Economy and Finance
Mortgage Applications Drop by 32% in Q2; Value Shrinks 17%
The number of mortgage loan applications in the second quarter of 2021 dropped by 32% while the total loan value also decreased by 17%, compared to the first quarter of the same year, according to a recent report by the Credit Bureau Cambodia (CBC). The same reported added that as of June 2021, the number […]
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Is the Overheating Property Market Bad for the Economy?
An economist from the Royal Academy of Cambodia HE Ky Sereyvath has expressed concern that overheating growth in the real estate sector no longer benefits the local economy and will eventually push housing prices beyond the purchasing power of the local population. HE Ky Sereyvath made the statement during an interview with RFI earlier this […]
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Cambodia Lowers Growth Forecast to 2.5% for 2021; Property Sector Remains Uncertain
Cambodian Prime Minister Samdech Hun Sen has lowered the kingdom’s forecasted economic growth from 4% to only 2.5% this year, due to the severe impact of the COVID-19 pandemic. Samdech Hun Sen explained that this growth will be mainly supported by the agricultural sector as the export of agricultural products has increased more than expected. […]
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PM: Expenses on COVID-19 Now Equal to Constructing 10 Mekong River Bridges
The Cambodian government has revealed that expenditures in the fight against the COVID-19 pandemic have reached millions of dollars or equivalent to the cost of construction of 10 Mekong River bridges. Prime Minister Samdech Hun Sen said on Sunday that what Cambodia has spent so far is already over the cost of the construction of […]
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PM: Cambodia Extracts 137kg of Gold on Average per Month
Prime Minister Samdech Hun Sen said on Sunday that Cambodia can extract on average approximately 137kg of gold per month. The announcement comes after an Australian company launched a commercial gold mine operation in Mondulkiri province in June. Speaking at the opening ceremony of the vaccination campaign for teenagers aged 12 to 17 years, PM […]
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Poipet Casino Star Vegas Reports More Losses in Q2 Due to Extended Closure
Poipet-based casino giant Star Vegas has announced an EBITDA loss of AU$530,000 in the second quarter of 2021 due to the extended closure of the casino since April, reported Inside Asian Gaming recently. In the second quarter, the company’s revenue was only AU$1.1 million, down 56% from the first quarter, while expenditure remained high. “The […]
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OECD: Cambodia’s Logistics System Needs Reform to Increase Competitiveness
Cambodia’s logistic system in recent years has grown significantly but is still inadequate and limited due to high costs and the complexity of laws and regulations, according to OECD’s recent report which argued that reform is required to increase competitiveness. The report added that logistics prices in Cambodia are relatively high compared to other ASEAN […]
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Number of Construction Projects, Value & Area in H1 Dropped by 11.4% 34.3% & 29.9% Respectively
The number of construction projects, the investment value, and total area approved in H1 2021 have decreased by 11.4%, 34.3%, and 29.9% respectively, compared to the same period last year, according to a recent report from the National Bank of Cambodia (NBC) The report added that the drop predominantly stems from the slowdown in tourism […]
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Consumer Loans Rise to Over US$33bn as of H1, Construction & Property Attributed 31%
As of H1of 2021, consumer loans in the banking sector have increased to over US$33.9 billion, 31% which were attributed to the construction and property sectors, according to the recent report of the National Bank of Cambodia (NBC). Among all the personal home loans, construction, and real estate activities accounted for 13.1%, 9.5%, and 8.4%, […]
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Over 360k Loan Accounts Worth US$5.5bn Restructured as of H1, Construction Sector Attributed 15%
From 2020 to H1 2021, banking and financial institutions have restructured a total of 367,239 loan accounts or equivalent to over US$5.5 billion in value, 15% of which were assigned to the construction sector. According to a report from the National Bank of Cambodia, there were a total of 32,636 restructured loan accounts in the […]
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