Moody’s maintains sovereign debt rating
Global credit rating agency Moody’s Investors Services has maintained Cambodia’s B2/stable sovereign rating, stating in its latest credit opinion on the Cambodian government that the rating was underpinned by the Kingdom’s credit strengths, specifically its healthy growth prospects and a stable external payments position. ...
A few hurdles still block path to joining global value chains
The government needs to urgently amend its industrial development policy to spur the inclusive growth of small- and medium-size enterprises (SMEs) and develop a national logistics platform to cut onerous shipping costs if Cambodia is to find a place in global value chains, panellists at ...
NBC survey shows riel perceptions
The central bank released its first-ever national study yesterday on perceptions and usage of the riel and foreign currencies in Cambodia, which aimed at not only understanding existing trends, but also at steering future financial legislation to boost the circulation of Cambodia’s national currency. ...
Kali Kotoski and Hor Kimsay
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 ...
Exports to Japan rise sharply
Cambodia’s total exports of garments and footwear to Japan increased sharply in the first half of the year, according to latest figures from the Japan External Trade Organization (JETRO). ...
Government remains optimistic on economic growth
The government yesterday slightly lowered its growth forecast for this year – from 7 to 6.9 percent – citing slowing growth in China and Europe as well as the appreciation of the US dollar as the reasons for the cut. ...
Exports to Japan see a big jump
Cambodia’s exports to Japan increased sharply by 39 per cent over the first three months of 2014 compared to the same period last year, according to data from the Japan External Trade Organization (JETRO). Total exports reached more than $178 million at the end of March, ...
Country’s first Japanese news website launched
Thmey Thmey online news website on Wednesday launched a Japanese-language version of the site to help illuminate the world of Cambodian politics and business for Japanese residents here, as well as those considering relocating or investing in the country. The news site, which was set up ...
Hul Reaksmey and Simon Henderson
Trade deficit prompts call to diversify exports
Cambodia’s trade deficit expanded to almost half a billion dollars during the first three months of the year, according to the latest figures from the Ministry of Commerce. Between January and March, Cambodia’s exports reached $1.99 billion, up 19 per cent compared to the same period ...
S&P reaffirms rating despite political worry
Cambodia has retained its B credit rating despite ratings company Standard & Poor’s citing the country’s ongoing political standoff as a “major” constraint. S&P affirmed Cambodia’s B/B credit rating last week, labeling the country as having a strong and stable long-term and short-term outlook. Engagement of international ...
Cambodia to feel an energy crunch, but growth to remain stable: report
Energy demand in Southeast Asia is expected to increase by more than 80 per cent by 2035, fuelling some $240 billion in oil spending, a new report from the International Atomic Energy Association (IAEA) shows. In its “Southeast Asia Energy Outlook” published yesterday, the Paris-based IAEA ...
City poised for shopping mall boom
After spending $30 on clothes, Chan Pheavy sat down for lunch in the food court of Sorya Mall, plunking her shopping bags on the floor beside her. “It is very comfortable to do shopping here,” Pheavy, 25, who works for a commercial bank in Phnom ...
Fear keeps workers at home
When the garment factory that employs her opened its doors yesterday for the first time since Sunday’s election, Chan Neoun was about 130 kilometres away, at home in Svay Rieng province. Intense rioting and a military crackdown were just some of the rumours flying around ...
Trading Floor Silent Two Years After CSX Launch
It is almost two years to the day since Cambodia’s stock market launched in Phnom Penh in front of proud government officials, senior financiers and eager investors from across the region. Initial expectations were that a total of three state-owned firms would be listed within six ...
Hul Reaksmey and Alex Willemyns
Tax revenues rise, but aren’t reflective of overall GDP growth
While the country’s tax revenue grew about 20 per cent in the first half of this year compared to the same period in 2012, experts say the amount still isn’t high enough to accurately reflect the country’s GDP growth. Stephen Higgins, former CEO of ANZ ...
Gov’t revenues rise 11 pct
Government revenues totalled more than $700 million over the first four months of the year, an 11 per cent year-on-year increase, data from the Ministry of Economy and Finance (MEF) show. In total, the revenue made by the General Department of Taxation (GDT) rose by about ...
Robust Recovery Continues
Cambodia’s economy is on track to maintain its robust recovery thanks to a cocktail of private sector and government efforts. In 2012, the Asian Development Bank estimated that gross domestic product grew at a rate of 7.2 per cent, an increase from a 2011 International ...
Room for Improvement in Cambodia’s Bank Sector
While Cambodia has made considerable strides in its banking sector, it still lags behind countries in the region in the areas of e-banking and access to services, industry experts attending the Fifth Banking and Microfinance Conference at the Intercontinental Hotel in Phnom Penh said yesterday. ...
Electricity co-operation crucial
Co-operation on the exchange of electricity will be very important in making the 10-country ASEAN bloc move forward to a single market by 2015, experts said, but a shortage of power supply in each country remains a challenge. Speaking to reporters yesterday after the opening of ...
Cambodia gets rolling
The small but sleek Angkor Car can easily navigate the narrow streets of Cambodia, while with an electric engine saves on expensive fuel costs. It may cost $10,000 per vehicle, a bit steep for most local people, but the vehicle is a welcome testimony to ...