Economy and commerce

Cambodia drastically downgraded its economic forecast for 2021 to 2.5 per cent from the 4.1 per cent projection announced at the beginning of the year, due to the deteriorating Covid-19 situation. ...

The Cambodia Securities Exchange (CSX) on August 3 said it is not involved in a fraud dispute concerning derivatives broker GoldFX Investment Co Ltd. ...

Best Inc, a Chinese smart supply chain solutions and logistics services provider, on August 2 rolled out a “full-chain, direct logistics service” to send packages from China to Cambodia, Thailand and Vietnam, it said in a press release. ...

The General Department of Taxation at the Ministry of Economy and Finance and Japanese Embassy to Cambodia held a virtual discussion Monday in conjunction with the Japanese embassy on tax considerations for Japanese investors. ...

The Garment Manufacturers Association in Cambodia (GMAC) is welcoming new investments in one of the Kingdom’s pillar industries as new variants and outbreaks lead to a string of downgrades in economic projections. ...

Cambodia exported 67,547.34 tonnes of chillies in the first seven months of 2021, an increase of nearly 50 per cent year-on-year, according to the General Directorate of Agriculture. ...

The state-owned Agricultural and Rural Development Bank of Cambodia (ARDB) announced that it has reserved a large number of financial packages of working capital loans for rice millers and exporters to buy paddy from farmers during the upcoming harvest season, in a bid to push ...

The National Bank of Cambodia (NBC) and the National Social Security Fund (NSSF) have entered into a partnership on social security planning, investment management and human resource development. ...

Embattled derivatives brokerage GoldFX Investment Co Ltd (GFX) was a no show at a tripartite meeting with victims that had been scheduled for Friday. ...

Eight new projects worth $71.4 million have been approved by the Council for the Development of Cambodia (CDC). The new projects  will create over 9,500 jobs at a critical juncture in the Kingdom’s economic recovery. ...

Cambodia’s overseas rice shipments tumbled 27.3 percent Jan-July, compared with a year earlier. ...

Cambodia and Russia have agreed to boost bilateral cooperation on trade and investment, as the two countries mark the 65-year anniversary of the establishment of diplomatic relations. ...

The Cambodian government expects to earn tax and customs income of at least $5 billion by the end of 2021. This would bring revenue expectations in line with the $5.28 billion collected as registered in 2020. ...

Cambodia exported nearly $3 billion worth of agricultural products in the first seven months of the year, a rise of more than 87 percent over the same period in 2020. ...

Cambodia and Russia have pledged to explore ways to encourage and promote joint investment projects between the two countries, according to the Ministry of Foreign Affairs and International Cooperation. ...

According to the Ministry of Public Works and Transport of Cambodia, the construction of the Phnom Penh-Sihanoukville Expressway is progressing smoothly and to date, the project has achieved 63% in terms of overall completion. ...

Cambodia has committed to develop the Cambodia-Laos-Vietnam Development Triangle Area (CLV-DTA) in order to contribute to enhancing cross border trade activities and improving the livelihoods of the region’s peoples. ...

Cambodia and China are committed to increasing bilateral trade to $10 billion by 2023, from $8 billion last year, according to a senior official at the Cambodian Ministry of Commerce. ...

Prime Minister Hun Sen ordered a temporary ban on imported meat, although details are still forthcoming, according to the Ministry of Agriculture. ...

Bilateral trade between Cambodia and South Korea is growing ahead of a draft bilateral trade agreement expected to be signed and put into effect by the end of this year. ...

The National Bank of Cambodia (NBC) and ADB’s Economic Research and Regional Cooperation Department have launched the Macroeconomic Surveillance Database System (MSDS) testing to secure timely report of macroeconomic and financial status. ...

Cambodia’s international reserves remain as high as $20.8 billion, while the banking sector stays healthy amid the threat of COVID-19 pandemic. ...

The Kingdom’s banking and financial institutions have restructured 22.2 trillion riel ($5.5 billion) in loans for 367,239 borrowers in the first half of this year, to ease the burden on the public as the ongoing coronavirus outbreak dampens economic activity, according to the National Bank ...

Cambodian customs authorities seized 3 containers of frozen buffalo meat imported from India that contained Covid-19. ...