Starbucks Vietnam will close its Hanoi outlet after eight years, following the closures of two locations in Vietnam last year. The Starbucks Lan Vien outlet in Hoan Kiem District will operate until June 30, the company said in a Facebook post. Last year, Starbucks Vietnam had closures of another outlet in Hoan Kiem District and…
Google data has revealed Indian tourists are increasingly keen on visiting Vietnam as carriers have launched more direct flights. The search volume for direct flights to Vietnam from India in early April grew by 400 percent year-on-year and over 3,000 percent in late May, according to data from Google’s Destination Insights. The frequency of searches…
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…
PHNOM PENH: Prime Minister Hun Sen has announced that Cambodia ends the quarantine requirement for all fully vaccinated people who enter the country. This was announced by the prime minister on the afternoon of November 14 who added that this is applicable to all travelers, except those who have not been vaccinated who will have…
CBRE Cambodia senior manager Kim Kinkesa told The Post on October 27 that the Cambodia retail rental market has been in steady decline since the global outbreak of Covid-19 early last year. The launch of three new retail centres in the third quarter of this year has brought the total retail space in the capital…
In a bid to quickly reopen the country to international tourists, Cambodia will implement a sandbox scheme to allow quarantine-free visits for those who are fully-vaccinated to Sihanoukville, Koh Rong island and the Dara Sakor Resort in Koh Kong province from November 30. The Quarantine Free Safe Tourism package will apply to tourists who book…
BANGKOK: Bangkok will reopen to international tourists on Oct 15 when at least 70 per cent of its residents are expected to have been fully vaccinated. The decision came after a discussion between Tourism and Sports Minister Pipat Ratchakitprakan and Bangkok Governor Aswin Kwanmuang on Wednesday (Sep 15). “Our mutual decision is that we want…
The real estate market of Sihanoukville province is beginning to show more positive signs after a subdued period, following a double whammy shock of an exodus of Chinese nationals in the wake of an online gambling ban, and then the Covid-19 crisis, observers have said. In a bid to develop the Kingdom’s largest coastal province…
With Phnom Penh on track to become the most vaccinated city in Southeast Asia, moves are afoot within Cambodia to open tourism and to open of borders for fully vaccinated international travelers by November this year. The Cambodian tourism ministry recently announced that fully vaccinated international tourists with proof of their inoculation could be allowed…
The prolonged spread of Covid-19 continues to dismantle the Cambodian restaurant industry. New research from the Cambodia Restaurant Association (CRA) shows that sales have been decimated by the pandemic, dropping 50 per cent last year over 2019 and now 60 per cent lower than 2020 levels. This represents a cumulative 80 per cent drop of…
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…
The Covid-19 pandemic has rocked the retail landscape in Phnom Penh, with anxiety around infection risk keeping the masses away from shopping malls and driving retail consumption down by nearly five per cent in the first half of this year, compared to July-December 2020, according to a report by real estate company CBRE Cambodia. 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…
International Limited has announced all casino operations in the Banteay Meanchey province have been temporarily suspended from 27 April 2021 to comply with the order from Cambodia local authorities to for closure of all casinos in the area. The company’s casino, Star Vegas (pictured), halted its operations until further notice to prevent the outbreak of…
The nighttime lockdown curfew in Cambodia’s capital city, Phnom Penh (pictured), host of the NagaWorld casino resort, has been again extended by the local authorities for another week, to May 5. Such curfew was first introduced on April 1 as a countermeasure against the further spread of Covid-19, and was due to last until April…
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…
Quarantine requirements will be waived for vaccinated foreign visitors arriving on the resort island of Phuket from July 1, the first destination to reopen since the Covid-19 pandemic struck last year. The Centre for Economic Situation Administration, chaired by Prime Minister Prayut Chan-o- cha, on Friday approved the proposal by Phuket’s private sector and business…
The governor of Preah Sihanouk, Kuoch Chamroeun, has granted permission for three hotspots in Sihanoukville, Cambodia, including Jin Bei Casino and Hotel, to resume normal operations. All three branches of Jin Bei Hotel as well as Jin Bei Casino and Hotel were closed down in late February after two positive cases of COVID-19 among Chinese…
The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The Post on January 10. He defined a “travel bubble” as a…
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…
[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…
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)…
Hotels with ‘for sale’ signs have mushroomed across different parts of Vietnam, despite a scarcity in buyers. The sales trend first kicked off in central areas of HCMC and Hanoi’s Old Quarter, but later spread to other tourism hotspots like Phu Quoc Island, Da Nang City, and other coastal towns including Nha Trang, Vung Tau,…
Having harnessed the attention of residential investors for at least the last three years, Cambodia’s construction boom continues without any signs of dwindling. Until a slowdown evident over the last 12 months, developers had been particularly active in Cambodia’s condominium sector and CBRE sees signs of a resurgence in this side of the market. “The…
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…
Shangri-La Hotels (Malaysia) Bhd, controlled by tycoon Tan Sri Robert Kuok, expects the performances of its investment properties, which include UBN Tower and UBN Apartments to soften further through the fiscal year 2020, in tandem with weakening economic activity resulting from the Covid-19 pandemic. The group expects the market conditions for its hotel operation to…
Prime Minister Hun Sen has touted Cambodia’s “strong” agricultural sector as a solution to economic pressures during the global pandemic. In a speech at the Freshwater Aquaculture Research and Development Center in Prey Veng province’s Peam Ro district on Tuesday, Hun Sen said the government was preparing to further support the nation’s already strong agriculture…
A RENEWABLE-ENERGY fund will invest more than $2.5 billion in Southeast Asian renewable energy projects to support the region’s recovery from the pandemic, with a focus on the Philippines, Vietnam and Indonesia. In a statement issued Monday, the South East Asia Clean Energy Facility (SEACEF) said it will offer high-risk venture capital-type funding initiative to…
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…
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…
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…
According to research, some markets in APAC are expressing interest in future domestic travel. In Indonesia, India, the Philippines, and Vietnam, more than 25% of respondents expressed plans to travel domestically in the next three months, compared with countries like Australia and Japan, where less than 14% of them plan to do so. Safety is…
With the ongoing coronavirus pandemic, coupled with an online gambling ban that went into effect on January 1, growth in the casino hotspot of Bavet town in Svay Rieng province has slowed down to a crawl. But on March 18, Vietnam suspended the entry of all foreigners into the country to curb the spread of…
Bangkok (CNN) — With news that many countries in Europe are reopening to tourism in time for summer, travelers with their sights set on Asia are anxiously awaiting word on when they’ll be given the green light to visit their favorite destination. As of now, those with Thailand in mind will need to wait at…
Hong Kong’s Century Entertainment International Holdings Limited, formerly known as Amax International Holdings, has terminated a lease deal with Cambodia’s Crown Resorts Co Ltd to operate a VIP room at Genting Crown Casino in Poipet, Cambodia. The lease deal, which was due to expire in November, saw Century Entertainment run 13 VIP tables at Genting…
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…
Many owners cannot maintain operation of their hotels during the epidemic and want to sell them. Tran Hoa, the owner of Hanoi Passion Suite on Tran Nhat Duat street in Hanoi, has sold her hotel for VND350 million. In HCM City, small hotels and homestays in central districts 1, 3 and Phu Nhuan have also…
With just 270 cases and zero coronavirus deaths, Vietnam has emerged as the first Southeast Asian country to pull its tourism sector out the pits, ahead of major Southeast Asia nations such as Singapore, Thailand, Malaysia, Indonesia, and the Philippines that are still under various degrees of lockdown. Domestic flights are now back in operation,…
HÀ NỘI — With social distancing measures eased, some F&B businesses have gradually restarted operations, with some even opening new branches. https://vietnamnews.vn/economy/716510/f-b-businesses-take-different-strategies-after-social-distancing.html
HÀ NỘI – The domestic real estate market in the first quarter had the lowest transaction volume in the past four years due to the impact of the COVID-19 pandemic, Việt Nam Association of Real Estate Brokers (VARS) said. https://vietnamnews.vn/economy/674648/real-estate-market-has-lowest-transaction-volume-in-q1-vars.html
HÀ NỘI – The novel coronavirus (COVID -19) outbreak has cost many real estate firms trillions of đồng from their market capitalisation value. Đất Xanh Group Joint Stock Company (DXG) is one of those to have suffered the greatest impacts of the pandemic, leading falling share prices. https://vietnamnews.vn/economy/674631/real-estate-companies-lose-trillions-of-dong-due-to-covid-19.html
HCMC – The coronavirus pandemic has been disrupting the operations of hotels in HCMC, the country’s largest tourist center, forcing many to shut down. HCMC saw lodging and catering service revenue in the first quarter of 2020 dip by 30% year-on-year to an estimated VND19.7 trillion, while the city’s tourism revenue stood at an estimated VND4.5 trillion,…
HÀ NỘI – The agricultural sector recorded a trade surplus of about US$2.9 billion in the first quarter of this year despite suffering through the COVID-19 pandemic, according to the Ministry of Agriculture and Rural Development (MARD). https://vietnamnews.vn/economy/674532/agricultural-sector-gains-trade-surplus-in-q1-despite-covid-19.html
Cambodian casino operator NagaCorp says it’s not worried about the COVID-19 pandemic because the company believes its Phnom Penh casino monopoly will outlast the virus. On Wednesday, NagaCorp issued a trading update on its performance over the first three months of 2020, during which gross gaming revenue at its NagaWorld facility in Cambodia’s capital rose 15% year-on-year…
SIHANOUKVILLE, Cambodia (Reuters) – When casino owner Kang Qiang looks out the window of his 20th floor office in this city on the remote Cambodian coast, he sees construction cranes sitting idle. The Chinese-funded gambling enclave of Sihanoukville has suffered a double blow. Travel restrictions imposed in recent weeks to slow the global coronavirus pandemic…
HCMC – As the hospitality industry has been hit hard by the coronavirus pandemic, many hotels in Nha Trang in the central coastal province of Khanh Hoa have been put up for sale because of heavy losses. Khanh Hoa is among the localities with the highest number of hotels in the country. Data from the…
The Cambodian Ministry of Land Management, Urban Planning and Construction said the construction industry in the country remains stable despite a serious downturn facing many sectors globally due to impact of COVID-19. https://en.vietnamplus.vn/cambodias-construction-sector-remains-stable/170248.vnp
