Economy and commerce

New investment law to attract more investments

The New investment law is expected to make Cambodia an attractive destination for new investment and to improve the investment environment to keep the existing investments in the country. The law is currently in drafting stage and is expected to go online within this year, ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50743474/new-investment-law-to-attract-more-investments/

After FTA with China, S. Korea next in line to negotiate free trade agreement

A free trade agreement negotiation between Cambodia and the Republic of Korea has been scheduled to kick-start shortly. This was said by Pan Sorasak, Minister of Commerce when meeting Park Heung-Kyeong, Ambassador of S. Korea to Cambodia, at the ministry office. ...

Khmer Times Staff
https://www.khmertimeskh.com/50743512/after-fta-with-china-s-korea-next-in-line-to-negotiate-free-trade-agreement/

Finance sector in good shape: NBC

The National Bank of Cambodia (NBC) says the banking sector will continue to grow confidently and actively contribute to economic activity. At the same time, the banking and finance sector continues to promote financial inclusion with the number of deposit clients reaching 8.2 million accounts ...

Sok Chan
https://www.khmertimeskh.com/50742892/finance-sector-in-good-shape-nbc/

Garment exports fall, factories hit by virus

Exports in garment sector dropped more than 5 percent to around $3.78 billion in the first half of the year, according to a spokesman of the Ministry of Labour and Vocational Training. ...

Sok Chan
http://khmertimeskh.com/50743103/garment-exports-fall-factories-hit-by-virus/

US lobby group calls for full taxes on all Cambodian rice

Cambodian rice exports to the US could face full tariffs after a lobby group called for the imposition of full tariffs on the crop. Currently, the Kingdom’s rice enjoys some tax-protection under what is known as the Generalised System of Preferences (GSP)-eligible commodities list. However, ...

Sorn Sarath
https://www.khmertimeskh.com/50743069/us-lobby-group-calls-for-full-taxes-on-all-cambodian-rice/

PM to oversee China FTA signing in August

Prime Minister Hun Sen will lead a delegation of high ranking officials to sign the Cambodia-China Free Trade Agreement (FTA) next month, the Ministry of Commerce said.​ This, it said, will provide Cambodia a gateway to the world’s second largest and Asia’s largest economy, heralding ...

May Kunmakara
https://www.phnompenhpost.com/business/pm-oversee-china-fta-signing-august

New tech centre given boost to help digital startups

The Cambodian government issued a sub-decree establishing the new Techo Startup Centre (TSC) as a public administrative institution aimed at providing opportunities for young people, students and researchers to create new businesses in accordance with the trends and momentum of advancing digital technology. ...

Sok Chan
https://www.khmertimeskh.com/50742408/new-tech-centre-given-boost-to-help-digital-startups/

Investors’ $14.4M projects approved

In just the first week of this month, the Council for the Development of Cambodia (CDC) approved three new investment projects worth more than $14.4 million. They are expected to generate 625 jobs. ...

May Kunmakara
https://www.phnompenhpost.com/business/investors-144m-projects-approved

Australia keen on investing in renewable energy in Cambodia

Australia is interested in investing in renewable energy in Cambodia such as hydropower and solar power. The interest was highlighted here yesterday by newly appointed Australian Ambassador to Cambodia, Pablo Chiho Kang, during a meeting with Oknha Kith Meng, president of the Cambodia Chamber of ...

Nika/AKP
https://www.khmertimeskh.com/50741056/australia-keen-on-investing-in-renewable-energy-in-cambodia/

Cambodia’s rubber exports increase by 17 percent in first five months

Cambodia exported 97,175 tonnes of rubber to foreign markets in the first five months of this year, an increase by 17 percent compared to the same period last year. ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50741048/cambodias-rubber-exports-increase-by-17-percent-in-first-five-months/

Rocky road for logistics after dull H1

Cambodia Logistics Association (CLA) president Sin Chanthy told The Post on Thursday that despite the current surge in agricultural product exports – especially milled rice – overall activity in the sector saw minimal growth last month compared to March, April and May, with goods shipments ...

Hin Pisei
https://www.phnompenhpost.com/business/rocky-road-logistics-after-dull-h1

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

Kampong Cham exports over 20,000 tonnes of bananas

Kampong Cham provincial governor Un Chanda said yesterday at a press conference the province has exported over 20,000 tonnes of fresh yellow bananas to international markets during the first six months of this year. ...

Khann Chanvirak
https://www.khmertimeskh.com/50740992/kampong-cham-exports-over-20000-tonnes-of-bananas/

More Japanese investments on industry and agro-processing sought

Cambodian Minister of Commerce Pan Sorasak has encouraged Japanese investors to invest in the fields of industry and agricultural product processing in Cambodia. The call was made when he received a delegation of Japanese Business Association of Cambodia (JBAC) at the ministry Thursday. In the ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50741042/more-japanese-investments-on-industry-and-agro-processing-sought/

Milled-rice exports up 41%

Cambodia’s milled-rice exports gained 41 per cent to 397,660 tonnes in the first half of this year from the 281,538 tonnes shipped in the same period last year. Their combined value was $264.5 million, Cambodia Rice Federation (CRF) secretary-general Lun Yeng told The Post on ...

Thou Vireak
https://www.phnompenhpost.com/business/milled-rice-exports-41

Industry makes another appeal against EU tariffs

Three associations in the garment, footwear and travel goods and commerce yesterday once again sent a letter to the European Parliament appealing to postpone the scheduled partial withdrawal of the Everything but Arms (EBA) trade preferences. ...

Sok Chan
https://www.khmertimeskh.com/50740483/industry-makes-another-appeal-against-eu-tariffs/

Tourism savaged by COVID-19

As of May, government data shows COVID-19 forced the closure of nearly 3,000 tourism-based business and left more than 45,045 staff members unemployed. The unemployment and rising debt would severely affect the social economy while the Minister of Tourism estimated that the tourism sector would ...

Sorn Sarath
https://www.khmertimeskh.com/50740504/tourism-savaged-by-covid-19/

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

$627 million in exports to Japan in the first four months of this year

Cambodia has exported $627 million worth of products to Japan in the first four months of this year, up 4 percent compared to the same period last year. Figures from Japan External Trade Organisation (JETRO) show that from January to April, the bilateral trade between ...

Chea Vannak/AKP
https://www.khmertimeskh.com/50739560/627-million-in-exports-to-japan-in-the-first-four-months-of-this-year/

Water company expects big revenue rise after 2019 loss

State-owned utility Phnom Penh Water Supply Authority (PWSA), the first Cambodian Securities Exchange-listed company, aims to collect substantially more revenue in 2020 after a sharp drop in total revenue last year, according the result of its eighth annual general shareholders’ meeting. ...

Sorn Sarath
https://www.khmertimeskh.com/50739594/water-company-expects-big-revenue-rise-after-2019-loss/

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