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In light of Cambodia’s growing demand for energy, government officials on Wednesday called on the private sector to invest in the country’s power generation and transmission needs.
While the government expects the country’s economy to grow at about 7 percent for the next two years, downside risks emanating from the banking and real estate sectors are a growing concern, officials say.
Cambodia’s commercial aircraft fleet is expected to expand this year as airlines compete to gain a share of the lucrative Chinese tourism market, according to a report released on Tuesday by the Center for Asia Pacific Aviation (CAPA).
Six months after the Cambodia Securities Exchange (CSX) announced a new initiative to improve access to financing for cash-strapped small and medium-sized enterprises, no SMEs have listed on the CSX's Growth Board.
The government is planning to boost Cambodia’s attractiveness as a second-home tourist destination for foreign retirees, according to a draft policy obtained from the Ministry of Tourism Wednesday.
The Phnom Penh Special Economic Zone has signed an agreement with a Singaporean firm to pilot a solar panel system inside the industrial park, the SEZ said in a statement on Thursday. Cleantech Solar, which currently offers solar technology products in six Asian countries, will lease solar equipment to the SEZ, with the system expected to be operational by the end of April, the statement said.
Cambodia’s “Economic Freedom”—a broad measure of how well individuals and businesses can create and protect their wealth —was classed as “mostly unfree” in a new report released by the Washington-based Heritage Foundation, which identified corruption and bureaucracy as impediments to free markets.
NagaCorp, which owns NagaWorld casino in Phnom Penh, saw a 20 percent jump in profits last year, it said in a statement on Monday.
Commerce Minister Sun Chanthol on Friday announced proposals to boost Cambodia’s international brand and urged citizens and the private sector to help fight corruption.
While experts say that Cambodia must enhance education and interest in STEM fields if it is to sustain economic growth and remain internationally competitive over the coming decades, few students have heeded the call.
When it comes to political rights and civil liberties, Cambodian citizens continue to be “not free,” according to U.S.-based organization Freedom House, which released its “Freedom in the World 2016” report on Wednesday.
Cambodia’s skills gap and low labor force productivity continue to pose risks to economic growth in the country, according to a study released on Thursday by the Asian Development Bank and International Labor Organization.
Experts on Wednesday urged Cambodia to move away from large-scale hydropower and coal projects and toward more environmentally friendly sources of energy, following the launch of a report by investment and advisory firm Mekong Strategic Partners in Phnom Penh.
Though it’s extremely early days, experts this week welcomed Cambodia’s membership to the nascent China-led Asian Infrastructure Investment Bank, saying it would provide much-needed diversity of funding for the nation’s infrastructure and connectivity needs.
Despite a slew of global investment banks slashing their oil price forecasts this week, KrisEnergy —the Singaporean oil and gas firm with a controlling stake in Cambodia’s most promising offshore oil reserve, Block A—remains committed to helping Cambodia produce its first drop of oil, a company official said this week.
Despite the threat of increased competition, Phnom Penh’s coffee shops are embracing the arrival of global giant Starbucks, which is expected to add impetus to the country’s maturing coffee culture.
Starting next month, Hong Kong Airlines will launch direct flight service between Phnom Penh and Hong Kong, the company announced Friday. An all-economy-class service on an Airbus A320 running three times a week will begin on February 27.
In spite of gloomy prognostications at the start of 2015, Cambodia’s airports experienced double-digit growth in passenger numbers for the sixth year running, according to Cambodia Airports, which is expecting significantly slower growth in 2016.
Global and regional economic dynamics are likely to pose challenges for Cambodia’s economy in 2016, the National Bank of Cambodia said in a year-end report released on Wednesday, which highlighted reforms undertaken over the past year.
Nearly a decade in the making, the Asean Economic Community (AEC) officially launches today. But economists say it will not have an immediate impact on Cambodia, with numerous domestic and regional challenges still standing in the way of closer integration.