Category: Market info

As the tour and travel industry in Cambodia and across the world is looking forward to a strong revival this year, Siem Reap has figured among the top five trending tourism destinations for 2023 in a recent survey. Siem Reap, the home to the 12th century Angkor Thom royal, figures at the fourth spot in the list. Interestingly, among the 10 top trending destinations, three are in the ASEAN (Association of Southeast Asian Nations), which shows the interest of global travellers in the region, according to Tripadvisor which operates online travel agencies, comparison shopping websites, and mobile apps with user-generated content. Considered a jewel of Southeast Asia, Siem Reap is home to the world-famous Angkor Wat and boasts ancient as well as modern attractions. According to a report of the…

The $1.5 billion port is expected to be a major artery for Cambodia’s maritime transport. A large international deep-sea port in Kampot province has officially opened its construction site. The $1.5 billion port is expected to be a major artery for Cambodia’s maritime transport. The ground-breaking ceremony for the international deep-sea port was held yesterday under the chairmanship of Deputy Prime Minister Chea Sophara, Minister of Land Management, Urban Planning and Construction. Sophara said that the logistics and multi-purpose port in Kampot province is also considered a catalyst in contributing to the development of the national economy. “The port has a water depth of up to 15 metres, which can accommodate large cargo ships with a capacity of up to 100,000 tonnes. The first phase has an investment of about…

Xin Suheng, State Secretary of the Ministry of Commerce of Cambodia, said that under the influence of the new crown pneumonia epidemic, the entry into force of the RCEP agreement has boosted regional trade and investment confidence and eased the impact of the epidemic on the regional economy. He hoped that in the future, Chinese investors will continue to invest in Cambodia, which will drive Cambodia's economic growth and create more employment opportunities. At the same time, the two sides can discuss and carry out economic and technical cooperation activities such as capacity building and technical assistance provided by RCEP to maximize mutual benefit. Qi Wei, Deputy Director of the "Belt and Road" Think Tank Cooperation Alliance Secretariat of the International Department of the CPC Central Committee and Deputy Director…

In the first four months of this year, the Cambodia Development Council (CDC) approved 52 investment projects with an agreed investment of US$2.5 billion. With the new investment law encouraging foreign investment and bilateral and multilateral free trade agreements to boost exports, the World Bank is optimistic that Cambodia's future investment and trade will continue to grow. The World Bank predicts that Cambodia's economic growth rate will accelerate from 3% last year to 4.5% this year, and will return to a potential growth rate of 6% within five years. In the RCEP study on economic and distributional impacts, the World Bank pointed out that in terms of real income and export growth ratios, Cambodia's real income growth rate between 2022 and 2035 will reach about 4%, the degree of benefit…

[caption id="attachment_2327" align="aligncenter" width="994"] The picture shows the streets of Sihanoukville. (Photo: Photo by Cambodia-China Times reporter Channa)[/caption] (Phnom Penh, Phnom Penh) Prime Minister Hun Sen said that the government is implementing a strategy to revitalize the economy. This year, the economic growth rate will reach more than 5%, and it is even expected to return to the high-speed growth track before the epidemic. Hun Sen attended the handover ceremony of the 1.056 million doses of AZ vaccine donated by the Italian government today (25th) and said that after the outbreak of the epidemic, Cambodia has adopted strict epidemic prevention measures such as closing the border, resulting in an unprecedented impact on the economy in 2020. However, thanks to a national Covid-19 vaccination campaign that has established a herd immunity…

Prime Minister Hun Sen announced on the morning of the 26th that Cambodia will officially lift the outdoor mask order from now on. People do not need to wear masks when traveling outdoors, but must wear masks when entering enclosed buildings or workplaces. Hun Sen pointed out that in places where crowds are crowded or may cause the spread of the epidemic, the government still encourages people to continue to wear masks but is not obligated. Cambodia cancels the "mask order" and replaces it with the public must be vaccinated against the new crown. Hun Sen also pointed out that after the outdoor "mask order" is lifted, the government will pay attention to the progress of the epidemic situation in real time. If the epidemic rebounds, the government will not…

The chairman of Cambodian Real Estate Appraisal Association said recently that the price of major building materials is rising due to the Russia-Ukraine conflict and China's epidemic control blockade. If the price of building materials increases for a long time, it will seriously affect the construction price. Cambodia is gradually moving away from the epidemic, and the government has announced the full opening of the country, so economic activities can be resumed. Therefore, despite the fluctuation of building materials prices, real estate prices remain stable. The Ministry of Finance predicts that the gradual return of foreign investment will allow the Cambodian real estate market to gradually recover at a rate of 2.4% and 4.8% in 2021 and 2022. In addition, investment and demand for low- and medium-priced properties will continue…

According to a research report by the National Bureau of Statistics of Cambodia's Ministry of Planning, the capital Phnom Penh will account for 36.3% of the country's total population by 2030. With the continuous economic growth and urban traffic congestion problems, the Royal Government is bound to expand the city map of Phnom Penh. According to official Cambodian estimates, by 2030 about one-third of Cambodians will live in urban areas across the country. In addition, according to a new study by the Cambodian Ministry of Land Planning and Construction, the urbanization rate is expected to increase to around 44 percent by 2030, compared with 27.1 percent in 2008 and 30 percent in 2014, according to a 2015 report. %. According to Pan Subo, Secretary of State at the Ministry of…

Covid-19 has impacted the global economy and people's lifestyles, and has also forced countries around the world to continue their quantitative easing policies. The U.S. dollar has shaken the dominance of the U.S. dollar in the international currency under the circumstances of the government's continued quantitative easing and the people's concerns about inflation. Does the position of global currency hegemony change? After World War II, the U.S. dollar replaced gold as the mainstream of global currency trading Before World War II, global currencies adopted the gold standard. After World War II, the gold standard was replaced by the Bretton Woods system. After the Breton Forest System collapsed, the U.S. dollar was linked to oil again, and the oil yuan system was adopted, which pushed up the U.S. dollar's position in…