Cambodia's oil import expenditure reaches $2.18 billion in 2024

Economy and Industry

Cambodia's oil import expenditure reaches $2.18 billion in 2024 In the first 11 months of 2024, Cambodia's expenditure on oil imports reached a substantial $2.18 billion, marking an 11.3% increase compared to the previous year. This significant rise in imports underscores the country's heavy reliance on imported oil, as its own oil reserves remain untapped. The breakdown of the imports reveals that Cambodia imported $1.3 billion worth of diesel fuel and $876 million worth of petroleum oils. This increase in oil imports is driven by the growing demand for energy in the country, fueled by economic growth and industrial expansion. The Ministry of Mines and Energy has projected that Cambodia's demand for oil products will continue to rise, reaching 4.8 million tons by 2030, up from 2.8 million tons in 2020. (Source: Khmer Times)

Nearly $7 billion in investments approved by the government in 2024 The Cambodian government approved a remarkable 414 investment projects in 2024, totaling nearly $7 billion, which represents a 40% increase from the previous year. This surge in investments is attributed to the country's political stability, improved legal frameworks, and robust economic growth. The approved investments span various sectors, including manufacturing, agriculture, infrastructure, and tourism, reflecting the diverse opportunities available in the Cambodian market. One of the key factors driving this investment boom is the government's commitment to creating a favorable business environment. This includes implementing reforms to streamline investment procedures, reduce bureaucratic hurdles, and enhance transparency. (Source: Khmer Times)

Cambodia achieves record 5.59 million air passenger trips in 2024  Cambodia achieved a record 5.59 million air passenger trips in 2024, reflecting a 22% YoY increase in air travel and highlighting the country's growing appeal as a tourist destination. This impressive rise in passenger numbers is driven by several factors, including the opening of the Chinese-invested Siem Reap Angkor International Airport and the overall growth in tourism. The new airport, with its state-of-the-art facilities and increased capacity, has attracted more international airlines and passengers, boosting Cambodia's connectivity and tourism sector. The airport's strategic location near the Angkor Wat temple complex, one of the world's most famous tourist attractions, has further enhanced its appeal to travelers. (Source: Khmer Times)

Corporate News

1 million TEUs record broken by Sihanoukville Autonomous Port in 2024 Sihanoukville Autonomous Port celebrated a milestone achievement of handling 1 million TEUs (twenty-foot equivalent units) of containers in 2024. This record is a testament to the port's growing capacity and its crucial role in supporting Cambodia's economic growth. The port's expansion, including the inauguration of a new container terminal, has significantly enhanced its ability to accommodate larger ships and increased container traffic. The port's strategic location makes it a vital gateway for Cambodia's trade, facilitating the import and export of goods. The increased container traffic at the port reflects the country's growing trade volume and its integration into the global supply chain. (Source: Khmer Times)

Stock Market

CSX index rebounds 0.27% amid mixed performance on main and growth boards The CSX Index rebounded by 0.27%, closing at 400.3 points. On the main board, PWSA (+1.30%), CGSM (+0.41%), PAS (+0.35%), and PPAP (+0.30%) recorded gains, while PPSP (-0.46%), PEPC (-0.41%), and GTI (-0.40%) posted losses. ABC and MJQE ended the session unchanged. On the growth board, DBDE remained unchanged, while JSL dropped by 0.29%. The trading session concluded with a volume of 48,760 shares and a turnover of KHR 276 million. (Source: YSC Research)

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