Economy and Finance
Gov’t Approves Further US$100-million Financial Support Scheme for SME Sector
The Ministry of Economy and Finance (MEF) has approved a financial support scheme for the SME sector Phase II with a budget of US$100 million after the first phase was successfully implemented, according to a press release on Monday 16 August. The project aims to provide low-interest loans to SMEs in prioritised sectors such as […]
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SHV Autonomous Port Posts 455% Net Income Increase in H1 2021
Sihanoukville Autonomous Port posted an H1 net profit increase of 455% y-o-y as it considers building additional infrastructure to meet the demand of service and economic growth. The port stated in its Second Quarterly Report issued on 12 August that the January-June net profit was 14,075 billion riels (approximately US$12.48 million), a year-on-year increase of […]
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IMF to Provide Non-Repayable US$240 million Pandemic Recovery Fund to Cambodia
The International Monetary Fund (IMF) has approved a non-repayable US$240 million fund for Cambodia to cope with the impact of COVID-19 and restore its economy, according to a press release from Oxfam. The Board of Governors of the IMF has approved a general allocation of the largest Special Drawing Rights (SDRs) in history equivalent to […]
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Government Dismisses Report of Lower Se San II Project Impacts
The Cambodian government has dismissed the Human Rights Watch’s report on the impacts of the Se San II dam, citing that dam development brings prosperity to people’s living, generates jobs, and generates electricity. The remarks were made after the Human Rights Watch issued the 137-page report noting the social, economic, environmental, and wildlife impacts, and […]
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Cambodia Imports 600 Tons of Steel from Vietnam in First Five Months of 2021
Vietnam exported 584 tons of steel to Cambodia during the first five months of 2021, a year-on-year decrease of 1.5%, reported VN Express news. Meanwhile, the total export of steel for this country was at 4.1 million tons during this period, or equivalent to the value of US$3.61 billion, a year-on-year increase of 117% Among […]
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Mortgage Applications Drop by 32% in Q2; Value Shrinks 17%
The number of mortgage loan applications in the second quarter of 2021 dropped by 32% while the total loan value also decreased by 17%, compared to the first quarter of the same year, according to a recent report by the Credit Bureau Cambodia (CBC). The same reported added that as of June 2021, the number […]
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Is the Overheating Property Market Bad for the Economy?
An economist from the Royal Academy of Cambodia HE Ky Sereyvath has expressed concern that overheating growth in the real estate sector no longer benefits the local economy and will eventually push housing prices beyond the purchasing power of the local population. HE Ky Sereyvath made the statement during an interview with RFI earlier this […]
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Cambodia Lowers Growth Forecast to 2.5% for 2021; Property Sector Remains Uncertain
Cambodian Prime Minister Samdech Hun Sen has lowered the kingdom’s forecasted economic growth from 4% to only 2.5% this year, due to the severe impact of the COVID-19 pandemic. Samdech Hun Sen explained that this growth will be mainly supported by the agricultural sector as the export of agricultural products has increased more than expected. […]
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PM: Expenses on COVID-19 Now Equal to Constructing 10 Mekong River Bridges
The Cambodian government has revealed that expenditures in the fight against the COVID-19 pandemic have reached millions of dollars or equivalent to the cost of construction of 10 Mekong River bridges. Prime Minister Samdech Hun Sen said on Sunday that what Cambodia has spent so far is already over the cost of the construction of […]
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PM: Cambodia Extracts 137kg of Gold on Average per Month
Prime Minister Samdech Hun Sen said on Sunday that Cambodia can extract on average approximately 137kg of gold per month. The announcement comes after an Australian company launched a commercial gold mine operation in Mondulkiri province in June. Speaking at the opening ceremony of the vaccination campaign for teenagers aged 12 to 17 years, PM […]
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