ADB’s $2.4M Boost to House State-of-the-Art Chuon Nath Library, Largest in Cambodia
The Asian Development Bank (ADB) has allocated a generous sum of US$2.4 million for the construction of the Chuon Nath Library at the National Institute of Education. The groundbreaking ceremony, led by HE Dr Hang Chuon Naron, Deputy Prime Minister and Minister of Education, Youth, and Sports, took place on 29 November 2023. The initiative, […]
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Cambodian Gov’t Abandons US$1.5billion Coal Power Plant for Sustainable Energy Future
In a monumental shift towards environmental responsibility, Cambodia has chosen to forgo the construction of a US$1.5 billion 700MW coal-fired power project in a protected reserve along the southwestern coast. Instead, the nation is set to embrace a cleaner future by establishing an 800MW natural gas-fired plant, revealed HE Keo Rottanak Minister of Mines and […]
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Chinese Police Initiates Probe into Zhongzhi Bankruptcy with US$60m Debt
In a significant turn of events, Beijing police have officially launched an investigation into Zhongzhi, a colossal financial conglomerate, following its recent descent into debt and subsequent bankruptcy. This is according to the publication of Hong Kong media The Standard published on 26 November 2023. Despite its low profile, Zhongzhi has played a pivotal role […]
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USAID Pledges US$24M to Propel Biodiversity and Conservation Initiatives in Cambodia
USAID unveils a groundbreaking five-year project, injecting US$24 million into safeguarding biodiversity and natural resources while enhancing the well-being of Cambodian communities. The official announcement was made through a USAID press release on December 4, 2023. Through the “USAID Conservation” project, the focus is on empowering communities to spearhead initiatives that create local employment opportunities […]
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Gov’t Designates Four Areas as Techo Historical Heritage for Cultural &Tourism Development
The Cambodian government has officially designated four areas, collectively known as the Techo Historical Heritage Area, in Sub-Decree No. 155 dated 11 July 2023. These areas encompass the Military Historical Area within the 3rd, 4th, and 5th Military Zones, along with the Anlong Veng Historical Area. The primary objective behind this designation is to ensure […]
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US Commits US$4m Over Two Decades to Phnom Bakheng Temple Restoration
Embarking on a steadfast commitment to cultural preservation, the United States Ambassadors Fund for Cultural Preservation (AFCP) has, since 2004, extended unwavering support to the World Temple Fund (WMF) for the restoration of Cambodia’s iconic Phnom Bakheng temple. Since 2004, eight grants amounting to a commendable US$4 million have been allocated for conservation endeavors, with […]
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Cambodia Unveils Strategic Tax Incentives Propelling Economic Growth Across Key Sectors
The Cambodian government has rolled out a series of tax incentives, particularly in the real estate sector, showcasing a commitment to fostering business resilience and invigorating the national economy amidst the COVID-19 pandemic. The real estate industry, a pivotal driver of Cambodia’s economic recovery, enjoys exemptions from property tax in selected areas, coupled with a […]
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Ambitious Reusable iSpace Chinese Rocket Test Successfully Launched
China’s leading private space company, Beijing Interstellar Glory Space Technology Ltd., commonly known as iSpace, achieved a milestone on 2 November 2023 according to Space News. The company successfully launched and safely landed a test article known as the Hyperbola-2Y single-stage hopper at the Jiuquan Satellite Launch Centre, a significant step towards China’s ambition to […]
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Angkor Wat Rakes in Over US$32 Million in Ticket Sales in 11 Months Amidst Surging Tourist Numbers
In a spectacular achievement for Cambodia, the first 11 months of 2023 witnessed an impressive revenue of US$32,546,847 from the sale of Angkor tickets to nearly 700,000 foreign tourists. Revealed in a recent report by the Angkor Institute on 1 December 2023, this remarkable figure signifies a remarkable surge of 261.12% compared to the same […]
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Borey Peng Huoth cooperates with 11 banks to provide great loans
No more worries about the financial problems of buying your dream home, because Borey Peng Huot has cooperated with 11 partner banks, including J Trust Royal Bank, Sathapana Bank, Bank of China, May Bank, Bred Bank, BIDC Bank, Shinhan Bank, CIMB Bank, Hong Leong Bank, IMB MB Bank (Cambodia) Plc.) And FTB Bank (FTB Bank) […]
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Gov’t Initiates Fee Waiver to Expedite Land Registration Process
The Ministry of Interior has announced a waiver on service fees for applications related to land history certificates and their certificates. The directive, outlined in letter 3351 សជណ dated 29 November 2023, extends this exemption to all commune/Sangkat administrations in the capital and provincial areas. The decision aims to accelerate the nationwide land registration initiative, […]
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CDC Approves Construction of Five New Factories Valued at US$35.3M in Three Provinces & Phnom Penh
The Council for the Development of Cambodia (CDC) has given the green light to five companies for the establishment of new factories, with a combined investment of US$35.3 million. These ventures are expected to generate 8,761 job opportunities for residents in Takeo, Kampong Speu, Kandal, and Phnom Penh, according to the CDC on 30 November […]
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