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ខ្មែរ Economy and Finance
WB: Cambodia Ranks Third in Southeast Asia’s Fastest Growing Economies in 2023
- 4 April 2023
The World Bank (WB) has maintained its 2023 economic growth rate forecast for Cambodia at 5.2 per cent from its projection in October 2022. This places Cambodia as the third-fastest-growing economy in the region, after Vietnam (6.3%) and the Philippines (5.6%), according to the World Bank's updated economic forecast for the Southeast Asia region. The report attributes the projected growth to Ch...
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How Cambodian Migrants’ US$2.7B Contribute to Real Estate Investment and Economic Growth
- 29 March 2023
More than 1.3 million Cambodians living and working overseas contribute to their home country's economic growth by remitting approximately US$2.7 billion annually to their families. The remittances, which are often invested in the real estate sector and saved for future business opportunities, support the well-being of working families. According to a report from the Ministry of Labour released...
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Banteay Meanchey Received Almost US$1.5M Daily from Customs Revenues
- 28 March 2023
Banteay Meanchey province has earned almost US$1.5 million in customs revenue daily, making it one of the most successful provinces in Cambodia in this regard. This was announced by HE Um Reatrey, Governor of Banteay Meanchey province, during a press conference held on 28 March 2023. “Based on the data of the customs branch reported, in some months, Banteay Meanchey ranks first in the country i...
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Gov’t to Upgrade An Ses to Be New International Checkpoint
- 25 March 2023
The government of Cambodia and Thailand have agreed to upgrade the An Ses border, a vital trade border in the Choam Ksan District of Preah Vihear province, to be an international checkpoint in the near future. This was announced by Preah Vihear governor, HE Kim Rithy, during a press conference on the province’s achievements over the past five years on March 23, 2023. Both countries have formall...
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China-Cambodia Flights Set to Expand to 300 Flights Weekly, Attracting Millions of Chinese Tourists
- 22 March 2023
Cambodian Prime Minister Hun Sen announced on 22 March that Cambodia is set to welcome between 3 to 5 million Chinese tourists annually, following the expansion of China-Cambodia direct flights to 300 flights per week. Prior to the pandemic, Cambodia received over 2 million Chinese tourists annually. During a recent visit to China, Prime Minister Hun Sen and Chinese President Xi Jinping discuss...
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Royal Group and Keppel Energy sign deal to export 1k Mw renewable energy to Singapore via submarine power line
- 17 March 2023
Cambodia's Royal Group Power Company Ltd (RGP) and Singapore's Keppel Energy Pte Ltd (KE) have signed a power purchase agreement for the export of renewable energy generated through a submarine power line from Cambodia to Singapore. The deal allows Cambodia to export 1000 Mw of renewable energy to Singapore via submarine high-voltage transmission, and the two companies will jointly study the feasi...
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Cambodia and UAE to Sign Comprehensive Economic Partnership Agreement
- 17 March 2023
Cambodia and the United Arab Emirates (UAE) have finalized the negotiations for the Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement (CAM-UAE CEPA), which will be signed later this year. The agreement aims to diversify export markets and promote Cambodia's economic integration into the region and the world. Minister of Commerce H.E. Pan Sorasak and H.E. Thani bin Ahmed...
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CGCC to Lend Over US$100m to More Than 10K businesses by February 2023
- 15 March 2023
The Credit Guarantee Corporation of Cambodia (CGCC) announced on 10 March 2023 that it had provided credit guarantees to 1,155 companies with a loan amount of around US$104.9m by the end of February 2023. This marks an increase of US$15.9m from the previous year's loan amount of US$89m. Of the 1,155 businesses, 81 were large companies, while 1,074 were small and medium-sized enterprises. Among ...
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New Economic Pole to Help Strengthen Cambodia-Thailand Border Trade Partners
- 14 March 2023
Cambodia has revealed its plans to create a fourth economic pole along the Cambodian-Thai border, aiming to boost economic growth and trade in the agricultural sector. The announcement was made by the Minister of Agriculture, Forestry and Fisheries, HE Minister Dit Tina, during a meeting with HE Cherdkiat Atthakor, Ambassador Extraordinary and Plenipotentiary of the Kingdom of Thailand, on 10 Marc...
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Russians Overtake Chinese to Become Biggest Phuket Condo Buyers as Russia-Ukraine War Continues
- 12 March 2023
Amidst the ongoing conflict between Russia and Ukraine, Russian investors have become the leading purchasers of condominiums in Phuket, Thailand, overtaking Chinese buyers from the top spot. “Last year, Russians became the leading purchasers of condominiums on the island, dislodging Chinese buyers from the top spot. According to Thailand’s Real Estate Information Centre, 40% of all condos in ...
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