Economy and Finance
Cambodia’s Tourism Rebounds to Near Pre-Crisis Levels, But Chinese Arrivals Lag Behind Regional Peers
Cambodia’s tourism sector is witnessing a robust rebound in 2024, with international arrivals reaching 4.4 million in the first eight months, a 22.5% surge compared to the same period last year. This strong performance brings the country within 1.6% of its pre-crisis peak of 6.9 million visitors in 2019, highlighting the sector’s steady recovery after […]
Read More
Australia Invests USD 65 Million to Enhance Cambodia’s Economic Growth through CAPED Program
The Australian Government has committed approximately AUD 87 million (USD 65 million) in new grant funding to the Cambodia-Australia Partnership for Sustainable Economic Development (CAPED) program, aiming to bolster Cambodia’s economic resilience and growth. The announcement was made through a press release from the Ministry of Economy and Finance on 17 October 2024. The CAPED […]
Read More
Cambodian Gov’t Reduces 2025 Budget to USD 9.32 Billion Amid Strategic Economic Planning
The Cambodian government has approved a 2025 budget bill totaling approximately 37.95 trillion riels (USD 9.32 billion), marking a reduction from the 38.83 trillion riels (USD 9.54 billion) allocated for 2024. The budget cut came as part of a strategic approach to economic planning. It was endorsed during a cabinet meeting chaired by PM Samdech […]
Read More
CBRE: Cambodian Real Estate Faces Divergent Trends Amid 2024 Economic Growth
Cambodia’s real estate market in the final quarter of 2024 reveals diverse trends, marked by an estimated 5.8% GDP growth rate and 4.3 million international tourist arrivals in the first eight months, yet a decline in construction investment approvals to just USD 2.19 billion, involving fewer than 3,000 projects. The latest report by CBRE Research, […]
Read More
Major Highway Expansion Completed to Boost Thai-Cambodian Trade & Regional Connectivity
The Thai Department of Highways has announced the full completion of the Highway 317 expansion project, upgrading the route from Chanthaburi to Sa Kaeo from two lanes to four lanes. The project, which spans over 16 kilometers and costs approximately USD 26 million, aims to enhance trade and economic growth between Thailand and Cambodia by […]
Read More
PwC Slapped with Record USD 62.2m Fine and Six-Month Ban Over Evergrande Audit Failures
PwC Zhong Tian, the China arm of the global accounting giant, has been fined a record USD 62.2 million and banned from auditing for six months for its failure to identify financial misstatements in China Evergrande Group’s accounts between 2018 and 2020. The penalties, the most severe imposed on an audit firm in China, are […]
Read More
Joint Tourist Port Project Set to Transform SHV’s Transportation & Economic Landscape
HE Deputy PM Say Sam Al, who chairs the Sihanoukville Provincial Government Working Group, is spearheading plans to establish a joint tourist port in Sihanoukville to enhance transportation services and boost the local economy. The announcement was made during a meeting with tourism port business owners on 8 October 2024. The initiative seeks to consolidate […]
Read More
While China Controls Most of the Real Estate Market, Japan Continues to Dominate ASEAN’s Major Economies
Though growing rapidly, Chinese foreign direct investment (FDI) in Southeast Asia focuses more on tertiary industries like finance, construction, and real estate. It is particularly prominent in less-developed economies such as Cambodia, Laos, and Myanmar. According to a recent study by Guanie Lim and Chengwei Xu, China’s FDI in these sectors may complement, rather than […]
Read More
VSIP Reports 146% Surge in H1 Profits Amid Expanding Industrial Park Portfolio
Vietnam-Singapore Industrial Park J.V. Co., Ltd (VSIP), Vietnam’s leading industrial park developer, reported a significant 146% increase in net profit, reaching USD 43.84 million in the first half of this year, driven by robust growth in its industrial park operations. This performance boosted the company’s return on equity (ROE) to 6.61%, up from 3.13% in […]
Read More
Cambodia’s First Regional Nursery Nears 20% Completion, Pioneering Green Initiatives in Tbong Khmum
Cambodia’s first regional nursery, located in Preah Theat commune, Ou Raing Ov district, Tbong Khmum province, has reached 20% completion, marking significant progress in the country’s ambitious reforestation efforts. The update came during an inspection visit by HE Dr Eang Sophalleth, Minister of Environment, on 8 October 2024. Set across more than 3 hectares, this […]
Read More