Home / Knowledge / News / Apparel/Garments / Recovery signs in garment sector, economy to grow – Economist
Recovery signs in garment sector, economy to grow – Economist
04
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 26th Jun 2017

US initiates probe into PSF imported from 5 nations

The department of commerce of the US has initiated investigations for ...

Textiles | On 26th Jun 2017

USTR announces AGOA review for Rwanda, Tanzania & Uganda

The office of the US trade representative (USTR) has announced the...

Textiles | On 26th Jun 2017

Braskem invests in polypropylene production facility in US

The Board of Directors of Braskem, one of the largest producer of...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Johan Berlin
InvestKonsult Sweden AB

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search