News

Cambodia could reap even greater benefits from trade facilitation measures in the Greater Mekong Subregion (GMS) by removing high logistics costs, delays and other barriers that hamper the country’s connectivity and competitiveness, according to a new Asian Development Bank (ADB) book released here on Thursday. “Cambodia’s ...

The Asia Development Bank‘s Cambodia Resident Mission has appointed Eric Sidgwick as its new country director. Sidgwick aims to focus his efforts on promoting an inclusive and environmentally sustainable growth, said a press release issued by the Asia Development Bank (ADB) yesterday. Sidgwick started working at the ...

Cambodia’s service sector has seen significant growth in recent years, but the sector remains hampered by challenges, according to a report by the Asian Development Bank (ADB). The service sector’s real GDP share has expanded to 39 per cent in 2011, compared to 23.7 per cent ...

Import and export companies in Cambodia believe that high costs stemming from burdensome bureaucracy and poor infrastructure are putting them at a disadvantage compared to other firms transporting goods in the region, according to a recently released report by the Asian Development Bank. Surveying 39 export companies from the ...

The International Monetary Fund (IMF) projected that Cambodia will have a very low inflationary rate to 3.5 per cent this year, which is 0.1 per cent below the goverment’s new revision but 0.5 per cent higher than the Asian Development Bank (ADB). Cambodia’s government in August also revised inflation ...

The Asia Development Bank has revised its growth expectations for the entire region down to 6.1 per cent for 2012 in an update to its annual development outlook released in April. This revision comes after the IMF increased GDP projections for Cambodia to up to 7 per ...

The Asian Development Bank (ADB) slashed Cambodia’s GDP growth to 6.4 percent this year, 0.1 percentage point lower than its April’s forecast of 6.5 percent, according to the bank’s Outlook 2012 Update released on Wednesday The bank predicted that Cambodia’s gross domestic product to grow by ...

The slump in global markets has depressed demand for Cambodian products, leading to reduced growth forecasts by the Asian Development Bank (ADB) for 2012 and 2013. “Falling global demand, especially in Europe and the US, means that the industry sector will grow at a slower pace ...

A day after the International Monetary Fund (IMF) notched up its forecast for Cambodia’s economy this year, the Asian Development Bank (ADB) yesterday revised its own estimation down slightly, to 6.4 percent. The ADB’s estimation was edged down just 0.1 percent from its last forecast made ...

Representatives of Cambodia’s booming tourism industry yesterday called on the Asian Development Bank to provide funding for workforce training in the sector. During the meeting at the Cambodia Chamber of Commerce, tour operator Ho Vandy, who also co-chairs the Tourism Working Group in the Government-Private Sector Forum, said representatives ...

Rita O’ Sullivan, ADB Country Director Tourism is a dynamic component in the economic sector. In the Greater Mekong Sub Region – Thailand, Myanmar, Laos and Cambodia – bound together by the Mekong River, the tourism industry is a driving force, says Rita O’ Sullivan, ...

The Asian Development Bank (ADB) is pushing forward with the US$67 million flood reconstruction project aimed at rebuilding roads,bridges and irrigation systems hit by the devastating high waters of 2011, improving the nation’s infrastructure and providing livelihoods to people in six severely affected provinces, according ...

ADB (Asian development bank) pledged to offer $55 million loan for infrastructure restoration from flood damage last year in Cambodia. At the same time, AusAid also offered 5.25 million US dollars, and the Cambodian government will spend 6.39 million US dollars for the whole infrastructure ...

As much as local people are benefiting from the Asian Development Bank’s (ADB) recovery project following last year’s record floods, they aren’t receiving all the benefits they could, according to some accounts. Operating in five provinces of Cambodia to restore road access to those affected by the floods, ...

Families have fallen into poverty and children have dropped out of school due to deficiencies in the Asian Development Bank’s rehabilitation of Cambodia’s railway system, according to a complaint filed to the bank’s compliance review department. According to David Pred, managing associate for NGO Inclusive Development International, ...

A breached flood protection dyke near Prey Ven city that, had it burst during the disastrous 2011 flooding, would have added a further 30,000 to the almost 52,000 households evacuated, is one project nearing completion in Cambodia’s Flood Damage Emergency Reconstruction Project. But the Asian Development ...

India is financing the construction of a US$70 million transmission line to bring electricity from hydroelectric projects in Laos to Cambodia, according to Indian Chamber of Commerce President Debasish Pattnaik. Speaking yesterday after the official launch of the Indian Chamber of Commerce in Cambodia (ICC), Pattnaik ...

Although the Cambodian government has projected Gross Domestic Product (GDP) of around 7 percent this year, a bit higher than come other international financial organizations like the Asian Development Bank (ADB) and the International Monetary Fund (IMF), it does not mean that the country’s projection could not ...

Poipet City authorities have given dozens of families living along a section of railway slated for renovation 10 days to move or face forcible eviction. Poipet City Deputy Governor An Vanak said that the eviction notice was sent Monday to about 40 families, only eight of ...

Access to the region’s largest collective financial resource, the ASEAN Infrastructure Fund, could be easier than expected for Cambodia, according to an Asian Development Bank economist. Initiated in May, the fund is expected to lend up to US$4 billion and leverage up to $13 billion for ...

Cambodia and Thailand are poised for a boost in trade and tourism following a new agreement taking effect today that simplifies procedures at a key border crossing between the two nations. “The ability to move people, goods, and vehicles across borders efficiently and responsibly is at the heart of regional economic integration,” said Craig Steffensen, ...

Poipet – Thailand and Cambodia on Thursday launched direct bus services linking Bangkok and Phnom Penh via the Aranyaprathet-Poipet border crossing, aiming to cut transportation costs, MOCT reported on June 15. Transport Minister Jarupong Ruangsuwan and Cambodian Public Works and Transport Minister Tram Iv Tek and representatives of the Asian Development Bank (ADB) co-presided at the ...

Cambodia was in discussions with the Chinese government on funding for a 250-kilometre stretch of rail line between Phnom Penh and Vietnam, in what Cambodian officials yesterday called a move away from a “complicated” Asian Development Bank loan. Va Sim Sorya, director general at the Ministry ...

The Credit Guarantee and Investment Facility (CGIF), an agency set up by Asean+3 and the Asian Development Bank to help develop local-currency bond and cross-border bond markets in the region, has started to operate, says chief executive Kiyoshi Nishimura. He said the CGIF will fill in ...