Economy and Finance
MPWT Earns Over US$200 million in Last 6 Years
After the introduction of the public service technology system in 2017, the Ministry of Public Works and Transport (MPWT) has thus far earned a total of US$208 million from this service, according to MPWT Minister HE Sun Chanthol on 27 October. “Before using the automation system in 2017, the yearly public service revenue was only […]
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PPAP Earns Over US$30m in Revenue in First 9 Months of 2022, a 21% Increase Y-o-Y
During the first nine months of 2022, the Phnom Penh Autonomous Port earned over US$30 million in revenue before auditing, an increase of 21% compared to the same period in 2021. According to the press release on 7 October, the total revenue came from port operation revenue of US25 million revenue, from the port authority […]
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Cambodia-Vietnam to connect new tourist destinations by sea
Cambodia and Vietnam have approved an action plan to link tourist destinations by sea and build joint cruise packages as part of the South Sea Tourism Corridor Cooperation, especially the new sea route, Kampot Tourism Port and Tourism Port. Bai Vong.This is according to the third bilateral meeting on tourism cooperation between Cambodia and Vietnam […]
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Toyota Urges Cambodia to Reduce Tariffs on Imported Hybrid Cars
Toyota has urged the Cambodian government to reduce tariffs on imported hybrid vehicles to help Cambodia achieve its carbon neutrality target by 2050, according to a meeting between the Minister of Public Works and Transport HE Sun Chanthol and the representative of Toyota on 11 October. Mr Ryoji Fujita, CEO of Toyota (Cambodia), said his […]
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Chip Mong Bank Opens New Branch at Chip Mong Mega Mall 271
The new Chip Mong Bank’s 271 Mega Mall branch was officially inaugurated on the morning of October 5, 2022, at the Chip Mong 271 Mega Mall. The inauguration of this new branch is part of our efforts to bring Chip Mong Bank’s services and products closer to its customers at all times with the highest […]
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Chinese Gov’t Asks Top Banks to Provide Over US$84 billion to Rescue Real Estate Sector
China’s financial regulators have asked its six largest banks to provide 600 billion yuan (US$84.32 billion) of financial support in any form including mortgages, loans to developers, and purchases of their bonds, to help recover the real estate sector. Bloomberg News reported on 30 September that this is the latest scheme after a series of […]
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WB Projects Cambodia’s GDP Growth at 4.8% in 2022, 5.2% in 2023
Cambodia’s GDP growth is projected to reach 4.8% in 2022. Traditional export-oriented growth drivers—especially the garment, footwear, travel goods, and bicycle manufacturing industries as well as agriculture—continue to underpin the economic recovery, according to the World Bank’s forecast. In 2023, economic growth is expected to improve to 5.2%, supported by recovering domestic consumption as employment […]
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ADB Lowers 2023 Cambodia’s Economic Growth Forecast from 6.5% to 6.2%
The Asian Development Bank (ADB) has lowered Cambodia’s 2023 economic growth forecast from 6.5% to 6.2% given the slowdown in global growth, according to a recent publication issued on 22 September. Previously, ADB predicted that the Cambodian economy will grow by 6.5% in 2023 and 5.3% in 2022. The factors contributing to the growth are […]
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Evergrande Pledges to Resume All Paused Property Project
China Evergrande has vowed to restart construction of all frozen property projects by the end of September, prompting a response to the nationwide mortgage boycott, reported the Financial Times. 38 projects will be resumed by the end of September while 62 others will be restarted to “normal level”, according to a company statement released on […]
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Investor Sentiment Leaning Towards Asia Pacific in 2022, Say Experts
Investors around the world are becoming more cautious in investing in real estate as well as other sectors, as uncertainty in the macroeconomic environment is ongoing, say, experts, emphasizing that the Asia Pacific market has gained more popularity lately compared to other regions. Despite the more cautious approach, the market in the Asia Pacific will […]
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