Economy and commerce

Cambodia plans the inaugural issuance of $300 million sovereign bonds of $300 million next year

The Royal Government of Cambodia plans to issue the first $300 million worth sovereign bond to raise fund to finance public investment projects, aiming at boosting the country’s economic growth and productivity. ...

Khmer Times Staff
https://www.khmertimeskh.com/50958999/cambodia-plans-the-inaugural-issuance-of-300-million-sovereign-bonds-of-300-million-next-year/

Investment fabric ‘vital to LDC recoveries’

Facilitating investment flows to least developed and developing countries and creating favourable investment environments is necessary to support and accelerate economic recovery in the post-Covid-19 era, according to Council for the Development of Cambodia (CDC) secretary-general Sok Chenda Sophea on October 22. ...

May Kunmakara
https://www.phnompenhpost.com/business/investment-fabric-vital-ldc-recoveries

Cambodia set to launch Post Covid recovery plan soon

Cambodia is set to launch soon, its Post COVID economic recovery plan, thanks to its high rate of vaccination which stood at 85.33 percent as of Friday, October 22. ...

Michael Firn
https://www.khmertimeskh.com/50957334/cambodia-set-to-launch-post-covid-recovery-plan-soon/

Government approves budget bill for 2022

The Cambodian government approved a draft budget bill of 32,576.9 trillion riels (approximately $8.013 billion) for its expenditure for 2022, with national revenue set at 23,462.6 trillion riels (approximately $5.771 billion). ...

Chea Vanyuth
https://www.khmertimeskh.com/50958209/government-approves-budget-bill-for-2022/

Korea’s KB Kookmin Bank says completes acquisition of Prasac

South Korea’s KB Kookmin Bank, New York-listed KB Financial Group Inc’s (KB) commercial banking unit, on October 20 announced the completion of the acquisition the remaining 30 per cent interest in Prasac, Cambodia’s largest microfinance institution, as it expands its business into the Kingdom’s financial ...

May Kunmakara
https://www.phnompenhpost.com/business/koreas-kb-kookmin-bank-says-completes-acquisition-prasac

CCF carries out raids on 17 fuel fraudsters

Officials from the General Directorate of Consumer Protection, Competition and Fraud Repression (CCF) found 17 fuel businesses in four provinces conducting illegal business, while more than 1,000kg of defective goods and over 500 litres of counterfeit alcohol were confiscated and destroyed from October 18-20. ...

Long Kimmarita
https://www.phnompenhpost.com/national/ccf-carries-out-raids-17-fuel-fraudsters

Low-cost homes ‘ready 2022’

Construction of the $70 million two-phased Arakawa Residence affordable housing development in western Phnom Penh remains on track to be completed by mid-2022, developer Arakawa Co Ltd co-founder Ieng Sotheara told The Post on October 20. ...

Hin Pisei
https://www.phnompenhpost.com/post-property/low-cost-homes-ready-2022

South Korea FTA set to be signed Oct 26

The Cambodia-South Korea Free Trade Agreement (CKFTA) is set to be signed on October 26, ushering in a new chapter that will open up fresh avenues in trade and investment between the two Asian nations, according to a senior Ministry of Commerce official. ...

May Kunmakara
https://www.phnompenhpost.com/business/south-korea-fta-set-be-signed-oct-26

Cambodia-South Korea deal ‘to be signed next week’

The Kingdom of Cambodia and the Republic of Korea will sign a draft free trade agreement (FTA) next week, as the two countries witness their bilateral trade amount on the rise. ...

Chea Vanyuth
https://www.khmertimeskh.com/50955726/cambodia-south-korea-deal-to-be-signed-next-week/

Cambodia’s exports to Vietnam quadruple

Cambodia’s exports to Vietnam nearly quadrupled to $3.7 billion in the first nine months of this year, according to statistics from the General Department of Vietnam Customs. ...

Khmer Times Staff
https://www.khmertimeskh.com/50955269/cambodias-exports-to-vietnam-quadruple/

U.S.-ABC interested to invest in various sectors in Cambodia

U.S.-ASEAN Business Council (U.S.-ABC) is interested to invest in Cambodia in the fields of energy, industry, health, technology, finance and import-export. ...

Khmer Times Staff
https://www.khmertimeskh.com/50955248/u-s-abc-interested-to-invest-in-various-sectors-in-cambodia/

ADB approves $40 million to help small companies get loans

The Asian Development Bank (ADB) has approved a $40 million loan to help Cambodia’s micro, small, and medium-sized enterprises (MSMEs) get easier access to credit. The money will also support government efforts to bring in reforms to boost financial stability and upgrade the financial sector ...

Michael Firn
https://www.khmertimeskh.com/50954353/adb-approves-40-million-to-help-small-companies-get-loans/

New industrial investment proposals now registered

The Ministry of Industry, Science, Technology and Innovation approved a total of 124 new industrial investment projects between January and September this year, bringing a total active investment factory to 1,843. ...

Chea Vanyuth
https://www.khmertimeskh.com/954349/new-industrial-investment-proposals-now-registered/

Over $2.1 billion collected as tax revenue in first nine months

The General Department of Taxation (GDT) collected some 8,549 billion Riel (approximately $2,111 million) as tax revenue in the first nine months of this year, representing 94.12 percent of the yearly plan. ...

Khmer Times Staff
https://www.khmertimeskh.com/50954524/over-2-1-billion-collected-as-tax-revenue-in-first-nine-months/

Central bank calls on IMF to support ASEAN’s recovery

The governor of the National Bank of Cambodia has called on the International Monetary Fund (IMF) to continue supporting ASEAN economies, especially as they recover from the Coronavirus pandemic. ...

Michael Firn
https://www.khmertimeskh.com/50953619/central-bank-calls-on-imf-to-support-aseans-recovery/

Government asks Australia for financial support for ECCC

Minister of the council of Ministers Bin Chhin has requested that Australia provide funding to the national side of the Extraordinary Chambers in the Court of Cambodia (ECCC). ...

Yin Soeum
https://www.khmertimeskh.com/50953481/government-asks-australia-for-financial-support-for-eccc/

Agri exports nearly 6M tonnes in Jan-Sep

Cambodia exported 5.93 million tonnes of agricultural products to 90 countries and territories in the first nine months of this year, the Ministry of Agriculture, Forestry and Fisheries reported on October 14. ...

Nov Sivutha
https://www.phnompenhpost.com/business/agri-exports-nearly-6m-tonnes-jan-sep

US remains the biggest market for exporters

The US remained the biggest market for Cambodia’s export products in 2021 despite the Covid-19 pandemic. Cambodia’s eight-month exports to the US increased sharply although some products were made without the Generalised System of Preference (GSP), which means tariffs would have been paid. ...

Chea Vanyuth
https://www.khmertimeskh.com/50952218/us-remains-the-biggest-market-for-exporters/

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