Friday, 30.3.2007: Asia Development Bank Released Data About Economic Growth In Southeast Asia In 2007

Posted on 31 March 2007. Filed under: Week 501 |

The Mirror, Vol. 11, No. 500

“According to a prediction of economic growth of the developing countries in Asia in 2007 and 2008, prepared by the Asia Development Bank [ADB] and released on 27 March 2007, it indicated that the economic growth for Cambodia and the neighboring countries – Laos and Vietnam – would increase slightly. This growth reflects mainly an increase of investments in the garment sector.

“Meanwhile, the same report said that the Philippines expected to maintain the same level of economic growth with an increase of 5.4% of GDP [gross domestic product] in this year (2007) and of 5.7% in 2008. The Philippine government spending is expected to increase up to 17.9% of GDP, compared to an increase of 17.3% of GDP in 2006. It is also anticipated that other expenditures in the sectors of public works and transportation, telecommunication, and education will increase to 16.4%.

“At present, the service industry of the Philippines has become one of the main factor in encouraging economic growth, and this year agricultural products will increase by 3.9%. Moreover, in January 2007, a law on bio-fuel was adopted, so that there will be an increasing demand for sugarcane and sweet potatoes for producing ethanol. This measure is to prevent the Philippine’s economy from slowing down. According to the ADB report, the Philippines has to take urgent measures to keep its economic growth and to create many more well-salaried jobs for unemployed people, whose number is increasing from one year to another.

“In 2006, the unemployment rate in the Philippines increased to 8%. According to the ADB report on the prediction of economic growth, the major risk that prevented the prediction from going into detail about the economic growth of the Philippines in 2007 is the potential impact of the national elections, which are scheduled for May 2007.

“This report showed that ‘the Philippines needs to prepare a transparent and fair election in a peaceful way, if it wants to maintain its economic growth.’ It also said that the economic growth of the People’s Republic of China in 2007 and 2008 will increase dramatically. This economic growth encouraged the increase of export and of investment of asset. As for the economic growth of India in 2007 and 2008, it indicates the remarkable momentum [of the economy]. This economic growth came from exports in the sector of Information Technology and from other sectors of the industry. Furthermore, the Indian economy will increase by 8% in 2007 and by 8.3% in 2008. Overall, the economic growth in Southeast Asia will increase by 5.6% in 2007 and by 5.9% in 2008

“A recently released ADB report said that developing countries in Asia would have dramatic economic growth in 2007. According to the yearly report of the ADB titled ‘Asian Development Outlook’ released in Tokyo, Japan, on 27 March 2007, it predicted that the economy of the developing countries in Asia would increase by 7.6% in 2007 and by 7.7% in 2008. The same report indicated that the pressure of inflation would be down, responding to policies and measures taken in the region, which is in line with the recent decrease of the oil price across the globe.

“Mr. Ifzal Ali, the Chief Economist of the Economics and Research Department of the ADB, this multilateral development bank which has its seat in Manila, the Philippines, said, ‘Micro-economic management will ensure that the outlook of the economic growth of developing countries will receive satisfactory results.” Koh Santepheap, Vol.40, #6004, 30.3.2007

Newspapers Appearing on the Newsstand:
Friday, 30 March 2007

Kampuchea Thmey, Vol.6, #1304, 30.3.2007

  • The Delegate Of The [US based] International Republican Institute From Iraq Met With [Mr. Osman Hasan] Muslim Leader In Cambodia [on the situation of Khmer Muslims]
  • The Ministry Of Health Filed A Complaint Against Five [unlicensed] Illegal Pharmacies

Khmer Mekong, Vol.5, #254, 29-30.3.2007

  • Policemen [in Kompong Thom] Play A Role As Forest Administrators But Caused Indignation To People [also set up checkpoints to take money]

Koh Santepheap, Vol.40, #6004, 30.3.2007

  • SMSs Will Not Be Available From 30 March And 1 April [as instructed by the Ministry of Post And Telecommunication]
    A Tiger Shark Of 2 Tons Was Caught In A Fisherman’s Net [Koh Kong]
  • Asia Development Bank Released Data About Economic Growth In Southeast Asia In 2007

Rasmei Kampuchea, Vol.15, #4249, 30.3.2007

  • In Three Years, the Global Environment Fund Will Provide From US$8 Million To US$10 Million To Cambodia To Protect The Environment And To Promote The Citizens’ Living Standard
  • Japanese Students [from the ‘School of Future Leaders’ in Japan] Seek Understanding About Samdech Hun Sen’s [strategy of] Leading The Country
  • Japanese-Cambodia Interactive Association Provided Aid Of US$198.745 To Cambodian Disabled People And Orphaned Children

Reach Seima, Vol.2, #171, 29.3.2007

  • ADHOC [Cambodian Human Rights And Development Association] Reported 32 Cases Of Threatening Political Activists And 4 Cases Of Murder

Rythisen, Vol.3, #21,30.3.2007

  • The Ministry Of Commerce Received Praise From Samdech Hun Sen [attracting investors to facilitate business, especially negotiating with some developed countries to lift trade barriers and tariff to open the door of the markets for Cambodian products]

Samleng Yuvachun Khmer, Vol.14, #3003, 30.3.2007

  • The Case Of Convict Heng Pov [the former Phnom Penh Municipal Police Chief] In The Federal Court Of Malaysia Might Be Delayed For Many Months
  • Cambodia-Thai Cultural Committee Held A Meeting On The Cultural Relations Between The Two Countries In Phnom Penh [1-Translating the royal histories of Thailand and Cambodia into the Khmer and Thai languages; 2-Producing VCDs about popular culture, music, dance, and other arts in Khmer and Thai languages; 3-Youth’s camping on a taking-turns basis; 4- Conduct modern concerts live on television in both countries]

Sralanh Khmer, Vol.3, #365, 30.3.2007

  • The Human Rights Watch Organization [in the US] Encouraged the Federal Board of Investigation [of the US] To Re-investigate The Case Of The Grenade Attack Of 10 Years Ago In Cambodia [in front of the National Assembly, killing at least 16 people and injuring more than 200]
  • Yuon [Vietnamese] People [living in Cambodia] Prepare Themselves To Vote For The Cambodian People’s Party [they think that the CPP allowed them to live and do their business freely]
  • United Nation High Commissioners For Refugees Pays Attention To Khmer Krom Refugees

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