Economy and commerce

Following the pandemic, economic growth has been steady, the International Monetary Fund (IMF) said, with expansion projected at six percent in 2024, from an estimated 5.3 percent last year, thanks to tourism and non-garment exports. ...

Cambodia must ensure that the draft cybersecurity law is kept “business-friendly” to prevent driving out international companies and discouraging new overseas investment in the nation, according to an expert. ...

Transportation experts and economists are expressing optimism regarding the continued increase in the value of exports and imports within the Sihanoukville Special Economic Zone (SSEZ) for 2024. ...

Despite being challenged by natural disasters, climate change and global crises, agriculture sector contributed about 22 per cent of Cambodia’s gross domestic product (GDP) in 2023, according to Minister of Agriculture, Forestry and Fisheries Dith Tina. ...

Prime Minister Hun Manet and Mariam Sherman, the World Bank (WB) country director for Cambodia, Myanmar and Laos, are dedicated to advancing human capital and enhancing six key sectors in Cambodia. These sectors encompass education, health, agriculture, digital technology, the environment and climate change. ...

The Ministry of Industry, Science, Technology, and Innovation has pushed for forming new small and medium enterprise (SME) clusters to help farmers sell their products to local productions, contributing to finished product export. ...

Cambodia is actively seeking more direct investment to enhance its small and medium-sized enterprise (SME) sector, a key driver of the nation’s economic growth, according to the Ministry of Industry, Science, Technology and Innovation. ...

Cambodia and Australia are willing to further strengthen their banking and financial cooperation, especially in the field of green finance and financial knowledge. ...

The Cambodian economy is projected to grow by 6.4 percent in 2024, up from 5.5 percent in 2023, mainly driven by tourism and manufacturing sector, National Bank of Cambodia (NBC)’s Governor Chea Serey said on Friday. ...

Cambodia has been diversifying into the industrial sector from garment manufacturing to non-garment manufacturing, using skilled labour and technology in the production chains. ...

The banking and financial industry has remained strong despite uncertainties on global economic growth causing the bankruptcies of banks in some countries. ...

Cambodians spend approximately $2.3 billion a year on beer, with the average person drinking about 72 liters of beer annually, causing economic experts to claim that reducing beer consumption could cut spending on public health and security. ...

Manufacturing, the recovery of Cambodian tourism on the back of regional improvement, and infrastructure development are likely to boost gross domestic product (GDP) growth, projected at 6.4 percent this year, up from 5.5 percent in 2023. ...

Net profit for Phnom Penh Autonomous Port’s (PPAP) financial year ended December 31, 2023 (FY’23) sank 36.2 percent to $9.1 million from $14.3 million a year ago. ...

The General Department of Taxation (GDT) earned value-added tax (VAT) of $75.5 million on e-commerce in 2023, a year-on-year increase of 71 percent from $44 million recorded in 2022, an official report showed. ...

Microfinance has grown exponentially in Cambodia and is not as stressed as reported by the international media, according to a study by research firm M-CRIL in partnership with the Cambodia Microfinance Association (CMA). A sector which had only 50,000 clients in 1995, now services 2.1 ...

Dr. Eang Sophalleth, Minister of the Environment, fully welcomed and supported investors who wish to increase employment for local communities and help keep Cambodia’s environment clean by investing in renewable energy. ...

Cambodia increased its tax collection by 4.49 percent year-over-year to $3.6 billion in 2023. We exceeded our target (101.13 percent) with this year’s collection, said the General Department of Taxation (GDT) at the Ministry of Economy and Finance. ...

Cambodia’s international reserves increased to $20 billion in 2023, representing a year-on-year rise of 12.3 percent, the central bank said on Thursday. ...

Cambodia exported over $3.1 billion in electrical machinery, equipment and related products to the international market in 2023, an increase of more than 50% compared to 2022. The export value of these products constituted nearly 14% of the country’s total exports, as per data from ...

Cambodia generated more than $3.6 billion in 2023 through the General Department of Taxation (GDT), slightly exceeding the targets set in the 2023 Law on Financial Management and surpassing 2022’s revenue. ...

Amid strong domestic demand, moderate inflation and continuing improvements in trade, the ASEAN+3 region – encompassing the 10 bloc members and China, Japan and South Korea – is expected to maintain robust economic growth this year despite uncertainties in the global outlook. ...

Cambodian mangoes are gaining popularity across Russian markets offering a boost to the Kingdom’s agricultural sector, according to a representative of an agriculture firm that exports Cambodian mangoes to Russia and Central Asia. ...

The total capital of businesses enrolled through the Online Business Registration System (OBRS) via IT Platform phase I – commonly known as Single Portal – had reached almost $10 billion as of January 22, with the number of listed companies increasing to over 32,000, official ...