Economy and Finance
South Korea launches smart city project in Busan with ASEAN leaders
South Korea said they will build the country’s first “smart city” in Busan by 2024, where the infrastructure facilities and massive data collection will be controlled and maintained by the internet of things sensors, according to the Yonhap News Agency, on 24 November. President Moon Jae-in attended the ground-breaking ceremony for the Busan Eco Delta […]
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National Assembly approves draft 2020 budget of US$8.2 billion
The National Assembly of Cambodia unanimously approved a draft US$8.2 billion budget for expenditure in 2020 on Tuesday 26 November, a 22% increase compared to the 2019 budget law. According to the draft budget law, the majority of the budget will go to general administration, national defense, and the social sector. To meet the expenditure, […]
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Two sectors key to Cambodia achieving middle-income status by 2030
Cambodia has set itself the target of progressing from a low-income to a middle-income country by 2030 with an aim of achieving similar status to Thailand or Malaysia today in just over 10 years. At the 2nd Asia Pacific Summit on 19 November Samdech Techo Hun Sen said that, “now, Cambodia is making further efforts […]
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Hunan Province investors attracted by main sector potential
Cambodia has attracted investors from Hunan province, China to invest in the country’s main sectors. The Royal Government of Cambodia has encouraged the interest, particularly in the development of infrastructure to make Cambodia more competitive by being well-connected inside the country and in the region. Speaking at a Hunan Investment Promotion and Machinery Expo held […]
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Report: Demand in Cambodia increasing for construction and infrastructure advancement
As the Cambodian government focuses on infrastructure development, market opportunities are rising for companies operating in the construction and infrastructure industry to emphasise technological advancements and standardise modern methods of construction, according to the recently published OG Analysis report. Titled ‘Cambodia Construction and Infrastructure Market, Size, Share, Outlook and Growth Opportunities 2020-2026’, the report shows […]
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PM aims to transform Sihanoukville to be Asian Tiger financial hub
Cambodia’s Prime Minister Samdech Techo Hun Sen on 16 November expressed his ambition to transform the coastal city of Sihanoukville into an Asian Tiger financial and economic hub. The Prime Minister announced his ambition during the groundbreaking ceremony of 34 roads in Sihanoukville which will be built to identical technical standards using a budget of […]
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US$1 billion Spent on Road Infrastructure and Energy
The Royal Government of Cambodia has spent this year roughly US$1 billion as a public investment on building infrastructure in Sihanoukville province and installing 400 MW-power plants near Phnom Penh. Speaking at the graduation ceremony at the National Institute of Education, Samdech Techo Hun Sen said that the government is capable to collect income for […]
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Condominium purchasers can finally feel relief
By Eric Wong Chon Lap This is the year when condominium end-user purchasers can feel relief, with many developers saying that they will concentrate on completing their existing developments, and also focus on the unsold condominium inventory in response to the weaker demand, partly due to surge of condominium inventory in recent years. The reason […]
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The decrease in Chinese demand in the Sihanoukville real estate market
By Eric Wong Chon Lap China plays the biggest role in Sihanoukville’s economy and property market, where Chinese nationals comprise the largest number of expatriates with work permits in Sihanoukville. Within the tourism industry, the most visible increase has been in Chinese tourist arrivals and the number is expected to still rise further. The country […]
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Instant noodle manufacturing factory inaugurated
An instant noodle manufacturing factory equipped with technology from Japan was inaugurated on Saturday 02 November in Phnom Penh and hopes Cambodians will support it by wanting to promote locally-produced products. Invested by One More Manufacturing Co Ltd, the instant noodle factory producing Mee Chiet noodles is located in Kok Rokar commune, Pur Senchey district. […]
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