Economy and Finance
Cambodia’s Robust Trade Performance: Exceeding US$8bn in Two Months, Marking Nearly 20% Growth
In the initial two months of 2024, Cambodia’s international trade volume surged to over US$8 billion, registering a notable increase of nearly 20% compared to the corresponding period in 2023, as per the provisional report from the General Department of Customs and Excise of Cambodia. The report reveals that from January to February, Cambodia’s exports […]
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Angkor Ticket Sales Surge, Raking in Over US$11m, 52% Increase, in First Two Months of 2024
In a remarkable achievement, Cambodia has witnessed a substantial increase in revenue from Angkor ticket sales during the initial two months of 2024, totalling an impressive US$11,234,675. The report, released by the Angkor Institute on 1 March 2024, reveals a remarkable surge of 52.09% compared to the corresponding period in 2023. During February 2024 alone, […]
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Australian Conglomerate FreshStart Eyes Major Investments Across Cambodia’s Key Sectors
Aegros and FreshStart Logistics, a subsidiary of FreshStart, have unveiled plans to significantly expand their investments in Cambodia, targeting three pivotal sectors: logistics, energy, and healthcare. This strategic move was disclosed during a meeting between Mr. Daniel Phillips, President of FreshStart Company, and Prime Minister Hun Manet at the ASEAN-Australia Special Summit in Melbourne on […]
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Australia Commits US$262 Million to Boost ASEAN Maritime and Development Initiatives
In a significant move to strengthen development and security in Southeast Asia, Australia has announced an infusion of an additional US$262.5 million into its programs in the region. This financial commitment was unveiled by Foreign Minister Penny Wong at the outset of the ASEAN-Australia Special Summit held in Melbourne on Monday, 4 March 2024, according […]
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Cambodia’s Notable Factory Boom, 241 New, Amid Nearly 100 Closures in 2023
A considerable swell in Cambodia’s industrial landscape has been seen through 2023—a year marked by both substantial growth and notable challenges. According to the latest findings from the Ministry of Industry, Science, Technology, and Innovation (MISTI), the kingdom celebrated the launch of 241 new factories. Yet, it grappled with the closure of 98 industrial units, […]
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Vietnam Initiates Trade Boost with Reduced Tariffs on Select Cambodian Goods
In a bid to fortify economic ties, Vietnam has introduced preferential import tariffs for specific Cambodian goods, aiming to catalyze trade between the two neighboring nations. The recent issuance of Decree 5/2024/ND-CP by the Vietnamese Government outlines conditions under which lower import tariffs will be applicable for Cambodian imports. The move is expected to stimulate […]
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Vietnam’s Central Bank Affirms No Interest Rate Hike in 2024
In a pivotal announcement, the State Bank of Vietnam (SBV) declared its stance on interest rates for the year 2024, affirming a commitment to maintain current policy rates. SBV Deputy Governor Dao Minh Tu addressed the Vietnam Plus during a press conference on 3 January, outlining the central bank’s strategic approach to economic support. Deputy […]
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Hong Kong Economists Predict Global Economic Inflation to Remain Stagnant at 10% in 2024
As the world steps into 2024, the global economy finds itself at a crossroads, grappling with a delicate balance of risks that could shape the trajectory of the year. Schroders, in their insightful analysis on 1 February 2024, sheds light on a nuanced economic landscape, hinting at potential challenges and opportunities. Schroders underscores a notable […]
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Asia House Forecasts: Vietnam to Outshine its Asian regional Counterparts Throughout 2024
In the realm of thriving Asian economies, Vietnam emerges as a standout performer, poised to outshine its regional counterparts throughout 2024, according to the Asia House Annual Outlook released on 23 January in London. The report anticipates approximately 5% overall growth across eight key Asian economies, with Vietnam and the Philippines leading the charge. Focused […]
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Cambodia’s Labour Landscape Thrives: Nearly 50k Registered Businesses Employ Over 1.7m Workers
The Ministry of Labour and Vocational Training boasts registration numbers of 49,075 factories and businesses, collectively employing more than 1.7 million individuals. This impressive statistic was revealed during a meeting at Sokha Hotel in Phnom Penh on 8 February by Prime Minister Samdech Hun Manet. Prime Minister Hun Manet emphasised that the registered factories and […]
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