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ខ្មែរ Economy and Finance
750k SMEs in Cambodia Key Driver of Economic Growth, Contributing 63% to GDP and Employing Over 70% of Workforce
- 26 June 2024
Cambodia has more than 750,000 small and medium-sized enterprises (SMEs) which play a pivotal role in the nation's economy, contributing 63% to the gross domestic product (GDP) and employing more than 70% of the workforce. This significant contribution was highlighted by Samdech Hun Manet, PM of Cambodia, in his message on the occasion of the first National Day of Small and Medium Enterprises, cel...
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Vietnam’s Trade Ministry Requests PM’s Approval on Cambodian Sand Imports to Address 2.3m Cubic Metres Demand
- 25 June 2024
The Vietnamese Ministry of Industry and Trade has proposed to Prime Minister Phạm Minh Chính to import construction sand from Cambodia to address the country's annual demand of 2.3 million cubic metres. This recommendation follows a feasibility study indicating Cambodia's ability to supply sand for Vietnam’s long-term construction needs, as reported by Vietnamnews.vn on 24 June 2024. The feasib...
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World Bank Approves US$275m Loan to Bolster Cambodia’s Economic Growth
- 22 June 2024
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 WB on 21 June 202...
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Cambodia FDI In 2023: Real Estate Soars to Third Place
- 21 June 2024
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 2024. The repor...
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Cambodia & Singapore Launch FTC to Boost Cross-Border Financial Services
- 20 June 2024
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 infrastructure, ...
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Cambodia Introduces Tax Incentives to Integrate Informal Enterprises into Formal Economy
- 19 June 2024
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 voluntaril...
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China Boosts Exports to 7.6% in May Amidst US, Europe Tightening Chinese Import Tariffs
- 17 June 2024
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 June 2024. Imports, on the...
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EU Cracks Down on Unsustainable Supply Chains with Landmark Directive
- 16 June 2024
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 to Europe...
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Dubai Issues Golden Visa: A Luxury House Costs US$24m, Still Cheap for Chinese Buyers
- 12 June 2024
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 of strong interest in Portugal, but Dubai's a...
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East Asian Powers Renew FTA, But Expert Asks ‘Will Xi Jinping Seal the Deal?’
- 11 June 2024
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 Nikkei on 27 May 2024. The revi...
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