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ខ្មែរ Economy and Finance
Vietnam & Cambodia Collaborate to Boost Trade Efficiency and Reduce Shipping Costs
- 30 October 2023
Vietnam's Saigon Newport and Cambodia's Phnom Penh Autonomous Port (PPAP) have joined forces to foster sustainable business development and further invigorate economic and trade growth, cementing the rapport between these two nations. During the official signing ceremony on 28 October 2023, Ms. Her Panin, Deputy Director General overseeing the Phnom Penh Autonomous Port Operations, emphasized t...
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VN’s VinFast Market Expansion: $400 Million Investment in EV Factories in India and Indonesia
- 26 October 2023
Vietnamese electric vehicle (EV) manufacturer VinFast is gearing up for a substantial expansion, with plans to establish manufacturing facilities in India and Indonesia. These ambitious moves are backed by a projected $1.2 billion capital infusion from its founder and other investors. VinFast, a Nasdaq-listed company, envisions entering 50 markets worldwide by the close of 2024, according to Asia...
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BRI Forum Brief: China Shifts from Building Major Infrastructure to Focusing on Digital Connectivity
- 19 October 2023
In an era of evolving global dynamics, China's Belt and Road Initiative (BRI) is poised for a transformative second decade, signaling a shift towards more efficient, market-oriented, and less debt-burdened projects. President Xi Jinping's recent pronouncement on the future of BRI as "small yet smart" is underpinned by valuable lessons learned. This strategic shift comes as a response to past chall...
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Positive Signs Emerge: Serviced Apartment & Landed Property Sectors Rebound Slightly in Q3 2023
- 18 October 2023
In a real estate market that has largely remained stagnant, there are promising signs of recovery in the service apartment and landed property sectors. The latest data, released by CBRE Research on 5 October 2023, indicates a subtle shift in market demand. According to the report, the average quoted rent for Grade A serviced apartments has increased by 1%, while Grade B apartments have seen a m...
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China’s Economy Rebounds: Factory Activity Signals Stabilisation
- 17 October 2023
China's economy is showing signs of stabilisation as factory activity expands for the first time in six months. The Purchasing Managers' Index (PMI), which measures the performance of major manufacturers, rose to 50.2 in September, up from 49.7. This figure is above the critical 50-point threshold, indicating a shift from contraction to expansion. Economists had predicted a reading of 50.0, this w...
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World Bank Confirms Cambodia’s Robust Growth Projections: 5.5% for 2023, 6.1% for 2024
- 10 October 2023
The World Bank has reasserted its growth predictions for Cambodia, maintaining a forecast of 5.5% for 2023 and raising it to 6.1% for 2024, according to the latest East Asia and Pacific Economic Update on 9 October 2023. The report affirms that Cambodia's economic prosperity is propelled by key sectors such as garment exports, tourism, agriculture, construction, and real estate. The tourism ...
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PPAP Reports US$23 Million Earnings for First Eight Months of 2023, Sees 9% Decrease
- 9 October 2023
In the first eight months of 2023, the Phnom Penh Autonomous Port (PPAP) disclosed earnings amounting to US$23,431,210. However, this figure represents a 9% decrease when compared to the corresponding period last year. This financial update was officially released in a press statement by the Phnom Penh Autonomous Port on 13 September 2023. The reported total revenue for the Phnom Penh Autonomou...
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Chinese Company to Recruit 6,000 in Kompong Speu
- 7 October 2023
General Enterprise Garment (Cambodia) Co., Ltd, a prominent Chinese-invested garment and manufacturing company, has unveiled plans to recruit a substantial workforce exceeding 6,000 individuals. This recruitment drive is fuelled by the company's commitment to bolster its second factory's operations in Kompong Speu, following the resounding success of its inaugural facility in Kandal. This ambit...
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Cambodian Banks and Microfinance Inject $57 Billion in Loans into the Economy in H1 2023
- 3 October 2023
During the first half of 2023, Cambodia witnessed a remarkable surge in financial support to the economic sector. Banks and microfinance institutions disbursed an impressive sum of $57.8 billion (equivalent to 238.7 trillion riels), signifying an impressive year-on-year increase of 10.5%. This financial injection has been instrumental in driving various sectors of the economy. These substantial...
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Cambodia-Thailand Trade Reaches US$2.58b in the First Eight Months of 2023
- 2 October 2023
In the initial eight months of 2023, the bilateral trade volume between Cambodia and Thailand amounted to a significant $2.58 billion, as disclosed in a report by the General Department of Customs and Excise. While this figure represents a 19.9% decline compared to the same period last year, it sheds light on the enduring economic collaboration between the two nations. Cambodia's exports to Tha...
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