Economy and Finance
Number of Mortgage Applications in Q1 Increases by 15%, Though Values Drop by 4%
The number of mortgage application in Cambodia in the first quarter of 2021 increased by 15% compared to the previous quarter, according to a recent report by the Credit Bureau Cambodia (CBC). The report added that even though there was an increase in the number of applications, the total value of mortgages, in contrast, dropped […]
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Siem Reap Chosen as Venue for 2023 SEA Games Cycling
Among three potential provinces, Siem Reap has been chosen to host the cycling for the upcoming 2023 SEA Games, according to the Ministry of Tourism’s announcement yesterday. The ministry stated that Siem Reap is a high-priority province as it has ready infrastructure such as airports, roads, ancient temples, and especially the Phnom Kulen National Park, […]
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Germany Provides US$63m Grant to Cambodia for Economic Development
The German government has promised to provide approximately a US$63 million gran for Cambodia to support the country’s economic development from 2021 to 2022 after two days of negotiation between the two nations on 4 – 5 May. Of the total, approximately US$31 million will be used for financial cooperation while the rest will go […]
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AMRO: Faster Vaccination and Continued Fiscal Stimulus Keys to Economic Recovery
The ASEAN+3 Macroeconomic Research Office (AMRO) has recommended Cambodia speed up vaccinations and continue providing more targeted and flexible policy measures to achieve economic growth in the upcoming years. This suggestion came after the preliminary assessment by AMRO during its virtual Annual Consultation with the Cambodian authorities from 19 April to 4 May 2021. AMRO […]
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First 7-Eleven in Cambodia Set to Open at PTT Prek Pnov Gas Station in July
After 2 years of planning, 7-Eleven Cambodia is set to open its first branch this July at the Prek Phnov PPT gas station, according to the official announcement of the Department of International Trade Promotion (DITP), Thailand’s Ministry of Commerce. The statement added that the team is currently wrapping up the construction and interior decoration. […]
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Workplace Mobility in Cambodia 80% Below Baseline During Lockdown
The COVID-19 pandemic has put significant pressure on the office market over the past year. The mobility of this sector has become even worse during the 2021 lockdown as people have been forced to work from home. According to Google Mobility Tracker, workplace traffic in Cambodia for April was at -80% below the baseline before […]
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Opening of Century Entertainment Casino in Koh Kong Delayed
Century Entertainment International Holdings Ltd has decided to once again delay the reopening date of its casino at the new venue in Dara Sakor district, Koh Kong province, due to the continued impact of the ongoing COVID-19 community outbreak in Cambodia, reported IAG. This is the third time that the reopening has been postponed, from […]
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Star Vegas Casino in Poipet Sees 54.9% Revenue Drop in Q1 2021
One of the major casinos in Poipet, Star Vegas, has suffered a 54.9% drop in revenue during the first month of 2021, compared to the last and first quarter of 2020. According to IAG, the total revenue of Star Vegas in Q1 was only US$1.94 million. While the total net revenue of operation firm Donaco […]
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NagaWorld to Slash 1,300 Jobs as COVID-19 Hits Profits
Due to the large drop in profit caused by the COVID-19 pandemic, Cambodia’s largest casino NagaWorld has decided to slash 1,300 jobs, according to the South China Morning Post. These 1,300 jobs are equal to more than 15% of the total staff, who will be laid off in the next few weeks. The SCMP added […]
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Cambodia Construction Investment Capital Valued at US$1.6 billion in Q1 2021, Down by 35%
Total investment capital in the construction sector nationwide was valued at US$1.66 billion in the first quarter of 2021, down by 35% compared to the same period in 2020, according to figures from the Ministry of Economy and Finance. Of the approved construction projects, housing and villa projects represent the largest portion of investment at […]
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