Cambodia Expands Diplomacy with New Embassies and Consulate!
In a significant move to enhance its diplomatic presence, Cambodia has announced the establishment of an Embassy in Timor-Leste and a Consulate General in Songkhla, Thailand. This decision formalized through Sub-Decree No. 240 and No. 241, dated October 22, 2024, marks a strategic step in extending Cambodia’s international relations. The new Embassy of the Kingdom […]
Banking Sector Responds to Housing Crisis with Reduced Interest Rates
In a significant move to revitalize the struggling real estate sector, banking and financial institutions in Cambodia have announced a reduction in interest rates on real estate loans. This decision aims to alleviate homebuyers’ financial burden and stimulate industry growth. Starting immediately, home development and real estate interest rates will be cut to 8% annually. […]
Global supply chains are shifting away from China, with Cambodia well-positioned to seize the opportunity
The rapid diversification of manufacturing across Southeast Asia is reshaping global supply chains as the region emerges as a key beneficiary. Chinese companies are increasingly implementing the China Plus One strategy, through which additional manufacturing bases outside China are being established to reduce disruption to domestic supply chains. This strategy, coupled with rising foreign direct […]
SHV Multi-Purpose Economic Zone Targets USD 20 Billion Investment to Transform the Province
Sihanoukville’s ambitious multi-purpose economic zone development project is set to attract over USD 20 billion in investments from private sector investors and international development partners over the next 15 years. This transformative initiative, championed by the Cambodian government, aims to revitalise the province’s economy, elevate local incomes, and establish Sihanoukville as a leading logistics hub […]
Phnom Penh’s Southwest Irrigation Project Achieves 32% Completion, Promising Agricultural Revival
The Irrigation and Water Rehabilitation Project in southwest Phnom Penh has reached a notable milestone, with 32% of the construction work completed as of 26 December 2024. This progress was confirmed during a site inspection led by HE Pich Veasna, Undersecretary of State and Project Director, representing HE Thor Chetha, the Minister of Water Resources […]
Darasakor International Airport Opens, Ushering in a New Era for Koh Kong Province
Koh Kong Province celebrated a landmark achievement with the inauguration a $200 million Darasakor International Airport on 26 December 202. This state-of-the-art facility invested by the Chinese company Union Development Group spanning 218 hectares in the Botum Sakor district, is poised to transform the region’s connectivity and catalyse economic and tourism growth. The airport’s grand […]