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CLMV’s economic growth crashes to two-decade low due to COVID-19

The COVID-19 pandemic is having a negative impact on CLMV economies through their dependency on foreign-sourced revenue from tourism and exports says KResearchCenter.

While the COVID-19 crisis has caused the rate of economic growth in the CLMV bloc to be at its lowest in two decades, the CLMV economies could grow at 3.4 percent this year.

Overall, the CLMV economies will tend to undergo a speedy recovery over the next 1 to 2 years – with economic growth projected to reach 6.4 percent in 2021 and 6.5 percent in 2022.

Countries which are heavily dependent on foreign revenue are facing more negative effects during this crisis.

Cambodia is the most severely affected country

Cambodia is the most severely affected country, as it is extremely reliant on foreign income through tourism and exports. Tourism is expected to shrink by an estimated 60 percent this year. Meanwhile, in terms of exports, Cambodia remains most dependent on the…

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COVID-19 Silver Lining : Asia sees unexpected gains in virus lockdowns

Emergency workers usually busy attending accidents on Thailand’s roads mill around ambulances parked at a service station — fewer crashes and crimes a welcome outcome for several Asian countries during coronavirus lockdowns.

As Asia starts to assess the damage caused by the pandemic, some countries are realising there have been unforeseen benefits. 

Vietnam’s nationwide isolation has seen a drop in crime, Hong Kong has hailed an early end to its annual flu season — and now, Thailand is seeing a much-needed win in road safety. 

“Accidents have gone down quite a lot,” said Banjerd Premjit, chief of the Por Tek Tung emergency medical team operating just outside Bangkok.

In Pathum Thani province, where his team of three ambulances normally rush to about 15 grisly crashes a night, accidents have dropped by half. 

Songkran, the Thai New Year holiday, is marked annually by a jump in tr…
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Thailand reports zero new cases of Covid-19

Thailand has reported no new infections or fatalities today, for the first time since the country recorded its first COVID-19 case four months ago.

There were no new cases of Covid-19 over a 24-hour period, or any deaths, Dr Taweesin Visanuyothin, spokesman of the government’s Centre for Covid-19 Situation Administration, said on Wednesday, May 13.

Since May 3, the number of new Covid-19 cases reported daily had been in single figures,  except for May 4th, when new infections jumped to 18, all among illegal immigrants at a detention centre in the southern province of Songkhla.

Dr Taweesin cautioned that no fresh cases did not mean Thailand had completely rid itself of the virus. People should not become complacent as there might be infected people who have shown no symptoms yet.

Cumulative infections, to date, remain at 3,017 while recoveries have increased by 46 to 2,844 today.  Over the previous 24 hours, 46 more patie…

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