Economy and Finance
Ministry of Commerce Registers Over 10,000 New Businesses in 2022
10,701 new businesses were registered at the Ministry of Commerce in 2022, up 40% from 2021, according to a report from the ministry released on Monday 30 January. There were 888 companies removed from the business list last year, an increase of 34% compared to 643 companies in 2021, read the report. There were more […]
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First Gov’t Bond Trial of Larger-Scale Public Fund Raising Mechanism
The first set of government bonds is a trial for larger-scale capital-raising mechanisms in the future, said Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth. At a public forum on macroeconomic management on 25 January, HE Vongsey Visoth said the government bonds will help Cambodia become less dependent on foreign debt […]
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MOE: China’s Reopening to Contribute to Cambodia’s Economic Growth
A senior official at the Ministry of Economy and Finance said that China’s opening would contribute to Cambodia’s economic growth through foreign direct investment from China and tourism, while FDI from China in Cambodia represented about 42% of total investment last year. At a public forum held on 25 January, Permanent Secretary of the Ministry […]
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Chinese display maker BOE to invest US$400m to build two factories in Vietnam
Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest up to US$400 million to build two factories in Vietnam. According to Reuters, BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small […]
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CSX Raises Over US$54million in Capital in 2022, 133% Y-o-Y Increase
In 2022, the Cambodia Securities Exchange (CSX) raised a total capital of over 222 billion riels or US$ 54 million, an increase of 133% compared to 2021, according to a press release by CSX on 11 January 2023. Most of this capital came from the issuance of bonds, of which corporate bonds accounted for 63% […]
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Cambodia, S. Korea Vow to Further Strengthen Cooperation as Bilateral Trade Reaches US$5bn
Cambodia and Korea are committed to expanding cooperation in all fields as bilateral trade volume reaches US$5 billion, according to a meeting between the President of the National Assembly of Cambodia Samdech Heng Samrin and the former President of the National Assembly of Korea Park Byeongseug on 12 January. During the meeting, the two leaders […]
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Cambodia’s 2023 GDP Growth Forecast at 6%; Construction at 1.7%
Cambodia’s economic growth in 2023 is forecast at 6% despite high external challenges, according to a recent National Bank of Cambodia (NBC) report. The growth was largely supported by the rise of construction and real estate sectors, which are expected to continue to recover gradually at 1.7% and 1.2%, respectively due to the growing domestic […]
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SME Bank Provides Over US$41m in Loans to 291 Tourism Businesses
As of December 2022, the Small and Medium Enterprise Bank of Cambodia (SME Bank) has provided US$41.52 million in loan to 291 tourism businesses, according to the bank’s announcement on 3 January 2023. The loan is part of the Tourism Restoration and Growth Sector (TRCS) co-financing project with a total budget of about US$150 million. […]
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Gov’t boosts cement plant investment to meet growing demand
Cambodian Prime Minister Samdech Hun Sen stated that there is a high demand for cement in Cambodia, which requires additional investment, while the five cement factories produce about 9 million tons per year. During the groundbreaking ceremony for the reconstruction and upgrading of two roads in Kampot and Kep provinces on 30 December, PM Hun […]
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Royal Railway Launches Second Bond Sale Worth US$20 Million
Royal Railway has issued an additional US$24 million bond to the public, scheduled for listing on 29 December on the Cambodia Securities Exchange, according to a press conference on 22 December. This is the second time that the firm has issued bonds after the first US$10 million was sold. (Read more) According to HE Sou […]
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