Local News
Angkor Wat Secures its Prestige as Eighth Wonder of the World, Surpassing Italy’s Pompeii
In a momentous declaration, the esteemed status of the eighth wonder of the world was officially announced. Angkor Wat’s ascension to this prestigious rank signifies its triumph over Italy’s historic city, Pompeii. This declaration was made by Samdech Hun Manet, Prime Minister of Cambodia, on 24 November 2023. As per reports from India TV English […]
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ADB Fuels Cambodia’s Fiscal Evolution with a US$50m Boost
The Asian Development Bank (ADB) takes a significant stride in fortifying Cambodia’s financial landscape, greenlighting a substantial US$50 million loan to bolster the nation’s public financial management (PFM) system, encompassing public investment. This noteworthy development is illuminated in an official ADB press release. Jyotsana Varma, ADB Country Director for Cambodia, underscores the pivotal role of […]
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WB Warns: Limited transportation and logistics and unreliable power supply slowed Cambodia’s economic recovery
The World Bank warns that Cambodia’s economic growth may be further affected by weak global demand or rising food prices for the future as domestic issues face rising household debt and domestic credit. Real estate remains a risk, according to WB’s press release on 22 November 2023. External Challenges: A Global Tapestry Impacting Local Prosperity: […]
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Japan-Cambodia Association Set to Boost SMEs with New Phnom Penh Headquarters
In a pivotal move to fortify economic ties and promote small and medium enterprises (SMEs), the Japan-Cambodia Association (JCA) unveils plans to inaugurate its office in Phnom Penh. His Excellency Takahashi Fumiaki, President of JCA, confirmed this strategic initiative during a meeting with His Excellency Sar Sokha, Deputy Prime Minister, and Minister of Interior on […]
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National Road 48 Upgrade Hits Milestone with 38.26% Completion
The ongoing National Road No. 48 rehabilitation project has reached a significant milestone, achieving 38.26% completion as of 23 November. The project, aimed at enhancing the road’s quality and overall infrastructure, is on track for its scheduled completion by the end of April 2025. This progress was updated in a recent inspection led by HE […]
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Gov’t Unveils Non-Tax Incentives to Revitalise 364 Stagnant Buildings in Sihanoukville
In response to the challenge posed by nearly 400 incomplete buildings in Sihanoukville, hindering the city’s progress, the Cambodian government has introduced groundbreaking initiatives aimed at revitalising these stagnant projects. Out of a total of 965 construction projects in Sihanoukville, equivalent to 1,069 buildings with a substantial investment capital of US$4,056,152,112, the urgency for intervention […]
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Koh Norea Aspires to New Heights with a Towering 555-Metre Landmark
In an audacious venture set to redefine Cambodia’s skyline, the Overseas Cambodia Investment Corporation (OCIC) unveils plans for a colossal building soaring over 500 metres in the Koh Norea development area. OCIC Deputy General Director, Touch Samnang, confirmed the project on 21 November, revealing that despite initial intentions, the pandemic had temporarily delayed its implementation. […]
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KOICA’s US$2M Grant for Svay Rieng Irrigation & Water Supply Study Project
The Korea International Cooperation Agency (KOICA) has bestowed a generous grant of US$2 million for the realisation of a vital feasibility study project. The initiative, focusing on the implementation of the ‘Water Supply and Flood Reduction Measures Project in the Prek Neal Basin in Svay Rieng Province’, marks a collaborative effort between Cambodia’s Ministry of […]
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World Bank’s Sustainable Move: US$163m Pledged for Water & Sanitation Advancements in Four Cambodian Provinces
In a landmark decision, the World Bank has greenlit a groundbreaking US$163 million initiative aimed at fortifying water and sanitation services across four pivotal provinces in Cambodia—Battambang, Pursat, Mondulkiri, and Kandal. This transformative project, spanning six years, is poised to directly impact over 175,000 individuals, primarily benefiting the marginalised and underserved populations in rural areas. […]
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Six Factories Set to Transform Cambodian Industries in Four Provinces with US$32m Investment
The Council for the Development of Cambodia (CDC) has greenlit the registration of six companies. These enterprises are poised to construct state-of-the-art factories, injecting a collective investment of US$32.26 million into the thriving provinces of Kandal, Kampong Chhnang, Kampong Speu, and the bustling capital, Phnom Penh. The CDC announcement on 21 October 2023, signals a […]
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