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ខ្មែរ Economy and Finance
Cambodia’s Air Travel Rebounds with Over 870k Passengers and over 6.6k Flights in Q1 2023
- 21 April 2023
Cambodia's air travel has shown a remarkable growth of 872,049 passengers and 6,699 flights in the first quarter of 2023, according to HE Sin Chanseryvutha, Secretary of State for Civil Aviation. This is a positive sign for Cambodia's aviation industry, which was severely impacted by the Covid-19 pandemic. March 2023 saw a significant increase in the number of inbound and outbound flights, with...
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Cambodia Emerges as 14th among the Fastest Growing Economies
- 20 April 2023
Cambodia has been ranked 14th among the fastest-growing economies in the world with a growth percentage change of 5.8%, according to a recent report published on Finance.yahoo website on 15 April 2023. “The country's GDP has increased significantly from $26.96 billion in 2021 to $75 billion in purchasing power parity terms by the end of 2022,” the website reported. The report suggests that C...
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US$6 Million Bran Oil Refinery Ready for Sale in Battambang
- 18 April 2023
A $6 million investment in a medium-sized bran oil refinery in Battambang province is set to go on sale after the Khmer New Year, according to RFI on 17 April 2023. The Cambodian jasmine rice refinery can refine more than 10 tons of cooking oil using about 50 to 100 tons of crude bran. Chhem Chandara, President of Medium Enterprise of Cambodia Rice Olive Company Limited, said that the bran oil ...
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Siam Makro Plc to Invest Over US$800 Million in Retail and Wholesale Business Expansion
- 16 April 2023
Siam Makro Plc, the operator of Makro cash & carry stores and Lotus hypermarkets, has announced plans to invest 25.3-27.5 billion baht (over US$800 million) this year to expand its retail and wholesale businesses. According to Saowaluck Thithapant, Group Chief Executive of Siam Makro, " This move is in anticipation of a positive impact on the wholesale and retail businesses, as well as hote...
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Cambodia’s Iron and Steel Imports Jump 11% to US$93 Million in Q1 2023
- 10 April 2023
Cambodia's imports of iron and steel amounted to US$93 million in the first quarter of 2023, up 11% from the same period last year. The two products were included in the list of top 20 commodities imported in March 2023, according to the General Department of Customs and Excise, The import of iron and steel accounted for 1.6% of the total import value of US$34.2 billion, indicating that the con...
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Trust Sector in Cambodia on Track to Reach US$1 Billion Capital Registration by End of 2023
- 7 April 2023
The Trust Regulator (TR) in Cambodia has announced a positive outlook for the country's trust sector, with a projected capital registration of more than US$1 billion by the end of 2023. As of March 2023, the total capital registered by the TR had already reached US$940 million, with 512 trusts registered. According to TR Director-General HE Sok Dara, the growth in the trust sector can be attrib...
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Rattanakiri Province Attracts 27 Private Companies for ELC Investment, 85% Vietnamese based
- 7 April 2023
Rattanakiri province, with its favourable geographical and climatic conditions, has attracted a total of 27 private investment companies in the past five years to invest in economic land concessions (ELC), covering over 110,000 hectares. Over 85% of these companies are Vietnamese-based, according to Rattanakiri Provincial Governor HE Nhem Samoeun. Director of the Provincial Department of Agricu...
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Cambodia, Laos jointly studies two priority locations to open a new border crossing
- 6 April 2023
Cambodia and Laos have announced plans to open a new border crossing that will connect Phu Vong district in Attapeu province of Laos to Vern Sai district of Ratanakkiri province in Cambodia. The two countries are currently studying two possible locations for the crossing, according to HE Nhem Sam Oeun, Governor of Ratanakkiri Province 4 April 2023. The first location is at post 103 between Vern...
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NagaWorld Continues to Thrive, Reporting a Revenue of US$117 Million in Q1 2023
- 5 April 2023
NagaWorld, Cambodia's leading gaming company, reported a revenue of over US$117 million in the first quarter of 2023, a significant increase of 6.8% from last year. This impressive financial result is the highest quarterly profit since 2020, when the Covid-19 pandemic began. According to a quarterly report by NagaCorp, the Hong Kong-based parent company of NagaWorld, the company attributes its ...
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ADB projects Cambodia’s economy at robust growth in 2023 and next year
- 5 April 2023
The Asian Development Bank (ADB) has forecast Cambodia’s economy at a robust growth of 5.5% in 2023 and 6.0% in 2024 on a more robust tourism recovery and higher growth in the services sector. According to an Asian Development Outlook April 2023 report released today issued on April 4, the tourism sector is expected to grow 7.3% in 2023 before easing to 6.8% in 2024. Inflationary pressure is...
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