According to India Exim Bank’s Study, CLMV countries are amongst the fastest growing countries not only within the ASEAN region, but also globally. Moreover, CLMV countries have the lowest wage rates among ASEAN countries leading to lower costs of production. Though the current pandemic and subsequent measures to contain the spread had hit economic activities hard in the first half in the region, through reduced tourist arrivals, disrupted supply chains and dwindling external demand, the economies are already on a path of recovery.
