Kiripost

Investment in the financial sector declined by 28.7 percent in 2023, despite an increase in foreign direct investment (FDI) of 14.5 percent, according to the National Bank of Cambodia’s (NBC) 2023 annual report. ...

Following the pandemic, economic growth has been steady, the International Monetary Fund (IMF) said, with expansion projected at six percent in 2024, from an estimated 5.3 percent last year, thanks to tourism and non-garment exports. ...

Cambodia must ensure that the draft cybersecurity law is kept “business-friendly” to prevent driving out international companies and discouraging new overseas investment in the nation, according to an expert. ...

The National Bank of Cambodia (NBC) and Ministry of Education have signed a Memorandum of Understanding (MoU) to include the third phase of Embedding Financial Literacy into the school curriculum to raise awareness and improve student capability in financial management as the economy evolves. ...

Cambodia lost 31 percent of tree cover from its wildlife sanctuary protected areas between 2001 and 2022, and more than 100,000 hectares (ha) in 2022, equivalent to 1.2 percent, according to a Citizens Engaged in Environmental Justice for All (CEEJA) report.  ...

Cambodians spend approximately $2.3 billion a year on beer, with the average person drinking about 72 liters of beer annually, causing economic experts to claim that reducing beer consumption could cut spending on public health and security. ...

Cambodia has been ranked as the fourth Southeast Asian country to receive aid from China, totalling $17.7 billion, with Indonesia topping the table. ...

Manufacturing, the recovery of Cambodian tourism on the back of regional improvement, and infrastructure development are likely to boost gross domestic product (GDP) growth, projected at 6.4 percent this year, up from 5.5 percent in 2023. ...

The law on Control of Alcohol Products has been in draft for nine years and remains uncertain due to its potential social, economic and political impacts. Experts are now urging the government to accelerate law enforcement on controlling alcohol consumption after recent fatal traffic accidents. ...

Net profit for Phnom Penh Autonomous Port’s (PPAP) financial year ended December 31, 2023 (FY’23) sank 36.2 percent to $9.1 million from $14.3 million a year ago. ...

A study on over 3,200 microfinance borrowers from 450 villages in 10 provinces in the country has revealed that two thirds of them have seen an improvement in their lives, according to the Cambodian Microfinance Association (CMA). ...

Prime Minister Hun Manet has called on National Police Chief, Sar Thet, to tighten laws related to drunk driving and other road regulations to prevent fatal crashes occurring. ...

Calls are being made for tighter restrictions on alcohol advertising and tougher punishments for drunk drivers after four people were left dead and another four injured in the latest fatal smash to plague Cambodia’s roads. ...

On Wednesday, the Council for the Development of Cambodia (CDC) announced the release of 10 investment projects worth $60 million in textile, garment, footwear, and manufacturing industries, creating 12,695 jobs. ...

A national crackdown on illegal goldmines has led to three unauthorized operations being closed in Memot, Tbong Khum province. ...

France has pledged to assist Cambodia with an additional 200 million euros ($217.66 million) to boost vocational training in energy and clean water treatment. ...

A draft law on water transportation has been created to strengthen the sector and find solutions to serve national and international trade, while supporting national economic growth. ...

EuroCham Cambodia has published a guidebook, ‘Alternative Manufacturing and Special Economic Zones Guidebook 2024’, providing insight for entrepreneurs, investors, and industry stakeholders seeking information about Cambodia’s manufacturing sphere. ...

The General Department of Customs and Excise collected approximately $201.4 million of tax revenue in December 2023, which was less than the planned 12.25 percent target. ...

The impact of digital transformation on the European banking sector and the potential for Cambodia to tap into fintech innovations were hot topics of discussion at EuroCham’s latest event. ...

Skills-training center for data science, DataU Academy, has been delivering industry-high demand skills to data enthusiasts, while connecting students with employers, since 2019. ...

Cambodia has unveiled ambitious plans to secure a loan of 1.7 billion in Special Drawing Rights (SDR), or $2.3 billion, in 2024 for the development of key sectors. ...

In 2023, Cambodia exported more than 656,000 tons of milled rice worth $466 million​, marking a three percent growth in volume and 13 percent in value compared with 2022, according to Cambodia Rice Federation (CRF). ...

That is the picture sketched by the World Bank, which forecast Tuesday that the world economy will expand just 2.4% this year. That would be down from 2.6% growth in 2023, 3% in 2022 and a galloping 6.2% in 2021, which reflected the robust recovery ...