Economy and commerce

Be mindful of informal financing, NBC warns

The National Bank of Cambodia (NBC) and National Police on February 2 issued a joint statement warning of the risks associated with informal financial services, which it said could put borrowers in excessive debt or otherwise upend their lives. ...

May Kunmakara
https://www.phnompenhpost.com/business/be-mindful-informal-financing-nbc-warns

Trade with Malaysia soars 23% to $620M in 2022

The merchandise trade volume between Cambodia and Malaysia totalled $620.373 million in 2022, rising by 23.33 per cent over a year earlier, with Cambodian exports accounting for a 18.03 per cent share, down by 2.11 percentage points on a yearly basis, according to the General ...

Hin Pisei
https://www.phnompenhpost.com/business/trade-malaysia-soars-23-620m-2022

Cambodia plans to establish Cambodian private business centre in China

The Ministry of Commerce has been preparing for the establishment of five Cambodian private business centres in main cities of China in order to promote the sale of Cambodian products in the Chinese market.​ ...

Khmer Times Staff
https://www.khmertimeskh.com/501232091/cambodia-plans-to-establish-cambodian-private-business-centre-in-china/

Cambodia expects three to four million foreign arrivals in 2023

Prime Minister Hun Sen expressed his hope that between three and four million foreign tourists will visit Cambodia this year. ...

Khmer Times Staff
https://www.khmertimeskh.com/501232098/cambodia-expects-three-to-four-million-foreign-arrivals-in-2023/

Trade bodies CBC, IDI team up

The Bangkok-based Cambodia Business Council (CBC) and local Innovation and Development Investors Association (IDI) have joined forces to engage with and attract more investors as well as to improve Cambodian exports regionally and globally. ...

May Kunmakara
https://www.phnompenhpost.com/business/trade-bodies-cbc-idi-team

Ten new factory approvals means ‘over 20K’ more jobs

The Council for the Development of Cambodia (CDC) notices issued in January reveal that it has greenlit 10 new projects worth nearly $100 million, all in the manufacturing industry: eight involved in textiles and two in light bulbs. ...

Hin Pisei
https://www.phnompenhpost.com/business/ten-new-factory-approvals-means-over-20k-more-jobs

Cambodia eyes exporting 1 million tons milled rice by 2025

The Cambodia Rice Federation has set an ambitious goal to export at least a million tons of milled rice by 2025, an over 50 percent increase compared to the export figure in 2022. ...

Chea Vanyuth
https://www.khmertimeskh.com/501230991/cambodia-eyes-exporting-1-million-tons-milled-rice-by-2025/

Gov’t to launch informal economic policy this year

The Royal Government of Cambodia (RGC) is set to prepare and launch the informal economy policy before the end of 2023 to develop and upgrade the informal sector in a management system under the formal economy, said a top official of the Ministry of Economy ...

Kang Sothear
https://www.khmertimeskh.com/501230999/govt-to-launch-informal-economic-policy-this-year/

PM appreciates GDT for increased tax collection

Prime Minister Hun Sen lauded the General Department of Taxation (GDT) for its efforts in collecting tax revenue that exceeded the budget plan in 2022, adding that the increased tax revenue contributed to the national economic development. ...

Chea Vanyuth
https://www.khmertimeskh.com/501230997/pm-appreciates-gdt-for-increased-tax-collection/

$3.4b collected in taxes in 2022

A total of $3.4 billion was collected in taxes in 2022, marking a 23.96 percent increase from 2021. ...

Seng Mengheng
https://kiripost.com/stories/cambodia-34b-collected-in-taxes-in-2022

Cambodia’s increasing business registration reflects economic recovery

The Ministry of Commerce registered 10,701 new companies and enterprises in 2022, up 40 percent from 2021, reflecting Cambodia’s post pandemic economic recovery, said a report of the Ministry of Commerce released earlier this week. ...

Khmer Times Staff
https://www.khmertimeskh.com/501231414/cambodias-increasing-business-registration-reflects-economic-recovery/

Cambodia, Laos, Myanmar and Vietnam to grow stronger this year, says Thai bank

The Economic Intelligence Centre of the Siam Commercial Bank forecasts the CLMV countries, namely Cambodia, Laos, Myanmar and Vietnam, will gain a stronger growth momentum in 2023, but remain below its growth potential prior to the COVID-19 outbreaks. ...

Khmer Times Staff
https://www.khmertimeskh.com/501231435/cambodia-laos-myanmar-and-vietnam-to-grow-stronger-this-year-says-thai-bank/

Int’l trade rises as commerce ministry lays out 2023 plans

Cambodia’s 9.19 per cent on-year rise in foreign trade value to the $52.425 billion logged by Customs for 2022 was driven by “in-depth reforms in all areas”, improvements in export competitiveness, and an increasingly favourable business and investment environment, according to Minister of Commerce Pan ...

Hin Pisei
https://www.phnompenhpost.com/business/intl-trade-rises-commerce-ministry-lays-out-2023-plans

‘Eco-tourism’ development on the cards for Koh Thmey isle

Local company HTTH Island Investment Co Ltd is reportedly studying the feasibility of a 16.68sq km “eco-tourism” development project on Koh Thmey island, just southeast of Prey Nop district’s Ream National Park in Preah Sihanouk province. ...

May Kunmakara
https://www.phnompenhpost.com/business/eco-tourism-development-cards-koh-thmey-isle

Private trade centres eyed for five cities across China

The Ministry of Commerce plans to set up five Cambodian private business centres in China to step up the Kingdom’s exports to the East Asian giant and maximise use of the bilateral free trade agreement (FTA) between the two countries, the ministry’s two-day annual meeting ...

Hin Pisei
https://www.phnompenhpost.com/business/private-trade-centres-eyed-five-cities-across-china

Cambodia inches up ‘corruption perceptions index’

Cambodia ranks 150 of 180 countries in the annual Corruption Perceptions Index (CPI) for 2022, an improvement over 2021, when the country ranked 157th. ...

Chhun Sunly
https://www.khmertimeskh.com/501230310/cambodia-inches-up-corruption-perceptions-index/

CPP sets strategies for upper-middle income by 2030

The Cambodian People’s Party (CPP) has set economic strategies for Cambodia for the next five years to become an upper-middle-income country by 2030 as the economy is striding with ongoing necessary strengths after slipping into negative 3.1 percent in 3.1 percent, according to a resolution ...

Kang Sothear
https://www.khmertimeskh.com/501230305/cpp-sets-strategies-for-upper-middle-income-by-2030/

Gov’t spins out additional measures for tourism recovery

The Royal Government of Cambodia (RGC) on Monday issued another set of guidelines on additional measures to further control the impacts of the recovery of tourism in Cambodia as the economy has still been at high risk and uncertainty of regional and global changing trends, ...

Kang Sothear
https://www.khmertimeskh.com/501230304/govt-spins-out-additional-measures-for-tourism-recovery/

Cambodia exported $900M bicycles in 2022

Cambodia earned $900 million from the export of bicycles in 2022, which is an increase of 43 percent over the $631 million reported for 2021, according to a report by the Ministry of Commerce. ...

Sok Sithika
https://www.khmertimeskh.com/501229750/cambodia-exported-900m-bicycles-in-2022/

Cambodia exports surge 16% to $22.4B

The government’s strategic measures and reforms helped Cambodia register remarkable export growth, the Ministry of Commerce said yesterday. ...

Chea Vanyuth
https://www.khmertimeskh.com/501229569/cambodia-exports-surge-16-to-22-4b/

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