Ceylon tea to pay off Iran’s debt for oil

Low on funds According to Sri Lanka, it paid off some of its $251 million oil debt by selling $20 million worth of tea to Iran. Following discussions with Iranian Foreign Minister Hossein Amir-Abdollahian, the office of Prime Minister Dinesh Gunawardena said that $20 million worth of tea has been sold to Iran under the terms of the barter trade deal. The agreement to exchange tea for oil was reached in December 2021, but shipments were postponed due to the economic crisis in Colombo, which resulted in the resignation of President Gotabaya Rajapaksa in July 2022. With the barter, Sri Lanka can pay for imports with tea while sanctions-hit Iran is spared from using limited cash. Everyday Star

Vietnam

developing real estate market

According to a recent poll by real estate firm CBRE, Vietnam is the second most sought-after rising property market in the Asia Pacific, behind India. Thailand ranks third in the study, which asked investors in the area about their investment intentions for 2024 during the last two months of 2023. According to the report, investors find office and industrial real estate to be the most alluring. Investor interest in industrial real estate is a result of the growing need for supply chain management and logistics in Vietnam due to the country’s expanding trade operations. Land for housing is also very appealing to foreign investors, who are actively looking for properties that are being sold at a bargain or whose owners are having financial or legal issues. Vietnamese Express

Malaysia

Increased traffic after the removal of visas

In the last two months, airport passenger traffic in Malaysia has increased by double digits as a result of the government granting 30-day visa exemptions to tourists from China and India starting on December 1. According to Transport Minister Anthony Loke Siew Fook, the expansion would boost the travel and tourism industry and fortify the Malaysian economy. “The value of the ringgit will be strengthened if we can grow the tourism sector,” he said. 81.9 million passengers used airports in the year, the most since the Covid-19 epidemic. As of 2022, Malaysia has 147 air routes internationally, as opposed to 121 destinations. The Star

Thailand

Attracting planes to more compact cities

For the four-day “Air-mazing Thailand” campaign, which aims to investigate the potential of certain airports and unexplored markets in the nation, up to thirty airlines have signed up. According to Tourism and Sports Minister Sudawan Wangsuphakijkosol, the April 2–5 campaign would support the government’s aim of boosting tourism in lower-tier provinces and positioning Thailand as a major worldwide travel destination. “We aim to divide international arrivals because the big three airports—Suvarnabhumi, Don Mueang, and Phuket—are overflowing with travelers and flights,” the spokesperson said. “This should lessen traffic at major cities’ airports and generate revenue for other provinces through tourism.” The Country