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ខ្មែរ Construction Focus
Canadian Investors Explores Investment Opportunities in Six Key Sectors in Cambodia
- 8 June 2024
A business delegation from the Cambodian Chamber of Commerce in Montreal, Canada, recently met with the Council for the Development of Cambodia to explore investment opportunities in six major sectors: agriculture and processing, tourism, health, real estate, services, and industry. The meeting, aimed at fostering stronger economic ties, took place on 5 June 2024.HE Nuth Un Vanra, Deputy Secretary...
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Cambodia & Turkey Agree to Boost Bilateral Trade to US$1bn
- 4 June 2024
Cambodia and Turkey have committed to enhancing their bilateral trade to US$1 billion in the near future. This agreement was announced in a press release by the Ministry of Foreign Affairs and International Cooperation on 30 May 2024. During a two-day visit to Turkey, Cambodian Foreign Minister Sok Chenda Sophea aimed to broaden cooperation across various sectors and implement agreements made b...
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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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MinebeaMitsumi to Invest Over US$320m in Expanding Operations in Cambodia & Thailand
- 14 May 2024
Japanese electronics supplier MinebeaMitsumi has announced plans to invest 50 billion yen (US$321 million) to build a new factory in Cambodia and expand a solar power plant in Thailand. This report was published by NIKKEI ASIA on 10 May 2024. MinebeaMitsumi will allocate 32 billion yen (over US$205 million) to construct a new factory in Cambodia, scheduled to commence operations early next year...
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