PM Predicts 2022 Economic Growth at Over 5%; Stating No More COVID Shutdowns

23 November 2021
Local News
2002 Views

Prime Minister Samdech Hun Sen has forecasted Cambodia’s 2022 economic growth at over 5% as economic activities begin to recover after the reopening on 1 November, stating there will be no more backward moving after this.

PM Hun Sen made the remarks during the inauguration ceremony of the Cambodia-China Friendship Stueng Trang-Krouch Chmar Bridge and the groundbreaking ceremony NR71C on 23 November. (Read more)

“Next year, as stated in the budget law, economic growth is forecasted at 4.2%, but I think it could exceed 5%,” PM Hun Sen said.

He expressed his strong commitment to continue the government’s re-opening of social and economic activities as the COVID-19 pandemic has been brought under control.

Given the optimism, PM Hun Sen has also announced that Cambodia plans to spend over US$2.3 billion of the national budget to develop infrastructure nationwide and at least US$100 million will be used to build hundreds of bridges across small rivers and water streams. (Read more)

- Video Advertisement -

Nippon Koei and Inoue Calcium Target Cambodian Cashew Processing Industry

31 January 2025

Two foreign companies, Nippon Koei Business Partners Co., Ltd. and Inoue Calcium Corporation, are set to make significant investments in Cambodia’s growing cashew processing sector. They aim to enhance the quality of cashew nuts for export, particularly to Japan. On January 30, 2025, two important meetings took place that could impact the future of Cambodia’s […]

Cambodia’s Real Estate Market Faces Mixed Signals Amid Regional Benchmarks

27 January 2025

Cambodia’s commercial real estate market reveals significant challenges with office occupancy rates at 65.1%, well below the international benchmark of 85-90%, while maintaining premium rents at $27 per square meter, according to the “Fearless Forecast” report presented by CBRE Cambodia Chairman Marc Townsend at Novotel Phnom Penh BKK1 on 14 January 2025. The retail sector […]

Vietnam’s USD 67 Billion High-Speed Rail Project Charts Independent Path, Shunning Foreign Investment

26 January 2025

In a groundbreaking move that signals Vietnam’s growing economic confidence, the Vietnamese National Assembly has approved an ambitious USD 67 billion high-speed rail network connecting Hanoi to Ho Chi Minh City, with the revolutionary decision to fund the megaproject primarily through domestic sources rather than traditional foreign investment, according to an announcement from the National […]

Sihanoukville Autonomous Port Sees Striking Growth in 2024 Revenues

23 January 2025

In a year of remarkable achievements, the Sihanoukville Autonomous Port has emerged as a standout performer in Cambodia’s logistics sector, with projected earnings exceeding USD 110 million in 2024. According to a recent report from the Ministry of Public Works and Transport, this impressive financial leap marks a growth of over 24% compared to last […]

Cambodia to Establish Private Business Centers in the UK and India to Attract Investors

22 January 2025

Cambodia is set to establish private trade centers in London and New Delhi to promote Cambodian products in international markets and draw foreign investors. This initiative was discussed during a meeting on January 20, 2025, between Lok Chumteav Chamnimol, the Minister of Commerce, Tycoon Lim Bunsour, CEO of AZ Group, and Mr. Jas Sohl, Director […]

Cambodia Poised for Economic Windfall as U.S. Trade Policy Shifts from Vietnam

20 January 2025

Cambodia stands to emerge as a major beneficiary of potential U.S. trade policy shifts, with experts predicting significant manufacturing opportunities if Donald Trump returns to office, particularly as Vietnam faces possible trade tariffs similar to those previously imposed on China, according to 2025 Fearless Forecast shared at a Real Estate Forum in Novotel Phnom Penh […]