Economy and Finance
Cambodia and UK Forge Strategic Alliance to Elevate Bilateral Trade, Aiming for US$1 Billion Milestone by 2022
In a resounding display of mutual commitment, the Ministry of Commerce of Cambodia and the Ministry of Commerce of the United Kingdom have recently inked a momentous Memorandum of Understanding (MoU). This agreement paves the way for the establishment of a joint trade and investment forum, aimed at expanding bilateral trade between the two nations. […]
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Cambodia’s Manufacturing Sector Surges: Over 1,300 Factories Established by 2023, Fueled by Peace and Stability
In a significant testament to Cambodia’s flourishing manufacturing sector, PM Hun Sen revealed that the number of garment, footwear, and travel bags factories has soared from a mere 68 in 1997 to an impressive 1,326 in 2023. During an address to factory workers at the Royal Group Phnom Penh Special Economic Zone on May 26, […]
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Cambodia Unveils New Draft Law on Special Economic Zones to Boost Diversification and Industrial Connectivity
In an exciting development, the Council for the Development of Cambodia (CDC) has recently completed the drafting of a comprehensive law on special economic zones (SEZs), poised to be launched in the near future. This momentous step towards economic diversification and enhanced industrial connectivity was announced by HE Chea Vuthy, Deputy Secretary-General of the CDC’s […]
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Singapore’s Luxury Property Market Flourishes as Chinese Investors Seize Opportunities Amid Tax Surge
Amidst a significant surge in demand, Chinese investors have flocked to Singapore’s luxury condominium market, acquiring a record number of units in nearly a decade, just before the Singaporean government doubled taxes on foreign property purchases. The allure of Singapore’s real estate sector remains strong, with Chinese buyers purchasing 111 luxury condominium units—a remarkable 158 […]
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Cambodia’s Construction Sector Soars with Remarkable 500% Increase in Approved Projects
The construction landscape in Cambodia has experienced a phenomenal surge, as evidenced by an extraordinary 500% rise in approved construction permits during the first two months of 2023. The recently released economic report by the World Bank on May 18 sheds light on this significant development, highlighting the unprecedented growth in construction permits despite a […]
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Angkor Wat Ticket Sales Skyrocket, Surpassing US$14M in the First Four Months of 2023
Angkor Wat, the crown jewel of Cambodia’s cultural heritage, has witnessed a remarkable surge in ticket sales, signalling a reinvigorated interest from global tourists. Cambodia raked in an astounding US$14,031,206 from the sale of tickets to 298,998 foreign visitors in the first four months of the year, according to a report released by the esteemed […]
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Sihanoukville Special Economic Zone: A Thriving Hub Attracting 175 Investors and Creating 30,000 Jobs
In an impressive display of growth and economic vitality, the Sihanoukville Special Economic Zone (SSEZ) has emerged as a coveted destination for international investors. With 175 enterprises from various countries, including China, Europe, the United States, and Southeast Asia, the economic zone has generated nearly 30,000 employment opportunities for local communities, fueling the region’s progress. […]
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PM Proposes Study on Agricultural Wholesale and Retail Markets to Boost Farmers’ Opportunities
In a move to enhance market access for farmers and provide a platform for selling their agricultural produce, Samdech Hun Sen, the Prime Minister of Cambodia, has suggested conducting a comprehensive study on the establishment of wholesale and retail markets for agricultural products across the capitals and provinces. During the graduation ceremony of agricultural graduates […]
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IMF Forecasts Strong Economic Growth in Cambodia’s Key Sectors for H2 2023
The second half of 2023 is set to witness robust economic growth in Cambodia, driven by four key sectors, according to Mr. Davide Furceri, Chairman of the new IMF Mission. During a meeting with HE. Aun Porn Moniroth, Deputy Prime Minister and Minister of Economy and Finance, on 9 May 2023, Mr. Furceri highlighted the […]
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Why Would a 10-Year Golden Visa for Investors Not Popular?
Since its launch last year, Cambodia’s 10-year golden visa, designed to entice foreign investors, has struggled to gain traction. Industry experts attribute this lukewarm response to the existence of easier and more cost-effective visa alternatives available to investors. Introduced on July 22, 2022, the long-term visa program is was created with the aim of attracting […]
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