Investment and Funding Archives - Page 23 of 64

CDC Approves $36.2 Million Investment in Solar Panels and Agricultural Products in three provinces

Sommana Yan
14 April 2023

The Council for the Development of Cambodia (CDC) has recently granted registration certificates to four companies with a total investment of $36.2 million, aimed at constructing four factories in three provinces. According to the CDC, the investments are expected to boost the economy and provide job opportunities for locals. One of the companies, "SUNFLOWER ENERGY (CAMBODIA) CO., LTD," will in...

Trust Sector in Cambodia on Track to Reach US$1 Billion Capital Registration by End of 2023

Sommana Yan
7 April 2023

The Trust Regulator (TR) in Cambodia has announced a positive outlook for the country's trust sector, with a projected capital registration of more than US$1 billion by the end of 2023. As of March 2023, the total capital registered by the TR had already reached US$940 million, with 512 trusts registered. According to TR Director-General HE Sok Dara, the growth in the trust sector can be attrib...

Cambodia and Korea Sign US$1.6 Billion Concessional Loan Agreements for Development Projects

Sommana Yan
6 April 2023

Cambodia and Korea signed 32 concessional loan agreements worth a total of US$1.6 billion to finance 29 development projects and programs by 2022. This was announced during a courtesy call between HE Aun Pornmoniroth, Deputy Prime Minister and Minister of Economy and Finance, and HE Park Jung-Wook, Korean ambassador to Cambodia, on 3 April. Under the framework of the concessional loan from 2001...

AFD Increases Funding to €200m for Cambodia, €25M (US$27M) Allocated for Rural Road Development

Sommana Yan
30 March 2023

The French Agency for Development (AFD) has reaffirmed its commitment to supporting Cambodia's economic growth by doubling its cooperation financing from €100 million to €200 million per year. Furthermore, an additional €25 million (US$ 27 million) will be allocated to the Department of Rural Development for rural infrastructure development. At the recent meeting on 28-29 March 2023 between the...

JICA signs US$30m additional grant to expand water supply system in Svay Rieng

Sommana Yan
29 March 2023

The Japan International Cooperation Agency (JICA) has signed an amendment to a grant agreement with the Ministry of Economy to expand the water supply system (WSS) in Svay Rieng province worth more than US$30m (3,986 million yen). The agreement was signed by His Excellency Aun Porn Moniroth, Minister of Economy and Finance, on 21 March 2023. The grant aims to maintain the stability of the water...

How Cambodian Migrants’ US$2.7B Contribute to Real Estate Investment and Economic Growth

Sommana Yan
29 March 2023

More than 1.3 million Cambodians living and working overseas contribute to their home country's economic growth by remitting approximately US$2.7 billion annually to their families. The remittances, which are often invested in the real estate sector and saved for future business opportunities, support the well-being of working families. According to a report from the Ministry of Labour released...

Banteay Meanchey Received Almost US$1.5M Daily from Customs Revenues

Sommana Yan
28 March 2023

Banteay Meanchey province has earned almost US$1.5 million in customs revenue daily, making it one of the most successful provinces in Cambodia in this regard. This was announced by HE Um Reatrey, Governor of Banteay Meanchey province, during a press conference held on 28 March 2023. “Based on the data of the customs branch reported, in some months, Banteay Meanchey ranks first in the country i...

Prey Veng Province Generates US$ 5 Million from Construction Stone Business in 5 Years

Sommana Yan
24 March 2023

The collection of tax revenue from all types of construction stone businesses in the province has amounted to approximately US$ 5 million in the past five years. The revenue was collected from all kinds of sand and stone processing businesses, totaling around US$ 4.57 million from 2018 to 2022, with US$ 2.19 million collected in 2022 alone, according to HE Chea Somethy, Governor of Prey Veng Provi...

S.Korea Contributes US$10M for Demining Project in Three Cambodian Provinces

Sommana Yan
23 March 2023

South Korea has provided US$10 million to Cambodia for the fourth phase of demining projects (2021-2025) in three provinces, according to His Excellency Senior Minister Ly Thuch, First Vice President of the Mine Authority, on March 20, 2023. The project, called Demining for Success, was launched in 2006 and has cleared a total of 322.87 square kilometers of landmines, benefiting more than one m...

Cambodia Receives US$31M from Mekong-Lanchang Cooperation

Sommana Yan
23 March 2023

Cambodia has received US$31 million from the Mekong-Lanchang Cooperation (MLC) Special Fund to support 80 development projects, including infrastructure, according to HE Prak Sokhon, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation. In celebration of "Mekong-Lan Chang Cooperation Week 2023", HE Prak Sokhon stated that the MLC Special Fund has responded to the ...