Cambodia stands at the forefront of foreign direct investment (FDI) in Asia, anticipating a robust influx of capital in 2024, buoyed by a solid economic recovery. The International Monetary Fund (IMF) projects the country’s growth to reach 6.1% next year, as highlighted in the annual FDI Standouts Watchlist from fDi Intelligence, the industry analysis division…
Major Japanese retailer Aeon Mall has opened a logistics center in the southern Cambodia city of Sihanoukville. The port of Sihanoukville is the only one in the country accessible by large container vessels. A project to develop it into an international hub is underway, with assistance from Japan. Aeon Mall’s new 30,000-square-meter logistics center is…
Although luxury brands are still coming to Vietnam, the expensive facades of the central streets of Ho Chi Minh City have been empty at an unprecedented level over the past three years, and the omnichannel sales method is now being favoured. Le Loi, the most central street of District 1 in Ho Chi Minh City,…
04 July 2023 | 21:34 ICT A feasibility study is underway on a proposed project to convert the Southern Railway Line that links Phnom Penh with Sihanoukville province into high-speed rail to better handle the growing demand for passenger and freight transit, according to Minister of Public Works and Transport Sun Chanthol. This follows the…
Parkson Vietnam, an indirect wholly-owned subsidiary of Parkson Retail Asia, has filed for voluntary bankruptcy with the City People’s Court in Ho Chi Minh City after 18 years in the market. The company cited a long history of operational losses in the market and lack of support from landlords during the Covid-19 outbreak as the…
A wide-ranging corruption crackdown spearheaded by the Vietnam Communist Party chief has claimed the scalp of a former president and shows no signs of stopping The tussle at the top comes as Vietnam battles inflation and as fears of debt bubbles inside its property sector leave investors unsettled Vietnam Communist Party General Secretary Nguyen Phu…
The Cambodia government has expressed its determination to build high-speed rail to link Phnom Penh with Sihanoukville and neighbouring countries. Prime Minister Hun Sen said yesterday that the government has been conducting studies on high-speed railways connecting domestically and to neighbouring countries. “We are conducting studies on high-speed railways connecting Phnom Penh to Preah Sihanouk…
The government plans to look into building a proposed Sihanoukville Logistics Center (SLC), with support from the World Bank, to transform Cambodia into an “active distribution channel” for the region as well as to capture and maintain a sound competitive edge against its peers, according to Minister of Public Works and Transport Sun Chanthol on…
Long Kimmarita | Publication date 10 November 2022 | 19:58 ICT Cambodia’s second expressway project, which will run from Phnom Penh to Bavet town in Svay Rieng province on the border with Vietnam, has an estimated cost of more than $1.6 billion, Minister of Public Works and Transport Sun Chanthol revealed. The construction contract was…
October 1, 2022 Khmer Times Cambodia’s first expressway – which reduces travel time from Phnom Penh to Sihanoukville from five hours to just two hours – opens for a free month’s trial today. The Phnom Penh-Sihanoukville Expressway is 187.05 km long, connecting Village 1, Sangkat Samrong Krom, Khan Por Senchey, Phnom Penh to Village 1,…
Michael Burry is doubling down on investing in farmland. What is one of the hottest and underappreciated assets on Earth this decade? Is it Zoom (ZM), which skyrocketed 500% this year? Or perhaps it’ll be Amazon (AMZN), the king of stay-at-home names already up 72% this year. Surely it must be Moderna (MRNA) or Pfizer…
SINGAPORE/HANOI : Mobile World Investment Corp Vietnam said on Wednesday it has hired an adviser to explore the sale of up to 20 per cent of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion. “We have chosen an adviser…
Cambodia gross domestic product, GDP will expand to 6.3 per cent this year, higher than growth projections made by the World Bank, the International Monetary Fund and the Asian Development Bank, according to forecasts by global rating agency S&P, which expects credit growth in Cambodia’s private sector to continue averaging a brisk 20 per cent…
Gains in exports and increased foreign direct investment (FDI) are expected to drive Cambodia gross domestic product (GDP) growth by 5.3 per cent this year and expand to 6.5 per cent in 2023, based on Asian Development Bank’s (ADB) latest prediction. According to its 2022 Asian Development Outlook, industrial production will rise 8.1 per cent…
The largest temperature-controlled cold storage and cross-docking facility in Cambodia – which will be able to handle up to 25 per cent of the Kingdom’s total requirements – has broken ground in Kandal province. The Kandal Cold Storage project, which had its groundbreaking ceremony on March 22 in Kien Svay district, was funded by Private…
Wang Wentian, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Cambodia, said that if the process goes smoothly as planned, the Phnom Penh-Sihanoukville Expressway project could be completed in June 2022. He made the remarks at a handover ceremony of 231 cases of Covid-19 traditional Chinese medicine weighing 1,125 kilograms to Deputy…
Aeon, a Japanese retailer, plans to build a 30,000-square-meter logistics center in Sihanoukville, Cambodia in 2023 to provide import storage, customs clearance, and cross-border online retail support. Cambodia plans to develop a part of the special economic zone as a free trade port with the support of the Government of Japan and the Japan International…
AEON Mall (Cambodia) Co Ltd’s first “multifunctional logistics business hub” is set to break ground early next month and start operations next year, in a special economic zone (SEZ) near Sihanoukville Autonomous Port (PAS), according to a port source with knowledge of the matter. The shopping mall developer and operator has leased a plot of…
Cambodia is basing hopes for a post-pandemic economy recovery on free trade agreements with China and South Korea, and membership in the Regional Comprehensive Economic Partnership. RCEP is a free-trade agreement including the 10 members of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand that will…
The inflation wave that’s sweeping through the global economy is playing into an investment niche that has captivated investor interest and a small group of people in finance have spent years developing: farmland. Agricultural farmland has attracted interest with institutional investors and wealthy families in recent years because returns tend to be stable and weakly…
PHNOM PENH, Dec. 12 (Xinhua) — Nearly 71 percent of the construction work on the Chinese-invested Phnom Penh-Sihanoukville Expressway has been completed despite the COVID-19 pandemic, the Cambodian Ministry of Public Works and Transport (MPWT) said in a news release on Sunday. MPWT’s secretary of state Yit Bunna visited the construction site in southwestern Kampong…
PM Hun Sen said more than $320 million was spent on the construction of infrastructure in Sihanoukville province to improve Cambodia’s image and be the driver of economic growth for the nation. He made the remarks in a speech given at the inaugural ceremony for 37 newly completed roads and three wastewater treatment stations in…
By Anna J. ParkLocal Korean private equity companies are increasing their investment in Southeast Asia venture capital businesses, as they see further growth potential in the region.Vietnam, in particular, is one of their favored areas. Korea-headquartered STIC Investments recently decided to participate in the Series E round investment for Tiki, one of Vietnam’s largest e-commerce…
Continent Assets Management Co., Ltd, PLMP Venture Capital Co., Ltd, PropNex Cambodia Co., Ltd and Ly Ly Kampong Seila Special Economic Zone Co., Ltd signed a memorandum of understanding (MOU) on November 17th 2021, to join strategic cooperation in designing new investment companies for fintech hub projects in Sihanoukville City under the honorable presences of Governor Kuoch…
The Cambodia government is working to transform Sihanoukville province, also known as Preah Sihanouk province, into a multi-purpose special economic zone (SEZ) after the province received the designation earlier this year. On June 9, 2021, Cambodia Prime Minister Hun Sen signed a sub-decree that will make Sihanoukville province a multi-purpose SEZ. The designation stands to…
Kampot International Tourism Port – slated to be completed by end-2021 – will become an international maritime gateway, a vital component in the national transportation system, and an important magnet for national and international tourists, according to Minister of Tourism Thong Khon. The minister made the remark on September 29 during an inspection of the…
HO CHI MINH CITY — It sounds like the setup for a Vietnamese riddle: Why did the car company buy the supermarket? But instead of a punchline, the answer reveals a common yet obscure aspect of foreign investment in Vietnam: local protectionism hidden in the economic needs test. The blandly named economic needs test, or…
The value of imports and exports passing through the Sihanoukville Special Economic Zone (SEZ) reached $1.373 billion in the first eight months of 2021, an increase of 44.37 per cent year-on-year, the operator reported. Using an earlier report as reference, this means the imports and exports that passed through the industrial zone last month alone…
Big C Supercenter Plc plans to increase investment to expand its retail store business in Cambodia over the next five years. “With our five-year plan, we aim to become the No.1 retailer in Cambodia in terms of value, size and perception among Cambodian customers,” said Gary Hardy, chief operating officer. Mr Hardy said the company…
Saigon plans to extend it’s lockdown status until at least September 15 in response to sustained coronavirus threats, the municipal Party Committee said Friday. Phan Van Mai, deputy secretary of the municipal Standing Party Committee, said the southern city is expected to announce its upcoming plans to fight the coronavirus in the next two days….
Vietnam supply chain dislocation worsens as soaring cases of Covid-19 are seeing ships back up in greater numbers along Vietnam’s southern coastline, while ports are now turning away vessels and are struggling to source available containers. Ho Chi Minh City’s Cat Lai Terminal has stopped accepting reefer cargoes through to the middle of the month…
HO CHI MINH CITY: Until recently, handling of the COVID-19 pandemic in Vietnam had been a remarkable success story, however, that has recently changed as it is struggling with the Delta variant. In January 2020, once the scale of the COVID-19 outbreak in Wuhan became clear, large outbreaks were expected to follow in neighbouring Asian…
While Southeast Asia becomes embattled by the Delta variant of Covid-19 this summer, Cambodia’s people have cause to stay optimistic in a bright future. Cambodia has spent more than $1 billion to combat COVID-19, and herd immunity could be achieved by October, 2021. The tourism centers of Sihanoukville and Siem Reap are likely to evolve…
Economic woes and fears of contracting Covid-19 are causing people to flee Ho Chi Minh City for their hometowns as it grapples with its worst outbreak yet. Last Sunday Dang Van Gin, a worker at a factory in Cu Chi District, stood in a kilometer-long line with thousands of people to pass a checkpoint to…
Foreign investors sell Vietnam blue chips worth over US$1 billion in the first half of the year, according to Yuanta Securities. Matthew Smith, head of research at the company, said in a recent note that net selling by foreign investors in the period was $1.4 billion, 67 percent higher than in the same period last…
Sihanoukville was once a city that drove both local and international headlines. Considered the next hot property investment destination, Sihanoukville continued development as a prime residential, commercial, retail, and up until 2019, gambling hub in Southeast Asia. The city was the microcosm of Cambodia’s rapid development in the past decade. Sihanoukville, a once-sleepy beach town…
World Bank on June 17 forecast Cambodia economic GDP growth to accelerate to 4.0% this year after contracting 3.1 per cent in 2020, thanks to a fast rollout of Covid-19 vaccines and the revitalisation of global demand. However, the Washington-based multilateral lender also offers a downside scenario, in which the jab drive loses too much…
The construction of the nearly $2 billion Phnom Penh-Sihanoukville Expressway is 51% complete and is expected to be finished in 2023, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. Invested in by Cambodian PPSHV Expressway Co Ltd, the first expressway in Cambodia will boast a total length of 190.3km and…
Prolonged stress from the Covid-19 epidemic crushed Phnom Penh’s retail market over the first quarter of this year in terms of rental prices, occupancy rates and consumer spending, a new report obtained by The Post on April 7 revealed. CBRE Cambodia, the local affiliate of US commercial real estate services and investment firm CBRE Group…
International Monetary Fund (IMF) managing director Kristalina Georgieva on April 7 said the Cambodian economy is expected to grow 4.2 per cent this year, following a 3.5 per cent contraction in 2020, but cautioned that local governments around the world should proceed with prudential policies and proactive management. Kristalina made the comment at the opening…
Prospects of a formal initiation of free trade agreement (FTA) talks with the Eurasian Economic Union (EAEU) and Camobida have improved as early talks witness an increasingly positive sentiment, according to Cambodia’s Ministry of Commerce spokesman Seang Thay. Comprising five member states – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – the EAEU is home to…
Reports of government approval for what could become the Kingdom’s first pulp and paper mill in Kampot province’s Teuk Chhou district have galvanised investment hopes and instilled a renewed sense of opportunity in the southwestern coastal province. Last month, the Council for the Development of Cambodia (CDC) agreed to issue a final registration certificate for…
Chinese officials have pledged to bolster Cambodia’s railway infrastructure, according to local media reports. National news agency Agence Kampuchea Press (AKP) reported yesterday that an agreement was made following Preah Sihanouk Provincial Governor Kuoch Chamroeun’s request for Chinese aid in developing the province’s railroad infrastructure. Cambodia’s existing 264 kilometre-long Southern Line connects the coastal city…
Canopy Sands Development, a member of Prince Holding Group has approved a masterplan for Ream City developed by Surbana Jurong Group, a global urban, infrastructure and managed services consultancy headquartered in Singapore. The masterplan specifies a land use plan for the 834-hectare project requiring total investments estimated at $16 billion, and will be developed on…
The Sihanoukville Special Economic Zone (SSEZ) has reported export growth of 26.52 percent in 2020, a significant achievement in light of the COVID-19 pandemic. The value of goods exported from the SSEZ was $1.556 billion, according to the report obtained by Khmer Times on Friday. The zone’s main products are clothes, electronic devices, bags, construction…
With the recent release of the Google e-Conomy SEA 2020 Report on investment trends in Southeast Asia, investors are cautious, yet optimistic, about the financing scene. One example of continued growth is in Vietnam. While already burgeoning in 2019 with $362.5 billion USD in investments, the country has remained relatively stable with funding in the…
The construction of the more than $1.9 billion Phnom Penh-Sihanoukville Expressway has not been delayed despite the Covid-19 pandemic, with more than 26 per cent of the project completed and expected to finish in about two years, according to Ministry of Public Works and Transport secretary of state Vasim Sorya. The first expressway in Cambodia…
A visceral hit of merriment captured Cambodia’s trade and investment sector as the leaders of 15 Asia-Pacific nations signed the blockbuster Regional Comprehensive Economic Partnership (RCEP) trade pact on Sunday. Insiders voiced their enthusiasm for the agreement which they say will allow the Kingdom to expand trade and attract more investment from signatory countries. Leaders…
The 10 member states of the Association of Southeast Asian Nations (ASEAN) are on the cusp of a tremendous leap forward in socio-economic progress and their growth will be propelled by four mega-forces, including favourable demographics, rising income levels, geopolitical shifts and digital tailwinds, according to the World Economic Forum (WEF). The WEF has identified…
Vietnam managed to control COVID-19 without excessive damage to its economy. As a result, it’s one of the few countries that will grow GDP in 2020. Vietnam’s export sector has grown consistently in the past decade, and recent trends are accelerating this growth. Increased FDI will drive higher consumer spending in the near future.Since 2016,…
[HANOI] Vietnam’s economic growth is seen slowing down to 2 per cent-3 per cent this year from an expansion of 7.02 per cent last year due to the wider impact of the coronavirus pandemic and natural disasters, Prime Minister Nguyen Xuan Phuc said on Tuesday. Mr Phuc said Vietnam’s first priority will continue to be…
The Regional Comprehensive Economic Partnership (RCEP) is set to be signed next month at the 4th RCEP Summit during the 37th ASEAN Summit in Vietnam in mid-November, Cambodian Minister of Commerce Pan Sorasak said on Sunday. Experts said the deal will open a wealth of new market opportunities for Cambodia to diversify its export portfolio…
A senior executive officer of Cambodian rice-crackers manufacturer Lyly Food Industry Co Ltd has said the company will build a special economic zone (SEZ) in Sihanoukville province and plans to launch it next year. She said Kampong Seila SEZ is around 79 hectares for setting up factories and industries. “We plan to launch the SEZ…
In the IMF’s recently-released World Economic Outlook, Cambodia’s economy is forecast to shrink 2.8 percent this year, much higher than the 1.5 percent contraction forecast for Indonesia. Amid the COVID-19 pandemic, deeper contractions of 8.3 percent are forecast for the Philippines, 7.1 percent for Thailand and 6.0 percent for both Malaysia and Singapore. Meanwhile, Myanmar…
Vietnam has been making great strides in projecting itself as an effective leader, particularly with its proactive governance in handling the COVID-19 pandemic, climate change policy, and for its political stability. There has been recent speculation regarding Vietnam taking-up the role as new de facto leader of ASEAN. Vietnam has achieved the United Nations’ (UN)…
The coastal city of Sihanoukville has recently undergone a $294 million restoration and expansion project of 34 roads, making it more accessible, clean and ready for the return of tourism. In November last year, the government, with the attendance of Prime Minister Hun Sen, began the work, spanning 82 kilometres. A key issue in Sihanoukville…
The improvement project of National Road 3 that links Phnom Penh to Kampot province has now reached 89 percent. The project started in May 2018 and is estimated to cost approximately $219 million. The upgraded National Road 3 will also connect Cambodia’s natural tourist and coastal areas to Phnom Penh, the heart of the country….
Sihanoukville – A new luxury retail space opened its doors to consumers on 1 October 2020 after a three-year construction period. It is a shopping mall with five floors and an area of 50,000 square metres, which offers a stylish shopping experience to the customers in Sihanoukville. Prince Mall is now Sihanoukville’s premier shopping destination,…
The National Assembly’s 9th Committee on Monday unanimously approved the draft law on the ASEAN-Hong Kong Free Trade Agreement (AHKFTA). This paves the way for the government to continue the ratification process of the free trade agreement (FTA) in a bid to secure a new regional export market. In a press release issued following the…
Cambodia and the UK have vowed to boost their bilateral trade as the Kingdom looks to establish a bilateral free trade agreement with the country. The understanding was made during a meeting between secretary of state of the Ministry of Commerce Sok Sopheak and deputy chief of mission at the British Embassy in Cambodia Marc…
The Kingdom’s first expressway project, built by state-owned China Road and Bridge Corp (CRBC) through its subsidiary Cambodia PPSHV Expressway Co Ltd, linking Phnom Penh to Sihanoukville, at a cost of roughly $1.9billion, is now about 30 percent of its 190 kilometres complete. Cambodia is also considering the construction of a Phnom Penh logistics centre…
For the past three decades, Vietnam has known only good — or great — economic news. The nation’s consistent growth as an exporter, propelled by Communist leaders who began embracing market-oriented policies in the late 1980s, pushed many into the middle class. The coronavirus pandemic changed all that. With garment companies seeing orders slashed and…
The agricultural industry is on track to account for 32 per cent of Cambodia’s gross domestic product (GDP) by the end of the year as more of the Kingdom’s workforce moves into the sector, Royal Academy of Cambodia economics researcher Ky Sereyvath has said. Without citing official figures, Sereyvath predicted that the agricultural labour force…
The Japanese Government has just announced a list of 30 Japanese enterprises receiving support packages when relocating their investments to Vietnam. Most of them are enterprises operating in the field of manufacturing, processing, and medical equipment. Of which, there are large-scale enterprises, such as Hoya Group, Matsuoka Group, Meiko Co., Ltd., and Nikkiso Co., Ltd….
Cambodia is studying the possibility of establishing a bilateral free trade agreement (FTA) with India to open a new market with the second-largest regional economy. This comes as an FTA with China is scheduled to be signed next month while similar negotiations with South Korea have also started. Cambodian Chamber of Commerce vice-president Lim Heng…
Cambodia casinos will restart operations, the country’s Prime Minister, Hun Sen, confirmed on Friday. With operators now having an official green light by the government, estimated 200 casinos are expected to restart. The approval comes after the Ministry of Health has worked out the necessary safety measures to defer the spread of COVID-19 on the…
PHNOM PENH: Cambodia has re-opened its borders with Vietnam after banning cross-border movement more than three months ago due to the Covid-19 pandemic. The Khmer Times reports General Keo Vanthorn, deputy director at the Ministry of Interior’s Immigration Department, confirming the opening of the border, saying it would boost economic, investments and trade between the…
US-based hardwood flooring manufacturer AHF Products has announced that it will fulfil its orders solely out of its Sihanoukville facility, and will cease operations in Shanghai, China, reported Hardwood Floors Magazine. Preah Sihanouk Provincial Hall spokesman Kheang Phearum told The Post that AHF Products, registered in Cambodia as Fine Flooring (Cambodia) Co Ltd, built its…
The Kingdom’s coastal Sihanoukville, where Chinese nationals national dominated nearly a half of businesses before the COVID-19 outbreak, is seeing economic activity gradually rebound after Middle Kingdom’s investors and workers started to return to the province as pandemic fears ease. Preah Sihanouk provincial hall spokesman Kheang Phearum told Khmer Times that Since May 23 up…
South Korean officials have expressed their intention to sign a free trade agreement (FTA) with Cambodia next month to boost bilateral trade, news hailed by local businessmen. The Korea Herald quoted South Korea’s Deputy Prime Minister and Minister of Economy and Finance Hong Nam-ki as saying on Monday: “Since the proposal for an FTA with…
The coastal province of Preah Sihanouk – considered to be one of the Kingdom’s economic hubs and a southwest rising star of the country – will soon be home to six more special economic zones (SEZ). The additions will bring the total number of industrial parks in the province to 10, the provincial administration reported….
Investment continues to pour into Cambodia’s tourism sector and hospitality industry, setting an optimistic mood that the Kingdom will soon welcome back international visitors. The Council for the Development of Cambodia (CDC) has approved local company Sun and Moon Hotel Co Ltd’s $35.2 million four-star hotel project in Phnom Penh. The hotel will comprise 200…
The Preah Sihanouk Provincial Administration has signed Memorandums of Understanding (MoUs) with 16 Chinese cities and provinces to promote investments in tourism, culture, education and sports between the province and China. Government spokesman Phay Siphan said Preah Sihanouk is a multi-purpose coastal province that the government believes has the potential to become a multi-purpose economic…
The local government of Vietnam’s financial capital Ho Chi Minh City is forging ahead with plans to develop a large segment of the city into the first technology hub in the country. City officials first began planning to cultivate the 22,000-hectare (54,300-acre) swath of land in 2017, according to Vietnamese news outlet VnExpress International, which…
PHNOM PENH — The National Bank of Cambodia announced on Friday a new plan to phase-out circulation of small-denominated U.S. dollar bills in the country’s highly-dollarized economy, creating some confusion among citizens if these bills had been banned outright. In a press release, the National Bank of Cambodia (NBC) said it would phase out the…
United States President Donald Trump announced on Friday that he plans to begin stripping Hong Kong of its special trading status, but left many important questions about the city’s future as a financial and commercial hub unanswered. The move will affect “the full range of agreements” the US has with Hong Kong “with few exceptions”,…
HÀ NỘI — The national flag carrier Vietnam Airlines has resumed full domestic operations with the number of domestic passenger flights on May 29 up 36 per cent year on year to over 300. The total number of cargo and passenger flights on May 29 was almost equivalent to the figure on the same day…
Phnom Penh (VNA) – Cambodia’s GDP growth is projected to drop 0.3 percent due to the impact of the COVID-19 pandemic and economic slowdowns in China, the EU and the US, Moody’s Investors Service has said. According to Moody’s Vice President and Senior Analyst Anushka Shah, Cambodia is particularly exposed to a slowdown in China…
Honolulu – Venturing out of a hotel room in Hawaii right now might land you in handcuffs. Just ask one of the roughly 20 people who have been arrested for violating Gov. David Ige’s two-week quarantine imposed on all who arrive in the state or travel between its islands. Hundreds more have been arrested or…
The Cambodia-China Free Trade Agreement is expected to be finalised next month. This comes as the Kingdom strives to develop a range of policies and strategies to boost international exports, and establish bilateral free trade agreements (FTAs) with countries around the world. Two other possible deals are in negotiations, South Korea and the Eurasian Economic…
Vietnam is expected to ratify EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) on May 20, official sources confirmed on Tuesday. https://www.plenglish.com/index.php?o=rn&id=55620&SEO=vietnam-is-ready-to-ratify-fta-with-european-union
HCMC – The International Monetary Fund (IMF) has forecast that Vietnam’s economic growth will slow to 2.7% this year due to the coronavirus pandemic but may rebound strongly to 7% next year. https://english.thesaigontimes.vn/76661/vietnam%e2%80%99s-economic-growth-will-rebound-strongly-in-2021-imf-.html
IRVING, Texas — 7-Eleven Inc. has signed a master franchise agreement with CP ALL (Cambodia) Co. Ltd., an indirect subsidiary of CP ALL Public Co. Ltd., to develop and operate 7-Eleven stores in Cambodia. The companies expect the first Cambodian 7-Eleven-branded c-store will open in Phnom Penh in 2021. The master franchisee plans to build…
Cambodia exported more than $1.6 billion worth of goods to the US in the first three months of this year, a sharp 42.29 per cent year-on-year increase from $1.1 billion, said a US Census Bureau report. https://www.thestar.com.my/news/regional/2020/05/07/cambodian-exports-to-us-soar-42-to-us16-billion-in-q1
The outbreak of COVID-19 has frozen many sectors in Cambodia: hotels shuttered, workers in garment factories laid off, trade disrupted, and tourism stopped. Despite all the obstacles brought by the COVID-19 pandemic, the construction of the first expressway in Cambodia continues to make headway day by day under a joint effort made by Chinese and…
Sihanouk International Airport will soon increase its capacity to allow for long-haul flights – flights longer than seven hours – and the upgrade is expected to enhance relations in the trade, investment and tourism sectors between Cambodia and the rest of the world. At a press conference on the “Progress and Implementation plan of the…
HÀ NỘI – Việt Nam’s gross domestic product (GDP) expanded by 3.82 per cent in the first quarter of this year – the lowest growth rate posted in the past 10 years – showing the tremendous impact the novel coronavirus (COVID-19) pandemic is having on the country’s economy. https://vietnamnews.vn/economy/654265/viet-nams-gdp-hits-10-year-low-in-the-first-quarter.html
A free trade agreement (FTA) between Cambodia and China is expected to be finalised in November in a move to boost trade between the two countries, the Phnom Penh Post reported. During bilateral talks from January 20-23 last year in Beijing, Cambodian Prime Minister Hun Sen and his Chinese counterpart Li Keqiang greenlighted a feasibility…
The National Committee for Coastal Management and Development will coordinate with relevant ministries over the establishment of a billion-dollar tourist area named Neak Reach in Preah Sihanouk province after it was proposed by the Ministry of Tourism. The press release said the Ream City project was estimated to cost up to $16 billion in investment…
Chinese President Xi Jinping has pledged to encourage Chinese investors to do business in Cambodia, contributing to the kingdom’s economic development. The Chinese leader expressed his deep gratitude for Hun Sen’s support, adding the visit demonstrated Cambodia places higher trust in China. Xi affirmed that China will continue facilitating the negotiation of a bilateral free…
Vietnam in Southeast Asia is one of the best growing economies in the region. The country has become an attractive destination for investment from all over the globe. The trade wars between the US and China have certainly contributed to this outcome. Since the US has stopped cooperating with China in a number of industries,…
Sihanoukville, once a sleepy beach town that has experienced tremendous growth in recent years fueled mostly by Chinese investment, will soon boast two new shopping malls. Furi Times Square, a $10 million joint venture between Furi Real Estate and investors from Macau and Hong Kong, will open its doors to the public next month. Speaking…
