Economy and commerce

Small and Medium Enterprise Bank of Cambodia Plc (SME Bank), which is currently reviewing its $50 million budget support for pandemic-hit tourism players in Siem Reap province was asked to consider providing loans to cruise boat businesses along the Tonle Sap River. ...

Economists and business leaders anticipate a dynamic 2024 for Cambodia’s industrial sector, with the government expecting it to outpace services and agriculture, driven by a wave of new investment projects. ...

Cambodia is set to offer tax incentives for another two years on rubber exports, starting from January 1, 2024, aiming to encourage cultivation and support growers and exporters in the face of declining prices due to a drop in international demand. ...

As the government ambitiously sets its sights on becoming an upper-middle-income country by 2030 and a high-income one by 2050, it urged all stakeholders to join hands and prioritise key strategies, embracing the challenge to transform the vision into reality. ...

Cambodia’s version of a central bank digital currency (CBDC) and online banking and mobile payments app, Bakong, has seen its adoption levels grow in leaps and bounds to surpass 10 million accounts. ...

Cambodia earned $789.75 million from the exports of rubber and articles made of rubber in the January to November period of 2023, recording an increase of 74.5 percent compared to the same period last year, according to the latest trade data of the General Department ...

Some 83,900 vehicles have traveled on the Phnom Penh-Sihanoukville Expressway during the New Year holiday, starting from Saturday to Monday, a senior Cambodian official said on Tuesday. ...

Almost 3.3 million people celebrated ringing in the new year, with Phnom Penh the most popular destination, according to the Ministry of Tourism (MoT). ...

The Ministry of Commerce registered 11,506 new companies and enterprises in the January-November period of 2023, up 14.58 percent from 10,046 in the same period last year, a report of the Ministry of Commerce showed. ...

Nearly 400,000 revellers thronged Kampot province, making it the most favourite spot in the country for the New Year celebrations. ...

Cambodia earned $37.19 million from Angkor Archaeological Park ticket sales last year, which is a 222-percent increase compared to the year before, the state-owned Angkor Enterprise report showed on Monday. ...

Penn Sovicheat, secretary of state of Cambodia’s Commerce Ministry, said the RCEP has been a key driving force for Cambodia’s export growth and has become a magnet for attracting more foreign direct investment inflows into the country. ...

Cambodia exported $8,144 million to the US in the first eleven months of 2023, inching down 0.89 percent compared to the same period in 2022, a report from the Ministry of Commerce showed. ...

Cambodia’s famed Angkor Archeological Park received 798,069 international visitors in 2023, up 177 percent from 287,454 in the previous year, said a news release on Monday. ...

Cambodia’s exports to Indonesia and India rose the most in the January to November 2023 period, by 111.7 percent and 55.1 percent respectively, compared to the same period in 2022. ...

On December 25, a five-year plan of action (2023-2027) to deepen economic and social cooperation was jointly endorsed by leaders of six Lancang-Mekong Cooperation (LMC) states including China, Cambodia, Laos, Myanmar, Thailand, and Vietnam at the fourth LMC Leaders’ Meeting, virtually held under the theme ...

Cambodia exported $9.9 billion worth of garment, footwear and travel products to international markets in the first 11 months of 2023, down 15 percent from nearly 11.7 billion dollars in the same period last year, said a Ministry of Commerce’s report released on Tuesday. ...

Cambodia has 753,670 business establishments, providing jobs to 2.98 million people, according to the official results of the 2022 Economic Census released here on Tuesday. ...

Cambodia exported $7.21 billion worth of products to the Regional Comprehensive Economic Partnership (RCEP) members in the first 11 months of 2023, up 27 percent from 5.67 billion dollars in the same period last year, a Ministry of Commerce report said on Tuesday. ...

Inter-ministries and a Japanese delegation have discussed a study project on the establishment of Cambodia-Japan Special Economic Zone, aimed to encourage more Japanese investors to invest in Cambodia. ...

The Kingdom’s local trade finance market currently stands at $1.6 billion and improving access to affordable trade finance could increase imports and exports by up to nine percent, according to the latest study conducted by the International Finance Corporation (IFC). ...

Cambodian Ambassador to Korea ChringBotumrangsay shared candid insights on the burgeoning bilateral relations, highlighting the economic synergy between the two nations at a business investment event on Thursday. ...

A group of Chinese investors and businessmen from Beijing have expressed interest in investing in agriculture, agro-industry and industry sectors in Kampong Speu province ...

Loans issued by the state-run Agriculture and Rural Development Bank (ARDB) have contributed towards stabilising the market price of rice apart from enhancing processing facilities and boosting exports, according to Aun Pornmoniroth, the Deputy Prime Minister and Minister of Economy and Finance. ...