Economy and commerce

Public-listed Thai conglomerate PTT Oil and Retail (OR) will be investing $100 million to develop an oil depot for aviation refuelling at Techo International Airport (TIA), Phnom Penh’s new airport, where first phase operation is scheduled in mid 2024. ...

Geopolitical tensions could disrupt international trade and supply chain links, blocking efficiency gains derived from globalisation, ASEAN economic ministers (AEM) said at their 55th regional meeting. ...

The National Bank of Cambodia (NBC) and Bank of the Lao PDR (BOL) on Friday launched the cross-border payment via QR Code in Laos in the first phase, said a statement. ...

Exports from Cambodia to Vietnam have recorded steady growth, rising 20.6 per cent year-on-year to $1.6 billion in the first seven months of 2023 from $1.3 billion, although trade balance dipped one per cent to $3.8 billion from the year prior. ...

Ambassador Devyani Khobragade highlighted the increased business interactions aimed at bolstering bilateral trade. ...

The continuous reform of tax procedures and understanding taxpayers have helped the tax revenue increase steadily, industry observers say. ...

The General Department of Taxation (GDT) has announced new tax rates on locally-produced, non-alcoholic beverage products, according to the Ministry of Economy and Finance (MEF). ...

Kampong Speu is gearing up for a business boom, with the provincial administration recently revealing plans to set up 25 new factories and enterprises later this year. ...

Cambodia exported apparel items, clothing accessories and knitted and non-knitted or crocheted items worth $4.5 billion in the first seven months this year—down by 20.6 per cent year on year from $5.6 billion. ...

The Chinese state-owned firm Danong Agricultural Development Group plans to invest $12.7 billion in Cambodia to transform the latter’s agriculture into digital smart agriculture, stock and regional transit hub for agricultural products that will produce different agricultural products to the Chinese market, said an official ...

Top officials of Cambodia’s highest decision-making body for private and public investments on Friday presented key potential opportunities and challenges for investment in the country to Cambodian tycoons and foreign businesspeople. ...

Investment-friendly tax and investment laws and incentives, as well as the industrial development policy, are geared towards making Cambodia an investment hub and centre for automotive and electronics manufacturing in Southeast Asia. ...

Despites the ongoing Covid-19 crisis and geopolitical tensions, foreign direct investment (FDI) inflows to Cambodia remain stable, attracting $3.6 billion last year, a senior official said on Friday. ...

Chinese Foreign Minister Wang Yi’s visit to Cambodia is crucial to deepening the China-Cambodia comprehensive strategic partnership of cooperation, showing China’s commitment to fostering stronger ties with its neighbors, a Cambodian expert said. ...

The Battambang province attracted approximately 2,315,126 local tourists and 256,561 international tourists during the last five years, a press release of the Ministry of Information (MoI) said. ...

The Securities and Exchange Regulator of Cambodia (SERC) signed a Memorandum of Understanding (MoU) with the Lao Securities Commission Office (LSCO) to collaborate in the regulation and development of securities markets in both countries, said an official. ...

Cambodia’s biggest export-earning segment of garments, footwear and travel (GFT) goods extended its lean patch into the seventh month of the year, as the exports recorded a decline of 20.44 percent in the January to July period of 2023. ...

Canada imported nearly 769,000 knitted coats from the Kingdom during the January-May period of the current year, according to a website, which tracks the developments in the textile industry. ...

A five-member delegation from Cambodia attended the ASEAN-Pakistan Business Opportunities Conference 2023, which concluded in Lahore, Pakistan, on Friday. ...

Cambodia is trying to establish itself as a leading cashew-producing and exporting country through its National Policy on Cashew 2022–2027. The government aims to boost cashew output, develop processing facilities, diversify export markets, and simplify trade facilitation programs. ...

Cambodia exported $13.525 billion worth of goods to international markets in the January-July period of 2023, a year-on-year decrease of 2 percent, a report of the General Department of Customs and Excise showed on Friday. ...

Social media is rapidly taking over the e-Commerce sector in the Kingdom with almost all local businesses promoting their services using social media platforms, a latest market report has revealed. ...

A Chinese firm has expressed its interest to invest in the agricultural sector, particularly in cassava and corn cultivation and forage plant breeding in the central province of Kampong Thom. ...

The Association of Banks in Cambodia (ABC) and the Cambodia Microfinance Association (CMA) are working together with members over the allegation on suicides and attempted suicides due to over-aggressive handling by loan officers in Ratanakkiri recently. ...