NBC: 4% economic growth in 2021
The National Bank of Cambodia (NBC) on December 31 forecast that the Kingdom’s economic growth will return to four percent growth this year if Covid-19 vaccines can successfully curtail the spread in the first half. The central bank’s forecast published in its Macroeconomic and Banking ...
May Kunmakara
https://www.phnompenhpost.com/business/nbc-4-economic-growth-2021
Ministry mulls ASEAN+3 travel bubble
The Ministry of Tourism plans to launch a travel bubble allowing transit between Cambodia and 12 other regional countries in a bid to resuscitate the tourism sector amid the crushing impact of the ongoing spread of Covid-19, Ministry of Tourism spokesman Top Sopheak told The ...
May Kunmakara
https://www.phnompenhpost.com/business/ministry-mulls-asean3-travel-bubble
Cambodia promotes digitalisation of economy and society
Digital technology will play an increasingly important role in spurring economic recovery after the COVID-19 crisis as well as promoting a new, sustainable and more resilient economy, President of the Cambodian National Assembly Heng Samrin said at the first plenum of the 42nd General Assembly ...
Khmer Times Staff
https://www.khmertimeskh.com/50922385/cambodia-promotes-digitalisation-of-economy-and-society/
Bilateral trade with Japan up 12% to nearly $2B in Jan-Oct
Standing as one of the largest economies in Asia, Japan is quickly becoming a prime market for Cambodian goods. Even with both economies embroiled in the Covid-19 crisis, bilateral trade managed to reach $1.96424 billion in the first 10 months of 2020, climbing by 12.2 ...
May Kunmakara
https://www.phnompenhpost.com/business/bilateral-trade-japan-12-nearly-2b-jan-oct
Cambodia continues selling US dollars to stabilise exchange rates
The National Bank of Cambodia (NBC) announced on September 19 that it will continue holding two auctions of US dollars (each worth 10 million USD) on September 20 and 22, to ensure exchange rate stability, maintain the purchasing power of the Cambodian riel, and support ...
Khmer Times Staff
https://www.khmertimeskh.com/501363489/cambodia-continues-selling-us-dollars-to-stabilise-exchange-rates/
‘Build Plus 3D’ tourism action plan highlights five strategies to revive sector
Newly-minted Minister of Tourism Sok Soken is implementing a new tourism strategy and action plan called “BUILD Plus 3Ds” to propel tourism development in Cambodia after being hit hard by Covid-19, and further compounded by the ongoing Russia-Ukraine war, which is impacting travel expenditure. ...
May Kunmakara
https://www.phnompenhpost.com/business/build-plus-3d-tourism-action-plan-highlights-five-strategies-revive-sector
Siem Reap airport to ‘boost’ tourism
The private sector in Siem Reap’s tourism industry is optimistic that the new Siem Reap-Angkor International Airport (SAI), set to officially open in early December, will boost international tourist numbers. The rise is anticipated despite the currently low numbers of international arrivals, a lingering effect ...
Hin Pisei
https://www.phnompenhpost.com/business/siem-reap-airport-boost-tourism
CGCC-guaranteed loans jump 13% year-to-date, top $104M
Credit Guarantee Corporation of Cambodia Plc (CGCC) reportedly issued a total of 1,155 Letters of Guarantee (LG) for loans worth $104.9 million equivalent as of February 28 – up 13 per cent year-to-date – as part of its mission to improve financial inclusion among small- ...
May Kunmakara
https://www.phnompenhpost.com/business/cgcc-guaranteed-loans-jump-13-year-date-top-104m
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
A serious concern: Cambodians’ $8 billion microfinance debt
Impending COVID-19 health measures and high levels of micro debt pose a serious concern for the approximately 2.4 million Cambodians with a combined outstanding debt of $8 billion, according to a World Bank report released this week. ...
Harrison White
https://www.khmertimeskh.com/50708402/a-serious-concern-cambodians-8-billion-microfinance-debt/
Domestic salt industry feeling the pinch of the pandemic
A local salt producer says that her company’s exports have been stuck in stasis by the COVID-19 pandemic and tough competition among local producers is making things even tougher. Thaung Thyda, the founder of Thaung Enterprise, says her company was focused on exports but with ...
Sok Chan
https://www.khmertimeskh.com/50803231/domestic-salt-industry-feeling-the-pinch-of-the-pandemic/
CRF: Bumper 2021 for organic rice
Cambodia exported 11,200 tonnes of organic milled rice to international markets in 2020, a slight 1.2 per cent increase over 2019, according to the Cambodia Rice Federation (CRF). While the milled-rice export sector by and large chalks up 2020’s lacklustre growth performance to the ongoing ...
Hin Pisei
https://www.phnompenhpost.com/business/crf-bumper-2021-organic-rice
Cambodian exports to US show strength in 2020
Cambodia’s 2020 exports to the US remained strong despite the COVID-19 pandemic crisis as the Kingdom’s exports to its other primary trading partners declined. Figures from the US Census Bureau showed that Cambodia exported $6.577 billion of goods to the world’s largest economy, a year-on-year ...
Chea Vanyuth
https://www.khmertimeskh.com/50811365/cambodian-exports-to-us-show-strength-in-2020/
Project aims to aid 10,000 of the most vulnerable hit by virus
The Ministry of Agriculture, Forestry and Fisheries (MAFF) and the Food and Agriculture Organization of the United Nations (FAO) will sign a project agreement today to directly support 10,000 of the most vulnerable people affected by the COVID-19 pandemic in Siem Reap and Banteay Meanchey ...
Sok Chan
https://www.khmertimeskh.com/50814531/project-aims-to-aid-10000-of-the-most-vulnerable-hit-by-virus/
Kingdom-US trade surges 33% in six months
Bilateral trade between Cambodia and the US remained resilient in the first half of 2021, clocking in at $3.8402 billion, or a 32.8 per cent surge from the $2.8917 billion booked in the same period last year, despite the profound implications of the Covid-19 pandemic ...
Thou Vireak
https://www.phnompenhpost.com/business/kingdom-us-trade-surges-33-six-months
Cabinet okays $8B for 2022 gov’t spending
The Cabinet on October 22 gave the nod to a draft budget of $8.013 billion for public spending in 2022, an increase of 6.8 per cent year-on-year, in a move expected to help power a prompt economic recovery as the Kingdom emerges from the ravages ...
Hin Pisei
https://www.phnompenhpost.com/business/cabinet-okays-8b-2022-govt-spending
Siem Reap’s SAI welcomes first flight
Siem Reap Angkor International Airport (SAI) welcomed its first flight on October 16, marking a significant milestone in Cambodia’s tourism development post-Covid-19. During the reception for the inaugural commercial flight to SAI, Vongsey Vissoth, Deputy Prime Minister and Minister in charge of the Council of Ministers, ...
Van Socheata
https://phnompenhpost.com/business/siem-reaps-sai-welcomes-first-flight
Fish, frogs to boost local food supply
The government has disbursed more than $4.5 million to boost aquaculture production and domestic market supply amid the Covid-19 pandemic. Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post on Monday that in boosting agricultural production, the ministry has received financing from development ...
Thou Vireak
https://www.phnompenhpost.com/national/fish-frogs-boost-local-food-supply
CRF requests year-long loans for rice millers
The Cambodia Rice Federation (CRF) has asked the state-owned Agricultural and Rural Development Bank (ARDB) to extend its loan repayment period to 12 months to help rice millers buy paddy. The request was made on Wednesday at a meeting with Cambodia Chamber of Commerce (CCC) ...
Thou Vireak
https://www.phnompenhpost.com/business/crf-requests-year-long-loans-rice-millers
France maintains $100M pledge for Cambodia
The French government through the French Development Agency or Agence Française de Développement (AFD) has maintained its annual financing commitment at about $100 million as a concessional loan for Cambodia to develop and recover the country’s post-Covid-19 economy in line with its national development strategy ...
Kang Sothear
https://www.khmertimeskh.com/501155615/france-maintains-100m-pledge-for-cambodia/