The Deputy Ministry of Tourism has introduced the “Historic Hotels of Cyprus” label in a bid to establish the basic characteristics that a hotel or tourist accommodation business must have in order to be classified as a “Historic Hotel”. Through the action, the Deputy Ministry aims to improve the image of Cyprus as a tourist […]
The Cyprus Seeds 2024 Innovation Showcase at the Reflect Festival concluded on 31 May, marking a significant milestone in the advancement of the innovation ecosystem in Cyprus. Held at the Kolla Factory of Culture, the event brought together distinguished speakers, startup investors, world-class mentors, pioneering innovators, and more than 120 participants, creating a platform for […]
In May 2024, the Council for the Development of Cambodia (CDC) approved 24 new projects and one production expansion project with a total investment of more than $246 million, creating about 15,000 jobs. According to a press release issued by the CDC on June 10, of the 25 investment projects, 17 are located outside the […]
Cambodia exported 667,000 tonnes of raw cashew nuts to Việt Nam in the first five months of this year, an increase of 37 per cent over the same period last year, reaching a revenue of $851 million. The Voice of Việt Nam (VOV) online newspaper quoted the chairman of the Cashew Nut Association of Cambodia, […]
Cambodia’s car tire exports have witnessed a remarkable surge in the first five months of 2024, according to data released by the Ministry of Commerce. The country exported a staggering $308 million worth of car tires, reflecting a significant 204 percent increase compared to the $101 million recorded during the same period last year, a […]
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 […]