Cambodian banks might see growth of around 10 percent in 2024, said bankers. Industry insiders say that the banking growth of the past of 20 percent is no longer possible. “Given it’s relatively large base, growth numbers going forward should be around 10 percent or around two times of GDP growth rate, reflecting the level […]
Phnom Penh, June 11, 2024: The Council for the Development of Cambodia sanctioned 24 new investment projects and one expansion in May 2024, channeling more than $246 million into the economy and potentially creating approximately 15,000 jobs, as announced in a June 10 press release. Among these, 17 projects are situated outside special economic zones […]
The Council for the Development of Cambodia (CDC) approved 153 projects worth approximately $2.75 billion in the first five months of 2024, reaching over 55 percent of the total investment capital in 2023 which recorded $4.92 billion. The CDC’s latest report showed that it okayed 24 new projects and one expansion project with investment capital […]
Despite the partial loss of preferential trade tariffs under the Everything But Arms (EBA) scheme, Cambodia’s trade with the European Union (EU) continues to surge, with exports to the bloc recording $1.56 billion in the first five months of 2024. According to a report from the Ministry of Commerce, Cambodia’s exports to the EU during […]
In the first four months of 2024, more than 2 million air passengers passed through international airports, said a senior official of the State Secretariat of Civil Aviation (SSCA). Mao Havannal, Minister in Charge of State Secretariat of Civil Aviation, divulged this during an inspection visit to under-construction Techo International Airport late last week. “The […]
The European Central Bank’s (ECB) decision to cut interest rates by 0.25 per cent on Thursday is expected to have a positive impact on the Cypriot economy, Professor Sofronis Clerides, Dean of the Faculty of Economics and Management at the University of Cyprus, said on Friday. Speaking to the Cyprus News Agency (CNA), Clerides highlighted that a […]
The number of building permits issued in Cyprus increased by 3.3 per cent year-on-year for the period of January to March 2024, with the value of these permits rising to €0.73 billion, marking a 13.2 per cent annual increase. According to a report released on Friday from the Cyprus Statistical Service (Cystat), the total number of building permits in […]
The Ministry of Transport, Communications and Works has announced that May 2024 passenger traffic at the airports in Larnaca and Paphos amounted to 1,140,659 passengers. This marks an increase of 4.26% compared to the same month in 2023. The total traffic at the airport in Larnaca showed an increase of +4.3%, while the corresponding traffic […]
PHNOM PENH, June 7, 2024 – Mr. Kelvin K. Mo, head of the Cambodian Chamber of Commerce in Montreal, led a Canadian delegation to Phnom Penh to explore investment opportunities in Cambodia. The group was hosted by the Council for the Development of Cambodia (CDC) on June 5. Nut Unvoanra, Deputy Secretary General of the […]
Cambodia exported $4.969 billion worth of garments, footwear and travel goods (GFTs) in the first five months of 2024, up 20 percent from $4,129 million over the same period last year, said a Ministry of Commerce’s report released on Sunday. The report said apparel and textiles accounted for $3.628 billion during the January-May period this […]
Minister of Tourism Sok Soken visited the Siem Reap Provincial Department of Tourism on Saturday and discussed crucial aspects of the master plan for Tourism Development in Siem Reap Province 2021-2035. The Tourism Master Plan was launched back in October 2021 for the years up to 2035. The main aim of the strategy was to […]
Expanding market, increasing production capacity and high quality standards will help Cambodia to achieve its one million tonne milled rice export target by 2025, said Cambodia Rice Federation President Chan Sokheang. With the export strategy focused on market expansion, raising production and storage capacity and elevating rice quality standards, the ambitious target of a million-tonne […]
Cambodia’s aviation industry continues its strong rebound, with 2 million passengers passing through its international airports this year’s first five months. This figure marks a significant increase of 25 percent compared to the same period in 2023. “The figures are a testament to the recovery of Cambodia’s aviation industry from the Covid-19 pandemic and proudly […]
AK Cambodia’s Minister of Commerce, Cham Nimul, promoted potential investment opportunities in Cambodia at the 2024 JCI ASPAC (Junior Chamber International Asia and Pacific) Business Dialogue and Matching event held in Siem Reap provincial city on June 8. The event was held under the topic “Business Opportunities in Cambodia,” with the co-chair of Sok Soken, […]
In the first five months of this year, Cambodia exported more than US$10 billion of major goods, up by 10.88%, while imports amounted to more than US$11 billion, up by 13.6% compared to the same period last year, this is according to the report of the Ministry of Commerce. Cambodia is the largest exporter to […]
PHNOM PENH, June 7, 2024 – According to the latest report from the Cambodia Rice Federation (CRF), the country’s rice exports saw a significant increase in the first five months of the year, totaling 302,592 tonnes, an 8.7 percent rise from 278,184 tonnes during the same period in the previous year. The revenue from milled […]