Day: October 21, 2021

PHNOM PENH– Cambodia yesterday launched a Siem Reap provincial tourism development master plan 2021-2035, aiming at turning the north-western province into a major tourist destination in the kingdom and in the Southeast Asian region.

 

Speaking at the launching held via videoconference, Deputy Prime Minister, Aun Pornmoniroth said, the master plan was crucial to develop the tourism industry in Siem Reap, in the long run.

 

“It will play an important role to promote the quality, safety and sustainable development of the tourism industry in the province, in the post-COVID-19 pandemic era,” he said.

 

Tourism Minister, Thong Khon, said, the master plan prescribed seven key strategic areas for the province’s tourism development.

 

These included the development of major tourist sites, development of new tourism products, promotion of tourism, enhancement of the quality and sustainability of provincial tourism, environmental management, development of infrastructure, connectivity and tourism governance, he said.

 

Khon added that, the master plan set out 43 strategies and 135 implementation actions for the short-, medium- and long-term, with 20 priority action projects.

 

“The master plan aims to transform Siem Reap into the most popular tourist destination in Cambodia, and a main tourist destination in the Southeast Asian region,” he said.

 

According to the master plan, Siem Reap was expected to attract 7.5 million international tourists and 10.9 million domestic tourists by 2035, creating some 940,000 jobs and generating about 5.9 billion U.S. dollars in revenue.

 

Siem Reap is the home of the Angkor Archaeological Park, a world heritage site.

 

Prior to COVID-19, the 401-square-km ancient park received 2.2 million international tourists in 2019, earning a gross revenue of 99 million U.S. dollars from ticket sales.

 

However, due to the pandemic, the park attracted only 6,167 foreigners in the first nine months of 2021, down 98.4 percent year-on-year, the Angkor Enterprise said, adding that, it earned gross revenue of 253,809 dollars from ticket sales, during the Jan-Sept period, this year, down 98.6 percent.

 

Source: NAM NEWS NETWORK

KUALA LUMPUR– Consumer spending in Malaysia will begin its recovery in 2022, with household spending forecast to grow by a real rate of 5.1 percent, Fitch Solutions Country Risk and Industry Research said today.

 

“We expect the consumer to recover from two years of contractions in spending levels. Spending will follow the wider economic recovery, as higher vaccination rates over the first half of 2022 allow for more localities to lift restrictions that have hampered retail sales,” said the Fitch unit in a statement.

 

Its consumer spending forecast is also in line with its view that Malaysia’s wider economy is forecast to grow by 5.5 percent over 2022.

 

“Malaysia’s economic recovery from the COVID-19 pandemic will be slow, with the country being in a constant state of lockdown for nearly two years,” it said.

 

According to the research house, total consumer spending fell to 855 billion ringgit (about 205.7 billion U.S. dollars) over 2021, 5.4 percent lower than the 905 billion ringgit (about 217.7 billion U.S. dollars) recorded in 2019, the pre-COVID-19 environment.

 

“As such, the Malaysian consumer recovery from COVID-19 will only begin in 2022. We note, however, that the recovery will be rapid enough to total 915 billion ringgit in 2022, building slightly on the figure recorded pre-pandemic,” it said.

 

Fitch Solutions also highlighted several risks to outlook over 2022, especially in the first quarter of 2022, including elevated inflation, and the possibility of new COVID-19 variants, which could lead to the re-imposition of COVID-19 related restrictions.

 

Source: NAM NEWS NETWORK

STRASBOURG— The European Union must deepen ties with Taiwan and start work on an investment deal with the island, EU lawmakers said in a resolution adopted on Thursday, a move likely to anger Beijing as a similar EU-China deal struck in 2020 has been put on ice.

 

The European Parliament in the French city of Strasbourg, with a majority of 580 votes to 26, backed the non-binding resolution requesting that the bloc’s executive European Commission “urgently begin an impact assessment, public consultation and scoping exercise on a bilateral investment agreement”.

 

The lawmakers also demanded that the bloc’s trade office in Taipei be renamed the European Union Office in Taiwan, in effect upgrading the mission though neither the EU nor its member states have formal diplomatic ties with Taiwan, which China claims as its own territory.

 

Military tensions between China and Taiwan have increased, with with Taipei saying that Beijing will be capable of mounting a “full scale” invasion of the island by 2025.

 

The EU added Taiwan to its list of trade partners eligible for an investment deal in 2015, but has not held talks with the democratically ruled island on the issue since then, although Taipei is keen on striking an agreement.

 

A similar investment deal agreed last year between the EU and its major trade partner China has been blocked for months. The European Parliament put its ratification on ice after Beijing imposed sanctions on EU lawmakers in a human rights dispute.

 

The tech powerhouse Taiwan, meanwhile, has become increasingly attractive for the EU amid a global shortage of semiconductors that has Brussels lobbying for key Taiwanese chip makers to invest in the bloc as they have done in the United States.

 

Source: NAM NEWS NETWORK

Looking for ways to make an impact in people’s lives and empower the ASEAN community? Do you have an innovative solution that could be the answer to a current challenge in your region, but need guidance and financial resources? 

The 2022 Young Southeast Asian Leaders Initiative’s (YSEALI) Seeds for the Future grants competition could make your vision a reality.  

The U.S. Mission to ASEAN, with implementing partner Cultural Vistas, is pleased to announce that the YSEALI Seeds for the Future program is now receiving applications for a 2022 grant competition. 

Apply Here

 

YSEALI Seeds for the Future is a small grants competition for young leaders in Southeast Asia. The competition, which is sponsored by the U.S. Department of State, provides funding of up to $15,000 each for the region’s most promising young leaders to carry out projects that improve their communities, countries, and the region in one of four YSEALI themes: Civic Engagement, Economic Empowerment and Social Entrepreneurship, Education and Environmental Issues.

 

In 2022, YSEALI Seeds for the Future intends to expand from this year’s grantees, who have successfully administered 26 projects, including eco-system advocators from Indonesia, sustainable urban agriculture enthusiasts from Vietnam and peacebuilders equipping Philippine’s youth with skills for sustainable change throughout all 10 ASEAN member states and Timor-Leste. The application deadline is November 11, 2021 at 11: 59 PM (UTC+07 Jakarta Time).

 

To be eligible, you must be a registered YSEALI member aged 18 to 35 from one of the 10 ASEAN nations or Timor-Leste. Applicant teams of at least three members must submit a detailed proposal, budget, and other supporting documentation. Projects that involve more than one country are encouraged.

 

To learn more about preparing a successful YSEALI Seeds application, join our series of three weekly webinars in October and November.

 

For more information, visit ysealiseeds.org and follow YSEALI Seeds on social media to learn more about the 2021 grantees and to begin preparing your applications for this year’s competition.

 

 

Source: U.S. Mission to ASEAN