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ខ្មែរ Economy and Finance
Analysts Doubt Efficacy of China’s US$43.5 Billion Housing Initiative
- 14 July 2024
China's latest US$43.5 Billion housing initiative targets the country's vacant property crisis, but analysts argue it’s insufficient to resolve the ongoing issues that have plagued the sector for nearly three years. The initiative, announced last Friday, aims to fund bank loans for state companies to purchase unsold housing stock, but concerns remain about the measure's limited scale and potential...
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SME Bank Lends US$500m to 3,400 Enterprises in 2023
- 12 July 2024
In 2023, the Small and Medium Enterprise Bank of Cambodia (SME Bank) disbursed loans totalling US$500 million to 3,400 small and medium enterprises, according to a report by the Ministry of Information on 4 July 2024. The SME Bank's report highlighted that the lending was facilitated through two mechanisms: direct financing projects and co-financing projects in collaboration with participating ...
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Gov’t Reveals Three Ambitious Visions to Transform Sihanoukville into ASEAN’s Leading Trade Hub
- 11 July 2024
The development plan for Sihanoukville aims to transform the city into a multi-purpose special economic zone through a two-phase strategy, targeting three major goals. This announcement was made in a press release from the Ministry of Economy and Finance on 9 July 2024. The first phase (2025-2028) will focus on integrating Sihanoukville into the regional trade system, expanding logistics and to...
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Cambodia’s Exports Surge by 12.6% to US$12.29bn in First Half of 2024
- 11 July 2024
In the first six months of 2024, Cambodia exported goods worth US$12.29 billion, reflecting a 12.6% increase compared to the same period in 2023. The General Department of Customs and Excise released this report on 10 July 2024. From January to June, Cambodia's imports also saw a rise, increasing by 12.8% to US$13.7 billion. This brought the country's total trade volume to US$26 billion, a year...
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Cambodia Sees a 54.2% Surge in Iron and Steel Imports, Reaching Nearly US$300m in First Half of 2024
- 11 July 2024
Cambodia imported iron and steel worth approximately US$296 million in the first semester of 2024, marking a significant 54.2% increase compared to the US$192 million recorded in the same period last year. This data was reported by the General Department of Customs and Excise on 10 July 2024. In June alone, the imports of iron and steel amounted to US$59 million, representing a year-on-year ...
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Toyota CEO to Launch Motor Vehicle Training Academy in Cambodia
- 10 July 2024
Toyota Tsusho Manufacturing (Cambodia) is set to establish a Toyota Academy in Cambodia, aimed at providing specialized motor vehicle training. The company's director, Mr. Fujita Ryoji, announced this initiative during a meeting with PM Hun Manet on 2 May 2024. In response, PM Hun Manet instructed the company to collaborate closely with the Ministry of Labor and Vocational Training to finalise ...
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Cambodia’s 44 SEZs Drive Almost 200k Job Creation & Economic Growth
- 9 July 2024
Cambodia currently boasts 44 special economic zones (SEZs), generating nearly 200,000 employment opportunities. This was highlighted by HE Chea Vuthy, Secretary General of the Cambodian Investment Committee of the Council for the Development of Cambodia (CDC), during a meeting on 2 July 2024 with a delegation from Greenleaf Sci. & Tech Group Co., Ltd., led by Xi Jiancheng. HE Chea Vuthy emp...
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Unfavourable Business Conditions Force Thailand’s Third-Largest Sugar Firm to Withdraw from Cambodia
- 6 July 2024
Thailand's third-largest sugar producer, Khon Kaen Sugar Industry Plc (KSL), has announced its decision to withdraw its investment from Cambodia due to unfavourable market conditions and the underutilisation of trade schemes such as the Generalised System of Preferences (GSP) in Cambodia. The company cited these challenges despite a recent rise in global sugar prices following supply disruptions c...
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Cambodia Earns Nearly US$25m from Angkor, Koh Ker & Boat Ride Ticket Sales in H1-2024
- 2 July 2024
In the first half of 2024, Cambodia generated a substantial revenue of US$24,952,996 from ticket sales for Angkor, Koh Ker, and boating activities, reflecting a significant boost in tourism. This information was revealed in a report released by the Angkor Institute on 1 July 2024. According to the report, 521,950 foreign tourists purchased tickets to Angkor in the first six months of 2024, brin...
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Historic 2,000km Overland Convoy from China to Cambodia Marks Successful Inauguration of GMS Transit Facilitation
- 2 July 2024
A convoy of seven Chinese trucks and passenger vehicles has successfully completed a historic journey of over 2,000 kilometres from China to Cambodia, marking the first implementation of the Greater Mekong Subregion (GMS) Transit Facilitation Agreement. The Ministry of Public Works and Transport announced the successful arrival of the convoy in Phnom Penh and the welcoming ceremony held in its hon...
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