The government is proactively addressing economic risks and uncertainties through a structural reform plan aimed at improving competitiveness and diversification, International Monetary Fund (IMF) senior economist Jarkko Turunen said on Friday.
Cambodia approved a total of 831 investment projects worth more than $22.56 billion between January 2016 and August this year, according to data released on Thursday by the Council for the Development of Cambodia (CDC).
Cambodia’s economy currently faces challenges including credit growth in the construction and real estate sectors, rising indebtedness and the possible withdrawal of the EU’s Everything But Arms (EBA) agreement, said the World Bank Group’s latest forecast report on the Asia-Pacific economies.
The National Assembly on Tuesday approved the Kingdom’s draft law on e-commerce.
Cambodia and Vietnam last weekend signed several memorandums of understanding (MoUs), according to a joint statement issued by Cambodia’s Ministry of Foreign Affairs and International Cooperation on Saturday.
The government collected some $4.567 billion in revenue from customs and taxation during the first nine months of this year.
An Asian Development Bank (ADB) report released on Wednesday said the Cambodian economy remains on track for strong growth of seven per cent this year, with 6.8 per cent forecast for next year.
Cambodia has expressed no interest in applying for a loan from the Asian Infrastructure Investment Bank (AIIB), even as it announced it will invest another $1.09 billion in six projects in Asean countries.
Cambodian exports to the US increased 29.73 per cent during the first seven months of this year on the same period last year, data from the US Census Bureau shows.