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ខ្មែរ Economy and Finance
Chinese Developer Shimao Faces Liquidation Order Over US$200m Loan
- 16 April 2024
Chinese property developer Shimao Group is facing a liquidation petition filed by China Construction Bank (Asia) over a financial obligation of HK$1.6 billion (US$204 million), according to the company’s statement released on Monday and updated by Business Times on 8 April 2024. In a filing to the Hong Kong stock exchange, Shimao Group announced its intention to "vigorously" oppose the lawsuit ...
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World Bank Forecasts 4.6% Growth for Developing Asia in 2024, Despite China Declines from 5.2% to 4.4%
- 14 April 2024
The World Bank has projected a growth rate of 4.6% for developing Asia-Pacific countries, excluding China, in 2024, as outlined in their recent economic report released and updated by Asia.nikkei on 1 April 2024. Despite China's economy moderating to 4.5% from last year's 5.2%, trade recovery is expected to drive growth in the region, surpassing the 4.4% achieved in 2023. Developing Asia encomp...
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2024 – Cambodia succeeds in its campaign to reduce the use of plastic because the volume of imports decreased by 75%
- 11 April 2024
By the first quarter of 2024, the volume of plastic imports into Cambodia has decreased by about 75%, while this decrease shows that the implementation of the campaign to reduce the use of plastic in the past has been successful. This is according to the announcement of the Ministry of Environment on April 10, 2024. According to the Ministry of Environment, in the first quarter of 2024, the dem...
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Cambodia’s 2024 Economic Outlook: Seasia Stats Projects 6.1%, Gov’t Forecasts 6.6%, WB Predicts 5.8%
- 9 April 2024
Cambodia's economy is set to achieve robust growth in 2024, with a forecasted expansion of 6.1%, marking the highest figure among ASEAN nations and placing it as the third-highest in Asia. This projection, updated by the Indonesian statistics institute Seasia Stats and reported by RFI on 7 April 2024, underscores Cambodia's remarkable economic resilience and potential for substantial development. ...
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China’s Real Estate Evolution: Lessons for Asia’s Economic Balance
- 7 April 2024
China's real estate sector has undergone a profound transformation, transitioning from a state-dominated model to a market-oriented approach, mirroring broader shifts in the Asia Pacific region. A detailed analysis of the changing real estate market impact on the Asian market by Kaize Zhu, a researcher at NUS University in Singapore and published by eastasiaforum on 22 March 2024, is as follows: ...
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Gov’t Initiates Multi-Purpose Economic Corridors in Four Coastal Provinces
- 4 April 2024
The Cambodian government is taking significant steps to establish multi-purpose economic corridors in four coastal provinces, namely Kampot, Koh Kong, Sihanoukville, and Kep. This initiative aims to enhance economic growth and development in the region, as announced by the official Facebook page of Preah Sihanouk Provincial Administration on 3 April 2024. A crucial meeting of the inter-minister...
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Royal Group Launches Ambitious New 120-Hectare Special Economic Zone in Kandal Province
- 1 April 2024
In a significant development, Royal Group, under the stewardship of Okhna Kith Meng, is embarking on the construction of a sprawling 120-hectare special economic zone (SEZ) in Kandal province. The SEZ, poised to connect with the Phnom Penh Special Economic Zone via a bridge spanning the Prek Tnaot River, marks a strategic move for economic expansion. The announcement was made through the official ...
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Battambang Province Flourishes with Over 700 Enterprises, Generating 150,000 Jobs
- 29 March 2024
Battambang province boasts a thriving economic landscape, with more than 700 enterprises and 17 factories contributing to the employment of nearly 150,000 individuals as of the first quarter of 2024, according to official data reported by AKP Battambang on 29 March 2024, the province's economic vitality is underscored by its diverse industrial sectors, including agricultural processing, manufactur...
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Cambodia’s Exports to Korea Skyrocket, Surging 2048% in 2023
- 28 March 2024
In a remarkable surge, Cambodia's exports to the Republic of Korea soared to US$26.21 million in 2023, marking a staggering increase of 2048% compared to the previous year's US$1.22 million. This substantial growth underscores the robust trade relationship between the two nations, facilitated by the CKFTA agreement. The data, disclosed by the spokesperson of the Cambodian government during a hi...
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Singapore Emerges as Top Cross-Border Investor in Asia Pacific Real Estate in 2023
- 26 March 2024
Singaporean investors took the lead as the most prolific cross-border investors in the Asia Pacific region in 2023, surpassing their American counterparts. Their investment amounted to approximately US$8.3 billion ($11.1 billion), exceeding the US$7.3 billion invested by US investors during the same period, as reported by MSCI Real Assets on 27 February 2024. Notably, Singaporean investors main...
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