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ខ្មែរ Economy and Finance
ADB: Cambodia Should Embrace Green Investment to Achieve Low-Carbon Economic Growth
- 27 August 2021
The recently published article by the Asian Development Bank (ADB) has suggested that the Cambodian government shouild embrace more green investment and clean energy production to achieve low-carbon economic growth in the long run. Published on 25 August, the article entitled “Cambodia is making strides on the long road to low-carbon economic growth” is co-written ADB) Country Director for Camb...
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2,235 Construction Projects Worth Over US$2.5 billion Approved in H1, Down by 28% Y-O-Y
- 25 August 2021
During the first half of 2021, the Ministry of Land Management, Urban Planning and Construction (MLMUPC) issued permits for a total of 2,235 construction projects with an estimated investment value of US$2.5 billion, down by 28 % compared to the same period last year. MLMUPC Secretary of State HE Lao Tipseiha confirmed the numbers with PNN TV broadcast on Monday 23 August. He added said that...
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Cambodia to Receive US$64 million in Economic Recovery Aid from Australia
- 19 August 2021
The Australian Government has decided to provide Cambodia with AU$90 million (equivalent to US$64 million) economic recovery aid along with technical assistance for the next five years. This is according to a meeting between Minister of Economy and Finance HE Aun Porn Moniroth and Australian Ambassador to Cambodia Pablo Kang on Wednesday 18 August. The budget will be used for ongoing infrast...
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MEF: Cambodia’s Economic Growth Projected at 4.8% in 2022
- 17 August 2021
The Ministry of Economy and Finance has forecasted the kingdom’s economic growth in 2022 at 4.8% due to the gradual positive recovery signs driven by the effective vaccination campaign. Speaking at the seminar on the macroeconomic policy framework and public finance 2022 on the morning of Tuesday 17 August, Minister of Economy and Finance HE Aun Pornmoniroth expected that 2022 will be a better ...
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Gov’t Approves Further US$100-million Financial Support Scheme for SME Sector
- 17 August 2021
The Ministry of Economy and Finance (MEF) has approved a financial support scheme for the SME sector Phase II with a budget of US$100 million after the first phase was successfully implemented, according to a press release on Monday 16 August. The project aims to provide low-interest loans to SMEs in prioritised sectors such as industry and services to support their businesses amid the impact o...
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SHV Autonomous Port Posts 455% Net Income Increase in H1 2021
- 13 August 2021
Sihanoukville Autonomous Port posted an H1 net profit increase of 455% y-o-y as it considers building additional infrastructure to meet the demand of service and economic growth. The port stated in its Second Quarterly Report issued on 12 August that the January-June net profit was 14,075 billion riels (approximately US$12.48 million), a year-on-year increase of 455%. The increase in income ...
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IMF to Provide Non-Repayable US$240 million Pandemic Recovery Fund to Cambodia
- 12 August 2021
The International Monetary Fund (IMF) has approved a non-repayable US$240 million fund for Cambodia to cope with the impact of COVID-19 and restore its economy, according to a press release from Oxfam. The Board of Governors of the IMF has approved a general allocation of the largest Special Drawing Rights (SDRs) in history equivalent to US$650 billion (about SDR 456 billion) on 2 August 2021, ...
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Government Dismisses Report of Lower Se San II Project Impacts
- 11 August 2021
The Cambodian government has dismissed the Human Rights Watch’s report on the impacts of the Se San II dam, citing that dam development brings prosperity to people’s living, generates jobs, and generates electricity. The remarks were made after the Human Rights Watch issued the 137-page report noting the social, economic, environmental, and wildlife impacts, and the mobilisation of hundreds of ...
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Cambodia Imports 600 Tons of Steel from Vietnam in First Five Months of 2021
- 9 August 2021
Vietnam exported 584 tons of steel to Cambodia during the first five months of 2021, a year-on-year decrease of 1.5%, reported VN Express news. Meanwhile, the total export of steel for this country was at 4.1 million tons during this period, or equivalent to the value of US$3.61 billion, a year-on-year increase of 117% Among the top exporting market, Cambodia ranks fourth after China, the EU...
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Mortgage Applications Drop by 32% in Q2; Value Shrinks 17%
- 5 August 2021
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 of mortgage loan applications was recorded at 146,380 applications, or equal to 11.26% of ...
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