The Indonesian Government is planning to expand its social aid programme and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the economy in the second half of this year.
The Malaysian government has allowed traders to hold unlimited cheap sales in a bid to fuel consumer spending, thereby boosting the country's economy amid the COVID-19 pandemic.
Vietnam topped the world in terms of having the most avid savers with 72 percent, followed by Hong Kong (68 percent) and Singapore (65 percent), according to the Conference Board Global Consumer Confidence Survey released this week.
The Ministry of Finance (MoF) of Malaysia has launched a credit programme worth 750 million RM (179 million USD), aiming at boosting consumer spending in the country as one of initiatives under the Economic Recovery Plan (PENJANA).
Indonesia’s consumer confidence index (IKK) dropped to 77.8 in May from 84.83 in the previous month, indicating consumer pessimism about the domestic economy’s prospects, a Bank Indonesia (BI) survey has shown.
The closures of factories and sales outlets during the Movement Control Order (MCO) will result in an estimated 28 percent drop in new vehicles sales this year.
Vietnam is aiming to have 55 percent of its population shopping online by 2025, with average consumer spending rising to 600 USD per year, according to a master plan on e-commerce development for 2021-2025.
Vietnam is aiming to have 55 percent of its population shopping online by 2025, with average consumer spending rising to 600 USD per year, according to a master plan on e-commerce development for 2021-25 recently approved by Deputy Prime Minister Trinh Dinh Dung.
The Indonesian government is rolling out a 641.17 trillion rupiah (43 billion USD) economic recovery stimulus, bigger than previous allocations, to soften the impact of COVID-19 on micro, small and medium enterprises (MSMEs), as well as state-owned enterprises (SOEs).
Thailand’s consumer confidence slumped to a 21-year low in April as the public remained worried about the poor economy, unemployment and future income because of the COVID-19 pandemic.
Logistics companies have experienced a more than 50 percent decline in overall business performance since the COVID-19 outbreak hit Indonesia in early March, the Indonesian Logistics Association (ALI) reported.
The COVID-19 outbreak has hit fast-moving consumer goods (FMCG) businesses but not all categories and retailers will suffer negative impacts, according to global data and consulting company Kantar Worldpanel.
The Indonesian government announced on March 13 that it will allocate 120 trillion rupiah (8.1 billion USD) from the state budget to stimulate the economy by providing tax incentives and subsidies for workers, businesses and families affected by the COVID-19 outbreak.
Administrative and Bureaucratic Reform (PANRB Ministry) Minister Tjahjo Kumolo, Manpower Minister Ida Fauziyah, and Religious Affairs Minister Fachrul Razi have signed a joint decree regarding national holidays and collective leave in 2020.
The Asian Development Bank (ADB) has said Indonesia may not be affected severely by the global health emergency caused by COVID-19 outbreak, thanks to its minimal exposure to the global trade and its wide room to maneuver in monetary policy.
The personal care sector has enjoyed strong growth of 7 percent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment, according to a study by global data and consulting company Kantar Worldpanel.
Vietnam’s food processing and packaging industry has expanded by 15-20 percent annually over the past several years and is likely to grow further in the coming years, according to the Association of Vietnam Retailers (AVR).
Vietnam's private consumption growth will remain strong, supported by improvements in the labour market as youth unemployment falls, minimum wages grow and lower inflation levels prevail, experts forecast.
With an emerging market economy and continued strong growth, Vietnam is set to become one of the most dynamic markets in the world by 2030, according to Euromonitor International, a global market research company.
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