Economy and Finance
PM calls for loan restructuring for private educational institutions
Prime Minister Hun Sen has called for bank institutions to prepare loan restructuring to help release the burden on private educational institutions during the post-COVID-19 period. The PM made the call in his speech on the “Cash Transfer Program for Poor and Vulnerable Households during COVID-19” on 24 June 2020. “The National Bank of Cambodia […]
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PM Hun Sen: house demands still on course amid COVID-19
Cambodian people are still reportedly able to afford for buying houses at housing construction projects amid the COVID-19 pandemic. However, Cambodia’s economic growth this year projected to growth at the negative growth rate. In a visit to inspect construction process of new Phnom Penh international airport on June 22, Samdech Techo Hun Sen, Prime Minister […]
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South Korea discloses USD$12 billion for investing overseas before FTA Talks with Cambodia next month
South Korean finance minister, Hong Nam-ki, has revealed plans to provide USD$12 billion to support large-scale overseas projects before joining in a free trade agreement (FTA) talks with Cambodia in July, according to Business Korea on 15 June 2020. “The two nations completed a joint feasibility study on a potential FTA in May and wrapped […]
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Government allocates US$100 million for rural infrastructure development
The Royal Government of Cambodia has allocated 451 billion riels (approximately US$109 million) for building physical infrastructure in rural areas and promoting agriculture, and in particular providing jobs due to the COVID-19 pandemic crisis. According to a press release from the Ministry of Economy and Finance, the ‘Labour Cash Program Phase II’ fund will be […]
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Challenges ahead for the real estate slowdown
As the number of foreign workers and travellers in Cambodia decreased since the government announced a ban on the Chinese-run online gambling operations last August, there has been a change in demand and a resultant impact on the residential property sector in Cambodia. Previously, Chinese investments drove the spike in rentals in Sihanoukville, buoyed by […]
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World Bank committed to helping Cambodian economy recover from COVID-19 crisis
“The global shock triggered by the COVID-19 pandemic has significantly impacted Cambodia’s economy, …The World Bank is committed to helping Cambodia deal effectively with the COVID-19 crisis and strengthen the economy for recovery and future resilience.”Inguna Dobraja, World Bank Country Manager The above statement was included in a report released by the World Bank on […]
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When COVID-19 ends, foreign investors will return, but with thin pockets
We know that the COVID-19 has had a significant impact on safety and the global economy as a whole, but having a clear understanding of how it affects and how much it is has affected industry is difficult to predict. What we’ve all heard for the time being is that after the virus has hit […]
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GMAC issues appeal letter requesting landlords to reduce rental fees by 30%
The Garment Manufacturers Association in Cambodia (GMAC) issued a formal letter on 08 May 2020 appealing to landlords who lease premises for all garment, footwear, and travel bag industries in Cambodia to reduce their rental fees by at least 30% for 3-6 months given the severe impact of COVID-19 on the sector. In its appeal […]
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Land Ministry to draw up a budget of about US$100 million for LASED III
The Ministry of Land Management Urban Planning and Construction (MLMUPC) is preparing to propose another project on the Land Allocation for Social and Economic Development Phase III to improve living standards of people through allocating land for agriculture and building houses. The proposed project will utilize a budget of US$100 million, according to Mr Rithy […]
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AIIB announces US$5 billion COVID-19 recovery fund
The Asian Infrastructure Investment Bank (AIIB) announced plans in April to launch a US$5bn crisis recovery fund to support a quick turnaround after the coronavirus pandemic. The US$5bn fund is intended to meet emerging demand among its low-income members, whose economies could be hit the worst by the Coronavirus. Cash would be made available for […]
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