Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou on Thursday set a forward-looking tone at the 3rd CITEA Digital Cyprus Conference, focusing on the potential and strategic importance of both Artificial Intelligence (AI) and data in shaping Cyprus’ digital future. In a virtual address from Athens, Damianou reflected on his participation in a […]
The Cabinet has approved a proposal by Finance Minister Makis Keravnos for the extension of measures to compensate the living costs of Cypriot households. They fall in the framework of targeted measures, taking into account the fiscal conditions and challenges as well as the summer climate conditions on the island, Government Spokesperson Konstantinos Letymbiotis said, following the Cabinet’s […]
The tourism industry is set for a significant boost during the upcoming Festival of the Flood (Kataklysmos) long weekend, with locals and foreign visitors alike expected to take advantage of the favourable weather and extended break. Hotel occupancy rates are projected to surpass 80% nationwide, exceeding 90% in some popular destinations, according to Philokypros Roussounides, […]
AirAsia will fly directly from Kuala Lumpur, Malaysia to Sihanoukville International Airport in July to seize the flow of tourists to Cambodia’s coastal province. According to a statement issued by AirAsia Cambodia on Thursday, the flights will be operated directly from Kuala Lumpur to Sihanoukville from July 3, with three flights per week: Wednesday, Friday […]
Minebea Cambodia, a subsidiary of MinebeaMitsumi, a Japanese precision components manufacturer, will expand its production chain in Cambodia by building its second factory in Pursat province, some 180 km north of Phnom Penh. “Minebea Cambodia will start constructing its second factory in Pursat in September this year,” said Keo Rattanak, the Minister of Mines and […]
President of Cambodia Chamber of Commerce, Kith Meng, called on Singaporean investors to invest in some other untapped potential areas to further build a strong economic tie between the two ASEAN nations. Addressing the Cambodia-Singapore Business Forum in Singapore on Wednesday, Meng, who is also the Chair of ASEAN-BAC Cambodia, said the forum serves to […]
In the near future, the Japanese giant company Minebea Mitsumi will open the construction site of its second factory in Pursat province’s Krakor district, which will create many new jobs for young people in Cambodia. This second factory invests in the power sector. On the official telegram of the Ministry of Mines and Energy on […]
The proposed maritime route linking the Cambodian islands off Sihanoukville with the nearby islands of Thailand and Vietnam may get ready for tests by November and can increase trade, tourism and investment opportunities in the destinations. The proposal has been lined up under the Cambodia, Vietnam, Thailand Economic Corridor (CVTEC) initiative, said Long Dimanche, the […]
The Central Bank of Cyprus has revised its 2024 forecast for GDP growth to 3%, from 2.8% that was expected last March, mainly due to the upward revision of domestic demand, while it maintained its forecast for growth in the years 2025 and 2026, at 3.1% and 3.2%, respectively. According to the CBC’s macroeconomic forecasts (June […]
The EU Cohesion Policy, which finances development projects and reforms in the Member States, invests significantly in the green and digital transition and should respond to its role in ensuring economic, social and territorial cohesion, Finance Minister Makis Keravnos has said. He was speaking during the General Affairs Council of the EU which was dedicated […]
The government extended its anti-inflation package for four months, aiming to ease the burden of rising prices on households and businesses. The Council of Ministers approved the extension on Wednesday. The extended measures include: Government Spokesman Konstantinos Lettymbiotis emphasised the administration’s commitment to responsible fiscal policy while providing targeted support. He highlighted efforts to strengthen […]
The Central Bank of Cyprus has revised its 2024 forecast for GDP growth to 3%, from 2.8% that was expected last March, mainly due to the upward revision of domestic demand, while it maintained its forecast for growth in the years 2025 and 2026, at 3.1% and 3.2%, respectively. According to the CBC’s macroeconomic forecasts (June […]
Cambodia and Singapore still have more room for cooperation for their bilateral benefit, focusing on key potential areas, including vocational training, education, energy security, environmental protection, regional peacekeeping, and regional prosperity. Prime Minister of the Kingdom of Cambodia, Hun Manet, made the remarks while meeting in Singapore this afternoon with Senior Minister Lee Hsien Loong, […]
Cambodia welcome 2.11 million foreign tourists in the first four months of this year, up 23 percent compared to the same period in 2023, according to a Ministry of Tourism’s report. Thailand topped the list of foreign arrivals to Cambodia during the said period with 588,312 visitors, though the figure represents a year-on-year decrease of […]
Prime Minister Hun Manet and Singapore Prime Minister Lawrence Wong have decided to set up a joint working group to promote trade and investment between the two countries and also agreed to operate more direct flights to encourage tourism. The decisions were taken when the two Prime Ministers, accompanied by top officials, met on Tuesday […]
Foreign direct investment (FDI) in Cambodia reached 197.8 trillion riels, ($48.4 billion) between 2018-2023, said the National Bank of Cambodia (NBC) on Tuesday. The NBC said, the main source of FDI inflows was China; which accounted for 45.6 percent of total FDI inflows to the region. The NBC said the sources for this data were […]