Economy and Finance
Cambodia Seeks Vietnam’s facilitation in Power Line Connection from Laos to Singapore
PM Hun Sen of Cambodia urged PM Pham Minh Chinh of the Socialist Republic of Vietnam to collaborate in facilitating the connection of power lines from Laos for electricity transmission to Singapore. The request was made during a bilateral meeting at the 42nd ASEAN Summit held in Labuan Bajo, Republic of Indonesia, on 9th May […]
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Cambodia and Vietnam Forge Closer Tourism Ties with Feasibility Study to Connect Phu Quoc and Key Cambodian Destinations
In a landmark development for regional tourism, Cambodia and Vietnam have embarked on a joint feasibility study to establish connectivity between the idyllic island of Phu Quoc (or Koh Tral) and two prominent tourist destinations in Cambodia. This significant agreement was formalized through the signing of a Memorandum of Understanding between the Ministry of Tourism […]
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Cambodia and Japan Plan to Establish More Private Business Centers as Trade Volume Exceeds US$2.4 Billion
The bilateral trade volume between Cambodia and Japan is set to surpass US$2.4 billion in 2022, prompting discussions to establish more Cambodian private business centers by 2023. This was announced during the opening ceremony of the “Cambodia Expo 2023” event held in Tokyo on May 3, 2023. According to HE Chhuon Dara, Minister Delegate to […]
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Single Portal for Business Registration Attracts Nearly US$2 Billion in Construction and Real Estate Investments
The govt’s efforts to streamline business registration processes and improve the country’s investment climate have paid off. The Online Business Registration platform, a single portal for registering new businesses, has received a total of 24,466 applications as of April this year, with a combined investment value of US$7.42 billion. The construction sector accounted for the […]
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Svay Rieng Province’s Strategic Border Checkpoints and Customs Revenue Surges to US$400m in 2022
Svay Rieng province’s strategic location on the Cambodian-Vietnamese border has facilitated the opening of eight border gates, including two international and two bilateral gates, as well as four regional gates. This was highlighted by HE Men Vibol, Governor of Svay Rieng Province, during a press conference on April 27, 2023, where he presented the province’s […]
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Singapore Doubles Property Tax for Foreign Buyers in Effort to Cool Market
In a move to address concerns over the affordability of housing for locals and maintain its position as a competitive financial hub, Singapore has raised taxes on property purchases. The Ministry of Finance, National Development Ministry, and Monetary Authority of Singapore have jointly announced that stamp duties for foreign buyers will increase from 30% to […]
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Cambodia’s Construction and Real Estate Sector to Benefit from Stronger Partnership between CCA and CVEA
The Cambodia Constructors Association (CCA) and the Cambodia Association of Appraisers and Realtors (CVEA) have pledged to work together to enhance Cambodia’s construction and real estate sector. In a meeting held on 25 April 2023, Mr. Sorn Seap, President of CVEA, and Oknha Charles Van, representing Neak Oknha Pung Kheav Se, President of CCA, expressed […]
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Japan Approves Ambitious $13.5 Billion Casino Project, A Game-Changer for Country’s Tourism Industry
The Japanese government has given the green light to the country’s first-ever legal casino project, set to transform the nation’s tourism industry. The initial investment cost for the ambitious project is estimated to be 1.8tn yen (approximately US$13.5 billion) and is expected to be completed in 2029. According to The Guardian, the MGM Resorts International […]
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Cambodia’s Air Travel Rebounds with Over 870k Passengers and over 6.6k Flights in Q1 2023
Cambodia’s air travel has shown a remarkable growth of 872,049 passengers and 6,699 flights in the first quarter of 2023, according to HE Sin Chanseryvutha, Secretary of State for Civil Aviation. This is a positive sign for Cambodia’s aviation industry, which was severely impacted by the Covid-19 pandemic. March 2023 saw a significant increase in […]
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Cambodia Emerges as 14th among the Fastest Growing Economies
Cambodia has been ranked 14th among the fastest-growing economies in the world with a growth percentage change of 5.8%, according to a recent report published on Finance.yahoo website on 15 April 2023. “The country’s GDP has increased significantly from $26.96 billion in 2021 to $75 billion in purchasing power parity terms by the end of […]
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