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ខ្មែរ Economy and Finance
Cambodia’s Exports Surpass US$4.5bn in First Seven Months of 2023
- 26 August 2023
Cambodia's exports to fellow ASEAN Member States (RCEP) have surged impressively, crossing the remarkable threshold of US$4.59 billion during the initial seven months of 2023. This remarkable upswing, reflecting a robust 21% increase from the analogous period in 2022, was eloquently underscored by HE Pan Sorasak, Minister of Commerce. He shared this pivotal insight during the August inauguration c...
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VinFast Shares Hit US$85.5 billion, Surpassing Mercedes, Honda, Ford & Tesla
- 24 August 2023
In a resounding debut on the prestigious NASDAQ stock exchange, VinFast Auto Pte Ltd. (VinFast) orchestrated a dazzling display of market prowess, propelling its market capitalization to an astounding US$85.5 billion. This remarkable achievement on the very first trading day, marks a staggering ascent from its initial valuation of US$23 billion, underscoring the profound investor confidence in the...
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Zombification of China Property Crisis: A Case Study of Evergrande’s Bankruptcy
- 22 August 2023
Amidst the labyrinthine landscape of China's property market, a distressing trend is emerging, encapsulated by the term 'zombification'. This phenomenon, characterized by stalled construction projects due to insurmountable financial constraints, is casting a pall over the industry. A closer examination reveals the intricate web of challenges facing property developers, with the predicament ripplin...
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GDT Achieves Strong Revenue Collection of US$2.3B in First Seven Months of 2023
- 21 August 2023
The General Department of Taxation (GDT) has marked an impressive milestone in revenue collection for the first seven months of 2023. With approximately US$2,312.95 million collected through the innovative online revenue data management system, the GDT has achieved 64.76% of the Law on Financial Management for 2023. This accomplishment, however, reflects a 21.12% decrease compared to the correspon...
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IAEA Grants Cambodia Cutting-Edge Nuclear Technology for National Heritage Restoration
- 15 August 2023
The Department of Archaeology and Prehistory within the Ministry of Culture and Fine Arts has received a powerful new tool - the Leica ScanStation P40/P30 3D Laser Scanner. This advanced equipment was generously granted by the International Atomic Energy Agency (IAEA) as part of the TC Project: KAM1002 on the Protection and Preservation of Cultural Property. The significant handover took place ...
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Powering Progress: Industry Sector Set to Drive 39% of Cambodia’s GDP Growth in 2023
- 4 August 2023
Cambodia's industrial prowess continues to surge, poised to shape the nation's economic landscape with a forecast of contributing 39% to the Gross Domestic Product (GDP) in 2023, a notable increment from the 38% registered in the preceding year. The industry sector's ascending trajectory was underscored by HE Heng Sokkung, the Secretary of State and spokesperson for the Ministry of Industry, Sc...
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Mortgage Loans Surpass US$6.6 Billion Milestone by June 2023
- 3 August 2023
Cambodia's real estate landscape is experiencing an impressive resurgence as mortgage loans from banks surged beyond the US$6.6 billion mark by June 2023, marking a substantial growth of 17.5% when compared to the corresponding period in the previous year. A recent report released by the National Bank of Cambodia on Monday 31 July unveiled the robust performance of the mortgage market, with mor...
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Cambodia Achieves Successful Bond Issuance of US$27 Million in H1-2023, Equal to 13.5% of Plan
- 3 August 2023
The Cambodian government has successfully issued bonds worth a total of US$27 million in the first half of 2023. This remarkable achievement signifies a substantial step towards the realisation of the planned US$200 million issuance, according to the release of the Ministry of Information on 31 July 2023. The Ministry of Information's release on 31 July 2023 underscored the significance of this...
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NagaWorld Records Impressive Q2-2023 US$ 83M Profit, Surge of 57%
- 25 July 2023
Hong Kong-based NagaCorp proudly reports NagaWorld's soaring success in Cambodia, as the net profit for the second quarter of 2023 surged by an impressive 57.4%, reaching a remarkable US$83 million. The significant increase in profit can be attributed to the resurgence of tourism in Cambodia from ASEAN countries and the gradual return of business travelers from China, significantly bolstering Naga...
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Mid-2023 Update: Cambodia’s Retail Sector Saw A Slight Decline, But New Strategy Emerged
- 19 July 2023
Amidst a changing retail landscape, the first half of 2023 showcased a slowdown in new retail completions, following a wave of launches and developments in 2022. As of mid-year, over 39,000 sqm of new retail space was added, representing a 6% increase in total supply over the span of 6 months. However, the retail sector is poised for further expansion, with approximately 83,000 sqm of upcoming pro...
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