EU assists Cambodia in post-COVID-19 economic recovery
The European Union (EU), its member states and their financial institutions and agencies are mobilising 443 million EUR (503 million USD) in grants and loans to work with Cambodia in fighting COVID-19 and mitigating its socio-economic impacts.
Labourers move on a street in Phnom Penh capital of Cambodia on May 14 (Photo: AFP/VNA)
Phnom Penh (VNA) – The European Union (EU), its member states and their financialinstitutions and agencies are mobilising 443 million EUR (503million USD) in grants and loans to work with Cambodia in fighting COVID-19 andmitigating its socio-economic impacts.
The Phnom Penh Post cited the EU’s pressrelease as announcing that the bloc will work with Cambodia to supporteconomic recovery and job creation. That includes strengthening key areas ofthe economy, public investment for economic development, energy efficiency andgreen recovery.
The announcement came as Minister of SocialAffairs, Veterans and Youth Rehabilitation Vong Soth recently urged ASEANministers to immediately implement social protection programmes to help thepoor and vulnerable in the ASEAN region amid the pandemic.
He said the Cambodian Government iscommitted to implementing existing social protection programmes in June likeproviding cash to poor families to ease the pressure on the vulnerable and poorduring the pandemic.
He continued that the Government is payingmore attention to children under the age of 15, people with disabilities, theelderly, and AIDS patients.
Earlier this month, the CambodianMinistry of Labour and Vocational Training said about 110,000 workers of 344factories and firms in the country have received unemployment benefitsfrom an aid package of 2.4 million USD.
Theravaging COVID-19 pandemic has dealt a heavy blow to hundreds of thousands ofworkers in the garment and service sectors, especially tourism and hospitality,which use 620,000 workhands.
Accordingto the World Bank, the coronavirusoutbreak is putting at least 1.76 million jobs in Cambodia at risk,driving the country’s unemployment rate to nearly 20 percent./.
The Cambodian government has introduced the fourth round of measures to help the private sector, businesses, and workers who are severely affected by the COVID-19 pandemic.
Cambodia will see a huge loss in revenue generated from tourism sector of around 3 billion USD this year due to the COVID-19 pandemic spread, Khmer Times reported.
Cambodian hotels will resume operations shortly while international flights are expected to commence from mid-June since the COVID-19 crisis has been eased, according to Clais Chenda, president of the Cambodian Hotel Association.
Cambodia’s agriculture sector is unlikely to be able to substantially absorb laid-off workers from the garment and tourism industries, according to a World Bank report.
Cambodia is preparing another 12 million USD as assistance for jobless workers as factories remain closed, Cambodian Ministry of Labour and Vocational Training spokesman Heng Sour has said.
Addressing the ceremony, Indonesian Ambassador Simon D.I. Soekamo, the rotating Chair of the ASEAN Committee in Cuba, highlighted the bloc's spirit of friendship and solidarity, and reaffirmed ASEAN's core values of peace, stability, and prosperity through cooperation and dialogue.
Vietnam’s pavilion notably displayed traditional crafts from the centuries-old lacquerware village of Ha Thai and Chu Dau ceramics. The atmosphere was further enriched by delegations wearing their countries’ traditional costumes, including the elegant ao dai and the graceful ao tu than of Vietnamese women.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
Labourers move on a street in Phnom Penh capital of Cambodia on May 14 (Photo: AFP/VNA) 
