Economy and Finance
Banteay Meanchey Received Almost US$1.5M Daily from Customs Revenues
Banteay Meanchey province has earned almost US$1.5 million in customs revenue daily, making it one of the most successful provinces in Cambodia in this regard. This was announced by HE Um Reatrey, Governor of Banteay Meanchey province, during a press conference held on 28 March 2023. “Based on the data of the customs branch reported, […]
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Gov’t to Upgrade An Ses to Be New International Checkpoint
The government of Cambodia and Thailand have agreed to upgrade the An Ses border, a vital trade border in the Choam Ksan District of Preah Vihear province, to be an international checkpoint in the near future. This was announced by Preah Vihear governor, HE Kim Rithy, during a press conference on the province’s achievements over […]
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China-Cambodia Flights Set to Expand to 300 Flights Weekly, Attracting Millions of Chinese Tourists
Cambodian Prime Minister Hun Sen announced on 22 March that Cambodia is set to welcome between 3 to 5 million Chinese tourists annually, following the expansion of China-Cambodia direct flights to 300 flights per week. Prior to the pandemic, Cambodia received over 2 million Chinese tourists annually. During a recent visit to China, Prime Minister […]
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Royal Group and Keppel Energy sign deal to export 1k Mw renewable energy to Singapore via submarine power line
Cambodia’s Royal Group Power Company Ltd (RGP) and Singapore’s Keppel Energy Pte Ltd (KE) have signed a power purchase agreement for the export of renewable energy generated through a submarine power line from Cambodia to Singapore. The deal allows Cambodia to export 1000 Mw of renewable energy to Singapore via submarine high-voltage transmission, and the […]
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Cambodia and UAE to Sign Comprehensive Economic Partnership Agreement
Cambodia and the United Arab Emirates (UAE) have finalized the negotiations for the Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement (CAM-UAE CEPA), which will be signed later this year. The agreement aims to diversify export markets and promote Cambodia’s economic integration into the region and the world. Minister of Commerce H.E. Pan Sorasak and H.E. […]
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CGCC to Lend Over US$100m to More Than 10K businesses by February 2023
The Credit Guarantee Corporation of Cambodia (CGCC) announced on 10 March 2023 that it had provided credit guarantees to 1,155 companies with a loan amount of around US$104.9m by the end of February 2023. This marks an increase of US$15.9m from the previous year’s loan amount of US$89m. Of the 1,155 businesses, 81 were large […]
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New Economic Pole to Help Strengthen Cambodia-Thailand Border Trade Partners
Cambodia has revealed its plans to create a fourth economic pole along the Cambodian-Thai border, aiming to boost economic growth and trade in the agricultural sector. The announcement was made by the Minister of Agriculture, Forestry and Fisheries, HE Minister Dit Tina, during a meeting with HE Cherdkiat Atthakor, Ambassador Extraordinary and Plenipotentiary of the […]
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Russians Overtake Chinese to Become Biggest Phuket Condo Buyers as Russia-Ukraine War Continues
Amidst the ongoing conflict between Russia and Ukraine, Russian investors have become the leading purchasers of condominiums in Phuket, Thailand, overtaking Chinese buyers from the top spot. “Last year, Russians became the leading purchasers of condominiums on the island, dislodging Chinese buyers from the top spot. According to Thailand’s Real Estate Information Centre, 40% of […]
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Phnom Penh Records Over US$320m Tax Revenue in 2022, Property Tax Contributes Over US$26m
The total tax revenue in Phnom Penh exceeded expectations, reaching over 1,298 trillion Riels, equivalent to more than US$320 million, or 115.46% of the plan, according to the 2022 annual report on the performance of the Phnom Penh Capital Administration. The report also revealed that property tax contributed significantly to the total revenue, with 108.83 […]
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PM Hun Sen: Cambodia Aims to Be the World’s Largest Cashew Nuts Exporter
Cambodian Prime Minister Hun Sen has expressed his support for the domestic cashew production industry to drive Cambodia to become the world’s largest producer of cashew nuts. During his speech at the 7th River Festival in Kampong Thom province, PM Hun Sen emphasised the potential of Cambodia’s cashew products, stating that they are of good […]
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