Yearender: Cambodia optimistic over rosy economic prospects as political crisis ends

26 December 2014

Cambodia predicts bright economic prospects in the coming year. Finance Minister said 2014 saw a great deal of effort, numerous struggles, and a great deal of patience to overcome difficulties and challenges both inside and outside the country.

He said the country's gross domestic product (GDP) is forecast to grow by 7% to 16.9 billion U.S. dollars for 2014 and around 7% to 18.3 billion U.S. dollars in 2015. Cambodia's economic growth remains reliant on garment exports, tourism, agriculture, and construction, and, as with 2014, the inflation rate will be around 3.5% next year.

The official figures showed that the Southeast Asian nation exported products worth 4.44 billion U.S. dollars in the first nine months of this year, up 12% compared to the same period last year, while tourist industries were buoyed by 3.67 million foreign visitors during the period, up 5% year-on- year.

"For 2015, there is no doubt that the economy will grow well because of full political stability." 

Source:

http://thecambodiaherald.com/cambodia/yearender:-cambodia-optimistic-over-rosy-economic-prospects-as-political-crisis-ends-7928

UYFC Conducts Night Party to Collect Funds for “Angkor Sangkranta” 2015

26 December 2014

The Union of Youth Federations of Cambodia (UYFC) organized here on 22 Dec. a night party aiming to collect funds to host “Angkor Sangranta” in 2015, to be held in April in Siem Reap province, home to Angkor temples.

UYFC has done many works to show the nationalism and initiatives for youths to love the nation. The participants on the youths’ volunteer works ranging from clean city, environmental protection and traffic safety promotion to anti-cancer, blood donation, and rescue of victims during natural disasters, as well as many other humanitarian activities. The annual “Angkor Sangkranta,” hosted by UYFC, is aimed not only to promote the Khmer rich culture, but also to boost the tourism sector while the Kingdom last year recorded some 4.2 millions of foreign tourists.

Source:

http://www.akp.gov.kh/?p=56053

China to fund farming Centre

25 December 2014

The Chinese government has announced its funding of a new agricultural training centre to the tune of $6.7 million, the agreement to establish the Cambodia-China Agriculture Promotion Center.

The official launch of both branches of the centre is expected to happen in late February when 12 Chinese agriculture experts will arrive from China to begin the training. The provinces of Kandal, Kampong Cham, Prey Veng, Kampong Speu, Siem Reap, Takeo and Kampong Chnang are to be targeted for agricultural education program. Cambodia’s agricultural sector, which constituted 34% of its GDP in 2013 according to the World Bank, has received significant international attention in recent days.

Source:

http://www.phnompenhpost.com/business/china-fund-farming-centre

US provides $43.5 mln for agriculture, environment, health programs in Cambodia

25 December 2014

The United States will provide $43.5 million for development of agricultural, environmental and health sectors in Cambodia for 2015.

 
The fund will be provided through the U.S. Agency for International Development (USAID) in support of Cambodia’s National Strategic Development Plan (Two bilateral agreement). The first agreement, signed on November 24, provides $17.9 million towards agriculture, economic opportunity, and environmental protection in Cambodia as part of President Obama’s Feed the Future and Global Climate Change Initiatives.

 
The second agreement, signed on December 1, provides $25.6 million to contribute to the achievement of Cambodia’s national health and nutrition objectives in line with Cambodia’s National Health Sector Strategic Plan and its Strategy for Food Security and Nutrition. These resources will strengthen Cambodia’s health services by bringing better healthcare to more Cambodians, with a particular focus on the poor, women, and children.

Source:

http://thecambodiaherald.com/cambodia/us-provides-435-mln-for-agriculture-environment-health-programs-in-cambodia-7922

EU to Provide EUR 410 million in Grants to Cambodia in 2014-2020

24 December 2014

The European Union (EU) has announced it has allocated EUR 410 million (around US$510 million), under its bilateral cooperation with Cambodia over the period 2014-2020 to continue its support to Cambodia’s progress.

The funds will help to strengthen agriculture and natural resource management, provide better education and implement governance and administration reforms. Many challenges remain and the EU is committed to help Cambodia achieve its ambitious reform agenda particularly in the areas of Education and Skills; Agriculture and Natural Resource Management; and Good Governance and Administration.

In the area of Agriculture and Natural Resource Management, the EU plans to finance activities of up to EUR 144 million; while the ‘Education and Skills’ sector in Cambodia, up to EUR 140 million; and the Good Governance, some EUR 120 million.

Source:

http://www.akp.gov.kh/?p=55945