Economy and commerce

GDT collects $2,680 million in tax income as of Sept

The General Department of Taxation (GDT) has collected $2,680 million in tax income in three quarters of this year, representing 95 percent of the national budget plan 2022. ...

Chea Vanyuth
https://www.khmertimeskh.com/501159641/gdt-collects-2680-million-in-tax-income-as-of-sept/

Cambodia, UK to strengthen bilateral trade ties

Good diplomatic cooperation had led to a significant increase in trade between the two countries. Cambodian exports to the UK increased 42 percent to over $627 million. ...

Sok Sithika
https://www.khmertimeskh.com/501159802/cambodia-uk-to-strengthen-bilateral-trade-ties/

Korea ratifies Free Trade Agreement

The Korean National Assembly has ratified a free trade agreement with Cambodia that will boost the Kingdom’s exports in a raft of areas. ...

Chhorn Raksmey
https://kiripost.com/stories/korea-ratifies-free-trade-agreement

Two million tourists to visit Cambodia in 2022

As Cambodia navigates a post-pandemic world, international tourist arrivals lag with 1.5m to 2m tourists predicted for 2022. This is estimated to rise to pre-Covid levels of 7m by 2026. ...

Prak Chan Thul
https://kiripost.com/stories/two-million-tourists-to-visit-cambodia-in-2022

RCEP partners witness ongoing growth opportunities

Government officials and business leaders from China and the Association of Southeast Asian Nations are bullish on future business growth opportunities arising from the Regional Comprehensive Economic Partnership agreement, speakers said at the recently concluded 19th China-ASEAN Expo, which was held from Sept 16 to ...

Khmer Times Staff
https://www.khmertimeskh.com/501159266/rcep-partners-witness-ongoing-growth-opportunities/

Cambodia’s GDP and Inflation to Rise This Year, World Bank Says

Cambodia’s GDP growth is estimated to reach 4.8% this year, and continue rising for the next two years while remaining below pre-pandemic levels, and inflation may hit 6%, more than double the rates of the last two years, the World Bank said. ...

Sorn Sarath and Matt Surrusco
https://cambojanews.com/cambodias-gdp-and-inflation-to-rise-this-year-world-bank-says/

Cambodia, UK reaffirm ties as trade surges 44%

Cambodia and the UK have pledged to further boost trade cooperation after January-August bilateral trade soared more than two-fifths compared to the same period last year. ...

Hin Pisei
https://www.phnompenhpost.com/business/cambodia-uk-reaffirm-ties-trade-surges-44

E-payments to save MSMEs on costs: NBC

Digitising payments could bring substantial cost savings for micro-, small-, and medium-sized enterprises (MSME), not only by simplifying cash management processes but also reducing potential opportunities for misappropriation or corruption, according to the central bank chief. ...

May Kunmakara
https://www.phnompenhpost.com/business/e-payments-save-msmes-costs-nbc

Cambodia discusses cooperation promotion with Gambia and Brazil

Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Cambodia Prak Sokhonn had separate bilateral meetings with his counterparts from Gambia and Brazil to exchange views on promoting bilateral relations, in New York City, USA on Sept. 22, on the sidelines of ...

Khmer Times Staff
https://www.khmertimeskh.com/501157032/cambodia-discusses-cooperation-promotion-with-gambia-and-brazil/

Skills for future economy project to be okayed by 2023: ADB

ADB will support the Skills for Future Economy Sector Development Program in Cambodia, said a top official of the bank. The bank is the leading development partner in the technical and vocational education and training (TVET) sector. ...

Sok Sithika
https://www.khmertimeskh.com/501156974/skills-for-future-economy-project-to-be-okayed-by-2023-adb/

IMF, ADB peg 2022 GDP growth at 5%

Two major multilateral lenders have forecast Cambodia’s economic growth for 2022 at around five per cent, buoyed by bumper export performance earlier in the year, coupled with ongoing policy support and continued tourism recovery, but held back by external pressures associated with Covid-19 and the ...

May Kunmakara
https://www.phnompenhpost.com/business/imf-adb-peg-2022-gdp-growth-5

Inflation to peak this year before showing signs of decline

The International Monetary fund has predicted inflation in Cambodia will peak this year due to global pressures, weakened export orders, and a slowing real estate market, before falling from 2023 onwards. ...

Prak Chan Thul
https://kiripost.com/stories/inflation-to-peak-this-year-before-showing-signs-of-decline

Jan-Jun investment capital hike raises trade, production hopes

The nearly 160 per cent surge in investment capital behind a slew of new large-scale investment projects outside of Cambodia’s special economic zones (SEZ) reported for the first half of 2022 has fanned optimism for a boom in production and exports – underpinned by favourable ...

Hin Pisei
https://www.phnompenhpost.com/business/jan-jun-investment-capital-hike-raises-trade-production-hopes

South Korean investor body explores local opportunities

Cambodia is looking to drum up interest among Korean investors in the production of goods in the Kingdom for export to their home market, and push bilateral trade beyond current levels – $549.930 million in the first eight months of 2022, up by 6.42 over ...

Hin Pisei
https://www.phnompenhpost.com/business/south-korean-investor-body-explores-local-opportunities

ADB retains Cambodia’s growth forecast at 5.3 percent in 2022 and 6.2 percent in 2023, down by 0.3 percent

The Asian Development Bank (ADB) maintained its economic growth forecast for Cambodia at 5.3 percent in 2022, but lowered the 2023 forecast to 6.2 percent from the earlier prediction of 6.5 percent due to weaker global growth, according to its updated outlook report released on ...

Khmer Times Staff
https://www.khmertimeskh.com/501155788/adb-retains-cambodias-growth-forecast-at-5-3-percent-in-2022-and-6-2-percent-in-2023-down-by-0-3-percent/

ACLEDA scoops award for aiding Cambodian SMEs

ACLEDA Bank, one of Cambodia’s largest banks, today revealed it has been crowned the “Best Bank Partner for SMEs in EAP Award” by Washington DC-based International Finance Corporation (IFC), which is a member of the World Bank Group. ...

Kiripost staff writers
https://kiripost.com/stories/acleda-scoops-award-for-aiding-cambodian-smes

Gov’t to issue bonds for second time to borrow $50M from investors

The National Bank of Cambodia (NBC) will proceed with another auction process for the Ministry of Economy and Finance (MEF) to borrow about $50 million from investors for the second time of the government’s plan of issuance for a longer period of time of repayment ...

Kang Sothear
https://www.khmertimeskh.com/501154678/govt-to-issue-bonds-for-second-time-to-borrow-50m-from-investors/

Royal Railway Plc gets approval for issuance of bond

Train operator Royal Railway Plc, a subsidiary of local conglomerate Royal Group of Companies Ltd, has received “approval in principle” from the Council of the Non-Banking Financial Services Authority (NBFSA) to issue a bond worth about $10 million on the Cambodia Securities Exchange (CSX), which ...

May Kunmakara
https://www.phnompenhpost.com/business/royal-railway-plc-gets-approval-issuance-bond

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