Cambodia’s Manufacturing Sector Expands with 2,175 Factories and Over 1.1 Million Jobs
As of the first half of 2024, the Ministry of Industry, Science, Technology, and Innovation (MISTI) has registered a total of 2,175 manufacturing factories, up from 1,997 in the same period last year. These factories collectively employ about 1.1 million workers, according to a recent report from the National Bank of Cambodia, issued last week […]
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Cambodian Senate Approves Landmark Air Transport Law to Boost Aviation Sector
In a significant move to bolster Cambodia’s aviation industry, the Senate has unanimously approved the draft law on international air transport. The approval, achieved with 56 out of 56 votes during the extraordinary session of the Senate of the 5th legislature, was held under the chairmanship of Samdech Techo Hun Sen on 31 July 2024. […]
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The Gov’t Establishes Special Task Force to Expedite Tax Audits
In a decisive move to enhance the business and investment environment, the Cambodian government has established a special tax audit unit under the General Department of Taxation of the Ministry of Economy and Finance. This unit aims to expedite the resolution of tax audit issues and ensure compliance with existing laws and regulations. The decision […]
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Cambodia to Establish Private Business Centre in Macau to Expand Overseas Markets
The Cambodian Ministry of Commerce is preparing to establish a Cambodian Private Business Centre in Macau to boost overseas markets. This initiative aims to promote the export of Cambodian products and enhance international trade relations. The announcement came following a site inspection by a delegation led by Mr. Seang Thai, Secretary of State of the […]
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SHV Welcomes 2.8 Million Tourists in First Half of 2024, Including 200K Foreign Visitors
In the first six months of 2024, Sihanoukville attracted a total of 2.8 million tourists, including 200K foreign visitors, showcasing a significant increase from the previous year. This information was revealed during a meeting between HE Mang Sineth, Governor of Sihanoukville Province, and Mrs. Tuy Le Chheng, Ambassador of Singapore to Cambodia, on 29 July […]
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Korea Pledges US$10 Million Cooperation Fund to Boost Mekong Development by 2027
The Republic of Korea has pledged to increase its financial contribution to the Mekong-Republic of Korea Cooperation Fund to US$10 million by 2027, aiming to bolster sustainable development and environmental protection in the Mekong subregion. This commitment was announced in a press release on 28 July 2024. During the 12th Meeting of the Foreign Ministers […]
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Golden Port SEZ to Establish 270-Hectare SEZ Along Sihanoukville Expressway
Golden Port SEZ Development Co., Ltd. has unveiled plans to establish a 270-hectare special economic zone along the Phnom Penh-Sihanoukville Expressway, aiming to bolster industrial diversification in Cambodia. The announcement was made following a meeting on 29 July 2024 between Mr. Chea Vuthy, Secretary General of the Cambodian Investment Committee, and Mr. Kaing Leng, Chairman […]
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Cambodia’s Mid-2024 Economic Update: Sharp Decline in Credit Growth Signals Business Slowdown, Rising NPL Ratios Across Sectors
A significant decline in credit growth indicates a slowdown in business activities nationwide. This trend is accompanied by rising non-performing loan ratios (NPLRs) across all major sectors, including commercial banks, mortgages, construction, and real estate activities, according to recent data from the National Bank of Cambodia for Q1 2024 and updated by CBRE Cambodia on […]
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PPSEZ CEO: Digitalizing custom procedures can reduce 30% of Cambodia’s logistic cost and if Donald Trump Wins
The Phnom Penh Special Economic Zone (PPSEZ), a key industrial park in Cambodia, is diversifying its tenant base to attract more companies from Thailand and Vietnam, amid shifts in global supply chains. Housing over 90 tenants from 15 countries across 3.57 square kilometres, PPSEZ aims to complement Thailand’s supply chain and encourage production transfer from […]
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MLMUPC Issues Procedures for Registration of Private Sectors of Co-Owned Buildings Built Before December 19, 1997
The Ministry of Land Management, Urban Planning, and Construction (MLMUPC) has established new procedures for registering the private sections of co-owned buildings constructed before December 19, 1997, to safeguard legal property rights of occupants. This initiative is outlined in Prakas No. 050 ដនស/ប្រក/ក.ក.ច, dated 19 July 2024. The Prakas addresses co-owned buildings built before December […]
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Samdech Techo Pushes for Expedited Construction of NR No. 78.5 connecting Ratanakkiri to the Triangle Area
Samdech Techo Hun Sen, President of the Senate of Cambodia, has urged the new government to expedite the construction of NR No. 78.5, connecting Ratanakkiri Province and Banlung City to the “tail of the dragon” (Angle 3) with a length of over 166 kilometres. In a special message addressing the CLV development triangle (Cambodia, Laos, […]
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Kampong Speu to Plant Tens of Thousands of Palm Trees Along Stung Prek Tnaot
The provincial authorities in Kampong Speu have announced an ambitious plan to plant tens of thousands of palm trees along the Stung Prek Tnaot River and around local resorts, aiming to enhance the area’s beauty and attract more tourists. The initiative seeks to make Kampong Speu the province with the most palm trees in Cambodia, […]
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