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 1st May 2017

FESPA to showcase digital, screen, textile industries

Stage is set for FESPA 2017 at the Hamburg Messe, Germany during May...

Textiles | On 30th Apr 2017

Government revamping tech mission on cotton

Indian Government is working to revamp the technology mission on...

Apparel/Garments | On 30th Apr 2017

Columbia Sportswear records Q1 net sales of $543.8 mn

Columbia Sportswear Company has announced record net sales of $543.8...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Johan Berlin
InvestKonsult Sweden AB

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

Giorgio Mantovani
Corman S.p.A

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

Eric Scholler

The Indian market has huge potential in technical textiles, and by far,...

Karan Arora
Karan Arora

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

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Rupa Sood and Sharan Apparao

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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