News

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 ...

Cambodia’s Ministry of Tourism on Wednesday finalized its 5-year strategic plan to attract at least 1.3 million Chinese visitors by 2018. Speaking at a seminar on Cambodia tourism marketing strategy targeting China, So Visothy, director of the Tourism Ministry’s Marketing and Promotion Department, said that currently ...

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 ...

A national silk board (NSB) under the Ministry of Commerce is being planned to weave tighter regulations into the Kingdom’s silk industry, the lack of which has deterred investors and hurt its export potential, according to industry representatives. Minister of Commerce Cham Prasidh said last week ...

Outstanding loans and deposits made at Cambodian banks grew by 32 per cent and 28 per cent respectively at the end of March this year from a year earlier, according to data from the National Bank of Cambodia (NBC). The data from the NBC that the ...

Cambodian migrant workers sent home $256 million last year, according to a report from a U.N. agency and the World Bank, which was released in Bangkok yesterday. The report from the bank and Rome-based International Fund for Agriculture Development (IFAD), titled Sending Money Home to Asia, ...

Vietnam’s investment in Cambodia has increased significantly in the last three years, but a mechanism to encourage and oversee investments in prioritized sectors is needed, according to diplomatic sources. Tan Nguyen Tien, head of the economic section at the Vietnamese embassy in Phnom Penh, said Vietnam’s ...

Cambodian Prime Minister Hun Sen announced in late March that the nation was on target to move from the status of a low-income to a lower-middle-income nation by the end of 2013, ranking it the 15th country that obtained high economic growth in the world in the ...

While significant obstacles remain, the success of the rice sector is a potentially crucial driver in Cambodia’s prosperous and equitable development. Cambodia announced two major bilateral trade agreements recently, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. ...

“The agriculture sector today is still playing significant role in promoting local production growth, job creation, and contributing to the poverty reduction of the people.  At the same time, the agriculture sector will continue the basic role for economic growth and socio-economic development in Cambodia in ...

Cambodia announced two major bilateral trade agreements last month, with the Philippines and Thailand, that are expected to further expand the country’s rice export sector. Over the last few years, Cambodia has emerged as a major rice exporter in the region, due in large part ...

Police at border checkpoints have in the past weeks stopped more than 2,200 people in Banteay Meanchey province from crossing into Thailand to look for better paid work, officials said yesterday. The focus on Cambodian workers migrating to Thailand-many illegally-comes amid a shortage of labor at ...

The World Bank has warned that the rapid growth of lending by Cambodia’s Banks is still a concern, despite a recent slow-down in credit disbursals. “Credit growth, which has been driven largely by wholesale and retail financing, and starting in 2011 agriculture financing, has eased to ...

Government action will be needed to ensure that nearly two decades of impressive economic growth continues in Cambodia, the International Monetary Fund (IMF) said in a report published Wednesday. In its 2013 World Economic Outlook, the IMF put Cambodia’s gross do­mestic product (GDP) growth for 2012 ...

Going by the World Bank’s method of grouping nation states by their wealth, Cambodia this year could become a lower-middle income country. Not satisfied, however, with this graduation—a feat in itself from Cambodia’s position of extreme poverty just two decades ago when gross domestic product (GDP) ...

Increases in Cambodia’s GDP and foreign direct investment (FDI) are helping to drive the supply and demand in the Kingdom’s office sector, according to a new report from global property agents CBRE. Increasingly, international businesses are favouring Cambodia, in particular Phnom Penh, mainly due to ...

Cambodia’s economy is projected to grow by 7 percent this year, Deputy Prime Minister and Finance Minister Keat Chhon said Friday. He said the growth still is contributed by garment exports, tourism, agriculture, real estate and construction. Last year, Cambodia’s GDP per capita was nearly 1,000 ...

Eric Sidgwick, Country director of the Asian Development Bank (ADB) to Cambodia applauded Cambodia for managing it’s, sometimes problematic, public debts. During the Wednesday meeting with Deputy Prime Minister, Sok An, Eric Sidgwick said, good management led to the positive changes of donations and ...

A delegation from a Thai agricultural co-operative yesterday discussed means of improving agricultural products and market access with representatives of the Ministry of Commerce in Phnom Penh. Kamit Likhitvidhayavuth of the Thai co-operative said his team aimed to strengthen market access for Cambodian goods. No agreement ...

Cambodia economic growth was 7.3 percent in 2012. Agriculture grew by 4.3 percent, crops by 4.9 percent, fisheries by 6.7 percent, industry by 9.2 percent, garment [sector] by 6.9 percent and the service industry by 8.1 percent, said Dr Hang Chuon Naron, Secretary of State ...

Cambodian Prime Minister Hun Sen said Monday that the country would move from the status of a low-income to a lower-middle-income nation by the end of this year. “We acknowledge that we are in the status of a low-income country with GDP per capita of less ...

According to the [inter]national Monetary Fund (IMF), at the end of 2011, the stock of Cambodia’s external public debt, including arrears, stood at around US 3.8 billion or 30 percent of GDP (24 percent in NPV terms). China remains the largest bilateral creditor, contributing to ...

The UN’s assessment suggests that Cambodia is one of the top five countries that have made significant progress toward meeting its MDGs by 2015. The poverty rate has dropped dramatically from 47.50 percent in 1993 to 34.70 percent in 2004 and 23 percent in 2011, ...

Lending by commercial banks in Cambodia grew by more than one-third last year, according to figures provided by the National Bank of Cambodia (NBC) yesterday. Banks lent out a total of $5.89 billion in 2012, compared with $4.39 billion in 2011, NBC figures show, meaning ...