VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Three years of COVID-19 forced Becky Zhang’s specialty food business in Macau to near collapse. Founded by her grandmother more than fifty years ago, her store selling pastries and dried beef only survived thanks to residents who bought small quantities to help keep them afloat.

Now, even after the recent reopening of the world’s biggest gambling hub, tourists are few and many businesses are shuttered, underlining analysts' views that a recovery will be uneven and take some time.

“Macau has not seen any improvement after the recent reopening of the city because many people are infected with COVID, many shops are unable to open, and no staff are working,” 40-year-old Zhang said.

“Now not even 1% of the people come to Macau. Many shops on this street closed because they couldn’t hold on…it’s miserable.”

Macau, a special Chinese administrative region, closely followed China’s tough zero-Covid strategy since 2019. But in line with mainland China, it reversed course toward living with the virus on Dec. 7.

The densely populated hub of 700,000 sits on China's southern coastline and has an open border with the mainland, with many people living and working in neighbouring Chinese city Zhuhai.

However, Macau has been closed off to the rest of the world, including neighbouring financial hub Hong Kong, for the past three years.

On Dec. 22, Macau authorities announced that international arrivals including those from Hong Kong and Taiwan no longer needed to undergo a nucleic acid test after landing and could move freely, the biggest steps yet to relax stringent COVID measures. Previously visitors were also required to quarantine in a self-paid hotel for a week.

Since reopening, Macau has grappled with a widespread COVID-19 wave, impacting the number of workers across the city. There has been no sizable uptick in visitor volume in the past week, with industry executives forecasting little change until the Lunar New Year holiday starting on Jan. 21.

Some tourists who managed to travel to Macau from the mainland for Christmas said they were happy about the lack of crowds.

Huang Dandan , a 22-year old woman visiting the Ruins of St Paul, one of its most famous landmarks, said she didn’t mind many of the shops being closed due to the pandemic.

“It’s easier for us to take good pictures at popular locations, so I am very happy about it.”

Shanghai residents Oscar Beltran and his wife Marta, originally from Spain, said Macau was their first family holiday in three years.

“Everyone is so excited, people are outside. We are very happy to move around and travel again.” (Reuters)

South Korea's retail sales fell for a third straight month in November, data showed on Thursday, clouding economic growth in the current quarter as demand from China and other major markets loses momentum.

The retail sales index fell 1.8% in November, on a seasonally adjusted monthly basis, after declines of 0.2% and 2.0% in October and September, the Statistics Korea data showed. The index rose 1.2% in the third quarter.

The finance ministry said in a statement soon after the data release that uncertainty was increasing over the economic growth path. The ministry reaffirmed its pledge to expedite spending in the early part of next year.

"The government will execute a record 65% of the next year's budget spending during the first half," it said in the statement, while promising flexible financial and economic policies to respond the increasing risks to growth.

A broader index measuring the whole service sector also decreased for a third straight month by 0.6% after falling 1.1% and 0.1% in October and September, respectively.

In the manufacturing sector, the output edged up by 0.4%, after four straight months of losses, although it posted the worst drop in 2-1/2 years of 3.7% on a year-on-year basis. (Reuters)

Vietnam's economy grew 8.02% in 2022, the fastest annual pace since 1997, backed by strong domestic retail sales and exports, but is facing headwinds from a global slowdown.

The reading is higher than an official growth target of 6.0%-6.5% and last year's growth of just 2.58%, when COVID-19 lockdowns left a dent on the economy and impacted factory activity.

The high annual growth number comes despite fears of a global recession and its impact on demand for exports from Vietnam, a key manufacturer of goods like textiles, footwear and electronics for big-name international brands.

"The economic performance is worth noting amid global economic and political uncertainty and challenges," the General Statistics Office (GSO) said in a report.

The industrial and construction sector in 2022 grew 7.78%, while the services sector expanded 9.99%, and the agricultural sector grew 3.36%, it said.

Exports in 2022 were up 10.6% to $371.85 billion, while retail sales rose 19.8%, the GSO said, while consumer prices in December rose 4.55% from a year earlier.

Though the economy in 2022 grew at the fastest pace in decades, economists warned it is facing headwinds ahead, with weakening global demand having already impacted its shipments.

"The slowdown in global economic growth is making it more difficult for Vietnam to boost its exports and attract more foreign investment next year," said Can Van Luc, an advisor to the government and an economist at the Bank for Investment and Development of Vietnam.

Luc said upward inflation pressure is also building following an increase in money supply towards the end of 2022, adding that "Vietnam has to import a lot of goods whose prices are still high, thus also pushing up pressure for higher inflation."

Exports in December fell 14% from a year earlier to $29.66 billion, while imports were down 8.1% to $29.16 billion. A decline in imports may indicate a future contraction in industrial production as firms cut their purchases of materials and equipment for production.

GDP growth in the fourth quarter was 5.92%, slowing from a growth of 13.71% in the third quarter, the GSO said. Third quarter growth was revised up from 13.67%.

Foreign direct investment (FDI) into Vietnam, one of the country's key economic driver, rose 13.5% this year to $22.4 billion, according to the government. But FDI pledges, which indicates future inflows, dropped 11% in the year to $27.72 billion.

Vietnam is targeting GDP growth of 6.5% and inflation at 4.5% for next year. (Reuters)

President Joko Widodo (Jokowi) met with a delegation led by ASEAN Secretary General Dato Lim Jock Hoi at Merdeka Palace here on Friday.

Foreign Affairs Minister Retno Marsudi, who was also present at the meeting, said that Lim Jock Hoi's visitwas aimed at expressing his gratitude for Indonesia's support to ASEAN when he served as secretary general.

"The most apparent and most beneficial support is Indonesia's contribution to the construction of the new ASEAN Secretariat," Marsudi said.

The construction of the new building is expected to boost the performance of the ASEAN Secretariat, she added.

"ASEAN meetings can be held in Jakarta at the ASEAN Secretariat Building," she said.

During the meeting, Lim Jock Hoi expressed confidence that Indonesia could become a good ASEAN chair in 2023, she added. The theme of Indonesia’s ASEAN chairmanship, “Epicentrum of Growth,” was considered fitting as the focus of discussion.

"The ASEAN secretary general stated that the economic development in each ASEAN country is quite promising. With such promising economic development, the theme of Indonesia's chairmanship, ‘Epicentrum of Growth,’ is very appropriate to (be highlighted)," she informed.

Marsudi said that this Friday, Lim Jock Hoi officially ended his duties as secretary general of ASEAN. In January 2023, he will return to Indonesia to hand over to the new secretary general, she added.

"Dato Lim Jock Hoi will leave Indonesia today to end his duties as ASEAN secretary general and will return again in early January 2023 to hand over as secretary general to the new ASEAN secretary general from Cambodia," she informed.

During the meeting, the President was accompanied by State Secretary Minister Pratikno. (Antaranews)