Economy and commerce

Cambodia collected $1.9 billion from all sources of taxes in the first quarter (Q1) of 2023, up 2 percent from nearly $1.86 billion in the same period last year, according to press statements released on Thursday. ...

The General Department of Customs and Excise (GDCE) has collected $564.1 million as custom income in the first three months of this year, a decline of 5.2 percent compared to the same period of 2022. ...

Commerce Minister, Pan Sorasak, said on Tuesday that a border trade agreement with neighbouring Vietnam will bring mutual benefits, improving people’s living conditions along the border and creating favourable trade conditions. ...

Cambodia’s exports declined by 5.7 percent in the first quarter of 2023, with the value of goods exported standing at $5.4 billion compared with $5.8 billion in 2022, according to data released by the General Department of Customs and Excise. . ...

Representatives of the private sector and economists have encouraged regional developers to establish a private sector development council to invest in regional special economic zones (SEZs), as they called for renewed focus on the development of exiting SEZs. ...

A “Standard of Loan Agreement” for the financial sector is under preparation, and institutions are expected to begin adopting its principles by June. But insiders and observers have expressed differing views on the precise provisions of the instrument, its potential effects on market competition, and ...

Low-income countries and emerging economies – including Cambodia – are facing heightened sovereign debt distress amid a rise in interest rates in advanced economies, according to International Monetary Fund (IMF) economic counsellor and director of research Pierre-Olivier Gourinchas. ...

The Council for the Development of Cambodia approved 39 fixed asset investment projects worth $294 million in the first quarter of this year. ...

Prime Minister Hun Sen said yesterday that the small and medium enterprises (SME) have played an important role in boosting economic growth in Cambodia, generating jobs for people, and contributing to poverty reduction. ...

Cambodia’s international trade decreased 14.5 percent to $11.3 billion in the first quarter of 2023, according to a report from the General Department of Customs and Excise yesterday. ...

Cambodia’s imports of oil, gas and coal rose by 7.8 percent in the first quarter of 2023, said a report from the General Department of Customs and Excise on Monday. ...

Nearly $700 million has been spent on the new $1.5 billion Techo International Airport (TIA), the main construction work on which has reached 46 per cent as of March 31, motivated by positive tourism growth, according to a senior civil aviation official. ...

Cambodia’s imports of oil, gas and coal rose by 7.8 percent in the first quarter of 2023, said a report from the General Department of Customs and Excise on Monday. ...

Cambodia recorded $11.25 billion in its international trade during the first quarter (Q1) of 2023, down 14.5 percent from $13.16 billion over the same period last year, said an official report released Monday. ...

Prime Minister Hun Sen expressed his hope that SMEs will further absorb at least 1 million workforces as the Royal Government is preparing to provide scholarships to 1.5 million students for vocational training. ...

Private sector investment is being sought for a $55 million project to develop sustainable eco-tourism in the Cardamom Mountains and Tonle Sap area. ...

Cambodia attracted 39 fixed-asset investment projects worth $294 million in the first quarter of 2023, generating some 47,000 new jobs, a report of the Council for the Development of Cambodia said Monday. ...

The UN Economic and Social Council (ECOSOC) convened a meeting in New York to allow Cambodia to join the Program Coordinating Board (PCB) of UNAIDS for the Asia-Pacific Region for the 2023-2025 term, according to the National AIDS Authority (NAA) ...

The Cambodian government has continuously implemented reforms to overcome challenges to attract more foreign direct investment, a senior official at the Ministry of Economy and Finance said. ...

China’s optimization of its anti-COVID-19 strategy and resumption of its outbound group tours earlier this year have revived the tourism industry in countries around the world, Cambodian government chief spokesman Phay Siphan has said. ...

The Royal Government of Cambodia has approved five renewable energy projects with a total capacity of 520 MW to increase the power supply to the national grid and contribute to reducing the emissions of carbon dioxide and protecting the environment. ...

Despite volatility due to COVID-19, Cambodia’s 2022 apparel exports to Thailand reached $57.6 million, and fabric imports were $157 million. ...

The Ministry of Economy and Finance (MEF), in collaboration with the World Bank (WB), yesterday held a sector policy dialogue to discuss new strategies with development partners and other government officials from different ministries and institutions to boost investment while considering the scope of regional ...

The Young Entrepreneurs Association of Cambodia has signed an MoU with four major institutions to further develop the nation’s small and medium enterprises ...