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ខ្មែរ Economy and Finance
48 companies investing in 200k ha of concessional land in Kratie
- 31 January 2023
Kratie province has currently 48 companies investing in 198,970 hectares of economic land concessions, while more than 10 companies and enterprises are operating and planning to set up new factories in the province, according to Kratie Governor HE Va Thorn on 31 January. He said 86,374 hectares of land in Kratie is used forrubber plantation, 73,989 hectares for cassava, 64,917 hectares for cash...
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Cambodia-International Trade Valued at Over US$52bn in 2022
- 31 January 2023
Cambodia-international trade volume reached approximately US$52.42 billion as of 2022, an 9.1% y-o-y increase, according to Minister of Commerce HE Pan Sorasak on 30 January. Cambodia's export volume was at US$22.48 billion, a 6% y-o-y increase while import volume was at US$29.94 billion, also an increase of 4%. Meanwhile, the import value of construction materials, steel and cement saw a ...
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Ministry of Commerce Registers Over 10,000 New Businesses in 2022
- 31 January 2023
10,701 new businesses were registered at the Ministry of Commerce in 2022, up 40% from 2021, according to a report from the ministry released on Monday 30 January. There were 888 companies removed from the business list last year, an increase of 34% compared to 643 companies in 2021, read the report. There were more than 6,200 companies applying for licenses electronically, the ministry ...
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First Gov’t Bond Trial of Larger-Scale Public Fund Raising Mechanism
- 28 January 2023
The first set of government bonds is a trial for larger-scale capital-raising mechanisms in the future, said Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth. At a public forum on macroeconomic management on 25 January, HE Vongsey Visoth said the government bonds will help Cambodia become less dependent on foreign debt through local capital collection. "This bon...
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MOE: China’s Reopening to Contribute to Cambodia’s Economic Growth
- 26 January 2023
A senior official at the Ministry of Economy and Finance said that China's opening would contribute to Cambodia's economic growth through foreign direct investment from China and tourism, while FDI from China in Cambodia represented about 42% of total investment last year. At a public forum held on 25 January, Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth said th...
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Chinese display maker BOE to invest US$400m to build two factories in Vietnam
- 17 January 2023
Chinese display maker BOE Technology Group Co Ltd, a supplier of both Apple Inc and Samsung Electronics Co Ltd, plans to invest up to US$400 million to build two factories in Vietnam. According to Reuters, BOE is in talks to rent dozens of hectares of land in north Vietnam to add to its relatively small plant in the south that supplies mostly television screens to South Korea's Samsung and LG E...
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CSX Raises Over US$54million in Capital in 2022, 133% Y-o-Y Increase
- 17 January 2023
In 2022, the Cambodia Securities Exchange (CSX) raised a total capital of over 222 billion riels or US$ 54 million, an increase of 133% compared to 2021, according to a press release by CSX on 11 January 2023. Most of this capital came from the issuance of bonds, of which corporate bonds accounted for 63% and state securities accounted for 32%. In 2022, CSX also listed a total of seven new...
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Cambodia, S. Korea Vow to Further Strengthen Cooperation as Bilateral Trade Reaches US$5bn
- 14 January 2023
Cambodia and Korea are committed to expanding cooperation in all fields as bilateral trade volume reaches US$5 billion, according to a meeting between the President of the National Assembly of Cambodia Samdech Heng Samrin and the former President of the National Assembly of Korea Park Byeongseug on 12 January. During the meeting, the two leaders expressed a strong will to further strengthen an...
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Cambodia’s 2023 GDP Growth Forecast at 6%; Construction at 1.7%
- 11 January 2023
Cambodia's economic growth in 2023 is forecast at 6% despite high external challenges, according to a recent National Bank of Cambodia (NBC) report. The growth was largely supported by the rise of construction and real estate sectors, which are expected to continue to recover gradually at 1.7% and 1.2%, respectively due to the growing domestic demand and the trend of the affordable real estate...
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SME Bank Provides Over US$41m in Loans to 291 Tourism Businesses
- 6 January 2023
As of December 2022, the Small and Medium Enterprise Bank of Cambodia (SME Bank) has provided US$41.52 million in loan to 291 tourism businesses, according to the bank's announcement on 3 January 2023. The loan is part of the Tourism Restoration and Growth Sector (TRCS) co-financing project with a total budget of about US$150 million. Of these, 26% were in the hotel business, 28% in the gu...
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