Economy and Finance
Nine-Month Leadership Boosts Cambodia’s Economy to 6%, Tops ASEAN
Under the nine-month leadership of the Cambodian government’s seventh mandate, the Cambodian economy is projected to grow by approximately 6% in 2024, making it the fastest-growing economy in ASEAN and the third in Asia post-COVID-19. This announcement was made by Pen Bona, Minister Delegate to the Prime Minister and a government spokesman, during a recent […]
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Beijing Invests US$42bn to Revive Struggling Real Estate Sector, but Analysts Warn Insufficient
In a bold move to stabilise the struggling property market, the People’s Bank of China (PBOC) is establishing a nationwide program offering a staggering 300 billion yuan (US$41.5 billion) in loans, as reported by CNN, 17 May 2024. Industry experts estimate this initial injection could ultimately translate into 500 billion yuan (US$69 billion) worth of […]
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AMRO Forecasts Cambodia’s Economy to Grow 5.6% in 2024 and 5.9% by 2025
The ASEAN + 3 Macroeconomic Research Office (AMRO) recently released a positive outlook for Cambodia’s economy, predicting a growth rate of 5.6% in 2024 and 5.9% in 2025. This upward trend signifies a significant improvement compared to the 5% growth recorded in 2023, according to AMRO press release on 23 May 2024. Garment Sector & […]
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Japan’s Exports Surge in Value 8.3%, Led by Autos and Chips, Despite Volume Decline 3.2%
Japan’s export value surged by 8.3% to reach 8.9 trillion yen (US$57 billion) in late April, marking the fifth straight month of growth, according to official data released by the Japanese Ministry of Finance on Wednesday. However, export volume saw a decline of 3.2% compared to the previous year, as reported by NikkeiAsia on 11 […]
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Cambodia Prepares Strategic Budget Plan 2025 to Weather Global Economic Headwinds
The Cambodian government is taking proactive measures to safeguard its economic stability in the face of a challenging global economic climate. On 13 May 2024, Circular No. 06. US was issued, outlining the development of a strategic budget plan for 2025-2027, alongside a draft law on financial management specifically for 2025. This initiative underscores the […]
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Asian Countries Do business with China, Lose More Than Profit, but Still Cannot Leave China
In a significant turn of events, the United States has surpassed China as the premier export destination for South Korea and Taiwan, marking a pivotal shift in Asia’s trade landscape. This development, observed in December, underscores a broader trend where Asian economies are exporting less to China as a percentage of their total exports, while […]
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MinebeaMitsumi to Invest Over US$320m in Expanding Operations in Cambodia & Thailand
Japanese electronics supplier MinebeaMitsumi has announced plans to invest 50 billion yen (US$321 million) to build a new factory in Cambodia and expand a solar power plant in Thailand. This report was published by NIKKEI ASIA on 10 May 2024. MinebeaMitsumi will allocate 32 billion yen (over US$205 million) to construct a new factory in […]
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Cambodia’s Trade Surges: Exports & Trade Volume Reach Record Highs
Cambodia has witnessed a remarkable surge in its trade volume and exports during the first four months of 2024, with trade volume exceeding US$16 billion, marking an impressive growth of nearly 12%. This growth trend was paralleled by a corresponding rise in exports, also reaching nearly 12%. The Minister of Commerce, Lok Chumteav Chamnimol, unveiled […]
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Angkor Ticket Sales Propel Cambodia’s Tourism Revenue to New Heights With US$19.9m Revenue in 4 Months
Ticket sales for Angkor Wat have generated an impressive revenue of US$19,917,533 in the first four months of 2024. This substantial income surge, marking a 41.95% increase compared to the same period in 2023, underscores the enduring allure of Angkor Wat as a premier tourist destination. The report, released by the Angkor Institute on 1 […]
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SHV’s Poverty Rate Drops to 1.68% Amidst Robust Economic Growth in 2023
Amidst a surge in economic prosperity, Sihanouk Province witnessed a notable decrease in its poverty rate, plummeting to 1.68% in 2023. This remarkable achievement stems from the province’s robust economic growth, which soared to 6.4% during the same period. These encouraging figures were unveiled by HE Long Dimanche, Deputy Governor of Preah Sihanouk Provincial Board […]
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