Cambodia on Monday proposed Spain to consider entering into a bilateral treaty aimed at facilitating investment and strengthen business interaction. Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the Council for the Development of Cambodia (CDC) told Maria Amparo López Senovilla, Secretary of State of the Ministry of Economy and Competitiveness (MINECO) of Spain […]
Hellenic Bank actively supports various initiatives to enhance financial literacy, including the ‘Financial Alphabet’ programme, the final event of which was hosted at the bank’s headquarters in Nicosia. According to a statement released on Monday by Hellenic Bank, the ‘Financial Alphabet’ educational programme was implemented in Cyprus by ActionAid Hellas, with funding from the European […]
Revenue from tourism reached an estimated €223.3m in January–March 2024, rising 11.7% compared to €200m in the first quarter of 2023, Cystat said. Based on the results of its Passengers Survey, in March, revenue from tourism reached €113m, compared to €97.8m in the corresponding month of 2023, recording an increase of 15.5%. The average expenditure […]
The share of hybrid cars rose from 26.6% to 37.3% during the period of January-May 2024, compared to the same period of 2023, according to Cystat. At the same time, the share of petrol powered passenger cars dropped to 49.3%, from 60.8% in the corresponding period of 2023. The total registrations of motor vehicles during […]
Total Employment for the first quarter of 2024 is estimated at 474,587 persons, marking an annual increase of 2.2%, data published by CySTAT show. According to CySTAT, of the total 474,587 persons, 425,090 were employees and 49,497 were self-employed. The most significant percentage increases were observed in the economic activities of Administrative and Supporting Service […]
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 […]