Economy and Finance
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
Hong Lai Huat To Sell Two Subsidiaries in Cambodia at US$37.5 Million & Exit from Agricultural Ventures
Singaporean property developer Hong Lai Huat has announced plans to divest two underperforming subsidiaries in Cambodia, marking its departure from the agricultural sector. The proposed disposal, with a total consideration of US$37.5 million, underscores the company’s strategic shift away from an agricultural business that has faced profitability challenges since its establishment in 2008, according to […]
Read More
CGCC Empowers Cambodian SMEs with US$164m in Loans Over Three Years
The Credit Guarantee Corporation of Cambodia (CGCC) has played a pivotal role in fostering the growth of small and medium enterprises (SMEs) by approving a total credit guarantee of approximately US$164.72 million as of 31 December 2023. This update was revealed during its annual meeting held on 31 January 2024. This three-year initiative has provided […]
Read More
Cambodia’s Construction & Real Estate Sectors Exhibit Slower Growth in 2023, Navigating Economic Dynamics
The landscape of Cambodia’s economic sectors, particularly construction and real estate, witnessed a tempered growth trajectory in 2023, as outlined in the National Bank of Cambodia’s report released on 29 January. In 2023, the construction sector experienced a growth rate of 1.1%, a measured pace compared to the 2022 figure of 0.5%, indicating a cautious […]
Read More
Hong Kong Court Orders Liquidation of China Evergrande Amidst Ongoing Financial Turmoil
In a significant development, the Hong Kong Supreme Court issued a verdict mandating the liquidation of China Evergrande, the embattled real estate giant, on 29 January. This decision follows a prolonged period of financial distress, spanning over a year, during which the company struggled to meet its debt obligations. Despite granting more than 18 months […]
Read More
World Bank Outlines Key Reforms to Elevate Cambodia to Upper-Middle-Income Status, Government Affirms Implementation Progress
Proclaiming the government’s dedication, Prime Minister Hun Manet has said, “The government steadfastly adheres to its commitment in realizing the aspiration of becoming an upper-middle-income country by 2030 and ultimately achieving a high-income country by 2050.” His unwavering commitment was underscored during a poignant address at the Cambodia Development Resource Institute conference in November. As […]
Read More
Sihanoukville SEZ Soars: Records Exports & Imports Worth US$ 3.6bn in 2023
In a remarkable economic feat, the Sihanoukville Special Economic Zone (SEZ) achieved a momentous milestone in 2023, reporting a substantial trade volume of approximately US$ 3.662 billion in exports and imports combined. The SEZ report unveiled on 29 January 2024, underscores its pivotal role, constituting a notable 7.18% share of the nation’s total trade volume, […]
Read More