News

The Asian Development Bank (ADB) yesterday revised its prediction for economic growth in Cambodia down to 6.5 percent as it warned that weakening demand from markets in the US and Europe could affect exports leaving the country. The ADB’s biannual outlook report for 2012 also said ...

As Europe continues to navigate its way through a two-year debt crisis, EU Trade Commissioner Karel De Gucht yesterday sought to put Europe at the center of Southeast Asia’s future at the EU-Asean Business Summit in Phnom Penh, and urged EU investors to take advantage ...

A shortage of workers, particularly those with skills, is the biggest threat to economic growth in Cambodia today, Sok Chenda, secretary general of the Council for the Development of Cambodia (CDC), said yesterday. Speaking at the Greater Mekong Subregion Investment Policy Forum organized by the Organization ...

Visiting Australian Foreign Minister Bob Carr on Monday praised Cambodia for its rapid economic growth in recent years and political stability. Bob Carr said that Australian Development Assistance Program has allocated 77 million U.S. dollars to Cambodia in 2011-2012, focusing on agriculture development, health, services, infrastructure ...

Prime Minister Hun Sen yesterday outlined the government’s plans to spur economic growth in the northeast of the country through implementing a wide range of projects in sectors such as agriculture and the extractive industries. Rights workers have warned that little information on the plans for ...

Fifteen foreign investments worth $344 million were approved by the government’s investment board in October, most of which were in the garment industry, according to data obtained this week ...

New policies in agriculture, real estate and finance led the Asian Development Bank (ADB) yesterday to keep its outlook on Cambodia’s economic growth this year at an estimated 6.8 percent. The announcement comes even as the World Bank and the government have reduced their expectations, projecting ...

Ratings agency Moody’s kept the outlook on Cambodia’s government debt at stable, though the firm said that the risk of default was still high and had raised concerns over the country’s ability to manage its finances. In a report released on Sunday, Moody’s said that Cambodia’s ...

Devastating floods as well as the economic slowdown in Europe and the US have prompted the World Bank to lower its outlook for Cambodia’s economic growth this year to 6 percent, down from a previous projection of 6.8 percent. In its economic update for the region ...

An Australian national airline would launch daily direct flights between Cambodia and Australia early next year, the Secretariat of State of Civil Aviation said yesterday. The airline had conducted a feasibility study and a market survey in co-operation with a Cambodian technical team, Long Chheng, deputy ...

Economic growth in Cambodia is being hampered by poor sanitation and hygiene, and rising food prices are leaving people struggling to afford basic produce for a balanced diet, according to a report released yesterday by the UN Development Program (UNDP). The UNDP’s 2011 Human Development Report ...

The total value of approved construction projects in the Kingdom soared 97 per cent year-on-year through September, according to official figures, reaching nearly US$1 billion. The number of projects fell to 1,689 for the first nine months of 2011, down from 1,718 in the same period ...

Cambodian officials say the country’s economic growth rate is set to exceed seven percent this year. According to financial analysts even if the global economy slows, Cambodia is well prepared to deal with it, partly because of strong foreign investment. But the billions of dollars ...

In the past month, ratings agency Moody’s has downgraded its outlook for two of Cambodia’s largest commercial banks. On September 2, Acleda Bank’s performance outlook went from “stable” to “negative” due to risks associated with rapid credit growth and a drain on local currency by depositors. ...

The International Monetary Fund yesterday estimated that economic growth in Cambodia would reach 6.7 percent this year, though it warned that a slowdown in the US and Europe could lead to a dip in the economy. In its world economic outlook, the IMF also predicted that ...

Cambodia’s economic growth could surpass previous estimates and hit 8.7% this year, Prime Minister Hun Sen said in a speech yesterday. Earlier government forecasts estimated growth of 6% for 2011, though increasing garment exports and a strong recovery in the tourism sector have stimulated the economy ...

The Consumer Price Index increased by a total of 7.1 percent in June 2011 compared to the same period last year at the same time. Ministry of Economy and Finance expects that inflation would go down to 6.5 percent at the end of this year ...

As Cambodian exports continue to grow, commerce officials predict sovereign debt crises in the United States and Europe will not threaten the sector. Total exports surged by more than 46 per cent to US$2.677 billion in the first seven months of the year, compared to ...

The China National Food Industry (Group) and Cambodia’s Le Ye Rubber on August 13th signed a Memorandum of Understanding on a cooperation agreement to acquire one million cassava product exports from Cambodia to China Cai Yong Feng [President of China National Food Industry Group] said: ...

The relations between People’s Republic of China and Cambodia have become closer in the way of culture, in which China is the most important strategic development partner in improving Cambodia’s economic growth through both financial and technical grant aids,” Mr. Eang Sophalet, assistant to Samdech ...

According to the statement from the national bank of Cambodia (NBC), the country’s international reserves increased by 2.912 million US dollars so far this year with guaranteeing to import for four months. “For the management of the international reserves, we have implemented the policy with ...

Cambodia’s economic growth has been on the rise following the global downturn on 2008-2009 and experts say that the private sector is largely responsible for that growth. However, those same experts also acknowledge that the profits generated by companies operating in Cambodia aren’t trickling down ...

LAHORE: The first Honorary Consul General of Cambodia in Pakistan, Chaudhry Salik Hussain, has said that the Pakistan-Cambodia Business Council will soon be established for cooperation between both the countries. Speaking at the inaugural ceremony of the Cambodian Consulate in Pakistan here on Sunday, he said ...

Cambodia on July 28th hosted the 3rd Greater Mekong Sub- Region Environment Ministers to look forward to sustainable economic development in the region and to talk about current projects to reduce harm for regions and also to minimize several environmental challenges affecting natural resources, forest and ...