News

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. ...

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. ...

Cambodia stands to benefit from an uptick in global and regional economic growth but will need to diversify its economy, improve infrastructure and reduce obstacles to doing business if it is to continue on its impressive growth track, a visiting International Monetary Fund (IMF) official ...

Cambodia’s economic growth remained strong last year though the Kingdom must now address major systemic challenges to build on its ascension into lower-middle income status in order to maintain healthy levels of development, the Asian Development Bank (ADB) said in its annual report yesterday. ...

Hyatt Hotels Corp has announced the opening of the first Park Hyatt in Southeast Asia in Siem Reap. The announcement Wednesday said the reopening of the former Hotel De La Paix in downtown Siem Reap followed a 14-month renovation by award-winning interior designer Bill Bensley. “We are ...

The more Cambodia’s economy grows and the more investors come into Cambodia has had some positive and negative effects, and one of those effects is to push up land prices in Phnom Penh for the first quarter in 2013, an increase of 15 per cent. Sorn ...

Cambodia’s economy would grow by 7.6 percent this year, driven by garment exports, agriculture, tourism and construction, according to a preliminary prediction by the Ministry of Economy and Finance on Wednesday. The ministry said that the GDP volume would be around 15.19 billion U.S. dollars and ...

For the first time in recent memory, the Ministry of Economy and Finance has released growth projections for the first half of the year, and the numbers are good. The ministry’s preliminary data claims that from January through June, economic growth stood at 7.6 per ...

Economic diversification is attracting substantial sums of FDI from China and beyond. Rich in history and culture and blessed with wonderful natural and human resources that are driving its impressive economic growth and attracting record sums of foreign direct investment (FDI), the Kingdom of Cambodia offers ...

The total weight of goods transported through the Sihanoukville Autonomous Port in the first six months of the year was up 15 percent compared with the same period last year, according to figures released Thursday. Some 1.51 million tons of goods passed through the port in ...

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 ...

Cambodia saw a one per cent rise in inflation in April compared with the same month last year, according to the latest data from the National Institute of Statistics (NIS). Sim Ly, an official at the NIS said there was a slight increase in food and ...

As much as $16 billion of investment is needed in Cambodia over the next decade if the country’s infrastructure is to keep up with the pace of economic growth, ac­cording to a regional think tank. At a seminar in Phnom Penh on Thuesday, Jakarta-based Economic Research ...

Thanks to a more stable and undisturbed supply chain, sales of new cars in Cambodia have risen dramatically over the first six months of this year compared with the same period in 2012. But the purchases pale in comparison to the country’s thriving second-hand market. Kong ...

As tensions subside between Thailand and Cambodia over the 11th-century Preah Vihear temple, site officials are welcoming a steady increase of international tourists. At 5,240, foreign visits are up 56 per cent in the first six months of the year, compared to the same period ...

A mid [sic] global economic fragility, foreign direct investment (FDI) in Cambodia grew a whopping 73 per cent in 2012 from the year before, a huge increase helping to fuel a record-setting amount of money pouring into least developed countries, according to the United Nations ...

Cambodia’s largest microfinance institution, (MFI) Prasac, has received a $60.5 million loan to strengthen its capacity in offering broader financial services in the country. On Friday, Prasac signed the agreement for the syndicate loan – provided by more than one lender – with the Netherlands Development ...

Kim Hyun-joong is looking at you. From a poster outside of a hair salon, from a shop window, in a TV commercial or on local social media sites, the South Korean singer and actor decorates various advertisements in Phnom Penh. But it isn’t just about his ...

As volatility strikes Asian markets in anticipation of the US Federal Reserve winding down quantitative easing – the practice of injecting money into the economy – the National Bank of Cambodia says the Kingdom will remain largely insulated thanks to an investment market still in ...

Continuing its efforts to quell an increasing number of strikes in the Kingdom’s lucrative garment sector, the government this week issued a directive aimed at giving provincial and municipal governors powers to resolve issues at factories without calling on ministries in Phnom Penh. “To ensure further ...

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 ...

About 250 laborers working at a newly opened $90-million sugar factory complex in Kratie province-hailed by the government as a boon to Cambodia’s economy-staged a protest last Saturday morning demanding to be reimbursed for two weeks worth of unpaid wages. District governor Heng Soha acted ...

Cambodian Prime Minister Hun Sen on Thursday urged local producers to increase production in order to boost the country’s exports when the Association of Southeast Asian Nations (ASEAN) turns into a community at the end of 2015. He [Hun Sen] said when ASEAN became [sic] ...

The end of export restrictions in Thailand and a lowering of economic growth forecasts out of top rubber importers China, the United States and Germany have caused natural rubber prices around Asia − and in Cambodia’s local industry − to fall from a two-month high. Future ...