Economy and commerce

The conglomerate Cambodia’s Royal Group of Companies will export renewable energy to Singapore after the group signed an agreement with Keppel Energy Pte Ltd on Wednesday, which will enable the latter to purchase electricity from the Kingdom. ...

Cambodia netted $79.370 million from the export of natural rubber latex and wood in the first two months of 2023, marking a slight increase year-on-year, even amid a decline in prices on international markets for the locally-produced white sap, according to the Ministry of Agriculture, ...

The General Department of Taxation (GDT) during a meeting on Tuesday announced a work plan for this year with an emphasis on developing a system that will make paying taxes easy and evasion difficult. ...

The General Department of Taxation (GDT) has collected $539 million as tax income in the first two months of this year, representing 15 percent of the national budget plan 2023. ...

The US remained the biggest market for Cambodia with a share of 34.4 percent even though the Kingdom’s exports to the country decreased by 20.2 percent to reach $1.12 billion in the first two months of the year compared to the same period in 2022, ...

The trade volume between Cambodia and China reached $1.7 billion in the first two months of 2023, down 15.6 percent year-on-year, according to a report from the General Department of Customs and Excise. ...

Credit Guarantee Corporation of Cambodia Plc (CGCC) reportedly issued a total of 1,155 Letters of Guarantee (LG) for loans worth $104.9 million equivalent as of February 28 – up 13 per cent year-to-date – as part of its mission to improve financial inclusion among small- ...

Cambodia’s fresh banana exports to regional markets in the first quarter of the year have improved compared to 2022, mainly due to the lifting of Covid-19 lockdowns in China – the Kingdom’s biggest market – and a reduction in shipping costs, said Longmate Agriculture CEO ...

Minister of Environment Say Samal on March 13 encouraged the garment and other textile-related industries to step up clean-energy and green efforts to better position the Kingdom to meet key government greenhouse gas (GHG) mitigation commitments, as a prominent EU-backed programme registers a record-breaking 50th ...

Cambodia sees a fall in exports in the first two months of 2023, down 8.6 percent compared to the same period last year. It is, however, not a worrying sign, the Commerce Ministry said. ...

Kampong Speu provincial governor Vei Samnang has pledged to attract more investment to his province. Samnang announced that he would lead a provincial delegation to Hong Kong later this month to discuss business opportunities in the Kampong Speu. ...

Cambodia’s public debt is still evaluated as controllable with a low risk of distress despite the country’s economy having been impacted by the Covid-19 pandemic and other external factors. ...

By 2030, Sihanoukville Autonomous Port (PAS) will be able to ship goods directly without any transit to the US and European Union (EU) markets, said Sun Chanthol, Minister of Public Works and Transports (MPWT) yesterday. ...

The total trade volume between Cambodia and other countries around the world reached more than $6.8 billion in the first two months of 2023, down 21.8 percent when compared to the same period last year. ...

The Kingdom of Cambodia and the Lao People’s Democratic Republic (Lao PDR) will boost their bilateral cooperation in tourism sector. ...

Cambodia views 2023 as a pivotal year for attracting more foreign tourists. After the devastating impacts of the Covid-19 outbreak, the year should considerably assist Cambodia in overcoming the crisis that has enveloped the tourism sector, which is regarded one of the four pillars on ...

Cambodia has emerged as the second-largest partner of the South Korean government’s Economic Development Cooperation Fund (EDCF) initiatives over the years, it was revealed at an evaluation workshop of the programme recently in Phnom Penh. ...

Kampong Chhnang Multi-Purpose Port and Logistics Centre will spend more than $300 million to promote the transportation of Cambodian products to local and international markets. ...

Cambodia’s exports of garments, footwear and travel (GFT) goods declined by nearly 25 percent in February 2023, compared to the same period in 2022, continuing a trend that started nearly six months ago raising fears of factory closures and job losses. ...

Cambodian goods exports to Vietnam amounted to $491.180 million in the first two months of 2023 – surging by 36.12 per cent over the same time last year – accounting for 45.28 per cent of bilateral trade, jumping up by 7.30 percentage points year-on-year, according ...

International tourism receipts clocked in at $1.415 billion last year, marking a 7.690-fold increase over $184 million in 2021, albeit still a 71.2 per cent decrease from 2019’s record $4.919 billion, according to the Ministry of Tourism’s Tourism Indicators 2022 report. ...

In the first two months of 2023, Cambodia exported nearly 100,000 tonnes of milled rice worth $72.67 million to 38 markets through 40 milled rice export companies, according to a report from the Cambodia Rice Federation (CRF). ...

Micro, small and medium-sized enterprises (MSMEs) constitute the backbone of Cambodia’s economy and account for 99.8 percent of its businesses. ...

Locally-owned KLP.T Transportation Co Ltd’s new multi-purpose port and logistics centre just east of Kampong Chhnang town is expected to provide a substantial boost to Cambodian freight movement, particularly of agricultural products from the provinces bordering Tonle Sap Lake to international markets. ...