Prime Minister Hun Manet on Friday said that the Council for the Development of Cambodia (CDC) approved 414 investment projects worth $6.90 billion in 2024, an increase of 40 percent compared to $4.92 billion last year. The information was shared during the Premier’s first official meeting with CDC which was participated by Sun Chanthol, Deputy […]
Cambodia attracted 6 million international tourists during the first element months of 2024, a year-on-year increase of 22 percent, a report released by the Ministry of Tourism showed on Monday. According to the report, Thailand emerged as the top source market for foreign tourist arrivals in Cambodia from January to November with 1.91 million visitors, […]
This year’s passenger traffic at Larnaca and Paphos airports has exceeded 12 million people, Hermes Airports has said. “A new historical milestone has been achieved for the international airports of Larnaca and Paphos, as today, Friday, 20 December, passenger traffic exceeded 12 million total passengers for the first time,” Hermes noted in a press release […]
The Turnover Value Index of Wholesale Trade and of trade/repair of motor vehicles during the third quarter of 2024 recorded an increase of 4.6% compared to the corresponding quarter of the previous year. According to figures released by CySTAT, for the same quarter, the Turnover Value Index of Sales and Repair of Motor Vehicles recorded an increase […]
Cyprus has pledged €7.16 million to the International Development Association (IDA) during a meeting held in Seoul, South Korea, on December 5, 2024. The commitment is part of a broader fundraising initiative for the 21st replenishment of the organisation’s resources. According to a statement, a representative of Cyprus announced the country’s contribution in an online […]
Invest Cyprus on Monday announced the signing of a memorandum of understanding (MoU) with the Cyprus Space Exploration Organisation (CSEO). The agency, tasked with the purpose of driving foreign investment to Cyprus, said that the MoU represents “another significant step into the space age” for the island. “This collaboration strengthens Cyprus’ position as an international hub for innovation, investment, and […]
The investment climate in Cambodia is showing significant growth in 2024, with promising opportunities and positive growth trends in the coming years, said Sun Chanthol, Deputy Prime Minister and First Vice Chairman of the Council for the Development of Cambodia (CDC). Chanthol confirmed this during a meeting of the Coordinating Committee for the Government-Private Sector […]
Phnom Penh, 21 December 2024: The Ministry of Foreign Affairs and International Cooperation announced that Cambodia has been elected to the Organizational Committee of the United Nations Peacebuilding Commission (OCPBC) for the 2025-2026 term. This decision was made during the 54th Plenary Meeting of the United Nations General Assembly on 19 December 2024, in New […]
Tourist arrivals in Limassol are rising, offsetting the loss of the Russian market, according to Anthi Theocharous, VP of Tourism at the Limassol Chamber of Commerce (Evel). “Limassol absorbed a large percentage of the approximately 800,000 Russian arrivals annually in Cyprus,” Theocharous said. She added that “it is very encouraging that this loss has been […]
Phnom Penh: The Council for the Development of Cambodia (CDC) is in the process of developing a Three-Year Investment Promotion Strategy aimed at fostering an attractive investment climate and enhancing the country’s competitiveness within Southeast Asia. During a high-level meeting held at the CDC’s headquarters in Phnom Penh on December 18, Mr. Sun Chanthol, Deputy […]
In recent years, Cyprus has been positioning itself as a model of economic resilience and opportunity in the Eastern Mediterranean, achieving remarkable milestones in 2024 that solidify its position as a thriving investment destination. Projected to achieve the third-highest growth rate in the eurozone, we’ve coupled this progress with a decline in inflation and an […]
The Central Bank of Cyprus (CBC) has revised its GDP growth forecast for 2024 upwards by 0.2 percentage points, now expecting growth of 3.7 per cent. The revision is attributed to stronger domestic demand, with private consumption playing a central role, supported by the ongoing resilience of the Cypriot economy. However, the CBC also revised its forecasts for 2025-2026 downwards, due to increased imports required to meet the higher domestic demand. […]
Cyprus’ adoption of the 15 per cent minimum tax for multinationals entails both challenges and opportunities, according to Stelios Violaris, Tax Advisory Services Partner at PwC Cyprus. Violaris also highlighted the fact that approving the new law is beneficial to Cyprus’ image, helping to attract new multinational groups, while also generating more tax revenue for the state. The […]
The newly-built Dara Sakor International Airport in southwest Cambodia’s Koh Kong province is set to begin operations for domestic charter flights next week, a civil aviation spokesperson said on Friday. Cambodian State Secretariat of Civil Aviation (SSCA)’s Undersecretary of State and Spokesperson Sinn Chanserey Vutha said the first domestic test flight will be held between […]
According to a report released on Dec. 20, the Council for the Development of Cambodia (CDC) approved 414 investment projects in 2024, up 54 per cent from 268 projects last year. The report added that the approved investment projects had a total investment capital of $6,900 million, up 40 per cent from $4,927 million in […]
The Ministry of Agriculture, Forestry and Fisheries (MAFF) will continue to collaborate with the Food and Agriculture Organisation (FAO) next year to implement the Agricultural Development Linking Investment to Trade (CAFE-2025) programme. Promoting investment in Cambodia’s agricultural sector to the international market and investment in Cambodia’s potential agricultural products with effective efficiency. In a working […]