Investment and Funding Archives - Page 25 of 64

Chinese Firms Jointly Provide US$4.5m to Build Two Major Infrastructure Projects in Cambodia

Sommana Yan
10 February 2023

Three major Chinese companies have jointly provided more than US$4 million in grants to Cambodia to construct two major infrastructure projects, according to the meeting between PM Samdech Hun Sen and three Chinese companies during his trip to China on 9 February. The three significant investors are China Road Bridge Corporation, Beijing Urban Construction Group, and China Metro Group. The...

Kampong Speu has 383 factories & enterprises worth nearly US$2 billion

Sommana Yan
10 February 2023

As of February 9, 2023, Kampong Speu province has 383 factories and enterprises with capital worth over US$2 billion, Governor Vy Samnang on 9 February. HE Samnang stressed that Kampong Speu province has substantial growth in the factory industry, which provides jobs to over 155,761 workers (115,522 women). He added that in the textile, garment, and footwear sectors, there are 189 places wi...

UK mulls investing more in energy & other sectors in Cambodia

Sommana Yan
7 February 2023

UK investors want to boost investment in infrastructure in Cambodia, especially in the energy sector. The intention was expressed during the meeting between the Secretary of State of the Ministry of Mines and Energy HE Sok Khavan and representatives UK Infrastructure and Projects Authority (IPA) as well as the UK Embassy in Cambodia on 6 February. During the meeting, the UK expressed interes...

Gov’t Urges Hungary to Invest More in Cambodia as Bilateral Trade Up 84% Y-o-Y

Sommana Yan
6 February 2023

Cambodia has asked Hungarian investors to study and explore more trade and investment opportunities in Cambodia, as the two countries' trade volume has increased significantly, reaching more than US$7 million in 2022. This is according to the meeting between Secretary of State of the Ministry of Commerce HE Tek Reth and new Ambassador of Hungary to the Kingdom of Cambodia HE Dr Tibor Balogdhi ...

PM: Cambodia Breaks Record of High Tax Collection in 2022

Sommana Yan
2 February 2023

Cambodia Prime Minister Samdech Hun Sen has praised the General Department of Taxation (GDT) for the successful tax revenue collection in the past year, which has broken the record of the highest tax collection. The GDT collected tax income exceeding the target plan, reaching the highest surplus of all time, Samdech Hun Sen said. The 2, 574, 07 billion Riels (approximately US$635.57 millio...

Stamp Duty Revenue in 2022 Increases 12.7% Y-o-Y

Sommana Yan
1 February 2023

In 2022, stamp duty revenue from real estate ownership transfers collected by the General Department of Taxation (GDT) increased by 12.7% compared to 2021, according to a GDT press release on 31 January. In 2022, GDT collected a total of US$3.4 billion, equivalent to 122.54% of the financial law plan for the management of 2022, a 23.96% y-o-y increase. In 2022, other tax revenue also maint...

First Gov’t Bond Trial of Larger-Scale Public Fund Raising Mechanism

Sommana Yan
28 January 2023

The first set of government bonds is a trial for larger-scale capital-raising mechanisms in the future, said Permanent Secretary of the Ministry of Economy and Finance HE Vongsey Visoth. At a public forum on macroeconomic management on 25 January, HE Vongsey Visoth said the government bonds will help Cambodia become less dependent on foreign debt through local capital collection. "This bon...

Gov’t Permits International Companies to Invest 100% in Phnom Penh-Ho Chi Minh Express Railway

Sommana Yan
25 January 2023

The Royal Government of Cambodia has urged French businesses to invest in the construction of high-speed railways and transportation in Cambodia, announcing that foreign businesses will be allowed to invest 100% in the Phnom Penh-Ho Chi Minh high-speed rail line. Prime Minister of Cambodia Samdech Hun Sen on 25 January welcomed and informed the French investment delegation that Cambodia has al...

Cambodia Refines 5 Tons of Gold Ore, Earning Nearly US$10 Million in Tax Revenue

Sommana Yan
25 January 2023

Cambodia's gold refinery firms have refined a total of 5.3 tonnes of gold ore by 2022, with the companies paying more than US$8 million in royalties and US$1.5 million other in tax revenue to the government. This figure was presented by officials of the Ministry of Economy and Finance in a public forum on microeconomic management and the budget law 2023 held on 25 January. There are seven ...

Cambodia has nearly 2,000 industrial plants worth US$16 billion in 2022

Sommana Yan
17 January 2023

Cambodia has 1,982 factories in operation by 2022 with a total investment capital of US$16.6 billion, according to a report from the Ministry of Industry, Technology, Science and Innovation. From January to December last year, the ministry registered 186 new factories and enterprises, while only 168 new factories opened in 2021. 83 factories closed in 2022, which was lower than the number of...