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ខ្មែរ Economy and Finance
Asian Countries Do business with China, Lose More Than Profit, but Still Cannot Leave China
- 19 May 2024
In a significant turn of events, the United States has surpassed China as the premier export destination for South Korea and Taiwan, marking a pivotal shift in Asia's trade landscape. This development, observed in December, underscores a broader trend where Asian economies are exporting less to China as a percentage of their total exports, while simultaneously importing more from the economic gian...
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MinebeaMitsumi to Invest Over US$320m in Expanding Operations in Cambodia & Thailand
- 14 May 2024
Japanese electronics supplier MinebeaMitsumi has announced plans to invest 50 billion yen (US$321 million) to build a new factory in Cambodia and expand a solar power plant in Thailand. This report was published by NIKKEI ASIA on 10 May 2024. MinebeaMitsumi will allocate 32 billion yen (over US$205 million) to construct a new factory in Cambodia, scheduled to commence operations early next year...
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Cambodia’s Trade Surges: Exports & Trade Volume Reach Record Highs
- 11 May 2024
Cambodia has witnessed a remarkable surge in its trade volume and exports during the first four months of 2024, with trade volume exceeding US$16 billion, marking an impressive growth of nearly 12%. This growth trend was paralleled by a corresponding rise in exports, also reaching nearly 12%. The Minister of Commerce, Lok Chumteav Chamnimol, unveiled these promising statistics during the inaugu...
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Angkor Ticket Sales Propel Cambodia’s Tourism Revenue to New Heights With US$19.9m Revenue in 4 Months
- 6 May 2024
Ticket sales for Angkor Wat have generated an impressive revenue of US$19,917,533 in the first four months of 2024. This substantial income surge, marking a 41.95% increase compared to the same period in 2023, underscores the enduring allure of Angkor Wat as a premier tourist destination. The report, released by the Angkor Institute on 1 May 2024, reveals a remarkable uptick in revenue generati...
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SHV’s Poverty Rate Drops to 1.68% Amidst Robust Economic Growth in 2023
- 3 May 2024
Amidst a surge in economic prosperity, Sihanouk Province witnessed a notable decrease in its poverty rate, plummeting to 1.68% in 2023. This remarkable achievement stems from the province's robust economic growth, which soared to 6.4% during the same period. These encouraging figures were unveiled by HE Long Dimanche, Deputy Governor of Preah Sihanouk Provincial Board of Governors, during a sem...
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SHV Port Marks Remarkable Growth with 240K TEUs of Containers, a 23% Increase in Container Traffic in Q1 2024
- 2 May 2024
In the first quarter of 2024, the Sihanoukville Autonomous Port witnessed a significant surge in its operational capacity, handling 240,000 Twenty-Foot Equivalent Units (TEUs) of containers. This marks an impressive increase of more than 23% compared to the corresponding period in 2023. The announcement was made by HE Peng Po Nea, Minister of Public Works and Transport, during a meeting on the occ...
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PPAP Marks Robust Growth with 7% Revenue Increase, More Than US$8m, in Q1 2024
- 30 April 2024
The Phnom Penh Autonomous Port (PPAP) has reported a significant revenue increase of 7% in the first quarter of 2024, totalling US$8,064,657, as compared to the corresponding period in 2023. This financial uplift, detailed in a press release dated 12 April 2024, the port's growing economic influence in the region. A breakdown of the earnings reveals a 12% increase in port operations revenue, am...
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Tous Les Jours Bakery Returns to Phnom Penh Amid Cambodia’s Economic Surge
- 29 April 2024
In a strategic move driven by Cambodia's robust economic growth and burgeoning market potential, the renowned bakery chain Tous Les Jours has announced its comeback to Phnom Penh after a year-long hiatus. Reported by Maeil Business News Korea on 29 April, a franchise agreement has been inked between CJ Foodville and global restaurant franchise EFG, paving the way for the establishment of five T...
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Cambodia-China Bilateral Trade Surges to US$10bn, 4.6% Up, in First 10 Months of 2023
- 25 April 2024
Cambodia's trade with China flourished in the first 10 months of 2023, with bilateral trade volume reaching an impressive US$10 billion, marking a notable 4.6% increase compared to the previous year. This announcement was made by National Assembly President Samdech Khuon Sodary during a productive working meeting with HE Zhang Qingli, Vice Chairman of the 13th National Committee of the Chinese Pol...
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Cambodia’s Furniture Market Set to Surge from US$100m to Over US$1bn by 2033
- 22 April 2024
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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