Economy and commerce

The Council for the Development of Cambodia (CDC) has approved three new investment projects with a total capital of $18 million. The new projects belong to New Target Footwear (Cambodia) Co., Ltd., Golden Island Garments (Cambodia) Co., Ltd., and Jin Long Quan (Cambodia) Co., Ltd., ...

The government has revised down its 2023 growth forecast for the Cambodian economy to 5.6 per cent versus the 6.6 per cent it put forth in October, citing uncertainty about global economic growth tied to the Ukraine conflict, climate change and the Covid-19 crisis. ...

Battambang province, located in the northwest of the country, has developed a lot in the last five years. The province today has mines and economic zones with large factories and enterprises, according to a brief report on the Battambang Provincial Administration’s success in the past ...

Cambodia’s total public debt stock is expected to increase approximately 1.42 percent to reach $9.97 billion by the end of 2022 compared to over $7 billion five years ago, while the national budget law allowed the government to borrow about $1.26 billion or $1.7 billion ...

Cambodia’s aim to become an automotive parts manufacturing hub, making a wide range of low-to-medium complexity components for export, is an important part of its plan to diversify the economy and also to offset the impact of the Covid-19 pandemic on the traditional key sectors, ...

The National Bank of Cambodia (NBC) received 306 cases of complaints and enquiries from consumers of services provided by banks and financial institutions through its hotline numbers in 26 cities and provinces in 2022. ...

Prime Minister Hun Sen  said on Wednesday  Hun Sen, that Cambodia will allow the private sector to invest 100% in the new high-speed railway linking Phnom Penh capital of Cambodia to Ho Chi Minh City of Vietnam. ...

China is a key contributor to Cambodia’s socioeconomic development and poverty reduction, Cambodian Economy and Finance Ministry’s Standing Secretary of State Vongsey Vissoth said here on Wednesday. ...

Cambodia, which successfully entered into several free trade agreements (FTA) last year, is looking at the prospect of having a similar partnership with Switzerland. ...

The Cambodia-Canada merchandise trade in 2022 was valued at $1.154 billion, soaring by 16.06 per cent over 2021, while the Kingdom’s exports to the second largest economy of the Americas accounted for 97.07 per cent, edging up by 1.08 percentage points on-year, according to the ...

The number of e-wallet accounts in the Kingdom reached 17.9 million at end-December amid an acceleration in electronic payment volumes driven in part by Covid-19 anxiety, reflecting gradual fintech (financial technology) development towards achieving the government’s digital economy objectives. ...

Cambodia has unveiled plans to expand the automotive and electronics sectors in the next three years by pumping more than $2 billion into the industries, generating about 26,000 new jobs. ...

Cambodia is expected to attract new investment in industrial sector under the bilateral free trade agreements (FTAs), the Regional Comprehensive Economic Partnership Agreement (RCEP), together with new investment law. ...

The French trade minister is scheduled to visit Cambodia on Tuesday for a two-day trip to boost bilateral ties as part of Paris’ increasing commitment to the region. ...

French foreign trade minister Olivier Becht’s plans to visit the Kingdom from January 24-25 have been welcomed as a major step in improving economic cooperation between the two nations, including by a senior commerce official and a leader of the local business community. ...

The Cambodia-Canada merchandise trade in 2022 was valued at $1.154 billion, soaring by 16.06 per cent over 2021, while the Kingdom’s exports to the second largest economy of the Americas accounted for 97.07 per cent, edging up by 1.08 percentage points on-year, according to the ...

The number of e-wallet accounts in the Kingdom reached 17.9 million at end-December amid an acceleration in electronic payment volumes driven in part by Covid-19 anxiety, reflecting gradual fintech (financial technology) development towards achieving the government’s digital economy objectives. ...

Prominent market players have affirmed that they are on board with the Banking and Financial Institutions’ Code of Conduct (BFI CoC) and associated Lending Guidelines, as well as their underlying objective to drive trust and professionalism in the field, as these sets of rules go ...

Cambodia recorded an average annual FDI inflow growth of 8.1 percent from 2017 to 2021, according to ESCAP’s Asia-Pacific Trade and Investment Trends 2022/2023 Country Report for Cambodia. ...

The General Department of Taxation (GDT) at the Ministry of Economy and Finance collected $3.45 billion as income from taxes in 2022, which is equivalent to 122 percent of the target for the year. ...

An official of the Ministry of Economy and Finance said that the lack of skills is a barrier to Cambodia becoming a high middle-income country, according to the vision of the Royal Government. ...

A national policy to push Cambodia’s cashew industry has been approved with the aim of transforming the sector into a major global supplier. ...

After its rollout about a year ago, Cambodian banks and financial institutionals (BFIs) and members of the Cambodian Association of Finance and Technology (CAFT) have finally fully implemented the code of conduct and lending guidelines. ...

CGCC dished out more than $92 million in 985 business loans in 2022, providing a financial lifeline to companies battling against the impact of Covid-19 and global inflation. ...