Cambodia aims for 7.5 million tourists in 2025

Economy and Industry

Cambodia aims for 7.5 million tourists in 2025 Cambodia's tourism sector is poised for significant growth, with the country aiming to attract up to 7.5 million international tourists in 2025. In 2024, Cambodia welcomed 6.7 million foreign visitors, a 23% increase from the previous year, generating $3.63 billion in revenue. The tourism sector contributed 9.4% to the country's GDP and created 510,000 direct jobs. Key attractions include UNESCO World Heritage sites such as the Angkor Archaeological Park and the Temple of Preah Vihear, as well as a pristine coastline stretching 450 km. The Ministry of Tourism has outlined strategies to sustain growth, including targeting new markets, enhancing visa processes, and reducing fees. These efforts aim to make Cambodia a leading destination in Southeast Asia and support the country's economic development. (Source: Khmer Times)

MSME sector thrives amidst 6% growth Cambodia's micro, small, and medium enterprises (MSMEs) have experienced significant growth, driven by the country's robust economic expansion, which reached a 6% growth rate with 1,300 new Micro, Small, and Medium Enterprises (MSMEs) in 2024. The Royal Government of Cambodia (RGC) has implemented strategic policies and incentives to support the growth of MSMEs, recognizing their critical role in the national economy. Despite challenges such as limited access to financing and a shortage of skilled workers, the RGC is committed to creating a conducive environment for MSMEs to thrive. The government's efforts include offering tax breaks, skills development programs, and enhancing digital infrastructure to support the growth of small businesses. (Source: Khmer Times)

Industrial output in Cambodia exceeds $15 billion In 2024, Cambodia's industrial sector produced goods valued at approximately $15.2 billion, marking a 7% decline from the previous year. Despite this decrease, the sector remains a significant contributor to the country's economy, with over $11 billion worth of products exported to international markets. The Ministry of Industry, Science, Technology, and Innovation reported that Cambodia had 2,425 large-scale factories employing around 1.1 million workers as of last year. The cumulative investment capital in the industrial sector reached approximately $20 billion. Key industries driving this growth include garment manufacturing, agriculture, and construction. As Cambodia continues to develop its industrial capabilities, the sector is expected to play a crucial role in achieving the government's vision of becoming a high-income country by 2050. (Source: Khmer Times)

Corporate News

Malaysian company considers expanding dairy production in Cambodia Malaysia-based Farm Fresh Bhd is exploring the possibility of expanding its dairy production operations in Cambodia. This private-sector investment is expected to significantly improve Cambodia's food security and self-sufficiency in fresh milk, which is currently reliant on imports. Agriculture and Food Security Minister Datuk Seri Mohamad Sabu discussed the potential expansion with Cambodia's Minister of Agriculture, Forestry, and Fisheries, Dith Tina. The discussions focused on land and technical issues, with both parties expressing optimism about the project's prospects. The expansion of dairy production in Cambodia aligns with the broader goal of enhancing food security and fostering collaboration between the two countries. (Source: Khmer Times)

Stock Market

CSX index gains 0.24% amid mixed stock performance The CSX index was up by 0.24%, closing at 414.6 points. On the main board, ABC (+0.82%) and PWSA (+0.64%) led the gains, while PPAP (-0.54%) and PEPC (-0.40%) posted losses. GTI, PPSP, PAS, MJQE, and CGSM remained unchanged. On the growth board, DBDE and JSL were down by 0.48% and 0.33%, respectively. The session recorded a total trading volume of 51,389 shares, with a turnover of KHR 344 million. (Source: YSC Research)

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