Economy and Finance
Real estate transactions in Cambodia remain strong
Real estate transactions in Cambodia remaining strong is best reflected by the sharp rise in property tax, according to industry expert Sorn Seap. The General Department of Taxation (GDT) has recently collected US$1,952 million in tax revenue, of which the tax on stamp duty increased by 60.18% compared to the same period last year. (Read […]
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Shift in Chinese manufacturing drives Vietnam industrial rent rises
The US-China trade dispute is fuelling an exodus of Chinese manufacturing to SE Asian nations with Vietnam directly benefiting. According to a new report from real estate analysts JLL Vietnam, strong demand for industrial space saw rental price rises in Q2 2019 by up to 15.8% year-on-year with average occupancy in South Vietnam’s Southern Key […]
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Sihanouk International Airport to be able handle 10 million passengers
Cambodia Airports will upgrade the capacity of Sihanouk Airport to be able to handle 10 million passengers per year through their master plan on expanding overall terminal building capacity. The master plan for terminal expansion was approved by the State Secretariat of Civil Aviation on Thursday in a meeting between H.E. Mao Havannall, Minister in […]
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Collection of stamp duty on property transfers increases by 60%
The General Department of Taxation has collected almost US$2 billion in tax revenue over an eight-month period with stamp duty on property transfers seeing the sharpest increase. According to a GDT press release dated 12 September, the department collected US$1,952 million, achieving about 85.33% of the national plan. This shows an increase of about 29.89% […]
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Cambodia inks deal with Laos on the 2900-megawatt power purchase
The Cambodian government has inked a deal with the Laos government to purchase a total of 2,900 megawatts of power to fulfil the current shortage of electricity as well as to reduce the cost of electricity in the future. Signed by Cambodian Prime Minister Hun Sen and Laos Prime Minister Thongloun Sisoulith, the agreement includes […]
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Cambodia, Thailand agree to resume OCA talks
After nearly two decades of hiatus, Cambodia and Thailand have agreed to resume talks on development of their overlapping claims area (OCA) on offshore oil fields, on the principle that it should be developed based on mutual interests. The agreement to resume talks was made in a meeting between the Cambodian Ministry of Mines and […]
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Cambodia economy gets boosted with US$2.7 billion airport investment
Along with steady economic growth, Cambodia needs billions of dollars in investment to improve its aviation sector to help facilitate trade as well as accommodate the 15 million air passengers expected to enter the country by 2030. While improving the aviation sector is part of the government’s plan to push the country to become an […]
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IMF Research: Increase property tax to advance economic growth in Cambodia
A new research paper funded by the International Monetary Fund (IMF) suggests Cambodia should increase property tax to fund billions of dollars of infrastructure spending, a move that will help advance economic growth. Published on 06 September, the ‘IMF Working Paper: Advancing Inclusive Growth in Cambodia’ analyses how increasing either property tax, VAT, or income […]
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Government boosting establishment of more SEZs along border areas
The Council for the Development of Cambodia (CDC) is studying and seeking greater understanding on investment and trade to compile a mechanism to boost the establishment of more special economic zones (SEZ) along border areas, while drafts of a new law on investment and a new law on special economic zones has been completed. CDC […]
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US$100 million budget approved for infrastructure in Sihanoukville
On 04 September 2019, the Cambodian government approved a US$100 million budget for the construction and rehabilitation of infrastructures in Sihanoukville. The budget was approved after some significant physical infrastructures such as roads and natural waterways were damaged amid rising construction, increasing residents, garbage, and heavy rainfalls. In a 2-page press release, the Ministry of […]
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