Economy and Finance
Cambodia Refines Nearly 1,000kg of Gold Ore in 4 Months
Australian firm Renaissance Limited (Cambodia), which received a license to operate Cambodia’s first commercial-scale gold mining in Mondulkiri province, has refined nearly 1,000kg of gold ore in the first four months. The amount of gold ore was presented by Prime Minister Samdech Hun Sen during the inauguration ceremony of the Ministry of Land Management, Urban […]
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Impacts of Government Bonds on Economy & Real Estate Market
The Cambodian government has recently announced a plan to issue bonds worth over US$300 million next year. Though the government did not disclose the detail on how the bond funding will be used, priority sectors such as infrastructure development will be one of those included in the spending list. (Read more) This plan has raised […]
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China to Expand Property Tax Trail to Check Speculation
The Chinese government has decided to expand the property tax trail, which is a part of reforms in the sector aimed to promote “rational housing consumption”. China’s top legislature, the National People’s Congress Standing Committee, on Saturday approved the latest plan, according to Xinhua. The announcement comes with President Xi Jinping pushing for more “common […]
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Cambodia Gov’t Mulls Issuing Bonds Worth Over US$300 million in 2022
The Cambodian government plans to issue its first sovereign bonds worth US$300 million worth next year to raise more funds for public investment projects to boost economic growth and productivity. The Ministry of Economy and Finance (MEF) unveiled this plan in the executive summary of the Draft Law on Finance for 2022, which was approved […]
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Cambodia Needs 1.6 billion SDR to Develop Six Prioritised Sectors in 2022
The Cambodian government would need a total of 1.6 billion SDR (international reserve assets) to develop six prioritised sectors or equivalent to 35 public investment projects in 2022, according to the new Draft Law on Financial Management. The SDR will be allocated to sectors such as energy (8 projects), irrigation (5 projects), physical infrastructure (7 […]
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China’s Urban Planning Institute Helps Cambodia Develop SHV into a Multi-Purpose SEZ
The Ministry of Economy and Finance (MEF) and the Urban Planning and Design Institute of Shenzhen (UPDIS) have signed a master plan consultancy contract agreement, whereby the institute will provide services in preparing a master plan to transform Sihanoukville into a multi-purpose special economic zone. The agreement was signed on 18 October virtually between MEF […]
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ADB Provides US$40-million Loan to Support SMEs & Financial Stability in Cambodia
The Asian Development Bank (ADB) has decided to provide US$40 million in loans to help stabilise Cambodia’s financial sector, especially for SMEs affected by the COVID-19 pandemic. According to an ADB press release on 18 October, the loan will help small and medium-sized enterprises (SMEs) to recover from the pandemic by insuring them with the […]
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Construction materials import value up by 20% in first 8 months of 2021
During the first eight months of 2021, the import value of all goods to Cambodia (except gold) was recorded at US$14.6 billion, an increase of 26.7% compared to the same period last year, while the construction materials import value also jumped by 23.7% y-o-y. According to a report from the Ministry of Economy and Finance, […]
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NagaWorld Reopens for COVID-19 Vaccinated Guests
NagaWorld Casino has reopened to COVID-19 vaccinated guests. The reopening comes after the giant casino in central Phnom Penh temporarily closed in April due to the February 20 Community Incident. NagaCorp said its subsidiary NagaWorld reopened on 15 September with permission from Cambodia’s Ministry of Health. With the service resuming, NagaWorld has set up a […]
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World Bank, IMF forecast Cambodia’s 2021economic growth at 2.2%, approx. 4-5% for 2022
The World Bank (WB) and the International Monetary Fund (IMF) have recently lowered Cambodia’s economic growth forecast in 2021 to only 2.2% but predicted that the rate will rebound to 4.5 to 5% in 2022. According to a World Bank report, the 2.2% is the drop from a 4% forecast in April 2021 due to […]
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