Cambodia 20231009

Mekong Memo Cambodia Weekly, October 9, 2023: Business, politics, finance, trade & legal news.

Oct 09, 2023

∙ Paid

We monitor and filter the very best and most insightful stories from Southeast Asia directly to your inbox every week.

By reviewing a wide variety of media including legal, financial and other relevant industries along with government and NGO sources, we are able to sift through the noise and bring you only what we believe to be relevant to an informed observer of Cambodia business news.

The Memo is published weekdays - Cambodia (every Monday), Myanmar (Tuesday), Laos (Wednesday), Vietnam (Thursday) and Thailand (Friday). The Thailand edition is free in its entirety; the others are headlines-only for non-paid subscribers.

Please navigate to https://www.mekongmemo.com/account and turn on/ off whichever editions you would like to receive.

Share The Mekong Memo

Refer three friends and receive a full subscription to The Memo for one month FREE:

Refer a friend

Here is your Mekong Memo Cambodia for the week of October 9, 2023.

Headlines:

Real Estate Boom Catches World Bank's Eye

Thais May Soon Visit Cambodia Without Passports

Investors Turn Their Gaze to Cambodia

Cambodia Boosts Green Standards for Home Appliances

PM Rolls Back Controversial Tax Changes

Siem Reap's Retail Landscape Shifts with Lucky Mall's Exit

Weighing Cambodia's New Minimum Wage Impacts

Digital Vision for 2035 Unveiled

AMRO Adjusts Economic Forecast

Garment Sector Welcomes 6,000 Jobs from Chinese Firm

RCEP: A Catalyst for Cambodia's Economic Surge

ThaiBev's Ambitious $190M Expansion Plan

Electrical Exports Hit $2B Milestone

Business Climate: Resilient Amid Challenges

Artist VannDa Makes Waves in International Hip-Hop

Real Estate Boom Catches World Bank's Eye

The World Bank has highlighted concerns over Cambodia's rapidly expanding real estate credit market, likening it to a form of shadow banking. Despite these concerns, the bank projects Cambodia's economy to grow by 6.1% in 2024, the highest in the ASEAN region. This growth is attributed to the resurgence in manufacturing and tourism sectors. However, the rapid lending growth, especially in the real estate sector, mirrors concerns seen in Vietnam, pointing to potential financial vulnerabilities. The report emphasizes the need for enhanced data collection and monitoring to prevent potential market overheating.

Thais May Soon Visit Cambodia Without Passports

The Government of Cambodia is contemplating allowing Thai tourists to enter the country using only a border pass, eliminating the need for a passport. This proposal, presented by Deputy Prime Minister and Minister of Interior, Sar Sokha, comes after a request from the Thai Prime Minister. While the border pass system is already operational, it currently restricts Thai visitors to border provinces. The feasibility of this expanded access is under review, with discussions pending. Notably, over one million Thai tourists visited Cambodia in the first eight months of 2023.

Investors Turn Their Gaze to Cambodia

Cambodia is gaining traction as a top investment destination in ASEAN, underpinned by its strategic location and burgeoning infrastructure. The ASEAN-Cambodia Business Summit spotlighted the nation's enhanced connectivity initiatives, such as the Speedway Network linking major cities. Cambodia's Special Economic Zones, favorable tax environment, and young, growing workforce further amplify its appeal. The country's commitment to infrastructure, including ports and high-speed internet, combined with its stable financial environment, positions it as a compelling choice for businesses eyeing expansion in the region.

Keep reading with a 7-day free trial

Subscribe to The Mekong Memo to keep reading this post and get 7 days of free access to the full post archives.