Australia Invests USD 65 Million to Enhance Cambodia’s Economic Growth through CAPED Program

26 October 2024
Local News
753 Views

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 represents a significant collaborative effort between the Australian Government and key stakeholders, focusing on accelerating Cambodia’s social and economic progress. Since 1992, Australia has contributed AUD 1.3 billion (USD 1 billion) in aid to Cambodia, supporting various crucial sectors, including agriculture, education and training, governance, healthcare, demining, trade, clean water, clean energy, and COVID-19 vaccination efforts.

As part of strengthening bilateral relations, HE Dr. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance held discussions with His Excellency Derek Yip, Ambassador Extraordinary and Plenipotentiary of Australia, to Cambodia. The meeting aimed to expand further cooperation in financing, bilateral trade, and investment initiatives, laying the groundwork for deeper economic ties and enhanced development outcomes.

- Video Advertisement -

Cambodia’s Mining Sector Sees Significant Revenue Growth in 2024

21 May 2025

In a notable achievement for Cambodia, the Ministry of Mines and Energy reported nearly USD 100 million in non-tax revenue from the mining sector in 2024, reflecting an impressive increase of approximately 79% compared to the previous year. This growth highlights the country’s expanding mining activities, which now include numerous sites dedicated to both domestic […]

Cambodia Should Navigate Rising Global Uncertainty with a Multifaceted and Coordinated Policy Strategy

12 May 2025

Cambodia’s economic growth accelerated to 6.0 percent in 2024 from 5.0 percent in 2023, driven by a strong rebound in the garment sector. However, in light of unexpectedly high US tariffs, growth is expected to decelerate to 4.9 percent in 2025, due to its heavy reliance on exports to the US. A coordinated and multifaceted […]

Cambodia Sees Surge in International Tourist Arrivals in Early 2025

9 May 2025

In a promising start to the year, Cambodia welcomed nearly 2 million international tourists in the first quarter of 2025, marking a remarkable 16% increase compared to the same period in 2024. This growth was highlighted by His Excellency Minister Huot Hak, Minister of Tourism, during a recent meeting aimed at promoting the Green Season […]

Cambodia and Laos Forge Stronger Agricultural Ties to Expand Mango Exports

6 May 2025

In a significant move to enhance agricultural trade, Cambodia and Laos have reached an agreement to boost the export of Cambodian mango products to third countries via Laos’ high-speed rail system. This announcement was made during an official visit from April 30 to May 3, 2025, where H.E. Dith Tina, Cambodia’s Minister of Agriculture, met […]

China’s Steel Exports to ASEAN Surge, Sparking Concerns Among Regional Producers

5 May 2025

In a significant development for the steel industry, China’s steel exports to ASEAN countries have skyrocketed in the first quarter of 2025, reaching 36.55 million tons. This figure constitutes approximately 70% of China’s total steel exports and marks a staggering 32% increase year on year, according to a recent report by Yieh News. The report […]

Exciting Prospects for Cambodian Agricultural Exports

2 May 2025

In a significant development for Cambodia’s agricultural sector, Angkor International Airport Investment (Cambodia) Co., Ltd. (AIAI) has expressed a strong interest in investing in the export of Cambodian agricultural products to China and other international markets. This announcement was made during a productive meeting on April 7, 2025, between HE Minister Dith Tina and Mr. […]