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 program […]
Cambodian Gov’t Reduces 2025 Budget to USD 9.32 Billion Amid Strategic Economic Planning
The Cambodian government has approved a 2025 budget bill totalling 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 comes as part of a strategic approach to economic planning and was endorsed during a cabinet meeting chaired by PM Samdech […]
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 $2.19 billion, involving fewer than 3,000 projects. The latest report by CBRE Research, based […]
Major Highway Expansion Completed to Boost Thai-Cambodian Trade and 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 kilometres and cost approximately $26 million, aims to enhance trade and economic growth between Thailand and Cambodia by strengthening […]
PwC Slapped with Record US$62.2 Million 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 US$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 part […]
Joint Tourist Port Project Set to Transform SHV’s Transportation and 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, aimed at enhancing transportation services and boosting the local economy. The announcement was made during a meeting with tourism port business owners on October 8, 2024. The initiative seeks to […]