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NEWS UPDATES Asean Affairs    11 October 2012 

Cambodia 2nd among fastest-growing economies Asean


Cambodia is projected to be one of the fastest growing developing economies in the Asia-Pacific region over the next five years, the International Monetary Fund (IMF) says.

In its annual World Economic Outlook released yesterday, the IMF said that Cambodia was also expected to be the second-fastest growing Asean economy over the same period. Only Laos is forecast to expand more rapidly.

GDP growth in Cambodia is projected to reach 7.7 per cent in 2017.

The only developing Asian economies expected to grow faster are Bhutan (10.7 per cent), Timor-Leste (9.0 per cent, China (8.5 per cent) and Laos (7.8 per cent).

With GDP projected to expand by 6.7 per cent in 2015, Cambodia is similarly positioned against its regional peers with only the same four countries growing faster.

With slower growth of 6.5 per cent expected this year, Cambodia is eclipsed by the same four as well as Papua New Guinea, the Solomon Islands and Sri Lanka.

Despite the high pace of economic expansion over the next five years, the IMF says it expects Cambodia's inflation to remain low. Increases in consumer prices are forecast to be less than 5.0 per cent in 2012, 2015 and 2017.

The outlook, released in Tokyo where the annual meetings of the IMF and World Bank are taking place this week, came only four days after an IMF mission completed a 10-day visit to Cambodia.

An IMF statement released after the visit noted that "resilient exports, robust tourism, and a strong real estate recovery continue to support Cambodia’s economy despite the global slowdown."

Over the medium term, Cambodia’s growth rate could reach about 7.5 per cent "provided there is continued improvement in the business climate, infrastructure, and public service delivery," the statement said.

Read the rest of the Story below...


First time outside China and first time in Bangkok: A Multi-Billion$ industry event
The 7th Railworld Summit 2012, Oct 24-26, 2012. The Dusit Thani hotel, Bangkok, Thailand

China’s leading event organizer CDMC (China Decision Makers Consultancy) and AABC (AseanAffairs Business Council) – the business platform of C.I.A. (China-India-Asean) and AseanAffairs- the only global media dedicated to SE Asia brings to Bangkok and Asean for the first time, the prestigious Rail World Summit 2012 to be held for the seventh time and first time outside China.

Southeast Asia is one of the most dynamic, fast-growing regions in the world today. It offers a market of 590 million people, rich natural resources, skilled labor, and an export industry concentrated in global high-growth sectors – all tied together in a free-trade area, ASEAN.

This year’s event will enter a new chapter in Bangkok, Thailand, 24th-26th October. The three-day summit will address the most critical industry issues in Southeast Asia and globally and will draw attendees from government, railway authorities, projects, equipment and technology companies, aiming to help to gauge the pulse of this dynamic industry and get caught up with the most cutting edge railway technologies.

The market for rail technology in Southeast Asia currently has a volume of approximately EUR 1.8 billion. The market will grow at a significantly higher level than other regions. We expect growth of 6% per year to around EUR 2.4 billion in 2016. Though the region makes up only a small share of market volume for railway technology in Asia compared to China, India and Japan, the region is very interesting for international players due to its relative openness and low local competition.

The summit has been extended to feature a post-congress full-day site tour on the third day, which is a tailor-made site visit with high-end reception designed to witness the remarkable advancement of industry facilities, and will leave with practical skills and new contacts.

The conference will draw over 270 participants, bringing together with government and association, railway authorities, metro/LRT operators, project owners, planning & design institutes, equipment & technology vendor and IT solution companies.

Some of the confirmed companies
from Europe, USA, China, India, Japan, Korea, Cambodia, Thailand, Indonesia, Malaysia......Beijing Subway Operation Co., Ltd,  Siemens, Chongqing Rail Transit Corporation, AEG Brazilian National Agency for Land Transport, Rutherford Global Power, China Railway Group Limited,  Balfour Beatty Rail,  Shanghai Shentong Metro Co., Ltd, Ministry of Railways P.R.C., ADB ,Knorr-Bremse SfS GmbH, Indian Railways, Beijing-Shanghai High-Speed Railway Co., Ltd, Bayer Materials, Korea Rail Networks Authority, GE Transportation,  BAE Systems, ABB Ashurst, EAO Zoller + Fröhlich GmbH, Kawasaki Heavy Industries Ltd.,Rockwell  Hitachi Cable, Nexans WaveTrain Systems, Itochu, Cisco   RZD ZOOMLION Komatsu, Halfen Rail Innovation Australia Pty Ltd, MAHLE Behr Industry Cooling Equipment (Tianjin) Co., Ltd.  Böhler Uddeholm, MITSUBISHI ELECTRIC CORPORATION, Rogers (Shanghai)

International Trading Co., Ltd. Freshfields Bruckhaus Deringer TOLL, Royal Cambodia railways, Nanjing Metro, Delhi Metro Rail Corporation,Konkan Railway Corporation Ltd. , Beijing Dinghan Tech Co., Ltd. , HOPPECKE Battery System GmbH, Crane Aerospace, CSM ERL Maintenance Support Sdn Bhd, Metrosolution Zublin, Mitsui & Co., Ltd., Fuji Electric, Voestalpine BWG GmbH & Co.KG, MRT Jakarta,  TUV Rhainland, Beijing General Municipal Engineering R & D Institute,  Guangshen Railway Co., Ltd   MOOG   Centro Sviluppo Materiali SpA Ashida ELECTRONICS (P) LTD. ,Technical Expert Network, UBM, Jindal Steel, Herbert Smith Bureau Veritas, China Railway 23rd Bureau Group Co.,Ltd. Bangkok Metro, Bangkok Metropolitan Authority, Land Public Transport Commission (SPAD, Malaysia).

Hurry! Seats are Limited! Receive discounts on Individual & multiple bookings before 5 Oct 2012.
Email to request for Delegate Registration Form, Agenda, Sponsor Prospectus.

Or Register at:


Despite the favourable growth outlook and recent export performance, "spillover risks from the still uncertain global recovery remain considerable," it warned.

"Potential downside risks in Cambodia could be a complicating factor, stemming mainly from potential labour market instabilities, extreme weather conditions, and rapid credit expansion affecting banks’ health."

At more than 30 per cent so far this year, the IMF noted that private sector credit growth was among the highest in Asia and being fuelled by easy domestic and global financial conditions as well as banks eager to lend.

The report also noted improvements in the power sector and rural infrastructure along with increasingly diversified foreign direct investment amid positive spillovers from Asia’s rebalancing. These "could provide a stronger-than-expected boost to Cambodia’s growth," it said.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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