The International Monetary Fund says Cambodia’s gross domestic product (GDP) will grow 2.2 percent this year, down from a previous forecast of 4.2 percent annual growth. GDP was minus 3.1 percent last year after average annual growth of 7 percent in previous years. “Although activity showed signs of picking up toward the end of 2020, […]
Read MoreCambodia may not benefit from joining the 130 countries that have signed up for the domestic tax base erosion and profit-shifting (BEPS) policy, according to the ASEAN+3 Macroeconomic Research Office (AMRO). Companies use BEPS to exploit mismatches in tax rules to shift profits to locations with zero or low tax rates. The Organisation for Economic […]
Read MoreThe Asian Development Bank (ADB) has approved an $82 million loan to improve about 48 kilometres of national and provincial roads in Prey Veng and Kandal provinces to boost economic development along the Greater Mekong Subregion (GMS) Southern Economic Corridor. According to an ADB’s press release AKP, the new assistance is the second phase of […]
Read MoreThe National Bank of Cambodia has issued a notice to banks, microfinance institutions and money changers to participate in the bidding for US $ 20,000,000 on September 30, 2021. According to the National Bank of Cambodia, the dollar auction is to keep the riel and the dollar stable on the market. The minimum bid rate […]
Read MoreThe head of the Asian Development Bank (ADB) says Cambodia needs to focus on its struggling industries and improve overall productivity to drive a sustainable recovery from last year’s minus 3.1 percent in gross domestic product (GDP). The bank cut its forecast for 2021 growth last week to 1.9 percent from a 4 percent forecast […]
Read MoreVisa, the global leader in digital payments, has revealed the great potential for the growth of digital banking and payments in Cambodia, where consumers are only just discovering the power of digital. According to a Visa’s press release, while consumer interest has been growing during the COVID-19 pandemic, the Visa Consumer Payment Attitudes study highlights […]
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