Economy and commerce

Remittances fall 17% to $1.2B in 2020: NBC data

Cambodia received $1.2 billion in remittances from migrant workers abroad last year, marking a sharp 17 per cent drop from $1.5 billion in 2019, the National Bank of Cambodia reported. ...

May Kunmakara
https://www.phnompenhpost.com/business/remittances-fall-17-12b-2020-nbc-data

Trade with Vietnam jumps 22% in Q1 to record $3.9B

Cambodia-Vietnam trade sharply increased by 22 per cent in the first quarter of 2021 on a yearly basis, reaching a record high of $3.892 billion, despite tightened border controls over fears of spreading the Covid-19 pandemic, according to the Vietnamese embassy in Phnom Penh. ...

May Kunmakara
https://www.phnompenhpost.com/business/trade-vietnam-jumps-22-q1-record-39b

Almost 80,000 tourists registered in first weekend of June

A total of 76,698 domestic visitors toured the country, especially ecotourism areas, during first weekend of this month, according to Thong Khon, Cambodian Minister of Tourism. ...

Khmer Times Staff
https://www.khmertimeskh.com/50869919/almost-80000-tourists-registered-in-first-weekend-of-june/

Kingdom’s oil dreams live on even after driller files for liquidation

KrisEnergy Ltd, the operator of the Apsara oil field development offshore Cambodia, has confirmed that all operations of its subsidiary in Cambodia, KrisEnergy (Cambodia) Ltd, will continue as normal, despite its parent company filing for liquidation on June 4, according to a senior official of ...

May Kunmakara
https://www.phnompenhpost.com/business/kingdoms-oil-dreams-live-even-after-driller-files-liquidation

Gov’t Covid stimulus and relief spending tops $335Mn

With Cambodia’s relief measures up for renewal later this month, it has come to light that the Government’s Covid-related assistance spending topped $335 million since the introduction of  payments to the financially vulnerable last June. ...

Husain Haider
https://www.khmertimeskh.com/50867851/govt-covid-stimulus-and-relief-spending-tops-335mn/

Pepper exports increase 200% in first five months

Some 7,461 tonnes of Cambodian pepper were exported to foreign markets from January to May 2021, according to Veng Sakhon, Minister of Agriculture, Forestry, and Fisheries. ...

Khmer Times Staff
https://www.khmertimeskh.com/50867270/pepper-exports-increase-200-in-first-five-months/

FDI inflows drop 1% to $3.5B

The value of foreign direct investment (FDI) into the Kingdom registered a slight fall in 2020 amid a much sharper contraction among non-banking sectors and uncertainty over the evolution of the Covid-19 pandemic, but inflows into the financial sector remained strong. ...

May Kunmakara
https://www.phnompenhpost.com/business/fdi-inflows-drop-1-35b

CCC, Japan to organise more trade meets

The Cambodia Chamber of Commerce (CCC) has renewed its support for the Japan External Trade Organisation (Jetro) in organising trade meetings between Cambodian and Japanese businesses to promote better trade cooperation between the two countries. ...

Thou Vireak
https://www.phnompenhpost.com/business/ccc-japan-organise-more-trade-meets

Investment in construction crumbles under pandemic

The global health crisis caused by the Covid-19 outbreak has dragged down investment in the Cambodian construction sector, which had shown positive signs for several years in a row. ...

Hin Pisei
https://www.phnompenhpost.com/post-property/investment-construction-crumbles-under-pandemic

Cambodian economy can grow by four percent this year

The Asian Development Bank (ADB) has projected that the Cambodian economy will grow by 4 percent this year and 5.5 percent next year, led by a robust recovery of its major trade partners. ...

Khmer Times Staff
https://www.khmertimeskh.com/50864730/cambodian-economy-can-grow-by-four-percent-this-year/

Two new investment projects approved by CDC

The Council for the Development of Cambodia (CDC) has issued investment certificates to Fu Bi Xing (Cambodia) Packaging Co., Ltd and Sheng He Leisure Bag (Cambodia) Co., Ltd for the production of travel bags and goods in the Kingdom. ...

Gareth Johnson
https://www.khmertimeskh.com/50864368/two-new-investment-projects-approved-by-cdc/

Cambodia trade with China hits $3 billion

Bilateral trade between Cambodia and China increased by 19.7 percent to $3 billion during the first four months of this year, according to the Ministry of Commerce. ...

Husain Haider
https://www.khmertimeskh.com/50863783/cambodia-trade-with-china-hits-3-billion/

Cambodia’s Thailand exports fall 41 percent in first four months

Cambodian exports to neighbouring Thailand were valued at $402 million in the first four months of this year, a 41 percent decrease compared with the same period last year. ...

Chea Vanyuth
https://www.khmertimeskh.com/50863906/cambodias-thailand-exports-fall-41-percent-in-first-four-months/

Draft Law on SMEs finished, en route to industry minister

The Ministry of Industry, Science, Technology and Innovation plans to submit a Draft Law on Small and Medium Enterprises to the Ministry of Economy and Finance soon for further review and input, after a technical working group completed the document. ...

Thou Vireak
https://www.phnompenhpost.com/business/draft-law-smes-finished-en-route-industry-minister

Exports of crude palm oil up 36% in Jan-May

Cambodia exported 19,916 tonnes of crude palm oil in the first five months of 2021, an increase of 5,246 tonnes or 35.76 per cent compared to the same period last year, according to data from the Ministry of Agriculture, Forestry and Fisheries. ...

Thou Vireak
https://www.phnompenhpost.com/business/exports-crude-palm-oil-36-jan-may

4.1 million tonnes of agricultural products exported in first five months

Cambodia exported some 4.1 million tons of agricultural products in the first five months of this year, a 1.1 million increase over the same period last year. ...

Khmer Times Staff
https://www.khmertimeskh.com/50862233/4-1-million-tonnes-of-agricultural-products-exported-in-first-five-months/

Cambodia-Japan trade sees 6.6 percent increase in Q12021

Bilateral trade  in Q1 2021 between Cambodia and Japan grew by 6.6 percent compared with the same period in 2020, rising to $632 million. ...

Chea Vanyuth
https://www.khmertimeskh.com/50861827/cambodia-japan-trade-sees-6-6-percent-increase-in-q12021/

‘New normal’ recovery map afoot

Cambodia is designing policy for 2021-2023 to chart a path for sustainable and inclusive economic recovery from the Covid-19 crisis, with an approach that ensures peace, security, social stability and public order on the path to the “new normal”, enhances competitiveness and promotes economic diversification ...

Hin Pisei
https://www.phnompenhpost.com/business/new-normal-recovery-map-afoot

Cambodia “Preparing To Welcome Back Foreign Tourists In Q4”

A new video released by the Ministry of Tourism seems to indicate that Cambodia is preparing to welcome back tourists in the 4th quarter of 2021, in a move designed to “revive Cambodia’s tourism industry hit hard by the global COVID-18 crisis” ...

Khmer Times Staff
https://www.khmertimeskh.com/50860697/cambodia-preparing-to-welcome-back-foreign-tourists-in-q4/

Kampot pepper exports remain strong amid pandemic

Kampot pepper exports have weathered the economic storm created by COVID-19 and continue to remain a strong export product for the Kingdom, according to President of the Kampot Pepper Promotion Association (KPPA) Nguon Lay.   ...

Brian Badzmierowski
https://www.khmertimeskh.com/50860038/kampot-pepper-exports-remain-strong-amid-pandemic/

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