Economy and Finance
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, […]
Read More
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 […]
Read More
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 […]
Read More
ADB Sets Aside US$1.4bn Loan & US$31.8m Grant Aid for Cambodia in Next 4 Years
The Asia Development of Cambodia (ADB) have prepared over US$1.49 billion in concessional loans and US$31.8 million in grant aids for Cambodia in the next four years from 2021 to 2024. According to the ADB’s press release last week, both concessional loans and grant aids aim to support Cambodia’s economic development and recovery from the […]
Read More
ADB Lowers 2021 Cambodia Growth Forecast to 1.9%, Jumping Back to 5.5% in 2022
The Asian Development Bank (ADB) has lowered the 2021 Cambodia economic growth forecast from 4% to 1.9% but expects to see a 5.5% to the growth rate in 2022. According to the Asian Development Outlook Update (ADOU) 2021 report, the main factors causing the lower growth rate are the prolonged pandemic, closures and temporary shutdowns […]
Read More
Cambodia Spends Approx. US$8 billion on Physical Infrastructure Development from 1993 to 2021
The Cambodian government has spent approximately US$8 billion on physical infrastructure development in the last 28 years, according to a Ministry of Economy and Finance report issued in August. From 1993 to 30 June 2021, the government disbursed US$10.05 billion from development partners. 81% of which were for financing public investment in the infrastructure sector […]
Read More
Phnom Penh Autonomous Port Earns US$19 million Income in First Eight Months of 2021
The Phnom Penh Autonomous Port has earned audited revenue of US$19 million during the first eight months this year, a year-on-year increase of 11%. Report from the Phnom Penh Autonomous Port issued on Monday 13 September indicated that of the total revenue, port operation attributed for US$15.3 million, the port authority US$2.4 million, other services […]
Read More
Cambodia Asks WB for Larger-Scale Financial Assistance in Infrastructure Development
The Minister of Economy and Finance (MEF) has requested the World Bank to consider providing larger-scale financial assistance, known as advanced concessional loans, for Cambodia, in particular for nationwide infrastructure investment projects. The remark was made by MEF Minister HE Aun Pornmoniroth in the virtual farewell meeting with the outgoing Vice President for East Asia […]
Read More
No New Loan Agreements Signed in H1 2021 as Most Development Projects Delayed
In the first half of 2021, the Cambodian government has not signed any new concessional loan agreements as new development projects are under study and preparation phase and are delayed due to the Covid-19 pandemic. According to a report from the Ministry of Economy and Finance, accumulatively, from 1993 to June 30, the government has […]
Read More
CDC Approves Over 210 Japanese Investment Projects Worth Approx. US$3bn as of July 2021
As of July 2021, the Council for the Development of Cambodia (CDC) has approved Japanese companies to invest in a total of 211 projects in Cambodia worth over US$3 billion, most of which are investment projects in non-textile manufacturing sector. This is according to the 22nd meeting of the Cambodia-Japan Joint Committee on Monday 30 […]
Read More