Cambodia Earns Nearly $36M from Angkor, Koh Ker, and Chong Khneas Ticket Sales in First Ten Months of 2024
According to a news release by Angkor Enterprise on November 1, 2024, ticket sales to the Angkor Archaeological Park, Koh Ker, and Chong Khneas Tourism Port brought in around USD 36 million for Cambodia in the first 10 months of 2024.
774,203 international visitors bought tickets to the Koh Ker temple and Angkor Archaeological Park during this time, a 28.48% increase over the same period in 2023. Due to this surge of tourists, revenue increased by USD 35,987,961, a 29.07% increase over the previous year.
In an effort to preserve the lives of Cambodian children, the Royal Government gave USD 1,548,406 to Kantha Bopha Hospital.
In 2023, over 790,000 foreign tourists bought tickets to visit Angkor Archaeological Park, earning USD 37,198,988, an increase of 222.68%.
Japan Loan $55M for Phnom Penh City Transmission and Distribution System Expansion Project in Cambodia
On September 6, 2024, Japanese Ambassador to Cambodia Ueno Atsushi, along with Cambodian Foreign Minister Sok Chenda Sophea and International Cooperation, will sign the Exchange of Notes and accompanying documents regarding the extension of loan of JPY 7,988 million (roughly USD 55 million) to implement the Phnom Penh City Transmission and Distribution System Expansion Project.
The loan demonstrates Japan's unwavering commitment to supporting the government of Cambodia in its efforts to promote socioeconomic growth. Additionally, it helps to solidify and expand the two nations' Comprehensive Strategic Partnership further.
Sihanoukville Autonomous Port Plays a Key Role in National Development
The new Cambodia’s economic foundation is the expansion of Sihanoukville Autonomous port’s capacity and connecting it with transport infrastructure is enhancing Cambodia’s logistics system. Cambodia Prime Minister Hun Manet stated that Japan would assist in transforming Sihanoukville Autonomouis Port into the country’s logistic hub.
The terminal expands Sihanoukville Autonomous Port's capacity from 550,000 TEUs to 1 million TEUs per year, improving the port's overall functionality. This is anticipated to raise the port's share of worldwide container traffic from 18% to approximately 38%. Container vessels with a draft of up to 10.4 meters will be able to dock. It is anticipated that the share will increase to 49.25 percent for vessels that operate in the Asia-Pacific region.
For technical control from Nippon Co., Ltd. and Oriental Consultants Global, the Japanese corporation TOA Corporation took on the development project for the extra container terminal. The project cost USD 37.5 million in total when it was finished in August 2024. This includes roughly USD 10 million in concessional loans from the Japanese government, with the remaining USD 27.5 million coming from the Sihanoukville Autonomous Port and a small sum from the Royal Government to pay different taxes (NEWS, PM Praises Progress of Modern Agricultural Communities and Plans On-site Inspection (Video inside), 2024).
Cambodia Approves 338 Projects, Achieves 220% Investment Growth in First 11 Months of Seventh-mandate Government
Aug. 16—First Vice President of the Council for the Development of Cambodia (CDC), Sun Chanthol, declared that 338 investment projects with a total capital exceeding USD 6 billion were approved in the first 11 months of the government led by Cambodian Prime Minister Hun Manet, under the seventh mandate. This represents a 220% increase. This expansion highlights the government's efforts to draw in foreign investors.
He pointed out that during the same 11-month period in the previous mandate, there were 151 approved projects, up from 187, and investment capital surged by 220%, from USD 2 billion to USD 6 billion.
He continued by saying that these outcomes show that investors still have faith in the Royal Government, which is led by Samdech Thipadei Hun Manet. Samdech Thipadei Hun Manet has worked hard to draw in investors from a variety of nations, including Australia, Germany, China, Korea, Japan, France, Switzerland, Australia, and Spain.