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 […]
Cambodian Senate President Hun Sen announced that Japanese ships would be the first to dock at Ream Port upon its completion. On Friday (Dec. 20), Hun Sen received a courtesy call from Akiba Takeo, the National Security Advisor of Japan, at the Senate. On the occasion, Akiba Takeo expressed his deep respect and gratitude to […]
Canada will upgrade its current Office in Phnom Penh to a full embassy with a resident Ambassador, in line with Prime Minister Trudeau’s recent announcement at the 2024 ASEAN Leader’s Summit in Vientiane. According to the Ministry of Foreign Affairs and International Cooperation, the good news was made known through a diplomatic note handed over […]
Prime Minister Hun Manet and also the President of the Council for the Development of Cambodia (CDC), chaired the first meeting at the Peace Palace of the CDC of the 7th mandate this morning. The Council for the Development of Cambodia was established on August 5, 1994, with the mission of attracting investment to Cambodia. […]
Bilateral trade volume between Cambodia and South Korea reached $762 million in 2024, an increase of 11.49 percent compared to the previous year, according to a report from the Ministry of Commerce (MoC), released yesterday. The report said that Cambodia’s exports totaled $288 million in 2024, while imports from Korea were worth $474 million. Cambodia […]