Property News Roundup 24th February 2025
We’re delighted to share the weekly news highlights below.
- Kingdom earns nearly $190M from rice export in January
In January 2025, Cambodia’s rice exports reached nearly $190 million, reflecting the country’s ongoing efforts to boost its rice industry. This achievement aligns with the government’s ambitious goal to export 1 million tonnes of milled rice annually by 2025. To support this objective, Cambodia and China signed a new agreement increasing the rice export quota to China from 400,000 to 500,000 tonnes, effective January 1, 2025. Additionally, the Cambodian government has implemented initiatives such as the Rice Export Guarantee Scheme (REGS), a $30 million portfolio guarantee launched in May 2024. This scheme aims to enhance the productivity and competitiveness of Cambodia’s rice industry by providing financial support to millers and exporters. These strategic efforts have significantly contributed to the growth of Cambodia’s rice exports, positioning the country as a key player in the global rice market.
February 17th, 2025 | Khmer Times | Link: t.ly/RWJ6Z
- Cambodia’s apparel imports rise 34% to $949 mn in Jan 2025
In January 2025, Cambodia’s apparel exports surged by 34.85%, reaching nearly $950 million and significantly boosting the nation’s foreign income. Both knitted and non-knitted apparel categories experienced substantial growth, indicating a robust start to the year. This surge reflects rising global demand and showcases the resilience of Cambodia’s apparel industry amid challenging economic conditions.
February 16th, 2025 | FIBRE2FASHION | Link: t.ly/CTOmy
- 28 million people have visited Angkor since 2000
Since 2000, Angkor Archaeological Park in Cambodia has welcomed approximately 28 million visitors, generating over $1 billion in revenue from ticket sales. In 2023, the park saw nearly 800,000 foreign tourists, with December alone accounting for 98,073 visitors and $4.65 million in revenue. The COVID-19 pandemic led to a significant decline in tourism, but recent data indicates a strong recovery. In the first seven months of 2024, the park attracted 584,375 international tourists, a 33% increase from the same period in 2023, resulting in $27.17 million in ticket sales. The top five countries contributing to these numbers were the United States, Britain, France, South Korea, and China. This resurgence underscores Angkor’s enduring appeal as a premier global heritage destination.
February 17th, 2025 | Khmer Times | Link:t.ly/Y1pr8
- THACO invests $1B in Cambodia agriculture, eyes $800M yearly revenue by 2028
Vietnam’s Truong Hai Group Corporation (THACO), through its subsidiary THACO AGRI, has invested $1 billion in Cambodia’s agricultural sector since 2018, focusing on large-scale plantations and animal husbandry in Kratie and Ratanakiri provinces. The company aims to generate $800 million in annual profits by 2028. Currently, THACO AGRI contributes $35 million in taxes annually and employs 40,000 local workers across approximately 35,000 hectares of operations. The company’s primary product is bananas, with by-products utilized as fertilizers and animal feed. In Kratie, a $495 million project includes banana and durian plantations, along with cattle farming. Ratanakiri hosts seven companies operating over 24,000 hectares with an $800 million investment. THACO AGRI aims to become a leading agricultural corporation in the ASEAN region by 2025.
February 17th, 2025 | The Phnom Penh Post | Link:t.ly/02KNT
- UBE Snuol SEZ expands, generates thousands of jobs
The UBE Snuol Special Economic Zone (SEZ) in Cambodia has undergone significant expansion, leading to the creation of thousands of jobs. This development is part of a broader trend of SEZ growth in the country, with the Cambodian Special Economic Zone Board (CSEZB) and the Cambodian Investment Board (CIB) approving 15 investment projects worth $218.3 million, expected to generate over 17,000 jobs. Additionally, the recent launch of the ISI Special Economic Zone in Sihanoukville, spanning over 800 hectares, further underscores Cambodia’s commitment to economic development through SEZs. These initiatives aim to attract foreign investment, boost exports, and stimulate local economies, contributing to the nation’s overall economic growth.
February 18th, 2025 | Khmer Times | Link:t.ly/0rcRX
- Enhancing ASEAN Integration: The Role of Cross-Border Bus Transportation
Cross-border bus transportation is pivotal in advancing ASEAN regional integration by offering affordable and efficient mobility solutions for millions of travelers. Countries such as Malaysia, Vietnam, Cambodia, and Thailand are at the forefront of this development, with Thailand’s Greenbus Express making significant contributions to connectivity in the region. These services not only facilitate economic interconnectivity but also support tourism and enhance the mobility of ASEAN citizens. The expansion of cross-border bus networks underscores ASEAN’s commitment to fostering greater regional cooperation and integration.
February 18th, 2025 | Modern Diplomacy | Link:t.ly/s4PvN
- NBC raises Cambodia’s FY25 growth forecast to 6.2 percent
The National Bank of Cambodia (NBC) has updated its economic growth forecast for fiscal year 2025, now projecting a 6.2% growth rate. This revision comes as a result of Cambodia’s strong economic performance and resilience, despite global economic challenges. The updated projection highlights the country’s ability to navigate economic uncertainties and remain on a positive growth trajectory. The NBC’s revision reflects confidence in Cambodia’s economic outlook, driven by factors such as investment, trade, and domestic growth. The revised forecast also reflects the country’s commitment to sustaining stability and growth, positioning Cambodia for continued success in the regional and global economy.
February 18th, 2025 | Khmer Times | Link:t.ly/Lx0AC
- Next phase of Funan Techo Canal construction to start
The Funan Techo Canal project, a monumental $1.7 billion infrastructure initiative, is set to enter its next phase of construction. This phase includes the development of three inlet valves in Kandal, Takeo, and Kep provinces, designed to prevent saltwater intrusion and regulate freshwater flow into the sea. The canal, spanning 180 kilometers, aims to connect Phnom Penh to the Gulf of Thailand, enhancing Cambodia’s waterway transportation and economic autonomy. Construction commenced in August 2024, with an expected completion date in 2028. The project is being executed under a Build-Operate-Transfer (BOT) model, with 51% of funding provided by public enterprises and local companies, and the remaining 49% by the China Road and Bridge Corporation (CRBC).
February 19th, 2025 | Khmer Times | Link:t.ly/DP7kM
- Chinese firm wins bid for $230M solar project in Cambodia
A Chinese company has secured a $230 million contract to develop a solar power project in Cambodia. This initiative is part of Cambodia’s strategy to diversify its energy sources and reduce reliance on imported electricity. The project aims to enhance the country’s energy security and promote sustainable development. The solar facility is expected to generate a significant amount of electricity, contributing to the national grid and supporting economic growth. This development underscores Cambodia’s commitment to renewable energy and its efforts to attract foreign investment in the energy sector.
February 24th, 2025 | Khmer Times | Link:t.ly/s7a-Q
- Starlink – SpaceX says Cambodia is a priority among its investment targets in 2025
Starlink, a satellite internet service under SpaceX, has named Cambodia as one of its top investment priorities for 2025. On February 20, 2025, Starlink’s Director of Market Access, Rebecca Hunter, met with Prime Minister Hun Manet at the Peace Palace to discuss potential collaborations. Hunter expressed interest in Cambodia’s growing tech landscape and its market potential for Starlink’s satellite internet services. Prime Minister Hun Manet welcomed the initiative and emphasized Cambodia’s commitment to advancing its technology sector, aligning with global advancements. This meeting is a part of SpaceX’s broader strategy to expand its services in emerging markets and strengthen global internet connectivity.
February 21st, 2025 | Khmer Times | Link:t.ly/Dx_oS