Economy and commerce

Cambodia sold more than $6.8186 billion worth of garments, footwear and travel products on international markets in the first eight months of 2021, according to the Ministry of Commerce. ...

Cambodia’s tourism industry is gearing up to roll out the red carpet for Chinese travellers after Prime Minister Hun Sen on September 17 indicated that the Kingdom could soon throw open its doors to international holidaymakers vaccinated against Covid-19 – starting with guests from China. ...

The Cambodia Microfinance Association (CMA) has disbursed a total $7.730 billion in loan to a close of 2 million customers in the first half of this year. ...

Australia plans to provide about A$90 million (US$66 million) in funding to Cambodia for a new bilateral project dubbed “Resilience Economic Development”, according to the Council for the Development of Cambodia (CDC) on September 15. ...

Local publicly-listed firm RMA (Cambodia) Plc is planning to set up the Kingdom’s first motor vehicle assembly plant, to capitalise on the rising consumer demand for brand-new personal vehicles seen in recent years. ...

Renaissance Minerals (Cambodia) Limited, based in Australia, has obtained a search and explore license of 107.10 square kilometers of metal mining in Memot district, Tbong Khmum province. According to a senior official of the Ministry of Mines and Energy. ...

The government is putting more pressure on Cambodia’s small and medium-sized enterprises (SMEs) to register with the Commerce Ministry and the Tax Department. It wants them to go legitimate in order to protect consumers and make sure it doesn’t miss out on revenue. ...

Prime Minister Hun Sen tells customers affected by investing in Gold FX (GOLDFX INVESTMENT CO., LTD) to file a complaint to the court to seek justice in case the two parties do not reach compromise. ...

The Ministry of Post and Telecommunications, in collaboration with The Idea Consultancy Co Ltd and UN Development Programme (UNDP) Cambodia, is set to host “The Grand Online Shopping Fest” from September 17-19. ...

The rapid pace of Cambodia’s coronavirus vaccination campaigns and subsequent booster shot drives will be key to a faster economic reopening, according to a senior World Bank official on September 13. ...

Negotiations on sanitary and phytosanitary (SPS) commitments for a number of potential Cambodian agricultural exports to China have made remarkable progress at a brisk pace, according to the Kingdom’s top agriculture official on September 13. ...

Vietnam will impose a zero percent tax rate on 31 commodities imported from Cambodia such as live poultry, poultry meat and by-products, lemons and rice. ...

The value of imports and exports passing through the Sihanoukville Special Economic Zone (SSEZ) reached $1.373 billion in the first eight months of 2021, an increase of 44.37 per cent year-on-year, the operator reported.   ...

The sanitary and phytosanitary standard on potential agricultural products are being negotiated to boost more exports from Cambodia to China. ...

Groups representing US and European businesses in Cambodia have welcomed the Draft Law on Investment, which was approved by the National Assembly last week. ...

Cambodia is committed to harnessing digitalisation for better coordination in tax administration, as a jurisdiction that subscribes to China’s Belt and Road Initiative (BRI), according to a General Department of Taxation (GDT) press release issued on September 12.   ...

As ASEAN continues to grapple with Covid-19 cases and an uncertain recovery, its economic ministers have committed to conducting a study on a region-wide digital economy pact by 2023. ...

Cambodia has organised for 18 companies to take part in the 18th China-ASEAN Expo, held in Nanning city of China’s Guangxi Zhuang Autonomous Region, according to the Ministry of Commerce. ...

Cambodia is reportedly keen to set up a new joint team with the Eurasian Economic Union (EAEU) to conduct a more detailed examination of the possibility of formally launching free trade agreement (FTA) talks with the bloc soon, and add impetus to underwhelming bilateral trade ...

Cambodia’s exports in the first eight months this year saw a decrease, official figures showed. Its exports were worth  $11.086 billion, inching down 5.3 percent compared with the same period last year, according to a study by the Ministry of Commerce. ...