Economy and commerce

Cambodia’s non-gold exports reached $11.010 billion in the first eight months of this year, surging by 20.4 per cent year-on-year, while the analogous imports amounted to $14.6 billion, marking a 26.7 per cent year-on-year jump, the Ministry of Economy and Finance reported. ...

The European Investment Bank (EIB) has secured $17.4 million from the European Union to invest in sustainable agriculture projects in Cambodia. ...

Cambodia’s total trade volume in the first eight months this year remains positive despite the global economic fallout from the Covid-19 pandemic. ...

The National Bank of Cambodia has issued a notice to banks, microfinance institutions and exchange traders to participate in the auction of US $50,000,000 for October 12, 2021. ...

Cambodia exported 130,248 tonnes of milled rice in July-September valued at more than $81 million, representing a 42.95-per-cent rise in volume from the 91,115 tonnes posted in the same period last year, the Cambodia Rice Federation (CRF) reported earlier this week. ...

The Council for the Development of Cambodia approved 75 private investment projects outside special economic zones during the first eight months of the year, a year-on-year decrease of 28 percent. ...

Bilateral trade between Cambodia and the U.S. continue to grow even though the COVID-19 crisis has been affecting trade and lifestyle of countries around the world. ...

Some 3,894,485 tonnes of agricultural products, besides milled rice and paddy rice, have been exported to foreign markets during the first nine months of this year, despite the global COVID-19 crisis. ...

The Royal Government, through relevant ministries and institutions, has examined and discussed the reduction of the period of vaccination for investors who have received all doses of the vaccine. ...

Two investment projects with a total investment capital of $ 33.1 million approved by the Council for the Development of Cambodia (CDC) create job for a total of 1,118 places. This is according to the CDC press release on September 30.   ...

The Cambodian government confirms that about 295,000 barrels of crude oil stolen by the crew of MT Strovolos and seized by the Indonesian authorities are legal property by law of the Kingdom of Cambodia.   ...

Less than six months after introducing a sub-decree to push non-resident e-commerce firms to register for value-added tax (VAT) with the Cambodian tax authority, the government has upped the ante. ...

The collection of property tax revenue for 2021, which closed today (September 30), will be postponed until the end of October. This is according to the announcement of the General Department of Taxation.   ...

Rabbit Island development investment, the $130 million multiple resort project in Koh Tonsay island, four kilometres off Kep province, has started construction activities, with building materials being moved there. ...

Cambodia generated more than $326 million from the export of rubber latex and wood in the first eight months of this year, according to the Ministry of Agriculture, Forestry and Fisheries’ General Directorate of Rubber. ...

Cambodia and Australia have signed a memorandum of understanding (MoU) on the financing arrangements for an Agri-Food Investment Desk (AFID) at the Council for the Development of Cambodia (CDC), aimed at creating jobs and improving standards in farming. ...

The National Bank of Cambodia (NBC) has introduced a marginal lending facility (MLF) to address the short-term liquidity needs of banking and financial institutions in emergency situation to carry out their business operations. ...

The International Monetary Fund says Cambodia’s gross domestic product (GDP) will grow 2.2 percent this year, down from a previous forecast of 4.2 percent annual growth. GDP was minus 3.1 percent last year after average annual growth of 7 percent in previous years. ...

The World Bank has revised its economic forecast for Cambodia down to 2.2 per cent this year, from a higher expectation of four per cent in April amid a rapid rise in new daily coronavirus infections and deaths, spurred by the more transmissible Delta variant. ...

Ministry of Labor and Vocational Training sets US $194 minimum wage for textile, garment, footwear, travel accessories and bags workers for 2022. ...

$130 million investment project on 144 hectares of land in Koh Tonsay by Try Pheap Koh Tonsay Resort Co., Ltd. held a blessing ceremony to start building operation on the morning of September 27, 2021. ...

Vietnam earned $3.15 billion  from exporting goods to Cambodia in the first eight months of 2021, up 16.7 percent year-on-year. ...

As Cambodia and the rest of the world move to revive tourism, Pan Pacific Hotels Group (PPHG), a member of Singapore-listed UOL Group Ltd, plans to open two developments in the Kingdom over October-December 2023, in Phnom Penh and Siem Reap. ...

The bilateral trade between Cambodia and Thailand was valued at $5,238 million in the first eight months of this year, inching up 3.14 percent compared with the same period last year. ...