Economy and Finance
EU Cracks Down on Unsustainable Supply Chains with Landmark Directive
The European Union (EU) has taken a significant step towards promoting ethical and sustainable practices in global supply chains with the adoption of a new directive on corporate due diligence. This legislation, applicable to large companies within the EU, mandates stricter accountability for environmental and human rights issues throughout their operations and supply networks, according […]
Read More
Dubai Issues Golden Visa: A Luxury House Costs US$24m, Still Cheap for Chinese Buyers
Dubai’s Booming Market and Golden Visa Scheme Lure Investors from Mainland China and Hong Kong Fuelled by a thriving real estate market and a fast-track residency program, Dubai is rapidly becoming a top destination for property investors from mainland China and Hong Kong, according to industry experts. This shift in investor focus comes after years […]
Read More
East Asian Powers Renew FTA, But Expert Asks ‘Will Xi Jinping Seal the Deal?’
Japan, South Korea, and China have revived efforts to strengthen commercial ties, seeking progress on stalled free trade agreement (FTA) negotiations during their first joint summit in over four years. The summit, held in Seoul early this week, marks a significant step in bolstering economic cooperation between the three nations. This information was published by […]
Read More
Cambodia Sees Over 30% Increase in Steel Imports in Early 2024
In the first four months of 2024, Cambodia imported iron and steel worth approximately US$168 million, marking a significant 30.6% increase from the US$129 million recorded during the same period in 2023. This data was reported by the General Department of Customs and Excise on 21 May 2024. The increase in imports extends beyond iron […]
Read More
Cambodia’s Trade Volume Hits US$17bn in First Five Months of 2024, Down 10%
In the first five months of 2024, Cambodia’s trade volume reached approximately US$17 billion, marking a 10% decrease compared to the same period in 2023. This decline, reported by HE Sok Sopheak, Secretary of State and spokesperson for the Ministry of Commerce, was attributed to sluggish overseas consumer markets and inflation in buyer countries. The […]
Read More
SHV Autonomous Port Generates Over US$35m in Four Months, Up 24%
In the first four months of 2024, Sihanoukville Autonomous Port earned over US$35 million from its import and export operations, handling more than 3 million tons of goods. This marks a significant 24.40% revenue increase compared to the same period in 2023. This data was reported by Mr. Thai Rithy, Deputy Director General of Sihanoukville […]
Read More
Cambodia & Turkey Agree to Boost Bilateral Trade to US$1bn
Cambodia and Turkey have committed to enhancing their bilateral trade to US$1 billion in the near future. This agreement was announced in a press release by the Ministry of Foreign Affairs and International Cooperation on 30 May 2024. During a two-day visit to Turkey, Cambodian Foreign Minister Sok Chenda Sophea aimed to broaden cooperation across […]
Read More
Nine-Month Leadership Boosts Cambodia’s Economy to 6%, Tops ASEAN
Under the nine-month leadership of the Cambodian government’s seventh mandate, the Cambodian economy is projected to grow by approximately 6% in 2024, making it the fastest-growing economy in ASEAN and the third in Asia post-COVID-19. This announcement was made by Pen Bona, Minister Delegate to the Prime Minister and a government spokesman, during a recent […]
Read More
Beijing Invests US$42bn to Revive Struggling Real Estate Sector, but Analysts Warn Insufficient
In a bold move to stabilise the struggling property market, the People’s Bank of China (PBOC) is establishing a nationwide program offering a staggering 300 billion yuan (US$41.5 billion) in loans, as reported by CNN, 17 May 2024. Industry experts estimate this initial injection could ultimately translate into 500 billion yuan (US$69 billion) worth of […]
Read More
AMRO Forecasts Cambodia’s Economy to Grow 5.6% in 2024 and 5.9% by 2025
The ASEAN + 3 Macroeconomic Research Office (AMRO) recently released a positive outlook for Cambodia’s economy, predicting a growth rate of 5.6% in 2024 and 5.9% in 2025. This upward trend signifies a significant improvement compared to the 5% growth recorded in 2023, according to AMRO press release on 23 May 2024. Garment Sector & […]
Read More