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ខ្មែរ Economy and Finance
Royal Railways Officially Issues US$10 million Bond on CSX
- 31 October 2022
Royal Railway PLC, a provider of rail, train, passenger, warehouse, and customs services has listed bonds of a total of 41 billion riels (approximately US$10 million) on the Cambodia Securities Exchange (CSX). The official bond listing ceremony was held on 31 October 2022, in the presence of Okhna Kith Meng, President of Royal Group, and HE Hean Sahib, Secretary of State of the Ministry of Econ...
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Cambodia, China Signs MOU to Export Edible-Nest Swiftlets to China
- 31 October 2022
The Cambodian Ministry of Commerce and the Cambodian Business Center in Xiamen, China, are working together to promote the export of Cambodian edible-nest swiftlets to China. Both parties are also planning to establish an edible-nest swiftlet processing plant in Cambodia as well. (Read more) HE Chhuon Dara, Minister Delegate to the Prime Minister and Secretary of State for the Ministry of Co...
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MPWT Earns Over US$200 million in Last 6 Years
- 28 October 2022
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 US$1.9 million, while the revenue in 2021 was US$42 million,” sa...
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PPAP Earns Over US$30m in Revenue in First 9 Months of 2022, a 21% Increase Y-o-Y
- 19 October 2022
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 of US$3 million, revenue from other services of US$212,287, and other rev...
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Cambodia-Vietnam to connect new tourist destinations by sea
- 13 October 2022
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 on October 10, 2022. Previously, both sides ha...
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Toyota Urges Cambodia to Reduce Tariffs on Imported Hybrid Cars
- 13 October 2022
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 proposal aims at encouraging Cambodians to use more hybr...
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Chip Mong Bank Opens New Branch at Chip Mong Mega Mall 271
- 5 October 2022
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 level of luxury, professionalism, and innovation. In 2022, Chip Mong Bank inaugurated and ope...
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Chinese Gov’t Asks Top Banks to Provide Over US$84 billion to Rescue Real Estate Sector
- 4 October 2022
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 actions implemented by the Chinese government to help ...
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WB Projects Cambodia’s GDP Growth at 4.8% in 2022, 5.2% in 2023
- 27 September 2022
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...
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ADB Lowers 2023 Cambodia’s Economic Growth Forecast from 6.5% to 6.2%
- 22 September 2022
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 the increase in exports of goods and the flow of fore...
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