Economy and Finance
China to Expand Property Tax Trail to Check Speculation
The Chinese government has decided to expand the property tax trail, which is a part of reforms in the sector aimed to promote “rational housing consumption”. China’s top legislature, the National People’s Congress Standing Committee, on Saturday approved the latest plan, according to Xinhua. The announcement comes with President Xi Jinping pushing for more “common […]
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Cambodia Gov’t Mulls Issuing Bonds Worth Over US$300 million in 2022
The Cambodian government plans to issue its first sovereign bonds worth US$300 million worth next year to raise more funds for public investment projects to boost economic growth and productivity. The Ministry of Economy and Finance (MEF) unveiled this plan in the executive summary of the Draft Law on Finance for 2022, which was approved […]
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Cambodia Needs 1.6 billion SDR to Develop Six Prioritised Sectors in 2022
The Cambodian government would need a total of 1.6 billion SDR (international reserve assets) to develop six prioritised sectors or equivalent to 35 public investment projects in 2022, according to the new Draft Law on Financial Management. The SDR will be allocated to sectors such as energy (8 projects), irrigation (5 projects), physical infrastructure (7 […]
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China’s Urban Planning Institute Helps Cambodia Develop SHV into a Multi-Purpose SEZ
The Ministry of Economy and Finance (MEF) and the Urban Planning and Design Institute of Shenzhen (UPDIS) have signed a master plan consultancy contract agreement, whereby the institute will provide services in preparing a master plan to transform Sihanoukville into a multi-purpose special economic zone. The agreement was signed on 18 October virtually between MEF […]
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ADB Provides US$40-million Loan to Support SMEs & Financial Stability in Cambodia
The Asian Development Bank (ADB) has decided to provide US$40 million in loans to help stabilise Cambodia’s financial sector, especially for SMEs affected by the COVID-19 pandemic. According to an ADB press release on 18 October, the loan will help small and medium-sized enterprises (SMEs) to recover from the pandemic by insuring them with the […]
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Construction materials import value up by 20% in first 8 months of 2021
During the first eight months of 2021, the import value of all goods to Cambodia (except gold) was recorded at US$14.6 billion, an increase of 26.7% compared to the same period last year, while the construction materials import value also jumped by 23.7% y-o-y. According to a report from the Ministry of Economy and Finance, […]
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NagaWorld Reopens for COVID-19 Vaccinated Guests
NagaWorld Casino has reopened to COVID-19 vaccinated guests. The reopening comes after the giant casino in central Phnom Penh temporarily closed in April due to the February 20 Community Incident. NagaCorp said its subsidiary NagaWorld reopened on 15 September with permission from Cambodia’s Ministry of Health. With the service resuming, NagaWorld has set up a […]
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World Bank, IMF forecast Cambodia’s 2021economic growth at 2.2%, approx. 4-5% for 2022
The World Bank (WB) and the International Monetary Fund (IMF) have recently lowered Cambodia’s economic growth forecast in 2021 to only 2.2% but predicted that the rate will rebound to 4.5 to 5% in 2022. According to a World Bank report, the 2.2% is the drop from a 4% forecast in April 2021 due to […]
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ADB Sets Aside US$1.4bn Loan & US$31.8m Grant Aid for Cambodia in Next 4 Years
The Asia Development of Cambodia (ADB) have prepared over US$1.49 billion in concessional loans and US$31.8 million in grant aids for Cambodia in the next four years from 2021 to 2024. According to the ADB’s press release last week, both concessional loans and grant aids aim to support Cambodia’s economic development and recovery from the […]
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ADB Lowers 2021 Cambodia Growth Forecast to 1.9%, Jumping Back to 5.5% in 2022
The Asian Development Bank (ADB) has lowered the 2021 Cambodia economic growth forecast from 4% to 1.9% but expects to see a 5.5% to the growth rate in 2022. According to the Asian Development Outlook Update (ADOU) 2021 report, the main factors causing the lower growth rate are the prolonged pandemic, closures and temporary shutdowns […]
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