Economy and commerce

As of May, government data shows COVID-19 forced the closure of nearly 3,000 tourism-based business and left more than 45,045 staff members unemployed. The unemployment and rising debt would severely affect the social economy while the Minister of Tourism estimated that the tourism sector would ...

With the Covid-19 pandemic cutting into the global vehicle and parts manufacturing industry and transforming Cambodians’ spending habits, imports have seen a sharp decline this year. Cambodia imported $600.903 million worth of vehicles and parts in the first five months of the year, plunging 17.39 ...

Cambodia has exported $627 million worth of products to Japan in the first four months of this year, up 4 percent compared to the same period last year. Figures from Japan External Trade Organisation (JETRO) show that from January to April, the bilateral trade between ...

State-owned utility Phnom Penh Water Supply Authority (PWSA), the first Cambodian Securities Exchange-listed company, aims to collect substantially more revenue in 2020 after a sharp drop in total revenue last year, according the result of its eighth annual general shareholders’ meeting. ...

The first human rights benchmark of renewable energy companies reveals serious weaknesses in industry efforts to protect workers and communities, creating risks in a sector vital to countering the climate crisis, according to the Business and Human Rights Resource Centre (BHRRC). However, Cambodia, which aims ...

Listed state-owned port operator Phnom Penh Autonomous Port (PPAP) has doubled down on its commitment to enhance its business performance during the global health crisis by reducing expenses and postponing non-urgent investment, director-general Hei Bavy told its annual meeting on Friday.​ ...

SHE Investments, a social enterprise to support women micro-small entrepreneurs (MSMEs) is joining as a Cambodian partner for Youth Business International’s Rapid Response Recovery Programme, funded by Google.org, to support women entrepreneurs to build digital literacy skills to enable them to recover and rebuild from ...

Phnom Penh Special Economic Zone Plc (PPSEZ) will suffer severely from the impact of the COVID-19 pandemic this year after reporting healthy results in 2019, according to the company’s senior officials. ...

Cambodia’s financial sector remains on a sustainable growth path despite the Covid-19 pandemic squeezing crucial industries, National Bank of Cambodia (NBC) governor Chea Chanto said. ...

For the first three week of June, more than 450,000 Cambodians and other residents of the Kingdom visited tourist destinations throughout the country, said Tourism Minister Thong Khon. ...

The ASEAN Coordinating Committee on Micro, Small and Medium Enterprises and the Asia Foundation has formally announced the Go Digital ASEAN initiative. Supported by a $3.3 million grant from Google, the initiative is designed to equip 200,000 people – of which 60 percent will be ...

The chairman of Canadia Bank and Overseas Cambodia Investment Corp (OCIC) said his company is developing a 500-hectare industrial park in Kampong Speu province (along the National Road 51). ...

The Kingdom’s annual $7 billion garment and textile sector, which has already been hard hit by the Coronavirus pandemic, is still struggling to make up for its partial loss of a preferential zero-tax trade deal provided by the European Union due to end in August. ...

The Cambodia Freight Forwarders Association (CFFA) yesterday said the on-going COVID-19 pandemic is seriously damaging logistic providers, with about 10 to 15 percent heading for bankruptcy in the upcoming months. ...

Animal husbandry in Cambodia is projected to enjoy a slight increase of 1.1 percent this year. The growth rate will rise to 1.6 percent in 2021, according a recent report from the government. ...

In the light of COVID-19, however, the sector is estimated to have suffered negative rate growth of 5.3 percent in 2020 and is expected to hit a growth rate of 3.3 per cent next year, according to an updated report by the Ministry of Economy ...

Prime Minister Hun Sen confirmed yesterday that the current Phnom Penh International Airport will be used only for the head of state, heads of local governments and Cambodian senior leaders, as a military airbase, for domestic flights, private jets and for diplomatic officials and foreign ...

A total of 1.9 million tonnes of agricultural products have been exported in the first five months of this year, a 7 percent increase compared to the same period last year. Of the total exported agricultural products, milled rice was accounted for about 350,000 tonnes, ...

Cambodia will seize the opportunity to export vegetables to EU market, a Ministry of Agriculture, Forestry and Fisheries senior official Ngin Chhay has said.  ...

Cambodia must boost the development of the domestic tourism, agriculture and small and medium enterprises (SMEs) to restore its economy  post-COVID-19, according to Ky Sereyvath, Director of China Study Center of RAC. ...

Cambodia has seen recent and rapid growth in digital and electronic payment services, where the platform is regarded as a key to promote the Kingdom’s financial inclusion. ...

The Kingdom’s coastal Sihanoukville, where Chinese nationals national dominated nearly a half of businesses  before the COVID-19 outbreak, is seeing economic activity gradually rebound after   Middle Kingdom’s investors and workers started to return to the province as pandemic fears ease.​ ...

Construction investment projects in Phnom Penh were recorded at more than $1.3 billion from January to May, officials said yesterday. ...

The Kingdom’s non-garment industry is predicted to remain healthy next year, supported by the agriculture and services sector, according to the government’s national strategic budget plan 2021-2023. ...