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ខ្មែរ Economy and Finance
Kampong Speu’s Cultivated Area Increases to Over 120k ha Despite Growth of Factories
- 18 May 2021
Despite the growth of the number of factories, the cultivated area in Kampong Speu province rose to over 120,000 hectares as of early 2021, according to Governor HE Vy Samnang HE Vy Samnang posted on Facebook on 18 May that the cultivated area of Kampong Speu province has increased from 110,000 hectares to 120,000 hectares in the past year. "The reason for this growth is due to the fact the ...
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Energy Ministry, KrisEnergy Cooperate in Seeking Market for Apsara Crude Oil
- 17 May 2021
The Ministry of Mines and Energy (MME) and Singapore-based KrisEnergy have been working together to find markets to sell the crude oil produced from the Apsara oil field, according to MME Secretary of State Meng Satheara. HE Meng Sathera made the announcement in response to criticism over the lower-than-planned crude oil production. “The ministry is well aware of this, and so far, all govern...
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Number of Mortgage Applications in Q1 Increases by 15%, Though Values Drop by 4%
- 12 May 2021
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 by 4%. Meanwhile, the number of mortgage accounts as of March 2...
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Siem Reap Chosen as Venue for 2023 SEA Games Cycling
- 11 May 2021
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, which is very suitable to hosting all ki...
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Germany Provides US$63m Grant to Cambodia for Economic Development
- 7 May 2021
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 to the technical cooperation. In March, the German government al...
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AMRO: Faster Vaccination and Continued Fiscal Stimulus Keys to Economic Recovery
- 6 May 2021
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 forecast that th...
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First 7-Eleven in Cambodia Set to Open at PTT Prek Pnov Gas Station in July
- 6 May 2021
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. Thus, if the lockdown does not significantl...
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Workplace Mobility in Cambodia 80% Below Baseline During Lockdown
- 4 May 2021
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 February 20. Given such circumstances, what will be the future of th...
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Opening of Century Entertainment Casino in Koh Kong Delayed
- 4 May 2021
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 February to March, then again to late April. As the result...
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Star Vegas Casino in Poipet Sees 54.9% Revenue Drop in Q1 2021
- 3 May 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 International Ltd also declined from US$8.33 million in the first quarter of 2020 and US$4.63 mil...
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