Economy and commerce
Government looks at easing investment procedures
The Cambodian government is working hard at becoming more flexible to attract foreign investments and boost external trade to keep pace with the ever changing global trading environment. ...
Sorn Sarath
https://www.khmertimeskh.com/50770066/government-looks-at-easing-investment-procedures/
Government to draft policy to boost pepper value
The government is now drafting a policy on pepper with the intention of scaling up a competitive advantage, attract investors and boost added-value to Cambodian pepper production, according to a senior official at the Ministry of Commerce. ...
Sok Chan
https://www.khmertimeskh.com/50768753/government-to-draft-policy-to-boost-pepper-value/
Smart Axiata launches help for startups/SMEs
To support startups and small businesses across Cambodia, Impact Hub Phnom Penh is launching a new education programme for entrepreneurs with funding from Smart Axiata’s $1 million COVID-19 relief fund. ...
Khmer Times Staff
https://www.khmertimeskh.com/50768946/smart-axiata-launches-help-for-startups-smes/
News Analysis: GMAC lawsuit opens old wounds for unknown benefits
The decision by the Garment Manufacturers Association of Cambodia (GMAC) to file a lawsuit against the European Commission (EC) has reignited the ongoing struggle between Cambodia and the European Union (EU) to promote bilateral trade and uphold a political agenda. ...
Harrison White and Sok Chan
https://www.khmertimeskh.com/50769181/news-analysis-gmac-lawsuit-opens-old-wounds-for-unknown-benefits/
Six million tonnes of agricultural products exported in first nine months
Cambodia exported a total of 5.8 million tonnes of agricultural products to foreign markets during the first nine months of this year, despite the global COVID-19 crisis. ...
Phal Sophanith/AKP
https://www.khmertimeskh.com/50769105/six-million-tonnes-of-agricultural-products-exported-in-first-nine-months/
‘Uncertainty’ remains over economic outlook
The World Bank has forecast a sharp contraction of negative two percent for the local economy this year, adding that Cambodia’s unfavourable growth outlook alongside disruptions to jobs and lower household incomes means poverty is likely to increase. ...
Harrison White
https://www.khmertimeskh.com/50767885/uncertainty-remains-over-economic-outlook/
Sihanoukville Special Economic Zone —to Build an International Zone with the Concept of “Win-win”
Data from Cambodia’s custom and excise department shows that from January to August this year, the total number of containers arriving and leaving the Sihanoukville Special Economic Zone (SSEZ) increased by 22.1% compared with the same period last year. ...
Khmer Times Staff
https://www.khmertimeskh.com/50767842/sihanoukville-special-economic-zone-to-build-an-international-zone-with-the-concept-of-win-win/
NBC makes argument for more use of riels
National Bank of Cambodia Governor Chea Chanto said Cambodia needs a strong national currency to strengthen its economic and financial resilience to underlying crises, as well as to support sustainable and inclusive socio-economic growth and development. ...
Sok Chan
https://www.khmertimeskh.com/50767469/nbc-makes-argument-for-more-use-of-riels/
New milestone for financial technology
Techo Startup Centre (TSC), under the Ministry of Economy and Finance and the association of banks in Cambodia, yesterday signed a memorandum of understanding (MoU) on cooperation to promote financial technology systems in Cambodia. ...
Sok Chan
https://www.khmertimeskh.com/50767710/new-milestone-for-financial-technology/
Additional support to farming enterprises
KE, which is part of the Ministry of Economy and Finance, has teamed up with the Cambodia-Australia Agricultural Value Chain programme (CAVAC), devoted to improving the resilience and competitiveness of Cambodia’s agriculture sector. They are providing funding assistance to qualifying agro-processing small and medium enterprises ...
Sok Chan
https://www.khmertimeskh.com/50766442/additional-support-to-farming-enterprises/
Tax dept launches mediation tool
The General Department of Taxation (GDT) has officially launched a mediation software tool to help with financial management information systems and tax data management. The purpose of introducing it is to modernise and automate revenue-sharing data between the tax data management and financial information. ...
Sorn Sarath
https://www.khmertimeskh.com/50766648/tax-dept-launches-mediation-tool/
Premier Hun Sen seeks more investment from the US
Prime Minister Hun Sen yesterday said that although the COVID-19 pandemic has caused a severe impact on many Cambodians’ livelihoods and the economy, the government will not slow down its reform and development in any sector. ...
Sok Chan
https://www.khmertimeskh.com/50765232/premier-hun-sen-seeks-more-investment-from-the-us/
Higher budgets and more skills ‘needed to embrace digital transformation’
Cambodia is at risk of “getting left behind” if it doesn’t invest more in a digitally skilled workforce as local companies look to improve their business process and customer experience through “digital transformation”, according to a panel discussion on an industrywide survey. ...
Harrison White
https://www.khmertimeskh.com/50765233/higher-budgets-and-more-skills-needed-to-embrace-digital-transformation/
Boost for special economic zones
Cambodia exports via Svay Rieng province-based special economic zones (SEZs) alone reached more than $124.87 million in August, an increase of more than $57 million in July, according to figures from the Ministry of Commerce. ...
Sorn Sarath
https://www.khmertimeskh.com/50765345/boost-for-special-economic-zones/
UK FTA could be on horizon
Cambodia and the UK have vowed to boost their bilateral trade as the Kingdom looks to establish a bilateral free trade agreement with the country. The understanding was made during a meeting between secretary of state of the Ministry of Commerce Sok Sopheak and deputy ...
Thou Vireak
https://www.phnompenhpost.com/business/uk-fta-could-be-horizon
New manufacturing firms provide much-needed jobs
More foreign investment is being injected into Cambodia after a manufacturing company announced a new production line and an opening of more than 1,000 new jobs in Kampong Speu province. ...
Jason Boken
https://www.khmertimeskh.com/50764902/new-manufacturing-firms-provide-much-needed-jobs/
Cambodia-Japan trade reaches $1.1 billion in first seven months
Bilateral trade between Cambodia and Japan was recorded at $1,175 million in the first seven months of this year, inching down 5.7 percent compared to the same period last year. ...
Chea Vannak /AKP
https://www.khmertimeskh.com/50764528/cambodia-japan-trade-reaches-1-1-billion-in-first-seven-months/
Cambodia’s exports continue to face challenges amidst global headwinds
The Kingdom’s export to the international market is under threat although the country has secured regional and global free trade agreements, according to the Ministry of Commerce (MOC). ...
Sorn Sarath
https://www.khmertimeskh.com/50764362/cambodias-exports-continue-to-face-challenges-amidst-global-headwinds/
High oil tax ‘a burden’ on development
The high-rate of special tax of 10-25 percent on oil for production is one of the burdens facing the advancement of manufacturing industries in Cambodia that have a target to increase added-value by using machinery in the production chain, according to the Japanese Business Association ...
Sorn Sarath
https://www.khmertimeskh.com/50764153/high-oil-tax-a-burden-on-development/
$2.7 million of investment welcome in times of need
Logwood Apparel Co Ltd has been given the go-ahead from the Council for the Development of Cambodia (CDC) to build a factory in Kandal Stung district, Kandal province. The newly-approved project with a total investment of $2.7 million covers the production of clothes and medical ...
Jason Boken
https://www.khmertimeskh.com/50764132/2-7-million-of-investment-welcome-in-times-of-need/
Cambodia has exported more than 3 million tonnes of agricultural produce
More than 3 million tonnes of Cambodia’s agricultural products were exported as of Sept 11, according to a report from the Ministry of Agriculture, Forestry and Fisheries. ...
Move to unify non-banking finance regulators
A new non-banking financial services draft law designed to combine all non-banking regulators has been sent for legislative approval by Prime Minister Hun Sen during his most recent council of ministers meeting. ...
Kuch Nithatevy
https://www.khmertimeskh.com/50763856/move-to-unify-non-banking-finance-regulators/
Developing national entrepreneurship
The first National Entrepreneurship Award 2020 ended last month with a fruitful achievement. Meanwhile, the government is looking to scale up and make the second National Entrepreneurship Award more attractive for next year, according to a senior executive of Khmer Enterprise (KE), an implementation unit ...
Sok Chan
https://www.khmertimeskh.com/50764035/developing-national-entrepreneurship/
Japanese investments in Cambodia
Cambodia and Japan have just held the 20th Cambodia-Japan Public-Private Sector Meeting under the agreement for the liberalisation, promotion and protection of investment. This is the only bilateral mechanism between the two countries to promote diplomatic, economic, trade and investment cooperation. ...
Sorn Sarath
https://www.khmertimeskh.com/50763633/japanese-investments-in-cambodia/