Economy and Finance
Zombification of China Property Crisis: A Case Study of Evergrande’s Bankruptcy
Amidst the labyrinthine landscape of China’s property market, a distressing trend is emerging, encapsulated by the term ‘zombification’. This phenomenon, characterized by stalled construction projects due to insurmountable financial constraints, is casting a pall over the industry. A closer examination reveals the intricate web of challenges facing property developers, with the predicament rippling out to […]
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GDT Achieves Strong Revenue Collection of US$2.3B in First Seven Months of 2023
The General Department of Taxation (GDT) has marked an impressive milestone in revenue collection for the first seven months of 2023. With approximately US$2,312.95 million collected through the innovative online revenue data management system, the GDT has achieved 64.76% of the Law on Financial Management for 2023. This accomplishment, however, reflects a 21.12% decrease compared […]
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IAEA Grants Cambodia Cutting-Edge Nuclear Technology for National Heritage Restoration
The Department of Archaeology and Prehistory within the Ministry of Culture and Fine Arts has received a powerful new tool – the Leica ScanStation P40/P30 3D Laser Scanner. This advanced equipment was generously granted by the International Atomic Energy Agency (IAEA) as part of the TC Project: KAM1002 on the Protection and Preservation of Cultural […]
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Powering Progress: Industry Sector Set to Drive 39% of Cambodia’s GDP Growth in 2023
Cambodia’s industrial prowess continues to surge, poised to shape the nation’s economic landscape with a forecast of contributing 39% to the Gross Domestic Product (GDP) in 2023, a notable increment from the 38% registered in the preceding year. The industry sector’s ascending trajectory was underscored by HE Heng Sokkung, the Secretary of State and spokesperson […]
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Mortgage Loans Surpass US$6.6 Billion Milestone by June 2023
Cambodia’s real estate landscape is experiencing an impressive resurgence as mortgage loans from banks surged beyond the US$6.6 billion mark by June 2023, marking a substantial growth of 17.5% when compared to the corresponding period in the previous year. A recent report released by the National Bank of Cambodia on Monday 31 July unveiled the […]
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Cambodia Achieves Successful Bond Issuance of US$27 Million in H1-2023, Equal to 13.5% of Plan
The Cambodian government has successfully issued bonds worth a total of US$27 million in the first half of 2023. This remarkable achievement signifies a substantial step towards the realisation of the planned US$200 million issuance, according to the release of the Ministry of Information on 31 July 2023. The Ministry of Information’s release on 31 […]
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NagaWorld Records Impressive Q2-2023 US$ 83M Profit, Surge of 57%
Hong Kong-based NagaCorp proudly reports NagaWorld’s soaring success in Cambodia, as the net profit for the second quarter of 2023 surged by an impressive 57.4%, reaching a remarkable US$83 million. The significant increase in profit can be attributed to the resurgence of tourism in Cambodia from ASEAN countries and the gradual return of business travelers […]
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Mid-2023 Update: Cambodia’s Retail Sector Saw A Slight Decline, But New Strategy Emerged
Amidst a changing retail landscape, the first half of 2023 showcased a slowdown in new retail completions, following a wave of launches and developments in 2022. As of mid-year, over 39,000 sqm of new retail space was added, representing a 6% increase in total supply over the span of 6 months. However, the retail sector […]
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General Department of Taxation Achieves Remarkable Revenue Collection of US$2 Billion in H1 2023
Cambodia’s tax revenue collection for the first half of 2023 has reached an impressive US$2,072 million. Despite a year-on-year decrease of 19 percent, this achievement reflects the department’s commitment to meeting financial targets and supporting the nation’s development, according to the latest report from the General Department of Taxation. The report highlights that the six-month […]
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Cambodia’s Iron and Steel Imports Surge to $192 Million in H1 2023, Jump 3.4 %
Cambodia’s imports of iron and steel reached an impressive $192 million in the first half of 2023, marking a significant 3.4% increase compared to the same period last year. These two essential commodities have secured their place among the top 20 imported goods, as stated in the General Department of Customs and Excise report released […]
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