Cambodia

The United Nations has announced that it expects the Cambodia economy to slow in 2008 according to AFP.

The forecast it is that the Cambodia economy will only grow 7 percent compared to the 8.5 percent it grew in 2007.

Nonetheless, with inflation in the rise and countries such as China and Vietnam pressured to cool their own economies, the Cambodia government is likely somewhat pleased about the Cambodia economic growth revision as food inflation continues [Read more →]

Food inflation is now beginning to hit Cambodia’s poor and the Cambodia economy according to AFP.

Cambodia inflation in 2007 hit 10.8 percent as compared with 2.8 percent in 2006.

The result has caused the price of food and other staple goods to skyrocket therefore sending the poor into deeper poverty.

It is estimated that Cambodia economy is now [Read more →]

In an effort to diversify the Cambodia economy and drive tourism, Cambodia is on pace to build four more luxury golf courses by 2010 raising the total number of courses to eight according to AFP.

With two PGA-rated courses located in Siem Reap as a selling point that Cambodia is a viable golfing destination, Cambodia sees golf as a means to attract more tourism and create more jobs for the Cambodia economy [Read more →]

Watch this informative video highlighting the concern among ASEAN member countries over China’s economic dominance:

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Telekom Malaysia, fixed line operator, has announced that it will invest in Cambodia $150 million according to Reuters.

The Cambodia investment will go towards upgrading network capacity and adding 500 base transmitter stations into the Cambodia infrastructure.

The move by Telekom Malaysia invest in Cambodia shows continued Cambodia foreign direct investment (FDI) interest [Read more →]

The Cambodia economy is seeing a rise in gasoline prices of 10 percent according to Xinhua News.

Rather than subsidize gasoline prices, the Cambodia government has decided to let gas prices adjust to market conditions regardless of their affects on the Cambodia economy.

Key drivers of the price increase are strong global demand, geopolitical concerns and Cambodian taxes.

Cambodia government officials are confident that the Cambodia economy can [Read more →]

The Cambodia economy ranks 110th in global competitiveness according to the Global Competitiveness Report 2007-2008.

The Global Competitiveness Report 2007-2008 study is conducted by the World Economic Forum and based its Cambodia economy competitiveness on the following criteria:

• Institutions
• Infrastructure
• Macroeconomic stability
• Health and primary education
• Higher education and training
• Goods market efficiency
• Labor market efficiency
• Financial markets sophistication technological readiness
• Market size
• Business sophistication
• Innovation

For a detailed look into the Global Competitiveness Report 2007-2008 and its view on the Cambodia economy, see [Read more →]

The Electricity Generating Authority of Thailand plans to invest in the Cambodia economy through development of a new coal-fired power plant according to the Bangkok Post.

The $4.5 billion project will allow Thailand to source 3,000 megawatts of energy and will continue to help the Cambodia economy with jobs and construction contracts.

China is likely to be the biggest partner in the project in addition to a smaller stake by the Cambodia government.

Nonetheless, such investment in the Cambodia economy should [Read more →]

The US has pledged $65 million to help improve the Cambodia economy according to The Honolulu Advertiser.

As the growth of the Cambodia economy becomes of more strategic interest to US, the US plans to provide assistance in the areas of improving education, public health, corruption prevention, and in helping to manage natural resources.

However, the likely driver of the interest is in the recent discovery of offshore oil and gas deposits by the Chevron Corporation and China’s overwhelming influence in the region. Such US and China interest give enormous potential for the Cambodia economy [Read more →]

Japan Airlines (JAL) is set to offer direct flights to Siem Reap Cambodia according to Japan’s Corporate News.

While the flight is still contingent on government approval, the Japan Airlines (JAL) direct flight to Siem Reap Cambodia would elevate the need for Japanese tourist to the travel to Bangkok or Ho Chi Minh first in order to visit the holy Angkor Wat temple.

According to the Cambodia Ministry of Tourism, [Read more →]

Cambodia land prices in Phnom Penh have risen from $5 per sq meter to $100 per sq meter in one year according to Channel Asia News.

The key driver to such an increase in Cambodia land prices is due the growing inflows of foreign direct investment into Cambodia from countries such as [Read more →]

The Cambodia government plans to consider exploration of oil and gas in Tonle Sap Lake according to the International Herald Tribune.

Controversy over the announcement involves environmental and corruption concerns.

The 3 million acre lake is home to more than [Read more →]

Japan has announced that it will loan Cambodia $8.7 million in aid to help fight Cambodia poverty according to People’s Daily Online.

Loans to Cambodia by Japan have already reached $146 million and the current loan is [Read more →]

In a sub-decree signed by Prime Minister Hun Sen, the Cambodia government is now allowing investors to use long-term leases and land concession rights as collateral for bank loans according to People’s Daily Online.

The move is a step in the right direction for Cambodia as local investors can now l [Read more →]

The Asian Development Bank (ADB) has stated its plan to reduce poverty in Cambodia is relevant, yet it lacks the ability to be effective unless improvements are made according to Forbes.

With overall Asian Development Bank (ADB) performance in Cambodia low, the bank is concerned that [Read more →]

The International Monetary Fund (IMF) has stated in a recent report that oil production out of Cambodia will possibly generate $1.7 billion per year by 2021 according to Asia Times Online.

Based off a study project driven by Chevron off the coast of southern Cambodia, Cambodia holds an estimated 700 million barrels of oil with a starting income of $174 million by 2011.

While the study seems positive for Cambodia, there are many negatives to such a windfall of oil including high inflation due to an mass increase in GDP.

Cambodia political opposition says the country is not ready for a Cambodia Stock Market largely because of rampant corruption and lack of transparency according to ABC Radio Australia.

For ABC Radio Australia’s audio of the story [Read more →]

The IMF (International Monetary Fund) expects Cambodia to grow 7.75 percent in 2008 [Read more →]

After the announcement of a South Korean investment of $1.8 million to help Cambodia launch the Cambodia stock exchange [see: Cambodia Partners with South Korea to set up Cambodia Stock Exchange], the Cambodia parliament has officially passed a law that would allow the Cambodia stock exchange to open in 2009. [Read more →]

In an effort to drive Cambodia tourism, the Cambodia government plans to launch a new national Cambodia airline according to eTravelBalckboard. [Read more →]

With 11 percent growth over the last three years, continued economic stability, and expanding financial sector, Cambodia has partnered with South Korea to set up the Cambodia stock exchange according to Forbes. [Read more →]