Economy and Finance
US$6 Million Bran Oil Refinery Ready for Sale in Battambang
A $6 million investment in a medium-sized bran oil refinery in Battambang province is set to go on sale after the Khmer New Year, according to RFI on 17 April 2023. The Cambodian jasmine rice refinery can refine more than 10 tons of cooking oil using about 50 to 100 tons of crude bran. Chhem […]
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Siam Makro Plc to Invest Over US$800 Million in Retail and Wholesale Business Expansion
Siam Makro Plc, the operator of Makro cash & carry stores and Lotus hypermarkets, has announced plans to invest 25.3-27.5 billion baht (over US$800 million) this year to expand its retail and wholesale businesses. According to Saowaluck Thithapant, Group Chief Executive of Siam Makro, ” This move is in anticipation of a positive impact on […]
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Cambodia’s Iron and Steel Imports Jump 11% to US$93 Million in Q1 2023
Cambodia’s imports of iron and steel amounted to US$93 million in the first quarter of 2023, up 11% from the same period last year. The two products were included in the list of top 20 commodities imported in March 2023, according to the General Department of Customs and Excise, The import of iron and steel […]
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Trust Sector in Cambodia on Track to Reach US$1 Billion Capital Registration by End of 2023
The Trust Regulator (TR) in Cambodia has announced a positive outlook for the country’s trust sector, with a projected capital registration of more than US$1 billion by the end of 2023. As of March 2023, the total capital registered by the TR had already reached US$940 million, with 512 trusts registered. According to TR Director-General […]
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Rattanakiri Province Attracts 27 Private Companies for ELC Investment, 85% Vietnamese based
Rattanakiri province, with its favourable geographical and climatic conditions, has attracted a total of 27 private investment companies in the past five years to invest in economic land concessions (ELC), covering over 110,000 hectares. Over 85% of these companies are Vietnamese-based, according to Rattanakiri Provincial Governor HE Nhem Samoeun. Director of the Provincial Department of […]
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Cambodia, Laos jointly studies two priority locations to open a new border crossing
Cambodia and Laos have announced plans to open a new border crossing that will connect Phu Vong district in Attapeu province of Laos to Vern Sai district of Ratanakkiri province in Cambodia. The two countries are currently studying two possible locations for the crossing, according to HE Nhem Sam Oeun, Governor of Ratanakkiri Province 4 […]
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NagaWorld Continues to Thrive, Reporting a Revenue of US$117 Million in Q1 2023
NagaWorld, Cambodia’s leading gaming company, reported a revenue of over US$117 million in the first quarter of 2023, a significant increase of 6.8% from last year. This impressive financial result is the highest quarterly profit since 2020, when the Covid-19 pandemic began. According to a quarterly report by NagaCorp, the Hong Kong-based parent company of […]
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ADB projects Cambodia’s economy at robust growth in 2023 and next year
The Asian Development Bank (ADB) has forecast Cambodia’s economy at a robust growth of 5.5% in 2023 and 6.0% in 2024 on a more robust tourism recovery and higher growth in the services sector. According to an Asian Development Outlook April 2023 report released today issued on April 4, the tourism sector is expected to […]
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WB: Cambodia Ranks Third in Southeast Asia’s Fastest Growing Economies in 2023
The World Bank (WB) has maintained its 2023 economic growth rate forecast for Cambodia at 5.2 per cent from its projection in October 2022. This places Cambodia as the third-fastest-growing economy in the region, after Vietnam (6.3%) and the Philippines (5.6%), according to the World Bank’s updated economic forecast for the Southeast Asia region. The report […]
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How Cambodian Migrants’ US$2.7B Contribute to Real Estate Investment and Economic Growth
More than 1.3 million Cambodians living and working overseas contribute to their home country’s economic growth by remitting approximately US$2.7 billion annually to their families. The remittances, which are often invested in the real estate sector and saved for future business opportunities, support the well-being of working families. According to a report from the Ministry […]
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