Tuesday, March 28, 2023
Khmer Daily Cambodia News
34 °c
Phnom Penh
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
  • LATEST
  • CAMBODIA
  • ASIA
    • JAPAN
    • SOUTH KOREA
    • TAIWAN
  • WORLD
    • CHINA
    • RUSSIA
  • BUSINESS CAMBODIA
  • TECHNOLOGY
No Result
View All Result
The Khmer Daily
No Result
View All Result
Home ASIA Cambodia

News about Cambodia plan to purchase COVID-19 vaccine boosts business confidence

December 9, 2020
in Business, Cambodia, National
0
News about Cambodia plan to purchase COVID-19 vaccine boosts business confidence
0
SHARES
13
VIEWS
Share on FacebookShare on Twitter
The Prime Minister’s Monday announcement of the government’s plan to purchase COVID-19 vaccine doses for the Kingdom’s citizens was welcomed by people across the nation. For business people and investors, though, it was not only welcome news, but it also had the immediate effect of boosting confidence among them on the prospect of economic recovery in the Kingdom.

Mr Hun Sen’s announcement said that he had ordered the Health and Finance ministries to allocate money for the purchase of one million COVID-19 vaccine doses. He added that he had also advised that the Minister of Health discuss with the World Health Organization, from where vaccine supplies should be sourced.

“I also advised [that] the Minister of Finance allocate budget for the first purchase of one million doses, [which will] be given to those working in high-risk areas. One million doses [is sufficient] for 500,000 people (because one person needs two vaccinations),” the prime minister said.

Lim Heng, Vice-President of Cambodia Chamber of Commerce, said that business people and investors across the world have been waiting for the vaccine, [because once] available to all, [that] will be a good [indicator] for the recovery of the [global] economy.  “The news of the various vaccine developments [has boosted] confidence among investors [enough to spur them] to prepare [their post-COVID-19] business and investment plans,” Heng added.  He said that while the country [is still in] pandemic [mode], the Council for the Development of Cambodia has [been] approving general investment projects monthly.

Anthony Galliano, the newly elected president of the American Chamber of Commerce in Cambodia (AmCham), said that investors should be substantially comforted that the government has set COVID-19 containment and management as the highest of priorities, with a unified response throughout the ranks and a compliant populace.

“The economic risks are being managed to mitigate the impact and are balanced with the health and safety of the people. This government’s management and performance can only spark investor confidence and, in my opinion, will result in increased investor confidence and investment,” said Galliano.

“With several vaccines on the horizon, global economies are set to rebound mid-2021, especially in the United States and Europe, where the economic impact has been severe,” he said, adding there will be a spike in global trade as economies revive and this will result in positive traction for the Kingdom’s manufacturing sectors, especially garments.  “Given that Cambodia was viewed as one of the more attractive investment destinations in Asean, the Kingdom should benefit from renewed foreign direct investment interest, especially as the nation’s infrastructure has greatly improved, labour remains inexpensive and plentiful and the advances in the ease of doing business.”

He added that tourism may take much longer to rebound and will only likely progress in gaining traction, depending on the state of the airline industry and the still-to-be determined health and safety protocols that will be enforced.

It [the vaccine] is the new context, and we are glad to hear that news, said Thourn Sinan, chairman of the Pacific Asia Tourism Association Cambodia Chapter (PATACC). He added that Cambodia will not only heal its COVID-19 wounds, but it will rehabilitate the economy in all sectors, especially among investors and business people. More investors will come to Cambodia in larger numbers than before. For me, it [the vaccine] is happy news, but what I am concerned about is that we lack enough professionals for the tourism sector to rebound, because many have changed jobs. Although a vaccine will soon be available here, this is just the start of the recovery and to expect a return to the number of tourists that visited in 2019 is just not feasible for the next two years. We will need at least five years,” he added. Song Saran, the CEO/president of Amru Rice, also welcomed the news.  “As business people, we are confident that soon we will be able to travel and communicate in person in order to expand our businesses,” he added.  He anticipates that business travel will return to more traditional volumes in the second quarter of 2021.

This article was first published in Khmer Times. All contents and images are copyright to their respective owners and sources.
Tags: CambodiaCambodia plan to purchase COVID-19 vaccineHun Sen
Previous Post

British grandma is first in world to get Pfizer vaccine outside trial

Next Post

Cambodia Gold: Angkor Resources Corp strikes gold in Andong Meas region

Related Posts

2 Cambodians held on rare royal insults charge after Facebook posts

2 Cambodians held on rare royal insults charge after Facebook posts

by AsiaOne
March 26, 2023
0
10

PHNOM PENH - Two Cambodian opposition figures have been charged under the country’s rarely used lese majeste law with insulting...

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

Nearly 10,000 national and international tourists flock to see Equinox at Angkor Wat Temple

by Khmer Times
March 22, 2023
0
11

A total 8,726 national and international tourists this morning flocked to Angkor Wat Temple in Siem Reap provincial city to...

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

Cambodia’s 1st full flight simulator officially put into use under the Lanmei Aviation Group

by Khmer Times
March 22, 2023
0
9

The International Aviation Flight Simulator Centre (IAFSC), which is the first full flight simulator in Cambodia, was officially put into...

Most Popular

Google suspends Chinese app Pinduoduo from Play store after malware is found

Google suspends Chinese app Pinduoduo from Play store after malware is found

March 22, 2023
35
Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

Russia boosts defences near Japan, accuses US of expanding Asia-Pacific presence

March 24, 2023
22
Boris Johnson says he did not lie over Covid-19 lockdown parties

Boris Johnson says he did not lie over Covid-19 lockdown parties

March 24, 2023
22
World Athletics bans transgender women

World Athletics bans transgender women

March 24, 2023
21
Rebels in Indonesia’s Papua release New Zealand hostage video

Rebels in Indonesia’s Papua release New Zealand hostage video

March 12, 2023
20
Biden speaks with California governor about Silicon Valley Bank: White House

Biden speaks with California governor about Silicon Valley Bank: White House

March 12, 2023
19

© 2020 By Khmer Daily News

No Result
View All Result
  • Home
  • Latest
  • Cambodia
  • ASIA
  • World
  • Business
  • Tech

© 2019 The Khmer Daily.

error: Content is protected !!