IMF: Cambodia should improve
The International Monetary Fund (IMF) said yesterday that Cambodia should improve its business climate and enhance competitiveness by upgrading infrastructure, improving the quality of labor, and strengthening governance as China changes its trade pattern by moving up the value chain. ...
Bank of China to expand operations in Cambodia
Bank of China, one of the five biggest state-owned commercial banks in China, will expand its operations in Cambodia by opening new branches in Siem Reap and Sihanoukville, a local bank executive said yesterday. ...
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). ...
Japanese capital flooding in to Cambodia
Total Japanese investment in Cambodia under the Kingdom’s qualified investment project (QIP) scheme surged tenfold during the first half of the year, driven by Japan’s improved economy and a hefty capital injection by one of its biggest retail giants. ...
Reformed tech industry body looks to boost ‘digital economy’
Representatives of Cambodia’s tech sector say they are ready to help the country take advantage of global advances in information and communication technology (ICT), after recent reforms to the main body representing the industry. The management of the ICT Federation of Cambodia was overhauled in ...
Thailand planning more border SEZs
A Thai study being carried out on special economic zones (SEZ) in 15 provinces along the country’s borders has been welcomed by Cambodian and foreign businessmen, who say both countries can benefit, but some uncertainty remains over exactly where and when the zones will be ...
Japanese FDI leads to surge in exports: analysts
Cambodia’s total exports to Japan increased sharply over the first nine months of the year compared to last year due to flows of investment from Japan to Cambodia over the last few years, analysts said. ...
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. ...
Experts at odds over effects of Yuan devaluation
Economists and industry experts disagreed Tuesday on the effects that recent currency devaluations in China and Vietnam would have on the Cambodian economy. ...
Kang Sothear and Anthony Jensen
Central Bank seeks to give Riel a boost
Cambodia’s central bank will use its upcoming Second Macroeconomic Conference to discuss how best to promote the use of the riel and hasten de-dollarisation in the economy, according to an official release yesterday. ...
Value chain in decline: WTO
Cambodia is one of only two economies worldwide to have declined in global value chain (GVC) participation since 1995, according to the World Trade Organization’s latest study. The WTO’s World Trade Report 2014, released Monday, shows Cambodia’s overall percentage of GVC participation – one country’s contribution ...
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, ...
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 ...
Troubling contrasts in ASEAN
Some of these ASEAN economies are not like the others. Singapore is 80 times richer than Myanmar and its population lives 20 years longer than Cambodia’s, while Myanmar ranks 50 places behind Cambodia in terms of global competitiveness, according to a wide-ranging analysis from the World ...
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 ...
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 ...