Economy and Finance
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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UNDP Advises Cambodia to Issue Sovereign Bonds to Expand Financial Resources
UNDP has recommended Cambodia to issue sovereign bonds to expand domestic financial resources for urban development projects. This UN body published the advice in their recent report while also forecasting that Cambodia will graduate from its Least Developed Country (LDC) status in either 2027 or 2028. The report added it is time for Cambodia to […]
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Pandemic Dries Off US$3.6 bn in Investment Financing – Construction Sector FDI Inflow Drops by 10.6%
The COVID-19 pandemic crisis has reduced over US$3.6 billion in investment financing in Cambodia, or equivalent to 19.8% of total cash flow for 2020. In the meantime, FDI inflow to the construction and real estate sectors also dropped significantly by 10.6%. According to a press release from the United Nations Development Program (UNDP) in Cambodia […]
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Cambodia Earns US$1.1-billion Customs Revenue in H1; Construction Materials Contribute 6.2%
During the first half of 2021, the Cambodian government collected a total of US$1.1 billion in customs and excise revenue, of which construction materials contributed 6.2% or equivalent to US$71.7 million. A report from the General Directorate of Customs and Excise showed that the total revenue of Customs and Excise in H1 2021 dropped by […]
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79 New Factories Registered, 135 Close in H1: Industry Ministry
During the first half of 2021, there was a total of 79 new industrial investment projects registered in the kingdom, while 135 others have announced closures due to the pandemic. This is according to the primary report from the Ministry of Industry, Science, Technology and Innovation (MISTI). Secretary of State and Spokesperson of MISTI HE […]
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No Collateral Seized Despite COVID-19 Crisis: Banking Association
The Association of Banks in Cambodia has confirmed that despite the COVID-19 crisis, no borrower collateral has been seized due to late payment, but rather all banks under the association have been doing their best to ease the burdens of all their clients. General Manager of the Association of Banks in Cambodia Heng Koy said […]
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