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ខ្មែរ Local News
Nine-Month Leadership Boosts Cambodia’s Economy to 6%, Tops ASEAN
- 4 June 2024
Under the nine-month leadership of the Cambodian government’s seventh mandate, the Cambodian economy is projected to grow by approximately 6% in 2024, making it the fastest-growing economy in ASEAN and the third in Asia post-COVID-19. This announcement was made by Pen Bona, Minister Delegate to the Prime Minister and a government spokesman, during a recent press conference on 21 May 2024. The 6...
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WLCC Explores Investment Opportunities in Cambodia’s Construction & Real Estate Sectors
- 31 May 2024
The World Lin Chamber of Commerce (WLCC) is investigating investment prospects in Cambodia's priority sectors, particularly construction and real estate. This initiative was discussed during a meeting between Mr Tan Sri Dato Lim Soon Peng, President of the World Lin Chamber of Commerce, and PM Samdech Hun Manet on 28 May 2024. Mr Tan Sri Dato Lim Soon Peng commended Cambodia's development, high...
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Cambodia Renames Third Ring Road to “Xi Jinping Boulevard” in Honour of Strengthened Ties with China
- 29 May 2024
In a significant move to honour the enduring partnership between Cambodia and China, the "Third Ring Road" has been officially renamed "Xi Jinping Boulevard". This key infrastructure, connecting NR No. 1 to NR No. 4 and spanning nearly 53 kilometres, was inaugurated in a ceremony presided over by Samdech Hun Manet and HE Wang Wentian, Ambassador of the People's Republic of China to Cambodia, on 28...
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AMRO Forecasts Cambodia’s Economy to Grow 5.6% in 2024 and 5.9% by 2025
- 28 May 2024
The ASEAN + 3 Macroeconomic Research Office (AMRO) recently released a positive outlook for Cambodia's economy, predicting a growth rate of 5.6% in 2024 and 5.9% in 2025. This upward trend signifies a significant improvement compared to the 5% growth recorded in 2023, according to AMRO press release on 23 May 2024. Garment Sector & Exports Fuelling Growth AMRO's chief economist, Jinho Ch...
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China Pledges US$10m to Bolster Cambodia’s Counterfeit Product Defences
- 21 May 2024
Cambodia and China are set to strengthen their collaboration in combating counterfeit goods. During a working meeting on 16 May 2024, the Suzhou Institute of Construction Science in China proposed a US$10 million investment to establish a state-of-the-art counterfeit product laboratory in Cambodia. This initiative, communicated by Mr. Jack Yang, Director General of the Institute, to HE Doeun Sovan...
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Cambodia Prepares Strategic Budget Plan 2025 to Weather Global Economic Headwinds
- 20 May 2024
The Cambodian government is taking proactive measures to safeguard its economic stability in the face of a challenging global economic climate. On 13 May 2024, Circular No. 06. US was issued, outlining the development of a strategic budget plan for 2025-2027, alongside a draft law on financial management specifically for 2025. This initiative underscores the government's commitment to enhancing ex...
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Australia Pours US$6.6m into Cambodia’s Water Development Fund
- 16 May 2024
In a significant move to bolster Cambodia's water infrastructure and management capabilities, Australia has pledged AUD10 million (US$6.6 million) to establish a dedicated water development fund, according to a meeting held on 13 May 2024 between HE Hem Vandy, Cambodia's Minister of Industry, Science, Technology and Innovation, and HE Pablo Kang, Chargé d'Affaires of the Australian Embassy. Bey...
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China Commits Up to US$100m for Advanced Water Purification in Cambodia
- 13 May 2024
Hainan Litree Purifying Technology Co., Ltd. from China has announced plans to invest between US$50-US$100 million in Cambodia's water sector over the next three to five years, focusing on water purification products using UF membrane technology. This announcement was made during a meeting between Dr Cai Yunlong, CEO of Hainan Litree Purifying Technology Co., Ltd., and HE Hem Vandy, Cambodia's Min...
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Gov’t Implements Measures to Enhance Sub-National Expenditure Efficiency by 2024
- 10 May 2024
In a bid to streamline fiscal management at the sub-national level, the Cambodian Ministry of Economy and Finance (MEF) issued a pivotal circular on May 7, 2024. The directive mandates prudent budgetary practices across all sub-national administrations, emphasising the need to curb unnecessary local development initiatives. Under the circular's provisions, capital-provincial administrations are...
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49km of Kratie Province Roads Revitalisation Hits Midway Mark: 53% Completion in Infrastructure Enhancement
- 8 May 2024
As of 8 May 2024, the Kratie Provincial Administration has reported a significant milestone in the enhancement of its transportation infrastructure, with the rehabilitation project of two main provincial roads reaching approximately 53% completion. Spanning nearly 49 km, Provincial Road No. 377 and Road 377A are undergoing extensive improvements to bolster the quality and maintenance of these crit...
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