Economy and commerce

Cambodia’s economy is recovering well after COVID-19, but global headwinds could pose risks to a positive outlook in months to come, the World Bank said in a report released yesterday. ...

The Cambodia-Republic of Korea (ROK) Free Trade Agreement that has entered into force on Dec. 1 this year, will further enhance the current healthy bilateral economic cooperation, particularly on trade and investment. ...

The Asian Development Bank (ADB) has approved a $50m policy-based loan aimed at supporting the government of Cambodia to diversify the country’s economy and boost its global competitiveness. ...

Cambodia is preparing to ink a deal that will see South Korea offer $1.5 billion in loans to further develop the kingdom’s energy sector and infrastructure. ...

The World Bank in its Economic Update released Wednesday said the tourism and hospitality industries are likely to accelerate further, with projected increases in international arrivals and domestic tourists once the pandemic is becomes history. ...

ASEAN secretary-general Lim Jock Hoi expressed the bloc’s commitment to ensuring regional stability and prosperity amid a time of uncertainty and unprecedented challenges, through a road map adopted at the recent ASEAN Summit and related meetings. ...

The Council for the Development of Cambodia (CDC) has granted green light to a new investment project proposed by Textstar Garment (Cambodia) Co., Ltd. ...

The United States has some strict procedures and rules for food export, and Cambodia has the potential to utilise the huge American market for its food export, said experts. ...

A marked uptick in Indica rice exports to European markets is expected after Cambodia won a challenge against the European Commission’s (EC) 2019 decision to remove tariff preferences on imports of the rice from the Kingdom for three years, on grounds that the shipments were ...

The government has approved Maritime City Co Ltd’s proposal to build and operate a $164.4 million development in Preah Sihanouk province comprising a 582-room five-star hotel, a commercial centre and entertainment facilities. ...

The government has issued an open invitation to apply for a 155ha mineral exploration licence in northern Kampot province that officials claim has great investment potential for cement production. ...

Prime Minister Hun Sen said Cambodia needs a stable investment from Japan to produce more items in the country and then export back to the Japanese market to scale up the level of existing relations between the two countries. He emphasised more infrastructure development and ...

Cambodia has inked a deal to explore the possibilities to export renewable energy to Singapore by 2028 as part of its long-term strategy to achieve carbon neutrality by 2050. ...

Cambodia has won a legal battle after legally contesting the European Commission’s decision to revoke tariffs on rice imports from the Kingdom. ...

In the 10 months of 2022, Cambodia received more than 1.57 million international tourists, an increase of nearly 1,000 percent, compared to the same period last year. ...

Topics pertaining to economic and development cooperation between Cambodia and China came up during the 2nd China-Cambodia Economic and Trade Cooperation Forum held last week. ...

The Kingdom of Cambodia, which is striving to promote the country as a “rice basket” and a major rice exporter, is aiming to ship at least one million tons of rice per year – 2023 onwards – and earn revenue of around $800 million annually ...

Rising non-farm earnings, such as tourism, garment and construction sectors, helped to cut Cambodia’s national poverty to 17.8 percent from 33.8 percent between 2009 and 2019, the World Bank’s latest poverty assessment report for Cambodia stated. ...

Cambodia is expected to see a remarkable increase in its milled rice export due to the China market, a recovery in demand in the European Union, and the emergence of new markets. ...

Cambodia registered an 18.51 percent year-on-year increase in apparel export to $7.747 billion in the first ten months of this year. ...

The Ministry of Commerce and the Embassy of the Republic of Korea last Thursday held a workshop on dissemination of the benefits and export procedures to local exporters under the Cambodia-Korean Free Trade Agreement (CKFTA), which is scheduled to come into force next month. ...

The exports of apparel from Cambodia increased by 18.51 per cent year-on-year to $7.747 billion during January-October 2022. This constituted 41.30 per cent of Cambodia’s total foreign income of $18.747 billion during the period under review, according to data from the general department of customs ...

Cambodia has inked a deal with Bangladesh to export 25,000 tons of rice, with future collaboration in the pipeline. ...

The government plans to spend a total of $8.85 billion in the next financial year, according to a draft budget proposal for the year 2023 submitted by the Ministry of Economy and Finance. ...