NBC: E-wallet accounts in Cambodia hit 17.9M in 2022
The number of e-wallet accounts in the Kingdom reached 17.9 million at end-December amid an acceleration in electronic payment volumes driven in part by Covid-19 anxiety, reflecting gradual fintech (financial technology) development towards achieving the government’s digital economy objectives. ...
May Kunmakara
https://www.phnompenhpost.com/business/nbc-e-wallet-accounts-cambodia-hit-179m-2022
NBC calls for more UK investment, exports
National Bank of Cambodia (NBC) assistant governor Chea Serey on February 7 proposed that British businesspeople ramp up their investments in Cambodia and buy more local goods, to strengthen bilateral economic relations and stimulate recovery in the Southeast Asian country following a downturn linked to ...
May Kunmakara
https://www.phnompenhpost.com/business/nbc-calls-more-uk-investment-exports
Policy against economic risks turns to action
The Ministry of Economy and Finance on Tuesday issued two separate letters to its General Department of Taxation (GDT) and its General Department of Customs and Excise (GDCE) ordering immediate action to mitigate risk to the Kingdom’s economy. ...
May Kunmakara
https://www.phnompenhpost.com/business/policy-against-economic-risks-turns-action
Exports to Japan reach $296M
Cambodia exported $296 million of goods to Japan in the first two months of this year, up 2.4 per cent compared to the same period last year, data from the Japan External Trade Organisation (Jetro) shows. Both countries committed to boosting bilateral trade to more ...
May Kunmakara
https://www.phnompenhpost.com/business/exports-japan-reach-296m
Brakes put on auto imports
With the Covid-19 pandemic cutting into the global vehicle and parts manufacturing industry and transforming Cambodians’ spending habits, imports have seen a sharp decline this year. Cambodia imported $600.903 million worth of vehicles and parts in the first five months of the year, plunging 17.39 ...
Hin Pisei
https://www.phnompenhpost.com/business/brakes-put-auto-imports
Cambodia rejects UN rights claim
Cambodia’s Permanent Mission to the UN Office in Geneva on Friday hit back at David Kaye, the UN special rapporteur on the Promotion and Protection of the Right to Freedom of Opinion and Expression after he raised concerns over the repression of free speech and ...
Niem Chheng
https://www.phnompenhpost.com/national-politics/cambodia-rejects-un-rights-claim
Gov’t extends tax holiday for tourism sector
The Cambodian government has announced two months more of tax exemptions for tourism-based businesses in the hope of easing the burden during the pandemic. The extension was announced during the fifth round of COVID-19 economic measures last week as the Ministry of Tourism begins developing ...
Sorn Sarath
https://www.khmertimeskh.com/50750936/govt-extends-tax-holiday-for-tourism-sector/
UK grants GSP status to Cambodia effective 2021
Cambodia’s exports see new light with the granted duty-free and quota-free access to the markets in the United Kingdom, commencing 2021. Sok Sopheak, Secretary of State at the Ministry of Commerce shared that Cambodia will discuss with the UK counterpart on the import and export ...
Lim Nary/AKP
https://www.khmertimeskh.com/50791084/uk-grants-gsp-status-to-cambodia-effective-2021/
CRF head asks city hall to ease market circulation of rice
A prominent rice industry representative on April 19 asked the Phnom Penh authorities to loosen constraints on the movement of milled rice within restricted areas in the capital and adjacent Takmao town, amid a two-week lockdown that has been imposed to contain the current spread ...
May Kunmakara
https://www.phnompenhpost.com/business/crf-head-asks-city-hall-ease-market-circulation-rice
Bank, MFIs operations go on despite lockdown
The Association of Banks in Cambodia (ABC) and the Cambodian Microfinance Association (CMA) on April 23 informed the public that business operations in the industry are continuing as normal nationwide although some areas in the provinces and capital have been placed in lockdown to curb ...
May Kunmakara
https://www.phnompenhpost.com/business/bank-mfis-operations-go-despite-lockdown
Cambodia expects China, RCEP to help boost economic recovery
Amid the raging COVID-19 pandemic, Cambodia’s economy in 2020 registered its slowest growth since 1994. However, the country’s growth is projected to rebound this year, thanks to its newly-signed bilateral free trade agreement with China and the Regional Comprehensive Economic Partnership (RCEP). ...
Khmer Times Staff
https://www.khmertimeskh.com/50847787/cambodia-expects-china-rcep-to-help-boost-economic-recovery/
Minister of Justice again instructs to expedite court proceedings to help resolve prison overcrowding
The Minister of Justice, Mr. Keut Rith, once again instructed the President of the Municipal Court, the Prosecutor of the Capital-Provincial Court to expedite the proceedings in the prosecution, investigation and trial phase to contribute to resolving overcrowding in prisons, especially in the context of ...
Voun Dara
https://www.postkhmer.com/national/2021-10-27-0858-225749.html
Sorasak sees Cambodia-Czech bilateral trade boost in 2022
The trade volume between Cambodia and Czech Republic reached around $126 million in 2019. However, due to the adverse impact of Covid-19, trade between both countries shrank to about $80 million by 2020 and 2021. But Cambodia’s Minister of Commerce Pan Sorasak expects an improvement ...
Sok Sithika
https://www.khmertimeskh.com/501034800/sorasak-sees-cambodia-czech-bilateral-trade-boost-in-2022/
$50M ADB loan aims to boost economic diversity
The Asian Development Bank (ADB) on December 6 announced that it has greenlit a $50 million policy-based loan under Subprogram 1 of its Trade and Competitiveness Program to support government efforts to diversify the economy, better enable local businesses to compete globally, and boost Covid-19 ...
May Kunmakara
https://www.phnompenhpost.com/business/50m-adb-loan-aims-boost-economic-diversity
Khmer Enterprise to double startup and SME investment to $10m
At yesterday’s luncheon discussing Cambodia’s startup and SME ecosystem, Vongsey Vissoth, permanent secretary of state of Ministry of Economy and Finance (MEF), said Khmer Enterprise (KE) will increase its investment portion from $5 million to $10 million as part of the nation’s Covid-19 recovery plans ...
Bun Tharum
https://kiripost.com/stories/cambodia-khmer-enterprise-to-double-startup-sme-investment
IMF, ADB peg 2022 GDP growth at 5%
Two major multilateral lenders have forecast Cambodia’s economic growth for 2022 at around five per cent, buoyed by bumper export performance earlier in the year, coupled with ongoing policy support and continued tourism recovery, but held back by external pressures associated with Covid-19 and the ...
May Kunmakara
https://www.phnompenhpost.com/business/imf-adb-peg-2022-gdp-growth-5
BRI projects will help Cambodia become an upper-middle income country: Cambodian expert
A Cambodian researcher said that the Belt and Road Initiative (BRI) projects will be a contributor to the economic growth in Cambodia and in the region in the post-pandemic COVID-19 era and will help Cambodia achieve its ambitious goal of becoming an upper-middle income country ...
Khmer Times Staff
https://www.khmertimeskh.com/501213631/bri-projects-will-help-cambodia-become-an-upper-middle-income-country-cambodian-expert/
ADB offers Covid recovery package
Cambodia could potentially benefit from a $20.5 billion financial package for the Asia-Pacific committed by the Asian Development Bank (ADB), and use the funds to support its post-Covid-19 economic recovery, as extreme weather events compounded by a worsening regional food crisis and the still-ongoing Ukraine ...
May Kunmakara
https://www.phnompenhpost.com/business/adb-offers-covid-recovery-package
IMF predicts continued recovery for Cambodian economy
An International Monetary Fund (IMF) team led by Davide Furceri, assessed Cambodia’s economy and predicted growth in the coming years. The IMF report reveals that the country’s economy is steadily recovering from the impacts of the COVID-19 pandemic, although it still faces challenges from both ...
Khmer Times Staff
https://www.khmertimeskh.com/501385872/imf-predicts-continued-recovery-for-cambodian-economy/
Tourism recovery roadmap drafted
The Ministry of Tourism has drafted a strategy to serve as its roadmap to rehabilitate and promote the tourism industry during and after the Covid-19 crisis. A meeting between the National Tourism Development Committee and relevant stakeholders on December 24 agreed to divide the 2020-2025 ...
Hin Pisei
https://www.phnompenhpost.com/business/tourism-recovery-roadmap-drafted