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Bentley Systems Announces Winners of the 2024 Going Digital Awards
- 27 October 2024
The company also recognises select projects with Founders' Honors for advancing infrastructure VANCOUVER (Bentley Systems' Year in Infrastructure 2024), October 9, 2024 - Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, today announced the winners of the 2024 Going Digital Awards. The annual awards honour the extraordinary work of infrastructure prof...
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Australia Invests USD 65 Million to Enhance Cambodia’s Economic Growth through CAPED Program
- 26 October 2024
The Australian Government has committed approximately AUD 87 million (USD 65 million) in new grant funding to the Cambodia-Australia Partnership for Sustainable Economic Development (CAPED) program, aiming to bolster Cambodia's economic resilience and growth. The announcement was made through a press release from the Ministry of Economy and Finance on 17 October 2024. The CAPED program represen...
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Cambodian Gov’t Reduces 2025 Budget to USD 9.32 Billion Amid Strategic Economic Planning
- 26 October 2024
The Cambodian government has approved a 2025 budget bill totaling approximately 37.95 trillion riels (USD 9.32 billion), marking a reduction from the 38.83 trillion riels (USD 9.54 billion) allocated for 2024. The budget cut came as part of a strategic approach to economic planning. It was endorsed during a cabinet meeting chaired by PM Samdech Hun Manet on 25 October 2024, according to an officia...
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Chinese Company Eyes Expansion of SEZ Investments Upon Completion of the New Takhmao Techo Airport
- 26 October 2024
Shanghai Geoharbour Group has announced plans to broaden its investment portfolio in Cambodia, with a focus on developing additional special economic zones (SEZs) alongside constructing the Takhmao Techo International Airport. The initiative was discussed in a meeting on 21 October 2024, where the company's delegation met with HE Sun Chanthol, the Deputy Prime Minister and First Vice President of ...
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PM Celebrates Inauguration of USD 62 Million Dam Rehabilitation Projects in Mondulkiri
- 25 October 2024
Three major dam rehabilitation projects in Mondulkiri, the Otethipadi, Sen Sokdom, and Sen Monorom dams, have officially been inaugurated, representing a USD 62 million investment aimed at transforming the province's water infrastructure. The inauguration ceremony, presided over by PM Hun Manet, marked a significant step towards improving local livelihoods, with the projects set to supply clean...
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Bokor Mountain Cable Car Project Under Study by Sokimex, Doppelmayr & Confluences
- 25 October 2024
Sokimex Investment Group (SIG) has granted permission for Doppelmayr and Confluences to explore the feasibility of a cable car system on Bokor Mountain in Kampot province, aiming to boost tourism and economic growth. This announcement was shared on the official Facebook page of SIG on 21 October 2024, confirming the companies' involvement in assessing the technical and economic aspects of the proj...
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Hungary Pledges Support to Boost Foreign Investment in Cambodia
- 25 October 2024
Hungary has vowed to expand its cooperation with Cambodia by actively encouraging foreign investors to explore and pursue business opportunities within the kingdom, aiming to strengthen trade and economic ties. The commitment was expressed by HE Tibor Baloghd, the Hungarian Ambassador to Cambodia, during a meeting with Samdech PM Hun Manet on 23 October 2024. During the meeting, Ambassador Tibo...
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CBRE: Cambodian Real Estate Faces Divergent Trends Amid 2024 Economic Growth
- 24 October 2024
Cambodia's real estate market in the final quarter of 2024 reveals diverse trends, marked by an estimated 5.8% GDP growth rate and 4.3 million international tourist arrivals in the first eight months, yet a decline in construction investment approvals to just USD 2.19 billion, involving fewer than 3,000 projects. The latest report by CBRE Research, based on data from the World Bank, Asian Developm...
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Gov’t to Launch Three Major Water Storage Systems for Agriculture & Eco-Tourism
- 24 October 2024
The Ministry of Water Resources and Meteorology has unveiled plans to establish three large-scale Cascade Systems for rainwater storage in the Cardamom Valley, Oral Mountains, and Pich Nil Waterfall, aimed at bolstering water management for agriculture and tourism. The announcement was made by HE Chan Sinath, Secretary of State for the Ministry of Water Resources and Meteorology, during a site ...
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Major Highway Expansion Completed to Boost Thai-Cambodian Trade & Regional Connectivity
- 24 October 2024
The Thai Department of Highways has announced the full completion of the Highway 317 expansion project, upgrading the route from Chanthaburi to Sa Kaeo from two lanes to four lanes. The project, which spans over 16 kilometers and costs approximately USD 26 million, aims to enhance trade and economic growth between Thailand and Cambodia by strengthening infrastructure and regional connectivity. Pat...
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PwC Slapped with Record USD 62.2m Fine and Six-Month Ban Over Evergrande Audit Failures
- 23 October 2024
PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record USD 62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are part of Beijing’s broader crackdown on financial mismanagement and efforts ...
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Thailand Pitches “6 Countries, 1 Goal” Initiative to Boost ASEAN Tourism
- 23 October 2024
Thailand has proposed a groundbreaking tourism initiative named "6 Countries, 1 Goal" to strengthen collaboration and tourism flow within the ASEAN region. The proposal, aimed at creating seamless travel experiences across Brunei, Cambodia, Laos, Malaysia, Vietnam, and Thailand, was discussed during a meeting on 21 October 2024 between Mr Dusit Menapan, adviser to the Thai Foreign Minister, and...
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