As the clock ticking, has entered 2022, looking back on the development of 2021, Cambodia has been fighting against the epidemic for more than half of the time, under the effective control of the epidemic, 2022 Cambodia had fully started the journey of economic recovery. Next, let's take a look at the development of Cambodia which continues to open!
Cambodia-China Free Trade Agreement and RCEP take effect on the same day. On January 1, 2022, the Cambodia-China Free Trade Agreement and the Regional Comprehensive Economic Partnership (RCEP) came into force on the same day.
The two agreements will be a major driver for expanding Cambodia's trade in goods, services, and investment, in particular by providing additional markets for hundreds of new projects for Cambodian exports, as well as attracting foreign direct investment FDI) and bringing new jobs to the people.
Moreover, after the implementation of the Cambodia-China Free Trade Agreement and the RCEP, the CFRTA will soon take effect, which will provide more and greater opportunities for the development of the service industry and product trade, investment, and e-commerce. The harvest year 2022 officially set sail!”
OVER A 1.14MILLION VISITORS OVER NEW YEAR'S EVE
Cambodia received more than 1.14 million tourists during the New Year's Eve Festivities, with Zhongjin and Siem Reap attracting the most tourists.
It is reported that compared with the same period last year visitor growth of 63.65%. With the end of the "third round of community transmission of the epidemic," New Year's Eve activities have been organized in various provinces and cities across the country, almost all accommodation services have been booked, and tourism-related industries have been fully recovered.
With the rapid vaccination of Cambodia, tourism in Cambodia will continue to pick up in 2022, which will lead to the accelerated recovery of related industries and promote the rapid development of the economy.
CAMBODIA'S ECONOMIC GROWTH RATE MAY REACH 5% IN 2022!
The National Bank of Cambodia (NBC) recently released a report on the macroeconomic and banking development in 2021 and the outlook for 2022. The bank expects Cambodia's gross domestic product (GDP) to grow at an annual rate of 5% in 2022, according to the report.
The report pointed out that Cambodia's economic growth in 2022 will mainly benefit from the export growth of garment products and non-textile products, in particular, to promote the diversification of Cambodian exports, including electrical products and bicycle exports. And along with the national income level and the international direct investment increase, also will drive the construction and the immovable industry gradually resume growth.
With the implementation of various policies, it is conceivable that Cambodia's investment projects and elite talents will continue to settle in. With the gradual improvement of all kinds of supporting facilities, the future development of Cambodia still has unlimited possibilities. Only by seizing the opportunities for development in Cambodia and choosing high-quality investment projects, will be able to enjoy the dividends brought by the development of the whole country!
PHNOM PENH, CAMBODIAENJOY FIVE-STAR HOTEL SERVICE IN WEALTH MANSION
Wealth Mansion, the Department of Cambodia Wankang International Investment and Development Co., Ltd. Phnom Penh to create a first-line Riverview mansion.The project site is located on the east bank of the Tonle Sap River, with out-of-print Jiangwan level ecological resources of Mekong, Baise River, and the three rivers crossing the river.Wells Residence is located in the "Phnom Penh Lujiazui," said the Shui Jinghua District, close to the new City Hall, the Asian Games Club, forward-looking urban planning, and high-standard municipal support. In terms of transportation, Wealth Mansion is only 3 kilometers away from attractions such as the Royal Palace of Phnom Penh and Independence Monument, and only 2 kilometers away from the Municipal Section, the Canadia Bank Financial Section, and the Prime Minister's Office. Water, land, and rail transportation can reach every corner of the city.
The Wealth Mansion project has a total height of 166 meters and a height of 45 floors. It is currently the highest approved building in the region. The total construction area of the project is about 140,000 square meters.