World Bank Outlines Key Reforms to Elevate Cambodia to Upper-Middle-Income Status, Government Affirms Implementation Progress
Proclaiming the government’s dedication, Prime Minister Hun Manet has said, “The government steadfastly adheres to its commitment in realizing the aspiration of becoming an upper-middle-income country by 2030 and ultimately achieving a high-income country by 2050.” His unwavering commitment was underscored during a poignant address at the Cambodia Development Resource Institute conference in November. As […]
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Cambodia’s Economic Odyssey: Anticipated 6.4% Growth in 2024
The economic landscape of Cambodia is poised for robust expansion, with the National Bank of Cambodia forecasting a growth rate of approximately 6.4% in 2024. This optimistic projection, surpassing the 5.5% estimate for 2023, hinges on key sectors such as tourism, manufacturing, agriculture, and construction. In its comprehensive report on the economic and banking sector […]
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While China-Western Trade Tension Increases, China-ASEAN Trade Increases, with US$616bn Surge Projected
In the face of persistent trade tensions and escalating barriers between China and the West, a new analysis by Boston Consulting Group (BCG) forecasts a substantial surge in trade between China and the Association of Southeast Asian Nations (ASEAN). According to a zawya.com report on 9 January 2024, this burgeoning economic partnership is poised to […]
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HE Sok Siphana: China to Increase Investment with Cambodia in 2024
A promising outlook for Cambodia-China economic and trade cooperation in 2024 has been painted by Sok Siphana, senior minister and Chairman Emeritus of the Board of Directors of the Asian Vision Institute. Mr Sok envisions a year of deeper collaboration, emphasising that the steadily increasing bilateral trade and investment volumes between the two nations will […]
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CBRE Suggests Strategies for Cambodia’s Tourism: Navigating Recovery and Charting a New Horizon
In the wake of the global upheaval caused by the COVID-19 pandemic, Cambodia’s tourism sector emerges as a beacon of recovery, though challenges linger on the path to regaining pre-pandemic glory. In 2019, Cambodia witnessed a bustling 6.5 million international tourists. The pandemic cast a shadow in 2020, plummeting arrivals to a mere 1 million. […]
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Strategic Realignment: CBRE Cambodia Director Urges Developers to Reshape Approach for 2024
Marc Townsend, CEO of CBRE Cambodia, delivered a thought-provoking message at the “Fearless Forecast 2024” workshop, challenging real estate developers to shift their focus from new projects to optimising existing inventory. Speaking at the Oakwood Premier Hotel in Phnom Penh, Townsend emphasised the need for a strategic reorganisation of products and services to align with […]
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Crafting Cambodia’s Real Estate Legacy: A Time to Build & Uphold Reputations
In the dynamic landscape of Cambodia’s real estate, developers are presented with a pivotal moment – a juncture where reputations can be forged or lost for generations to come. The ongoing market fluctuations, characterised by unchanged prices and a substantial 40% drop in secondary sale values, provide a unique opportunity for strategic decision-making, according to […]
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UN Predicts Global Economy Down to 2.4% in 2024, Inflation Rises to Above 10% for Developing Countries
In a pivotal economic report, the United Nations projects a slowdown in global economic growth to 2.4% by 2024, down from the estimated 2.7% in 2023, underscoring challenges surpassing earlier expectations. Both figures remain below the pre-pandemic 3% growth rate prevalent before the 19-year epidemic in 2020, according to VOA on 9 January 2024. The […]
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Economists Project China’s Economic Landscape in 2024 to Fall to 4.6%
As China’s economic trajectory undergoes shifts, economists anticipate a moderated growth of 4.6% in 2024, following an anticipated 5.2% expansion this year. This projection comes against the backdrop of a sluggish real estate market and tepid consumption. With 23 experts expecting this year’s growth to align closely with Beijing’s target of approximately 5%. According to […]
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CBRE’s Head of Research Hints Real Estate Market Recovery Time
Investment caution is rippling through the Asia-Pacific real estate market, from Singapore to South Korea, as investors tread carefully amidst concerns over rising interest rates and geopolitical instability. Market data from JLL, a leading commercial real estate and investment management company, reveals a 22% year-on-year decline in commercial real estate investment activity in the Asia-Pacific […]
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