Home / Knowledge / News / Apparel/Garments / Recovery signs in garment sector, economy to grow – Economist
Recovery signs in garment sector, economy to grow – Economist
May '09
A noted economist has predicted that the Cambodian economy will recover and grow by the end of 2009 and prove the Economic Intelligence Unit as well as the World Bank wrong, which have projected a negative growth for the economy.

Kang Chandararot, President of the Cambodia Institute for Development Study said that the international organisations have been very pessimistic when predicting the economic outlook of the Cambodian economy in 2009.

He said the garment sector which has been hit the hardest, is showing signs of recovery, due to which the overall economy could stabilize as early as in 2009. He added that, these organisations were ignoring the fact that, new garment units had been put up in 2009 too.

According to him, the economy would actually grow by 5 percent in 2009, instead of contracting as expected by the international organisations. He said the tax breaks provided to the garment industry had helped boost the apparel industry.

The clothing manufacturing sector is a witness to closure of 20 companies in 2009, leading to lay-offs to around 13,000 workers in Cambodia. Experts aver that the government incentives have averted large scale closures in garment units.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search