Economy and commerce

Data from the Ministry of Commerce showed Cambodia exported $1.086 billion of goods to China, a year-on-year increase of 8.1 percent.  Cambodia’s 2020 imports from China were valued at $7.031 billion, a contraction of 6.9 percent compared with 2019 figures. ...

The Ministry of Commerce has invited businesses that wish to export to China to join a three-day virtual and in-person expo set to be held in eastern China’s Shandong province from April 27-29. ...

Stock-listed utility Phnom Penh Water Supply Authority (PWSA) reported strong growth and solid overall business performance last year despite economic disruptions caused by the Covid-19 pandemic. ...

Phnom Penh Water Supply Authority (PPWSA), in its annual disclosure document released on Tuesday, reported a pre-tax profit of approximately $29.68 million for 2020. ...

A senior official at the State Secretariat of Civil Aviation (SSCA) said the construction of Dara Sakor International Airport in Koh Kong province is on schedule and plans are for flight operations to begin in mid-2021. ...

The government has welcomed Chevron (Cambodia) Ltd’s plan to nearly triple its network of Caltex petrol stations in the Kingdom to 100, according to a senior official at the Ministry of Mines and Energy on February 28. ...

The Council for the Development of Cambodia (CDC) approved 16 capital investment projects last month totalling more than $700 million that are expected to create 11,414 local jobs. ...

Data from the Ministry of Commerce showed that in 2020 Cambodia exported $3.203 billion of goods to the EU and imported $659 million from the trade bloc. ...

Logistics industry insiders in the Kingdom have not seen evidence of imports and exports growing noticeably in early 2021 but are hoping to see that change as the availability of COVID-19 vaccine inoculations widens in the country and region. ...

Two private companies – Ocean Apparel Manufacturing Co., Ltd., and Glamor Glass Co., Ltd., have just received green light from the Council for the Development of Cambodia (CDC) for their investment projects. ...

Because trade between Cambodia and Timor-Leste remains low, the governments of both nations have decided to work towards boosting bilateral economic and business activities, according to a statement from the Ministry of Foreign Affairs and International Cooperation. ...

The General Directorate of Agriculture said it had submitted a list of 25 mango farms and three treatment facilities to the Chinese General Administration of Customs for sanitary and phytosanitary inspections. ...

The trade value between Cambodia and India saw a dramatic 25.81 percent reduction last year to $190.13 million from 2019’s $256.26 million as the Kingdom embarked on a feasibility study for a free trade agreement (FTA). ...

The National Bank of Cambodia (NBC) and the International Finance Corporation (IFC) will join forces on the “Cambodia Supply Chain Finance Market Development” project and expand financial access for the Kingdom’s small and medium-sized enterprises (SME). ...

Minister of Posts and Telecommunications Chea Vandeth on February 24 encouraged budding digital entrepreneurs to register for licenses and receive technical support, training and “encouragement” from the ministry. ...

Innovation is critical to productivity growth and economic progress in developing East Asia including Cambodia, China, Indonesia, Lao PDR, Malaysia, Mongolia, Myanmar, the Philippines, Thailand, and Vietnam in a rapidly changing world, according to a new World Bank report launched today. ...

The embassy of Cambodia to the Republic of Korea signed a memorandum of understanding (MoU) with DGB Bank to provide cooperation in promoting investment in Cambodia as well as protection for Cambodians in South Korea. ...

The Hong Kong Special Administrative Region of China has expressed its readiness to cooperate and provide technical assistance for Cambodia in the field of e-commerce. ...

The Ministry of Agriculture, Forestry and Fisheries has urged farmers to register their mango farms for certification to exports. This was reminded in the ministry’s press release issued recently, adding that the registration of mango farms is also intended to stabilise the price of the ...

Khmer Enterprise (KE), a unit under the Ministry of Economy and Finance and the Cambodia Partnership for Sustainable Agriculture (CPSA), have entered a partnership to promote entrepreneurship in the agriculture sector in Cambodia. ...

The COVID pandemic is intensifying the Kingdom’s push towards becoming a cashless society as consumers increasingly opt to conduct digital payments instead of physical transactions. ...

Cambodia’s total export value to China extended its winning streak last year, weathering supply chain disruptions due to the Covid-19 outbreak. ...

Local developer 5LH Lorn City Development Co Ltd’s (Lorn City Group) $100 million residential project broke ground on February 22 morning in Preah Sihanouk, to meet the growing housing demand in the coastal province, the provincial administration said in the press release. ...

New York Stock Exchange- (NYSE) listed hotel franchiser Wyndham Hotels & Resorts Inc (WH) has opened its first hotel in the Kingdom – the Howard Johnson Plaza by Wyndham Blue Bay Sihanoukville, WH said in a February 18 press release. ...