO, the French Embassy, and the Apsara Authority over wages and employee benefits has left 126 workers without any work for nearly two years.
The survey showed that the consumer, resource and industrial sectors are most pessimistic about the disease’s impact, with 38% of them expecting a decrease of 50% or more in future growth.
Global markets surged Wednesday after U.S. leaders announced a massive financial response to the coronavirus outbreak.
Ministry of Labor spokesman Heng Sour said that as of mid-March, 53 factories had suspended their operations because of supply chain issues, affecting at least 34,000 garment workers.
“The government allocates funds based on two scenarios of COVID-19,” he said. “There will be $800 million for a period of six months and $2 billion if the outbreak lasts a year and longer.”
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