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Cambodia’s Furniture Market Set to Surge from US$100m to Over US$1bn by 2033
The Cambodian furniture market, though relatively small, is primed for substantial expansion in the coming years, with exports projected to soar to US$1.484 billion by 2033, as outlined in "The Cambodia Furniture Industry Research Report 2024-2033" published by finance.yahoo on 17 April 2024. Despite a slight downturn in 2023, Cambodia's furniture manufacturing sector has exhibited remarkable g...
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Revised Vietnam Land Law Allowing Property Rights for Overseas Vietnamese to Boost Real Estate Market
The recently revised Land Law, which extends land use rights to overseas Vietnamese (OVs) and Vietnamese citizens living abroad, is anticipated to provide a significant impetus to the country's real estate sector, according to Vietnamplus on 11 April 2024. Lieu Nguyen, the global ambassador for Vietnam, Cambodia, and Indonesia at the US National Association of Realtors, expressed optimism about...
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Cambodia Forges Ahead with International Standard Community Nurseries for Workers
Cambodia is accelerating its initiatives to establish community nurseries built to international standards. In a concerted effort to elevate working conditions and support the welfare of labourers, the Ministry of Labor and Vocational Training (MLVT) convened a pivotal meeting on 18 April 2024, in collaboration with the World Child and Development Organisation and the World Bank, under the steward...
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Cambodia Forges Ahead with Double Taxation Agreement Negotiations to Spur Foreign Investment
Cambodia is making significant strides in its efforts to attract foreign investment by intensifying negotiations on double taxation agreements (DTA) with seven additional countries. Revealed in the latest bulletin from the General Department of Taxation, published on April 18, 2024, this proactive approach underscores Cambodia's commitment to fostering a conducive environment for international inv...
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Unveiling the Allure of Borey Peng Huoth’s Star Mega Garden: A Prime Choice for Homebuyers
Borey Peng Huoth, renowned for its exceptional residential and commercial developments across Phnom Penh, presents The Star Mega Garden, a project brimming with promise and unparalleled potential. Here are five compelling reasons why investing in The Star Mega Garden is a prudent choice: Prime Location Offering Connectivity and Convenience: Nestled along the burgeoning Second Ring Road,...
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Bridge Construction Across Bassac River Surpasses Milestone Ahead of Schedule
The ambitious project to construct a bridge spanning the Bassac River, linking Chak Angre Krom to Prek Pra, has surpassed expectations by achieving a remarkable 7.5% progress in just two months, surpassing the planned timeline by 0.6%. This significant milestone, achieved ahead of schedule, underscores the swift and efficient progress of the construction efforts since its commencement on 19 Feb...
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Australia’s 30-Year Commitment: Catalysing Cambodia’s Development Across Key Sectors with US$1bn in Aid
For three decades, the Australian Government has been instrumental in Cambodia's development journey, extending over US$1 billion in official development assistance to bolster pivotal sectors within the nation. This landmark contribution underscores Australia's unwavering commitment to Cambodia's progress, as highlighted in a press release by the Ministry of Foreign Affairs and International Coope...
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Cobber Packing Company Commits Over US$3 Million to Establish Cardboard Factory in SHV
The Preah Sihanouk Provincial Sub-Committee on Investment (ECCC) has greenlit an ambitious venture by Cooper Packing (Cambodia) Co., Ltd., investing upwards of US$3 million to erect a state-of-the-art cardboard factory in Sihanoukville. The decision came to light during a meeting presided over by Mr. Kouch Chamroeun, Governor of Preah Sihanouk Province, on 17 April 2024. With a registered capit...
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Cambodia Achieves Open Defecation-Free Status in 6 Provinces, 7 More Expected by Year End
Cambodia is making significant strides in achieving open defecation-free (ODF) status across its provinces. Presently, six provinces have successfully attained ODF status, with plans to announce seven more by the year's end. The progress was revealed during a pivotal meeting chaired by HE Chhay Rithi Sen, Minister of Rural Development, on 18 April 2024. Discussions centred on Cambodia's rural w...
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NR No. 48 Rehabilitation Project Progresses to 52%
The rehabilitation project of National Road No. 48 (Sre Ambel - Koh Kong) has reached a significant milestone, with construction progress standing at 52.12%. This update was confirmed by HE So Vector, Project Manager and Secretary of State of the Ministry of Public Works and Transport, on April 18, 2024. HE So Vector highlighted the smooth progress of the project, emphasising that efforts are f...
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Construction Material Imports Surge nearly US$350m in Q1 2024, Reflecting Cambodia’s Booming Construction Sector
In the first quarter of 2024, Cambodia witnessed a remarkable surge in its construction sector, as imports of construction materials soared to an impressive US$349 million, marking a significant increase of 22.24% compared to the same period last year. This data, derived from the General Department of Customs and Excise, illuminates the thriving growth and vibrant activity within the construction ...
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Cambodia Welcomes 21.8m Tourists During Four-Day Khmer New Year Celebration
Throughout the four-day Khmer New Year celebration, from 13 – 16 April, Cambodia played host to an impressive influx of tourists, both domestic and international, totalling 21.8 million visitors. This significant turnout reflects the nation's enduring appeal as a cultural and tourist destination, with particular hotspots emerging in provinces such as Kampong Cham, Prey Veng, and Kampong Speu. T...
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