Economy and commerce
Kingdom-US trade surges 33% in six months
Bilateral trade between Cambodia and the US remained resilient in the first half of 2021, clocking in at $3.8402 billion, or a 32.8 per cent surge from the $2.8917 billion booked in the same period last year, despite the profound implications of the Covid-19 pandemic ...
Thou Vireak
https://www.phnompenhpost.com/business/kingdom-us-trade-surges-33-six-months
Peppercorn exports soar over 558% in January-July
Cambodia exported more than 22,580.68 tonnes of peppercorn – both geographical indication- (GI) branded Kampot pepper and non-GI cultivars – in the first seven months of 2021, up 558.19 per cent year-on-year, with Vietnam as the top buyer, according to the Ministry of Agriculture, Forestry ...
Thou Vireak
https://www.phnompenhpost.com/business/peppercorn-exports-soar-over-558-january-july
Trade draft laws ‘effective in 2021’
Three major draft laws on trade are expected to take effect before the end of 2021, after receiving full support from National Assembly (NA) leaders and specialised committees, as well as the Senate, according to a Ministry of Commerce spokesman. ...
Hin Pisei
https://www.phnompenhpost.com/business/trade-draft-laws-effective-2021
Hospital given rights to import vaccines
The Royal Phnom Penh Hospital has been given the rights by the government to import and control the Pfizer-BioNTech and Moderna Covid-19 vaccines from the United States. ...
Mao Chanvireak
https://www.khmertimeskh.com/50909617/hospital-given-rights-to-import-vaccines/
Cashew, pepper firms have shot to sell products on Alibaba.com
Growers and suppliers of cashew nuts and geographical indication- (GI) certified Kampot pepper will soon have a chance to sell their products to Chinese consumers through the e-commerce platform Alibaba.com, according to the Ministry of Economy and Finance’s Entrepreneurship Development Fund (EDF) on August 3. ...
Thou Vireak
https://www.phnompenhpost.com/business/cashew-pepper-firms-have-shot-sell-products-alibabacom
Multi-purpose port for Kep province
A multi-purpose port is in the pipeline to be built in Kep province that will serve the tourism sector as well as a maritime seaport that will boost the economy and development sector of the province. ...
Chea Vanyuth
https://www.khmertimeskh.com/50908847/multi-purpose-port-for-kep-province/
Small and medium-sized companies in line for e-commerce training
Small and medium-sized Cambodian companies are to receive government training on how to make the most of the digital economy. ...
Michael Firn
https://www.khmertimeskh.com/50908914/small-and-medium-sized-companies-in-line-for-e-commerce-training/
New investment draft law intended to incentivise broadening of the economy
Cambodia’s new investment draft law is set to introduce new incentives for people to invest in the country. ...
Husain Haider
https://www.khmertimeskh.com/50908840/new-investment-draft-law-intended-to-incentivise-broadening-of-the-economy/
Lockdown against COVID-19 hampers Century Entertainment’s launch of new Cambodian casino
Strict lockdown measures in place nationwide, implemented on July 29 has again hampered the opening of Century Entertainment’s launch of new Cambodian casino in Koh Kong. ...
Khmer Times Staff
https://www.khmertimeskh.com/50908972/lockdown-against-covid-19-hampers-century-entertainments-launch-of-new-cambodian-casino/
Cambodia urges Asean Plus Three to focus on 4 priority areas
Four priority areas of cooperation, namely public health security, micro, small and medium enterprises (MSME) capacity building, climate-change resilient agricultural production, and sustainable energy have been emphasised by Cambodia’s top diplomat. ...
Khmer Times Staff
https://www.khmertimeskh.com/50908905/cambodia-urges-asean-plus-three-to-focus-on-4-priority-areas/
Requests for loans drop 34% in Apr-Jun
Applications for loans in the financial sector continued to drop in the second quarter of this year over concerns regarding the coronavirus outbreak and economic repercussions of the ensuing health crisis, according to a new report. ...
May Kunmakara
https://www.phnompenhpost.com/business/requests-loans-drop-34-apr-jun
Cambodia sets 2021 growth forecast at 2.5%
Cambodia drastically downgraded its economic forecast for 2021 to 2.5 per cent from the 4.1 per cent projection announced at the beginning of the year, due to the deteriorating Covid-19 situation. ...
May Kunmakara
https://www.phnompenhpost.com/business/cambodia-sets-2021-growth-forecast-25
CSX says not involved in GoldFX row
The Cambodia Securities Exchange (CSX) on August 3 said it is not involved in a fraud dispute concerning derivatives broker GoldFX Investment Co Ltd. ...
Thou Vireak
https://www.phnompenhpost.com/business/csx-says-not-involved-goldfx-row
Best, Cainiao launch China logistics service
Best Inc, a Chinese smart supply chain solutions and logistics services provider, on August 2 rolled out a “full-chain, direct logistics service” to send packages from China to Cambodia, Thailand and Vietnam, it said in a press release. ...
Thou Vireak
https://www.phnompenhpost.com/business/best-cainiao-launch-china-logistics-service
GDT and Japanese embassy hosts virtual discussion with investors
The General Department of Taxation at the Ministry of Economy and Finance and Japanese Embassy to Cambodia held a virtual discussion Monday in conjunction with the Japanese embassy on tax considerations for Japanese investors. ...
Chea Vanyuth
https://www.khmertimeskh.com/50908193/gdt-and-japanese-embassy-hosts-virtual-discussion-with-investors/
New garment sector investments exceeding $8mn approved by CDC
The Garment Manufacturers Association in Cambodia (GMAC) is welcoming new investments in one of the Kingdom’s pillar industries as new variants and outbreaks lead to a string of downgrades in economic projections. ...
Husain Haider
https://www.khmertimeskh.com/50908192/new-garment-sector-investments-exceeding-8mn-approved-by-cdc/
Chilli exports up nearly 50%
Cambodia exported 67,547.34 tonnes of chillies in the first seven months of 2021, an increase of nearly 50 per cent year-on-year, according to the General Directorate of Agriculture. ...
Hin Pisei
https://phnompenhpost.com/business/chilli-exports-nearly-50
ARDB loans set for rice sector
The state-owned Agricultural and Rural Development Bank of Cambodia (ARDB) announced that it has reserved a large number of financial packages of working capital loans for rice millers and exporters to buy paddy from farmers during the upcoming harvest season, in a bid to push ...
Thou Vireak
https://phnompenhpost.com/business/ardb-loans-set-rice-sector
NBC and NSSF joining hands in investment management
The National Bank of Cambodia (NBC) and the National Social Security Fund (NSSF) have entered into a partnership on social security planning, investment management and human resource development. ...
May Kunmakara
https://phnompenhpost.com/business/nbc-and-nssf-joining-hands-investment-management
GFX spurns meeting set with gov’t and victims
Embattled derivatives brokerage GoldFX Investment Co Ltd (GFX) was a no show at a tripartite meeting with victims that had been scheduled for Friday. ...
Husain Haider
https://www.khmertimeskh.com/50907147/gfx-spurns-meeting-set-with-govt-and-victims/
CDC approves $71 million in new investments to create 9,500 jobs
Eight new projects worth $71.4 million have been approved by the Council for the Development of Cambodia (CDC). The new projects will create over 9,500 jobs at a critical juncture in the Kingdom’s economic recovery. ...
Michael Firn
https://www.khmertimeskh.com/50906237/cdc-approves-71-million-in-new-investments-to-create-9500-jobs/
Rice exports plunge 27 percent but demand from China and Vietnam rises
Cambodia’s overseas rice shipments tumbled 27.3 percent Jan-July, compared with a year earlier. ...
Michael Firn
https://www.khmertimeskh.com/50907302/rice-exports-plunge-27-percent-but-demand-from-china-and-vietnam-rises/
Cambodia and Russia agree to boost bilateral trade and investment
Cambodia and Russia have agreed to boost bilateral cooperation on trade and investment, as the two countries mark the 65-year anniversary of the establishment of diplomatic relations. ...
Chea Vanyuth
https://www.khmertimeskh.com/50906438/cambodia-and-russia-agree-to-boost-bilateral-trade-and-investment/
Kingdom forecasts $5Bn in government revenue
The Cambodian government expects to earn tax and customs income of at least $5 billion by the end of 2021. This would bring revenue expectations in line with the $5.28 billion collected as registered in 2020. ...
Chea Vanyuth
https://www.khmertimeskh.com/50906434/kingdom-forecasts-5bn-in-government-revenue/