More numbers on the garment sector impacts in Cambodia:
About 70 factories have shut their doors since the economic crisis started to hit Cambodia last August, and more than 51,000 workers have lost their jobs or seen their contracts suspended, say industry officials.
“We have received only 60 percent as many orders as last year, and that figure may continue to decrease without urgent measures,” said Van Sou Ieng.
Typically, GMAC is attempting to blame the unions:
Van Sou Ieng called Sunday for the country’s 1,000 unions to limit their activities while the sector faces problems.
“Some union activities are leading to fewer orders and are leading to thousands of job losses, so [unions] must be careful with their actions,” said Vann Sou Ieng. “I would like to publicly announce to the world that no matter what obstacles we face, Cambodia will not die. I will try to look for new markets and new buyers.”
Chea Mony, president of the Free Trade Union of Cambodia, rejected the GMAC accusation, saying that many of the factories closing down were simply avoiding taxes.
“This is just GMAC’s accusation,” he said. “GMAC cannot blame strikes – there have been no strikes in the first two months of 2009, but 70 factories closed.”
Don’t worry Erik- they are expecting the garment sector to recover in the second quarter: http://news.xinhuanet.com/english/2009-03/16/content_11017850.htm
And the US Recession could end this year!
http://economictimes.indiatimes.com/US-recession-could-end-this-year-Bernanke/articleshow/4270074.cms
See? Everything will be Just. Fine. Also- unicorns are real!
you are killing me, Alison. I saw those stories, and didn’t think they were worth commenting on. But hey – Unicorns? I’m down.
In fact the sector is down by around 70%, according to ministry figures.
Thanks for that Mukloi, – much worse of a number….