Cambodian Economy on a High in 2018

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Re: Cambodian Economy on a High in 2018-2019

Post by CEOCambodiaNews »

Cambodia’s construction sector continues skyscraping performance
By New Straits Times -
December 7, 2019

Investments in the Cambodian construction sector are expected to rise to 78 per cent by the end of the year, compared to 2018.

Its Ministry of Land and Management, Urban Planning and Construction said that investments across the country are expected to be around US$9.3 billion (RM38.9 billion) this year.

Deputy Prime Minister and Minister of Land, Chea Sophara, said the majority of the investments are in the Preah Sihanouk province, and much of it is from China.

In full: https://www.nst.com.my/world/region/201 ... erformance
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Re: Cambodian Economy on a High in 2018

Post by Cooldude »

This is definitely something to keep an eye on.

https://www.msn.com/en-us/money/markets ... ar-BBXuhSC
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Re: Cambodian Economy on a High in 2018

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Not surprisingly, Cambodia's economic growth is forecast to drop in 2020.

COVID-19 Down Grade Cambodia's Economic Groowth to 2.3 Percent
Phnom Penh, April 03, 2020 --
After two decades of strong performance, Cambodia’s economic growth is expected to drop to 2.3 percent in 2020. This is due to the new coronavirus disease (COVID-19) pandemic, the resulting economic slowdown in the major advanced economies and the People’s Republic of China and the country’s reduced access to export markets, according to the Asian Development Bank’s (ADB) flagship annual economic publication Asian Development Outlook (ADO) 2020 released today.

“Cambodia’s economy is expected to rebound to 5.7 percent in 2021, assuming that the pandemic ends and economic activity normalises,” said ADB’s Country Director for Cambodia, Ms. Sunniya Durrani-Jamal. She noted further “Facing unprecedented challenges posed by COVID-19, the Royal Government of Cambodia has taken the right steps to respond to the crisis, including providing wage support for garment workers and tax and credit relief for businesses. The government has also created the fiscal space to minimise the economic impact of this crisis, especially on the most vulnerable people.”
Source: AKP (Cambodian government news)
https://www.akp.gov.kh/post/detail/29107
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Re: Cambodian Economy on a High in 2018

Post by crob »

I feel like any economic growth in 2020 is very optimistic.
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Re: Cambodian Economy on a High in 2018

Post by John Bingham »

crob wrote: Fri Apr 03, 2020 9:35 pm I feel like any economic growth in 2020 is very optimistic.
Agreed, it's going to be in the minus figures. You can see it already. The tourist industry has disappeared and a huge number of local businesses are shut. A few weeks ago I used to face many traffic jams on my way to work, now the streets are as quiet as 2005. Ominous. :?
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Re: Cambodian Economy on a High in 2018

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Economic Prospects for Cambodia and ASEAN Peers
AKP Phnom Penh, April 03, 2020 --

Forecasts by the Asian Development Bank (ADB) Friday showed that ASEAN economies notwithstanding the sharp downturn expected this year, but Cambodia will be less affected by economic shocks than many of its peers, although growth prospects are subject to “significant downside risks”.

The ADB said GDP growth in Cambodia was now forecast at 2.3 percent for 2020, down from 7.1 percent last year but more than twice the regional average of only 1.0 percent.

According to the ADB’s twice-yearly Asian Development Outlook, the average is weighed down by Thailand, where GDP is forecast to contract 4.8 percent this year — reversing 2.4 percent growth last year and “continuing a steady slide in recent years.”

Growth is meanwhile expected to stagnate at close to zero in Singapore (0.2 percent) and Malaysia (0.5 percent). The outlook is better for Brunei and the Philippines (both forecast to grow at 2.0 percent).

ASEAN economies forecast to grow faster than Cambodia this year are led by Vietnam (4.8 percent) followed by Myanmar (4.2 percent), Laos (3.5 percent) and Indonesia (2.5 percent).

For Southeast Asia overall, the ADB said the growth slowdown this year reflected COVID-19 and a consequent global slump, especially given the region’s strong trade and investment ties with a slowing China.
https://www.akp.gov.kh/post/detail/29160
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Re: Cambodian Economy on a High in 2018

Post by Kammekor »

crob wrote: Fri Apr 03, 2020 9:35 pm I feel like any economic growth in 2020 is very optimistic.
Negative growth is not accepted beforehand, only admitted afterwards.

For Cambodia, the collapse of China in February, decline of tourism, withdrawal of EBA, international decline in trade and production and the lock down which will come in a day or 10 will lead to at least -10% in 2020, maybe -20%. Maybe time to diversificate a bit, @Competent Authorities.
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Re: Cambodian Economy on a High in 2018

Post by crob »

Kammekor wrote: Sat Apr 04, 2020 12:02 pm
crob wrote: Fri Apr 03, 2020 9:35 pm I feel like any economic growth in 2020 is very optimistic.
the collapse of China in February,
And people thought Sihanoukville was fuck at the moment, just wait for 5-10 years of those half built construction sites left to rot n collapse, I mean it was highly likely going to be the case, but now it's a guarantee... On the plus side Koh Rong is probably saved
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