News

ADB to muscle up its lending with pledge of $1B

Cambodia could receive over $1 billion in developmental aid and grant funding from the Asian Development Bank (ADB) in the coming four years as the multilateral financial institution consolidates its lending arms and scales up operations across the region – a move that some analysts ...

Kali Kotoski
http://www.phnompenhpost.com/business/adb-muscle-its-lending-pledge-1b

World Bank projects​ 7% Cambodian growth rate

The World Bank has projected the Kingdom’s economic growth will reach seven percent this year, slightly up from its 6.9 percent projection in April, due to solid garment exports and a resilient construction sector. The World Bank’s “Cambodia Economic Update October 2016” highlighted solid garment export ...

Sok Chan
http://www.khmertimeskh.com/news/30444/world-bank-projects----7--cambodian-growth-rate/

ADB: GDP to grow 7.1% in 2017

The latest report from the Asian Development Bank (ADB) describes Cambodia’s economic situation in 2016 as “broadly as expected,” as it predicts a slight increase in economic growth of 0.1 percent, to 7.1 percent. Released yesterday, the update to its annual “Asian Development Outlook” for 2016 ...

May Kunmakara
http://www.khmertimeskh.com/news/30245/adb--gdp-to-grow-7-1--in-2017/

Officials discuss future Kep developments

Tourism Ministry officials held a meeting yesterday to discuss a project to develop a tourist port in Kampot province and a planned drainage system for Kep’s Crab Market – two tourism infrastructure projects backed by the Asian Development Bank (ADB). ...

Post Staff
http://www.phnompenhpost.com/business/officials-discuss-future-kep-developments

Railway families still smarting after 2 years

Efforts by the Asian Development Bank (ADB) to restore the living standards of families evicted by its railway rehabilitation project continue to fall far short of expectations, and urgent action is needed if the bank is to comply with its own safeguard policies, according to ...

Zsombor Peter
https://www.cambodiadaily.com/news/railway-families-still-smarting-2-years-116519/

Ministry scolds South Korean firm

Sun Chanthol, senior minister and minister of Public Works and Transport, met with the president of Dansan Consultants on Friday to talk about the lack of safety signs on a construction site on National Road 21 that allegedly caused two deaths in a traffic accident. ...

Tin Sokhavuth
http://www.khmertimeskh.com/news/28162/ministry-scolds-south-korean-firm/

Korean firm violated its contract: Minister

Sun Chanthol, the Minister of Public Works and Transport, said last week that Hanshin Engineering and Construction Company, a Korean firm that won the contract to improve National Road 21, violated the contract with the government by hiring a subcontractor to do the job. ...

Tin Sokhavuth
http://www.khmertimeskh.com/news/27873/korean-firm-violated--its-contract--minister/

Booming growth pushes Cambodia to lower-middle income status

Despite some appearances to the contrary, things in Cambodia are looking pretty rosy at least according to the World Bank. In its latest revision of world economies the Bank raised Cambodia’s status from a low-income economy to a lower-middle income country. ...

Vat Vin
http://aecnewstoday.com/2016/booming-growth-pushes-cambodia-to-lower-middle-income-status/

New weather stations being built in provinces

In an attempt to deliver more accurate weather reporting in the Kingdom, the Ministry of Water Resources and Meteorology has started building 30 additional weather stations throughout the country, according to officials. ...

San Bunsim
http://www.khmertimeskh.com/news/27278/new-weather-stations-being-built-in-provinces/

Railway link on track

Cambodia is committed to complete construction of the 6.5-kilometer cross-border railway linking Poipet city in Banteay Meanchey province to neighboring Thailand’s Sisophon province by the year’s end. ...

Chea Vannak
http://www.khmertimeskh.com/news/27096/railway-link-on-track/

Cambodia's economic status raised to lower-middle income

The World Bank has officially revised the status of Cambodia’s economy, moving it up a rung from the low-income bracket into lower-middle income territory – a reclassification that economists expect will lead to a scale-back of foreign aid and preferential trade access over the coming ...

Cam McGrath and Hor Kimsay
http://www.phnompenhpost.com/business/cambodias-economic-status-raised-lower-middle-income

10% of GDP lost to climate change

Cambodia lost 10 percent of its gross domestic product (GDP) last year to the negative effect of climate change, according to the Asian Development Bank (ADB). In announcing a $96 million package to help the Kingdom cope with the loss of livelihoods and income due to ...

Chea Vannak
http://www.khmertimeskh.com/news/26780/10--of-gdp-lost-to-climate-change/

Angel investors raise hopes for local startups

Seven angel investors descended on Phnom Penh last Friday as part of the launch of a new investment initiative that aims to tap into Cambodia’s growing startup culture and support entrepreneurial endeavours with guidance and early stage risk funding. ...

Kali Kotoski
http://www.phnompenhpost.com/business/angel-investors-raise-hopes-local-startups

Environment focus for UNDP

Monday’s World Environment Day was recognized by the United Nations Development Programme (UNDP) when the organization’s headquarters in Cambodia issued a press release outlining the importance of environmental protection in the Kingdom. ...

Tin Sokhavuth
http://www.khmertimeskh.com/news/25923/environment-focus-for-undp/

IFC banking on smart graduates

The International Finance Corporation (IFC), a member of the World Bank Group, has provided a $13 million loan to support a higher education campus for the Acleda Institute of Business that will help raise education standards, enhance students’ employability and encourage sustainable economic growth. ...

Sum Manet
http://www.khmertimeskh.com/news/25667/ifc-banking-on-smart-graduates/

ADB praises economy

The Asian Development Bank on Monday named Cambodia as the fastest growing economy in Asia in its latest new analysis article titled Here Comes Cambodia: Asia’s New Tiger Economy. ...

May Kunmakara
http://www.khmertimeskh.com/news/24857/adb-praises-economy/

Kingdom's economy to remain stable: ADB

Cambodia’s economy is expected to remain stable this year as uncertainty surrounding China’s economic slowdown appears to ease, and backed primarily by strong performance in garment and footwear manufacturing, as well as construction, the Asian Development Bank (ADB) said yesterday. ...

Kali Kotoski
http://www.phnompenhpost.com/business/kingdoms-economy-remain-stable-adb

Road project ‘mishandled’

A seven-year, multimillion-dollar road rehabilitation project was rated “less than successful” in a report last week by the Asian Development Bank’s Independent Evaluation Department. ...

Alessandro Marazzi Sassoon
http://www.phnompenhpost.com/national/road-project-mishandled

New pier to attract tourists

Kampot province’s City Hall yesterday revealed plans for a new passenger pier to siphon more coastal tourism business from Thailand and Vietnam. Sim Vuthea, administrative director of Kampot City Hall, said the new $40 million passenger pier, which will be funded by the Asian Development Bank ...

Chan Muyhong
http://phnompenhpost.com/business/new-pier-attract-tourists

Donors meet over new civil servant per diems

Cambodia’s international donors met Tuesday to decide whether they will comply with the government’s recent move to increase the per diem that civil servants receive for attending work-related, out-of-office events. In July, Prime Minister Hun Sen signed off on a sub-decree raising the Daily Subsistence Allowance ...

Paula Brito
http://www.cambodiadaily.com/news/donors-meet-over-new-civil-servant-per-diems-72133/

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