trendsarticles

Articles in trends

Employment Trends in Cambodia

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Employment in Cambodia is characterized by a large proportion of the labor force that works in informal economic activities (either self-employed or working for non-registered enterprises). Formal sector employment – despite strong growth – remains small: paid employees account for only 25 percent of the workforce, while the remainder are split roughly equally between self-employment and unpaid family labor. There has not yet been an official consensus on how many workers are engaged in informal economic activities, but the Cambodia Development Resource Institute (CDRI) estimated 95 percent were employed by the informal sector in 2000-2001, while the Economic Institute of Cambodia (EIC) estimated 85 percent (ILO, 2006).

Reality Trends in Cambodia

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Cambodia’s real estate sector enjoyed unprecedented growth from 2006 to mid-2008. During this period the sector created new-found wealth for hundreds and construction jobs for thousands. But in a market fuelled by speculators, prices became overinflated; people became intoxicated on property and are now suffering headaches.

Speculators who a year ago were buying up real estate in the hope of selling it on to developers for a profit, have been left high and dry as prices have fallen.

Property values have fallen by 25-30 per cent in Cambodia and investment in the sector has virtually ground to a halt. Construction investment has fallen 40 per cent; some major projects have been put on hold or cancelled, and the fortunes of many high-flyers have been lost, along with numerous property-related jobs.

Economic Trends in Cambodia

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Cambodia is a country that has risen from the edge of an abyss and transformed itself into a peaceful nation with improved social order, stability, cooperation and development. Building on this, the Royal Government of Cambodia has an ambitious vision to transform Cambodia into a fast-growing regional economy based on agriculture and agro-industries, manufacturing, tourism-related industries, and human resource development. Over the next 10 to 20 years, Cambodia expects to realise its vision by mobilising resources from all sources, both domestically and abroad, to invest in human resource development, institutions and infrastructure - including roads, bridges, seaports, airports, railroads, power, clean water supply, irrigation, and technology.

Agriculture Trends in Cambodia

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Quoted from Neak Oknha Mong Reththy speaking at the 14th Government Private Sector Forum, Nov 2008

An estimated 85 per cent of 14 million Cambodians live in rural areas and depend upon agricultural cultivation as their primary means of subsistence or livelihood. Intervention to improve agricultural performance will greatly benefit a large number of people who are among those most affected by poverty.

The Cambodian agriculture and agro-industry sector has developed significantly in recent years and has great potential for investment, employment creation and as a source for economic growth. For instance, rice production has increased by more than 50 per cent since 2005. However, the sector is starting from a low base and suffers from fragmented and weak supply chains, low productivity and underdeveloped infrastructure. Support structures that will enable increased yield, quality and access to markets are also deficient.

Cambodian Currency

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The official currency of Cambodia is riel ISO 4217 (KHR). There were two issues of Cambodian riel, the first issued was on January 1, 1955, and the second issued was on April 1, 1980.

Brief History of Cambodian Currency

According to Global Financial Data, from the ninth to tenth centuries, Cambodia imported Pyu and Mon coins from the Mon kingdom of Dvaravati, whose remnants can still be found in the central part of present-day Thailand. For a fact, coins were not produced in Cambodia until the sixteenth century. In the 1850s HM King Ang Duong of Cambodia (1841-1859) issued the first machine-made coins, known asCambodian Tical. The Tical was divisible into 8 Fuang and 64 Att.

Banking in Cambodia

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Banking sector in Cambodia is growing and has managed to withstand the onslaught from the global economic crisis, local media reported on Thursday, quoting the director general of the National Bank of Cambodia (NBC).