Economy and Finance
World Bank Approves US$275m Loan to Bolster Cambodia’s Economic Growth
The World Bank has approved a US$275 million loan package to support Cambodia’s long-term economic growth and resilience. The funding, sourced from the International Development Association (IDA), aims to drive reforms to enhance the competitiveness of the private sector and strengthen the country’s finances to assist the most vulnerable populations. This announcement was made by […]
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Cambodia FDI In 2023: Real Estate Soars to Third Place
As of 2023, foreign direct investment (FDI) in Cambodia surged to 197.8 trillion KHR (US$48.4 billion), marking a 7.9% increase over the previous year. This substantial influx of investment was channelled into key sectors such as financial activities, manufacturing, real estate, accommodation, agriculture, energy, and construction, according to a recent report released on 18 May […]
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Cambodia & Singapore Launch FTC to Boost Cross-Border Financial Services
Cambodia and Singapore have launched the Financial Transparency Corridor (FTC) project to facilitate financing for small and medium enterprises (SMEs) in both countries. The initiative, announced by the National Bank of Cambodia on 18 June 2024, aims to enhance bilateral trade and investment activities by streamlining cross-border financial services. The FTC serves as a digital […]
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Cambodia Introduces Tax Incentives to Integrate Informal Enterprises into Formal Economy
The Cambodian government has announced new tax incentives aimed at formalising the informal economy, targeting micro, small, and medium enterprises (MSMEs) in specific sectors. According to Sub-Decree No. 113, dated 21 May 2024, these incentives apply to businesses in wholesale, retail, and repair; accommodation and food services; craft; and agricultural communities, encouraging them to voluntarily […]
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China Boosts Exports to 7.6% in May Amidst US, Europe Tightening Chinese Import Tariffs
China’s exports jumped by 7.6% year-on-year in May, providing a crucial boost to the world’s second-largest economy amid ongoing property market woes and subdued domestic demand. This significant rise, reported by the country’s customs office on Friday, outpaced April’s 1.5% increase and exceeded economists’ expectations of a 6.0% growth, according to Nikkei Asia on 7 […]
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EU Cracks Down on Unsustainable Supply Chains with Landmark Directive
The European Union (EU) has taken a significant step towards promoting ethical and sustainable practices in global supply chains with the adoption of a new directive on corporate due diligence. This legislation, applicable to large companies within the EU, mandates stricter accountability for environmental and human rights issues throughout their operations and supply networks, according […]
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Dubai Issues Golden Visa: A Luxury House Costs US$24m, Still Cheap for Chinese Buyers
Dubai’s Booming Market and Golden Visa Scheme Lure Investors from Mainland China and Hong Kong Fuelled by a thriving real estate market and a fast-track residency program, Dubai is rapidly becoming a top destination for property investors from mainland China and Hong Kong, according to industry experts. This shift in investor focus comes after years […]
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East Asian Powers Renew FTA, But Expert Asks ‘Will Xi Jinping Seal the Deal?’
Japan, South Korea, and China have revived efforts to strengthen commercial ties, seeking progress on stalled free trade agreement (FTA) negotiations during their first joint summit in over four years. The summit, held in Seoul early this week, marks a significant step in bolstering economic cooperation between the three nations. This information was published by […]
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Cambodia Sees Over 30% Increase in Steel Imports in Early 2024
In the first four months of 2024, Cambodia imported iron and steel worth approximately US$168 million, marking a significant 30.6% increase from the US$129 million recorded during the same period in 2023. This data was reported by the General Department of Customs and Excise on 21 May 2024. The increase in imports extends beyond iron […]
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Cambodia’s Trade Volume Hits US$17bn in First Five Months of 2024, Down 10%
In the first five months of 2024, Cambodia’s trade volume reached approximately US$17 billion, marking a 10% decrease compared to the same period in 2023. This decline, reported by HE Sok Sopheak, Secretary of State and spokesperson for the Ministry of Commerce, was attributed to sluggish overseas consumer markets and inflation in buyer countries. The […]
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