News

Kingdom set to diversify economy as Covid bites

Cambodia is moving towards developing non-textile industries with a policy calling for sustainable growth and economic diversification. To ensure progress, the government will continue implementation of the Cambodia Industrial Development Policy 2015-2025, said a press release on the results of a Cabinet meeting chaired by Prime ...

Thou Vireak
https://www.phnompenhpost.com/business/kingdom-set-diversify-economy-covid-bites

Kingdom casts it export net wider to mitigate exit of major US and EU markets

Due to COVID-19’s devastating economic effect causing the collapse of Cambodia’s two major export markets, the United States and the European Union, representing about 75 percent of total market share, is forcing a refocus on expanding the Kingdom’s highly concentrated export market. ...

Harrison White
https://www.khmertimeskh.com/50712402/kingdom-casts-it-export-net-wider-to-mitigate-exit-of-major-us-and-eu-markets/

Cambodia faces further economic headwinds with AMRO downgrading economic growth to 2.7 Percent

The ASEAN+3 Macroeconomic Research Office (AMRO), in its release revealed the shared common situation of the ASEAN + 3 nations economic growth prospects for this and next year amid headinds caused by the Covid-19 pandemic. ...

Khmer Times Staff
https://www.khmertimeskh.com/50710810/cambodia-faces-further-economic-headwinds-with-mro-downgrading-economic-growth-to-2-7-percent/

Kingdom’s economic growth may be lower than previous prediction

Cambodia’s economic growth in 2020 would not be at the same rate as previously predicted at 6.5 percent, said Prime Minister Hun Sen. ...

Khan Sophirom
https://www.khmertimeskh.com/50695340/kingdoms-economic-growth-may-be-lower-than-previous-prediction

PM: Economic growth hampered by Covid-19

Prime Minister Hun Sen on Tuesday reiterated that the Kingdom’s projected economic growth of 6.5 per cent will be hit hard by the Coronavirus outbreak, and not because of the EU’s partial withdrawal of the ‘Everything But Arms’ (EBA) scheme. ...

Niem Chheng
https://www.phnompenhpost.com/national-politics/pm-economic-growth-hampered-covid-19

Growth forecast falls to 6.5% as gov’t eyes more exports to US

The government downgraded its economic growth forecast for this year to 6.1 per cent from its earlier 6.5 per cent projection, Ministry of Economy and Finance undersecretary of state Phan Phalla said on Thursday. Speaking at a public forum on Macroeconomic Management and Budget Law ...

May Kunmakara
https://www.phnompenhpost.com/business/growth-forecast-falls-65-govt-eyes-more-exports-us

PM: ‘Peace and stability the bedrock of growth’

Prime Minister Hun Sen, speaking to thousands of Cambodian People’s Party faithful who had congregated on Koh Pich to commemorate the 41st Victory Day on Tuesday, said peace and political stability was the bedrock of Cambodia’s 7.1 per cent economic growth. Low inflation, a stable ...

May Kunmakara
https://www.phnompenhpost.com/business/pm-peace-and-stability-bedrock-growth

Executive outlook for 2020

Despite internal and external challenges, the Cambodian economy reached even greater heights last year, with the government reporting economic growth of 7.1 per cent – the highest in the Asean region. However, China-US trade tensions and protectionist policies remain obstacles, with the government forecasting 6.5 ...

May Kunmakara
https://www.phnompenhpost.com/business/executive-outlook-2020

Hun Sen: Kingdom’s economy to grow 7.1%

Cambodia’s economic growth is projected at 7.1 per cent this year or about $24 billion thanks to the good performance of the industrial sector that is creating strong domestic revenue. Speaking at the graduation ceremony of Cambodia University of Specialties on Wednesday, Prime Minister Hun ...

Thou Vireak
https://www.phnompenhpost.com/business/hun-sen-kingdoms-economy-grow-71

Subsidies spark cheaper energy

Cambodia plans to spend more than $100 million on subsidies by 2021 to reduce electricity tariffs in a move to spur economic growth and relieve the financial burden on businesses and households, a senior government official said. Electricite du Cambodge (EdC) director-general Keo Ratanak told reporters ...

Thou Vireak
https://www.phnompenhpost.com/business/subsidies-spark-cheaper-energy

Ministry says economic growth has benefitted people equitably

The strong economic growth Cambodia has experienced in the last few decades has benefitted everyone and created opportunities for all, a high-ranking government official said yesterday. ...

Chea Vannak
https://www.khmertimeskh.com/50665228/ministry-says-economic-growth-has-benefitted-people-equitably/

National economy experiencing robust growth: WB

The bank’s Cambodia Economic Update Report released yesterday said that Cambodia’s real growth of Gross Domestic Product (GDP) is forecast to decelerate to 7 percent in 2019, down from 7.5 percent in 2018.​ ...

Sok Chan
https://www.khmertimeskh.com/50664637/national-economy-experiencing-robust-growth-wb/

Experts address urbanisation planning

Cambodia should prioritise managed urban development to maximise economic growth and cope with the increase in population, industry insiders said yesterday. ...

Chea Vannak
https://www.khmertimeskh.com/50664638/experts-address-urbanisation-planning/

IMF: Cambodia’s economic growth to be highest in Asean

Cambodia’s economic growth is projected to be highest in the Asean region despite facing several challenges, the International Monetary Fund (IMF) said. In its latest Regional Economy Outlook published on Tuesday, the IMF predicts that the Kingdom’s economic growth will remain strong at seven per ...

Sorn Sarath
https://www.phnompenhpost.com/business/imf-cambodias-economic-growth-be-highest-asean

Climate change to delay Kingdom’s ascent to middle-income economy

Climate change will slow down Cambodia’s economic growth progressively over the next decades and delay the country’s graduation to middle-income economy by one year, recent government reports show. The ministries of Economy and Finance and Environment on Friday launched two research papers: ‘Addressing Climate Change Impacts ...

Sok Chan
https://www.khmertimeskh.com/50648301/climate-change-to-delay-kingdoms-ascent-to-middle-income-economy/

Economic growth may slow to 6.5% due to EBA, global risks

The government has predicted that Cambodia’s economic growth will decline to 6.5 per cent next year – down from 7.1 per cent this year – due to global challenges and the possible withdrawal of the EU’s “Everything But Arms” trade agreement. The prediction was made ...

Niem Chheng
https://www.phnompenhpost.com/national/economic-growth-may-slow-65-due-eba-global-risks

NBC projects real economic growth at 7 pct this year

The National Bank of Cambodia (NBC) said in its mid-year report the country’s real economic growth will average seven percent this year, with strong contribution from the agricultural, industrial and services sectors. ...

Sok Chan
https://www.khmertimeskh.com/50511987/nbc-projects-real-economic-growth-at-7-pct-this-year/

IMF predicts slowdown on horizon for growth figures

Cambodia’s economic growth will remain on course this year but will likely slow in the coming years to 6 percent as investment tapers off and credit growth tightens, according to an updated note by the International Monetary Fund (IMF) released on Friday. ...

Post Staff
http://www.phnompenhpost.com/business/imf-predicts-slowdown-horizon-growth-figures

Economy still on track: World Bank

Despite better than predicted overall growth for global economies, the World Bank has slightly downgraded its 2017 forecast for Cambodia due to wage and price concerns in the Kingdom’s the garment industry as well as uncertainty surrounding next year’s national election. ...

Kali Kotoski
http://www.phnompenhpost.com/business/economy-still-track-world-bank

AMRO forsees stable growth ahead

Cambodia’s economic growth is expected to remain stable this year with inflation rising slightly on increases in the costs of global fuel and food prices, the Asean+3 Macroeconomic Research Office (AMRO) concluded following its annual consultation visit to the Kingdom. ...

Kali Kotoski
http://www.phnompenhpost.com/business/amro-forsees-stable-growth-ahead

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