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ខ្មែរ Economy and Finance
Phnom Penh Records Over US$320m Tax Revenue in 2022, Property Tax Contributes Over US$26m
- 12 March 2023
The total tax revenue in Phnom Penh exceeded expectations, reaching over 1,298 trillion Riels, equivalent to more than US$320 million, or 115.46% of the plan, according to the 2022 annual report on the performance of the Phnom Penh Capital Administration. The report also revealed that property tax contributed significantly to the total revenue, with 108.83 billion Riels, equivalent to more tha...
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PM Hun Sen: Cambodia Aims to Be the World’s Largest Cashew Nuts Exporter
- 11 March 2023
Cambodian Prime Minister Hun Sen has expressed his support for the domestic cashew production industry to drive Cambodia to become the world's largest producer of cashew nuts. During his speech at the 7th River Festival in Kampong Thom province, PM Hun Sen emphasised the potential of Cambodia's cashew products, stating that they are of good quality and can supply the domestic market as well a...
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Pursat Province Boasts 1,162 Operating Enterprises, Including 49 Mineral Resource Businesses
- 8 March 2023
According to HE Khoy Rida, Governor of Pursat province, as of 7 March 2023, Pursat province has a total of 1,162 commercial enterprises operating in the province. These enterprises comprise 292 private companies, 482 sole proprietorships, enterprises and 388 business subsidiaries. HE Khoy Rida also highlighted that Pursat province is home to 10 rice mills for domestic and foreign export and a...
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Nearly 700 Factories, Enterprises & Handicrafts Operating in Takeo Province in Sign of Economic Development
- 7 March 2023
Takeo province, located in southern Cambodia, is home to nearly 700 small and medium enterprises and handicrafts, according to HE Ouch Phea, Governor of Takeo province at a press conference on "Success in the past 5 years of Takeo Provincial Administration" on 2 March 2023. The governor emphasised that, in addition to agriculture, industry is also a core sector of the province’s economic develo...
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Asia-Pacific GDP Forecast to Grow Slowly in 2023, Drop to 2.9% Growth in 2024
- 5 March 2023
The Asia-Pacific region's economy is expected to experience slow growth in 2023, according to a report from an Asia-Pacific Economic Cooperation (APEC) research unit. The report forecasts that the region's GDP will expand by 3.1% this year before dropping to 2.9% growth in 2024, due to downside risks continuing to pressure recovery. "The enduring pandemic, high inflation coupled with rising int...
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Cambodia’s Industrial Sector Begins to Bounce Back Post Pandemic
- 3 March 2023
Cambodia's industrial sector has continued to show promising growth, with 1,982 manufacturing factories operating in 2022 and producing a total output of $15,834 million. This represents an impressive 83% increase from the previous year. HE Cham Prasidh, Senior Minister and Minister of Industry, Science, Technology and Innovation, revealed these figures at the annual meeting to review and set o...
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20% Property Insurance Premiums Increase Reflects Growing Demand for Property Insurance in Cambodia
- 2 March 2023
In a recent report released by the Insurance Regulator of Cambodia, it has been revealed that property insurance premiums are set to rise by 20% in 2022. The total premium for property insurance is estimated to reach approximately US$45 million, indicating a significant increase from the previous year. The general insurance sector in Cambodia covers a broad range of insurance types, including p...
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In Four Months, PP-SHV Expressway Generated Almost US$11 Million
- 1 March 2023
The Phnom Penh-Sihanoukville Expressway earned almost US$11 million in the first four months since the start of traffic charging on 1 November 2022 to 28 February 2023, according to the Ministry of Public Works and Transport. The ministry further announced that it is continuing to work with operators to enhance the provision of expressway services and address any issues that may arise, aiming t...
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Raw material processing industry in Cambodia attracts more investors
- 27 February 2023
Cambodia Prime Minister Samdech Hun Sen said that the agricultural processing industry is catching momentum both for local and foreign investors while also helping increase value-added and high-quality supply to local markets and export. At the graduation ceremony for students of the National Polytechnic Institute of Cambodia on February 27, PM Hun Sen said that Cambodia's main potential agricu...
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Cambodia-Vietnam Kaam Samnor-Vinh Xuong border checkpoint officially opened
- 24 February 2023
Cambodia and Vietnam jointly inaugurated the Kaam Samnor-Vinh Xuong international border gate. Held on 23 February, the opening ceremony was presided over by HE Nop Dara, Deputy Governor of Kandal Province. HE Nop Dara thanked Vietnam for its efforts to establish the Vinh Xuong land border to align with Cambodia's Kaam Samnor located in Leuk Dek District, Kandal Province. The border has s...
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