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In an impressive economic development, Cambodia marked the first quarter of 2024 with robust investment dynamics paving the way for a surge in employment and project expansions. The Council for the Development of Cambodia (CDC), the highest decision-making body for private and public sector investments in the country, sanctioned a total of 106 new and…
In a significant step towards transforming Cambodia’s coastal regions, the 7th Inter-ministerial Technical Working Group (TWG) meeting was held on April 1, 2024, in Kampot province. Chaired by His Excellency Dr. Phan Phalla, Secretary of State of the Ministry of Economy and Finance, the meeting focused on reviewing and providing technical input on the draft…
At the opening of the Cambodia-ASEAN Business Summit 2024, Prime Minister Hun Manet unveiled a range of exciting investment opportunities and initiatives aimed at boosting Cambodia’s economic growth and strengthening ties within the ASEAN community. The Royal Government of Cambodia has introduced the “Special Program to Promote Investment in Preah Sihanouk Province 2024,” offering special…
Heng Sour, the Minister of Labor and Vocational Training, has expressed Cambodia’s support for Japanese investors interested in investing in Cambodia and expanding labor cooperation between the two countries. The Minister made these comments during a meeting with a delegation from Asakuchi, Okayama province, Japan. The delegation, led by Yasuhiko Kuriyama, included Fumiaki Takahashi, President…
Singapore-based lodging business unit The Ascott Limited (Ascott), a wholly-owned subsidiary of CapitaLand Investment, has recently entered into a management agreement with Overseas Cambodian Investment Corporation (OCIC) to launch Somerset Diamond Bay Garden Phnom Penh in Koh Pich. The management agreement was formalized through the signing by Ms. Serena Lim, Chief Growth Officer of The…
Phnom Penh, Mar. 26 – The Ministry of Environment has called upon companies and development partners to actively participate in carbon investment in Cambodia, with a focus on promoting cleaner soil, water, and air. During a meeting with Hoang Anh Dung, CEO of Investment and Trading Consulting Company Limited (INTRACO Holding) of Vietnam, Eang Sophalleth,…
A high-level Korean delegation, comprising key representatives from prominent companies such as Hyundai Motor, CJ Group, and Booyoung Group, has expressed keen interest in exploring investment opportunities in Cambodia. The focus of their interest lies primarily in the digital and technology sectors, as well as the establishment of vehicle assembly factories and the manufacturing of…
A delegation of 17 Chinese industrial firms, led by Shen Mingrong, Chairman of Zhenjiang ZhoungChao New Material Co Ltd, recently met with Prime Minister Hun Manet to discuss their interest in transforming Preah Sihanouk province into a ‘Multi-Purpose Model Special Economic Zone’ (SEZ). The meeting centered around expanding investments, attracting new business ventures, and contributing…
Phnom Penh (FN), Mar. 21 – Prime Minister Hun Manet of Cambodia has emphasized the imperative of continuous investment in vocational and technological training programs for Cambodian Muslims, aimed at augmenting their employment opportunities and socioeconomic empowerment. Addressing attendees at the 2024 Ramadan Iftar dinner in Phnom Penh on Thursday evening (Mar. 21), Prime Minister…
Cambodia, a rapidly developing Southeast Asian nation, is making significant strides toward a more streamlined and transparent tax system. Understanding this system is crucial for businesses and investors seeking to navigate the Cambodian market. This editorial will provide a concise overview of the nation’s taxation landscape and the recent positive developments that are shaping it.…
The Royal Government of Cambodia (RGC) has laid out an ambitious agenda for economic growth and job creation through a three-year Public Investment Programme (PIP), dedicating $11.69 billion to the completion of 617 projects. This strategic initiative was announced by Prime Minister Hun Manet during the 6th Plenary Meeting of the Council of Ministers. Prime…
The Council for the Development of Cambodia (CDC) has recently highlighted a range of incentives for investors who contribute to skills development training for their employees within the nation. This initiative is part of a broader effort to enhance the skill sets of the Cambodian workforce, in line with the Kingdom’s Investment Law which encourages…
Cambodia’s dedication to leveraging the dynamism of startups was prominently showcased at the Startup Ecosystem Forum: Connect 2024 in Phnom Penh, held at Raintree Cambodia. The forum, designed to foster open dialogue, knowledge exchange, and collaborative efforts, brought together investors, startup founders, and mentors to discuss the path forward for Cambodia’s burgeoning startup scene. A…
